upland
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Post by upland on May 9, 2021 18:09:22 GMT
So is it just there for information purposes and does not get into the tax return ? That would depend how you have treated the relevant loans previously. If you have claimed the losses already then you can't claim them again, if you haven't then it effectively gives you another chance. Many thanks ilmoro. I seem to have a lot of messy stuff to account for with my p2p investments which is a great shame. So unlike 5 years ago when p2p was seeming to go somewhere.
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upland
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Post by upland on May 8, 2021 16:01:50 GMT
So is it just there for information purposes and does not get into the tax return ?
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upland
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Post by upland on May 8, 2021 13:41:50 GMT
Does anyone know what these negative shield contribution adjustments correspond to in the usual tax return that we make ?
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upland
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Post by upland on May 8, 2021 11:52:58 GMT
I have asked similar questions of LendingWorks but am little the wiser. I have trouble understanding what they are on about and they often seem quite upbeat which annoys me as I see this as a monumental disaster that the original offer with insurance and shield etc suggests would not happen (to me at least). As it does not seem to have happen at Ratesetter and Zopa I have concluded that this is not a place to be.
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upland
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Post by upland on May 7, 2021 6:18:27 GMT
Hard to imagine either would happen from the "Fair and simple platform" I have been with LW since 2018 and I am now trying to get my head around what it going on. I have found that their customer service talks jargon and indeed a "Fair and simple platform" is now just what it is not. I seem to have made nothing for this last year and I have some sort of losses. Nothing like this from Z and RS.
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upland
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Post by upland on May 5, 2021 12:15:51 GMT
I have money on offer waiting to be invested since 6th April 2020, I thought this would be at the front of the queue when lending started again in January but as yet it is still waiting. I thought that keeping some there would put me at the head of the Q but they never were lent out and I eventually reduced the money looking for a deal to a few bits to keep an eye on the situation. It is just sitting there. I am staggered that I am still earning trivial / interest and the capital sum kept getting lower. I am backing out of LW. The annual statement seems to have some sort of irrecoverable losses called shield contributions. I had similar sums with RS and Z and they have both come through in the black.
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upland
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Post by upland on May 3, 2021 12:00:06 GMT
Please add me to your list. Thanks.
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upland
Member of DD Central
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Likes: 175
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Post by upland on Mar 24, 2021 19:32:01 GMT
Arrrgh!, and on it goes. Update just received via email. Even if the next round is won, the borrower can bring his main claim back afterwards! This one single borrower can string this along for years! That's just one of the many problems with P2P, imagine if all the borrowers did this. The model is completely broken. Costs racking up, Moneything was forced into administration because of one case. How was this ever allowed to be marketed at retail investors. Good luck to the corporate investors in the next round. I felt when the Lendy thing happened that it would have been very good for the industry if they had all put funds into fighting and winning the case there and then and resoundingly so in order to "deter the others". That didnt happen and many of the early names are now gone no doubt helped on by this additional nail in the coffin. It certainly speeded up my pull back from many platforms as a result. I dont expect that my Unit Trusts will try to sue me and I would have hoped that the p2p offers had a legal structure that would have made this sort of thing impossible. I also dont expect that when I buy apples that I am not sued by somebody in the woodwork. But then the supermarkets are aware of that and try to keep the customer happy.
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upland
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Post by upland on Jun 2, 2020 7:06:16 GMT
I have been unable to get it to send me a code for two days now.
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upland
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Post by upland on Feb 12, 2020 7:40:41 GMT
He has done a lot of damage though.
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upland
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Post by upland on Jan 23, 2020 6:59:47 GMT
I just want unbolted to claim all costs and expenses against the borrower I would like Unbolted to go after the borrower for their commercial loss and damage to their business.
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upland
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Post by upland on Jan 22, 2020 8:07:20 GMT
Worth revisiting this Topic, seeing as many of us I am getting out of Dodge. I still favour Fundsmith, various Vanguards and their ilk, but wonder if there's summit else out there? P2P could have been SO good. Indeed it could. I have a bit of faith in some of the remaining players to make me a return better than the banks. However its been a rapidly changing feast and I have culled over half of my original p2p accounts. I doubt that it has run its course yet and new horrors may emerge but also so could reasonable situations. Locating them will not be easy.
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upland
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Post by upland on Jan 19, 2020 7:21:37 GMT
Much of this problem could be resolved by having an "Are you honest" tick box on the FC loan application.
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upland
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Post by upland on Jan 18, 2020 9:52:06 GMT
Many thanks , its always good to see how ones charitable donations have been used.
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upland
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Post by upland on Jan 18, 2020 8:19:08 GMT
Indeed monetus your health is more important than p2p & money , you have done the right thing. Thank you for all of the very considerable work that you have done in this area.
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