jay
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Post by jay on Jun 1, 2015 22:54:06 GMT
Reading people comment on the wiseed facebook: "Ne respectent malheureusement pas leurs engagements concernant les souscriptions immobilières (souscription validée, et puis on vous dit une semaine plus tard 'ah non, désolé, trop d'investisseurs donc on vous vire du projet!!). J'ai cessé d'investir avec eux, leur manque de respect de l'investisseur malgré leurs beaux discours ne m'inspirant pas."
From what I read, they don't respect customers much , not fulfilling their obligations . The guy subscribed to their housing plan , subscription validated, then he was ejected from it cause of too many investors were on the project.All of this does not seem too professional.
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jay
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Post by jay on Jun 1, 2015 22:49:57 GMT
So is there a credible English-language Euro-based alternative to Bondora? I have been very unhappy with them of late, but there is no alternative I have spotted as of yet. Not really I've put a chunk into Mintos with their guaranteed car loans Trustbuddy still a struggle, (unconvincing in my view) and actually not really Euro, it's more NKR SKR DKR Unilend - no q&a and potted accounts, it's a shame because I think they have very low default rates. I'm sort of thinking I'll put small amounts into everything. Sorry it's French Pretdunion also French, a little bit like zopa/ratesetter but much lower rates, 3-4% also French Wiseed & Anaxgo property development, I don't understand them If you want some info about French P2P I can help you to not waste time and money . Pret d'union is indeed too low to consider, unilend i've read on my French forum about it, and the capital default is higher than the interest perceived for many people with zero hope of any recovery,risk of default getting higher each year of course . Its about lending strictly to business: when a factory close theres not much to seize and of course the state come first. if one company ask for p2P funding and not to the bank usually there's a reason .Tbh from what I've read better avoid completely . Wiseed that's more about militantism, eco friendly stuff, startups, you know the usual stuff failing 3 on 4 . Is it serious investment ? I don't know , ive not heard anything horrible about them yet..YET. I bet it will disappoint too as always.
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jay
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Post by jay on May 22, 2015 12:49:15 GMT
I'm really dissapointed by Bondora and it would be just waste of time to explain why. Guys, is there any alternative where I could invest decent money in Euro currency? Thx.
No need to explain , we are well aware of why, abyssal amount of default , dodging questions , even the autofiller don't work on the main page... As of an alternative I would not invest in any P2P platform anymore , bondora vaccine me from P2P , next time I have idle money I'd rather give it to help Nepal reconstruction than wasting it here. But my brother is trying lendico ,and doesn't encounter the same disaster than me , so for now its maybe better, you have to do your homework and check statistics yourself . I've been told when people ask for a loan they have to write a small text to explain why. You can learn a lot about someone with just a small text. So maybe its a better alternative, the ROI is not very exciting , however its maybe a true ROI. Trust me i've read many forums in many languages , I have lot of time, I've not found anything exceptional.Quite often the interest received is inferior to the principal default.
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jay
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Post by jay on May 15, 2015 1:34:05 GMT
Yes james I should be more careful with my words and not put our host at risk, especially when the facts speaks for themselves.As for the specific case you mention that 59 year old women ends up with a total of 1.3 millions debts over many platforms and banks , yes million that's not a typo.That was an income and expenses verified loan.... Not even an hand picked loan but something the automatic portfolio gave to people . So if stuff like that can get through their verification process, i am really worried by the kind of things, I would not even call them investments anymore at this point, that I may have in my portfolio. 1.3 million?!!! That's the sort of thing that might make a post about this interesting in the general P2p discussion section. I haven't heard of an unsecured consumer lending case anywhere remotely close to that amount. I'm not unhappy that I've stopped new lending at Bondora. Just that I didn't do it three to six months earlier. I'll probably come out with a profit as long as the company remains in business for 18-24 more months or if it doesn't and repayment collection work continues. At the moment I have roughly £16000 invested, £7,000 taken out and about £1000-1300 a month being taken out. Bondora's reporting an over 25% return for me still, which isn't too bad as a measure of my ongoing mean interest rate in Euros. Yes the post is on offical boards ,the irrevocable final default thread, its worth reading. I dont have that loan so i cant verify myself.
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jay
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Post by jay on May 12, 2015 13:08:42 GMT
Yes james I should be more careful with my words and not put our host at risk, especially when the facts speaks for themselves.As for the specific case you mention that 59 year old women ends up with a total of 1.3 millions debts over many platforms and banks , yes million that's not a typo.That was an income and expenses verified loan.... Not even an hand picked loan but something the automatic portfolio gave to people . So if stuff like that can get through their verification process, i am really worried by the kind of things, I would not even call them investments anymore at this point, that I may have in my portfolio.
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jay
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Post by jay on May 2, 2015 16:26:52 GMT
Well if one of my post is judged as diffamatory , feel free to edit it . I would edit don't believe their **** by don't put too much trust in their overenthusiastic marketing of excellent returns ...
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jay
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Post by jay on May 2, 2015 12:55:37 GMT
You forget the last expansion in the slovaquia market, with its outstanding 90% of default. I am losing money but with such practices there will be losing way more money than me and likely will go bankrupt, theres only half the number of loan filled compare to last months. They should offer to buy out those new market defaults if they want to keep some credibility.They never even apologized about it ! Right now I advise everyone to avoid this platform like plague , don't believe their ****.
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jay
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Post by jay on Apr 28, 2015 15:00:32 GMT
..... Still no recovery from spain and slovakia I've got 10 Spanish loans making small (but regular) payments and 3 fully paid off which is a big improvement over the last couple of months.
I've even got 2 Slovakian defaults that have made payments after default.
Whilst recoveries take a long time to take place I have noticed an improvement recently, they even raised my overall return by 0.18% last month!
Amongst all of my slovakia loans i got one who paid in full after default, was some young woman and travel purpose. I suppose her parents or relatives paid for it .Gotta watch all of them very carefully to see if theres repayment, very time consuming and ultimately disapointing .
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jay
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Post by jay on Apr 26, 2015 22:16:03 GMT
It's probably like james said, another attempt to lure us to use their portfolio full of juicy spanish and finnish loans(they removed slovakia right?) .First thing i did today was withdrawing the little money repaid, in case they get desesperate enough to activate the new portfolio on everyone by mistake. You never know what can happen with them nowadays . Still no recovery from spain and slovakia worse investment i made ever in my life.
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jay
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Post by jay on Apr 6, 2015 15:39:15 GMT
Not only they have been removed, but i cannot see slovakia in my already existing investments filter either . Does that means they will buy them back?Will we be reimbursed ? ...Could always been dreaming but since they got 5 millions recently they could use some of that.
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jay
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Post by jay on Apr 6, 2015 13:19:59 GMT
Oh Dear. I have only just seen this thread. I sent a reasonably large sum to Bondora a month or so back as I like the fact the Euro had moved and figured it a reasonable investment if the Euro strengthened again. How much of a return do we think people are actually getting?
Current 10483.56€ Overdue 2498.71€ 60+ days overdue 9.79€
I am quite alarmed at how high my overdue is as I have only been on here for a month or two. It says I am getting over 15% return but the alarming rate that my overdue have been accelerating is quite worrying. Should I just sit tight? Obviously I bought Euros at a reasonable rate which was partly my reason for investing as a kind of double return if the Euro comes back Welcome aboard! You were expecting a luxury cruise on the baltic sea with a 20% ROI like advertised, unfortunatly you are chained with an old french in tattered clothes on the galley and more likely will get a -25% ROI too... Last time i had loan defaulting that fast that were the slowakian loans and some of the spanish loans too, i could be wrong of course but you should check the nationality . Nothing you can do i am afraid, most of them will end up in the +60 days overdue folder wich is according what i read all over the place means write of. You could try to put them on sale on secondary market but no one is dumb enough to buy defaulted loans even with a big discount since theres few hope of recovery. I invested in bondora after reading wiseclerk blog , sounds a serious business , with good practices, alas it looks like it was from an old forgotten golden age and not the same bondora i am dealing with now. They expanded too much into new markets testing with our money it seems. Thats speculation, but what else do we have since they are playing ostrich the head in the sand , and never communicating with us anymore , ignoring boards. Another thing in favor of bondora is the fca regulation, it added a bit of credibility in my eyes. How naive i was , sounds like its very easy to get those licenses theres no control. For example, when you apply to lend money , if the loan is canceled they give you back your own money , its considered as repaid money, wich artifically boost your ROI, so none of the data is of any value. I am baffled those kind of practices are legal... This is my first and last experience with P2P lending , i wont be caught again, will lose already far too much.
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jay
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Post by jay on Feb 25, 2015 0:45:33 GMT
Done so, i dont want to have you deported and jailed in some dirty estonian prison ! Although according the delay to recover funds , i think you are not risking much from them.
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jay
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Post by jay on Feb 25, 2015 0:18:28 GMT
Ah well...thanks for answering but you got me even more worried. ... Now what can we do ? you might be able to sell some loans for less than the average loss you expect from them. Or not. If so, you might be able to stomach doing that. Or not. Its impossible to sell 60+ days defaulted loans on bondora so its already too late for that.
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jay
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Post by jay on Feb 24, 2015 22:36:00 GMT
Ah well...thanks for answering but you got me even more worried. Looking at my slovakian loans most are defaulted but did small payment, very small payments.Those not paying anything at all are in the minority. Obviously its not only us on this forum having this problem , on german boards, its seems as catastrophic : www.p2p-kredite.com/diskussion/slowakei-t2135.html Now what can we do ?
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jay
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Post by jay on Feb 24, 2015 0:06:03 GMT
Much the same here. Only I'm gloomier still. I feel that even if they do reintroduce selection by country, and they have promised they will with the API, I don't see this will help. My much simplified take is thus - Estonia and Spanish loans paid 25%. After defaults, they yielded 20% and 5%, respectively. Most of us got burnt by the spanish loans, so after a transitory dip we were principally buying Estonian - portfolio yield 20%. Estonian loans now yield 20% and Spanish loans 35%. After defaults they will both yield 15%. Thus with or without country selection - portfolio yield 15%. 15% is still more than you can get most other places, and with Bondora you also get diversification of currency and geographic risks, but it's not easy to come to terms with such a big drop in return. 20% was too good to last. Nonetheless, I'm still in mourning. Estonia loans yielding 15% after default i can see that, but spain ? Raising their interest rate to 35% wont make them 15% after default, they already do not bother to pay , higher interest rate will get same results or worse.As for right now if you are getting your capital back on spain you can consider yourself lucky. The country filter is absolutely needed as any investment outside estonia is risky with zero collection, we dont even know if they fill the court papers right. Oh my educated guess is they f****d up on that too...Lets be honest, putting any money in those right now is madness. It just seems too easy to ask for a loan at bondora and just walk away , those loans were of a few thousands euros each, 6000-7000 euros each ,now thats profitable . Lucky guys! much easier than bank robbery and bondora are taking a share of it. I cant say i am very happy with how bondora treat its customers either, no more communication on boards, except a bot answering that they dont monitor them.... That and removing the country selection on portfolio,testing with our money and hiding the true default rates , camouflaging bad results, they are insulting our intelligence. All of this is borderline scam.
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