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Post by ogwellian on Mar 15, 2017 12:20:19 GMT
Well Kev ... Zopa can't have been trying that hard to impress. Defaults (two accounts)... December -£30, January -£157.62, February -£146.09. What really annoys me is that most of the defaults are in units of £10 ie without a single penny having been repaid. I'm still happy and not reducing my holdings, but it is a concern that over a quarter of my defaults have not repaid a penny and the majority of the others just one payment. What exactly do Zopa do to recover these losses?
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Post by ogwellian on Mar 11, 2017 9:23:51 GMT
Looks like March is going bad too.
It was all going so well until I looked this morning. £50 interest and four defaults of nearly £40 on one account. Second account, £50 interest and one default of a few pence short of £10.
So approximately half of March's interest gone already.
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Post by ogwellian on Mar 6, 2017 13:20:20 GMT
You can guarantee £10 parts if you invest lump sums less than £2,000 and, I assume, your total to be matched remains below £2,000.
It would be useful to be able to specify loan part size, regardless of investment amount.
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Post by ogwellian on Feb 28, 2017 11:32:30 GMT
I've only had five defaults on one of my accounts, but unfortunately two are from when I first started Z+ and my large initial investment bought large 1% shares.
So I've lost £112.90 on two £60 parts and only £29.48 on three £10 parts.
Three of the five made no repayments, and all the loans were taken out between April 25th and May 5th.
Zopa told me that the three with no repayments (dated 27/04, 28/04 and 5/5) were from the same area, but they found no evidence of fraud.
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Post by ogwellian on Feb 23, 2017 10:48:04 GMT
Bad month here, too. Two accounts, all income reinvested.
Balance £7,613. £54.87 - £52.90 = £1.97
Balance £10,042. £67.10 - £26.98 = £26.98
£28 on £17,600 over 23 days is way below expectations and a bit worrying. Too many loans defaulting without making any repayments.
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Post by ogwellian on Dec 1, 2016 10:12:44 GMT
In hindsight I wished I had invested in smaller chunks. I put in £6,000 in one go on one occasion which bought £60 chunks, Now I only put in enough to buy £10 pieces.
I had three defaults one month, that wiped out all but £1 of my interest. All three loans didn't have a single monthly repayment. I would have been happier losing £30 rather than £80.
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Post by ogwellian on Nov 30, 2016 7:35:34 GMT
Can't log on this morning. Chrome on Android tablet.
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Post by ogwellian on Nov 10, 2016 12:13:15 GMT
I've had my first three defaults in Plus this month and they've wiped out £80 of my monthly £81 interest. A £60 loan (when I invested a £6,000 lump sum) and two £10 ones (bought with a £1500 investment). All three have not made a single payment!!! Surely, taking out a loan and not paying a penny back is tantamount to fraud? I spoke with Zopa today about my three defaults. I'm now convinced it's fraud as all three were taken out within a few days of each other and Zopa confirmed (as much as they could) that the three borrowers were from the same area. The loans are below average in size, £1k, £4K and £5k, so I expect they won't get to the top of the recovery in-tray. Personally, I think there should be a fraud contingency fund to repay borrowers who are duped like this. Zopa are escalating my concerns to the recovery and fraud teams.
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Post by ogwellian on Nov 8, 2016 10:39:20 GMT
I had a Faster Payment credited to my plus account yesterday at 5.01pm. Already been matched and lent out.
Had another FP credited at 9.11am today, I'll let you know when it gets lent.
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Post by ogwellian on Nov 1, 2016 22:24:43 GMT
For the last two years I've had no problem logging in with Chrome on my Android tablet, but for the last month or so it keeps reverting back to the log in page, with no error message.
Installed Dolphin, which I just use for RateSetter, and no problems.
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Post by ogwellian on Oct 17, 2016 8:15:58 GMT
Sold this one last week as part of my exit strategy. Apologies to whoever bought it.
Over 10% of the companies in my original £1,150 investment + bonuses, gone bad now.
Luckily, still in profit (saved by the cashback).
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Post by ogwellian on Sept 25, 2016 10:13:48 GMT
The notes for my three defaults are:-
[23/09/2016]Set to default status[27/08/2016] Borrower has been notified of missed payment.[14/08/2016]Arrears sent external to CRS[27/07/2016] Borrower has been notified of missed payment.[27/06/2016] Borrower has been notified of missed payment.[27/05/2016] Borrower has been notified of missed payment.
[23/09/2016]Set to default status[28/08/2016] Borrower has been notified of missed payment.[28/07/2016] Borrower has been notified of missed payment.[29/06/2016] Borrower has been notified of missed payment.[28/05/2016] Borrower has been notified of missed payment.
[23/09/2016]Set to default status[05/09/2016] Borrower has been notified of missed payment.[05/08/2016] Borrower has been notified of missed payment.[06/07/2016] Borrower has been notified of missed payment.[05/06/2016] Borrower has been notified of missed payment.
Not a lot of action!!
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Post by ogwellian on Sept 24, 2016 16:43:35 GMT
I've had my first three defaults in Plus this month and they've wiped out £80 of my monthly £81 interest.
A £60 loan (when I invested a £6,000 lump sum) and two £10 ones (bought with a £1500 investment).
All three have not made a single payment!!! Surely, taking out a loan and not paying a penny back is tantamount to fraud?
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Post by ogwellian on Sept 22, 2016 12:08:09 GMT
I only buy batches of C and D loans. Sell them at par a day before the third payment due and they go almost instantly. No losses yet, not very time consuming and a healthy return.
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Post by ogwellian on Aug 31, 2016 7:43:42 GMT
It's clearly stated in the RCC loan documents.
This is a business loan by a new company which has common ownership with those behind A**** E******* (current borrower with regards to loan numbers prefixed with ‘AE’).
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