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Post by kissmyjazz on May 26, 2017 22:33:32 GMT
+3 I completely stopped caring about Bondora
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Mintos
Bad Debt
Oct 30, 2016 11:02:45 GMT
Post by kissmyjazz on Oct 30, 2016 11:02:45 GMT
I think bad debt means written off or unrecoverable debt
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Post by kissmyjazz on Oct 21, 2016 13:00:27 GMT
As a grammar nazi I do not understand why so many people write Hipocredit with two p -s. Do you assume that it is a company that gives loans to hippopotamuses or what?
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Post by kissmyjazz on Oct 2, 2016 7:54:00 GMT
Please look at the cost of recovery of defaulted Mogo loans in the separate thread here on the forum. It is quite significant. www.p2pindependentforum.com/thread/6652/default-trackerOn Bondora the similar risk class loans are offered at 30 + % interest rate. 13% loan secured by some overpriced 10 year old car is only weakly secured for me. In this situation I would actually invest in the Bondora loan.
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Post by kissmyjazz on Oct 2, 2016 0:17:50 GMT
I strongly advise against investing in Mogo loans without the buyback guarantee. I think the return rate stated by Mogo/Mintos is inflated and Mogo generally issues loans to the bottom of the subprime sector, so many loans are complete junk.
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Post by kissmyjazz on Sept 25, 2016 13:27:58 GMT
Back it up with what? if you look at the statistics page then Hipocredit and Capitalia are two worst performers with about the same size of defaulted or 60+ late loans. Yet Capitalia has 5% skin in the game while Hipocredit only 2%. How does this difference between originators protects me as an investor? I my understanding the loan performance does not warrant the special treatment for Hipocredit. As their loan are longer in duration, I expect more defaults to accumulate over time.
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Post by kissmyjazz on Sept 24, 2016 2:24:14 GMT
Now that the Hipocredit loans started to default left and right, the decision the reduce their skin in the game clearly stands out as the stupidest and the most reckless decision Mintos has made so far. I hope they have learned from such blunder. My confidence in the company has clearly taken a dive.
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Post by kissmyjazz on Sept 12, 2016 3:38:00 GMT
I agree that more information on the originators should be provided to the investors. However, if you look at the corruption scores provided by Transparency International, then there are parts of the EU (e.g. Bulgaria, Romania) with higher corruption scores than Georgia. Georgia has been quite successful in the recent decade in becoming more transparent and well-policed country, so I think it is unfair to discount companies working there simply because it is not part of the EU.
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Post by kissmyjazz on Aug 29, 2016 10:03:00 GMT
Not only is it a Mogo-land, but now also without the buyback guarantee. Enjoy the ride, ladies and gentlemen!
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Post by kissmyjazz on Aug 27, 2016 0:01:18 GMT
Martha, how can you say something like that to the investors and expect them to take Bondora seriously. Bondora willingly pisses away 2/3 of the investors' money to some parasitic DCA while there is perfectly established and much cheaper system for debt recovery called courts. The legal system might be slower, but I least I would be confident that Bondora has signed a valid contract with a real person and the debts of that person are legally recorded and pursued by all legal means necessary. If Bondora refuses to go to the court first with every debtor then I can only conclude that either Bondora is not sure in the validity of the contract or Bondora has simply failed its role as a responsible custodian of investors' funds. Either way Bondora opens itself up to litigation from the investors' side. I hope such litigation is forthcoming.
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Post by kissmyjazz on Aug 25, 2016 12:32:33 GMT
So where are all the payments then that I was due meanwhile? Nothing yet has posted to my account.
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Post by kissmyjazz on Aug 23, 2016 14:41:17 GMT
Btw, it looks like Hipocredit and Banknote have pulled their loans from the primary market and are no longer listed among originators.
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Post by kissmyjazz on Aug 23, 2016 13:55:49 GMT
That is true, but just two days ago someone else(?) was selling a bunch of Mogo loans at 3% discount. Usually they go easily for 1 - 2% discount.
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Post by kissmyjazz on Aug 23, 2016 13:43:00 GMT
Thanks for notifying us! Either someone needs the money real quick or Mogo is going under.
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Post by kissmyjazz on Aug 11, 2016 8:00:53 GMT
Interest rate difference with the Mogo loans offering the buyback guarantee is too small for me to bother investing in the unguaranteed loans.
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