IFISAcava
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Post by IFISAcava on Mar 13, 2019 11:48:04 GMT
Seems to have been a recent run of loans with lost interest after auction.
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Post by dan1 on Mar 13, 2019 12:41:37 GMT
A sale by auction from default of a Ball World Timer (a watch I guess, my ignorance is boundless ) resulting in a loss of interest unbolted.com/uk/lenders/view-loan/1574/Contribution from trusts £20.00 Lender Interest Loss £67.87 A sale by auction from default of a Panerai Base Luminor resulting in a loss of interest unbolted.com/uk/lenders/view-loan/1413/Contribution from trusts £0 Lender Interest Loss £12.05 Edit: it appears that I "lost" 4p in this loan A sale by auction from default of a Breitling for Bentley Barnato resulting in a loss of interest unbolted.com/uk/lenders/view-loan/1881/Contribution from trusts £0 Lender Interest Loss £172.88
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Post by dan1 on Mar 13, 2019 13:06:01 GMT
Seems to have been a recent run of loans with lost interest after auction. I only post lost interest loans I'm in so please let me know the loan # of any others, thanks.
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IFISAcava
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Post by IFISAcava on Mar 13, 2019 13:58:47 GMT
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IFISAcava
Member of DD Central
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Likes: 2,988
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Post by IFISAcava on Mar 13, 2019 13:59:28 GMT
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amwinv
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Post by amwinv on Mar 13, 2019 16:30:20 GMT
I dont get this one. Cash received by borrower - £1725.00 sales after default - £925+£455 = £1380 But it states lender principal loss £0 and contribution from trusts £0. Surely the provision fund has covered the missing £345 of capital?!!? Also £600 "lost interest" for borrowing £1800 for a year at 0.85% p/month isnt anywhere near right. Have they counted the missing capital as "lost interest"?!??
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treeman
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Post by treeman on Mar 13, 2019 16:58:51 GMT
I dont get this one. Cash received by borrower - £1725.00 sales after default - £925+£455 = £1380 But it states lender principal loss £0 and contribution from trusts £0. Surely the provision fund has covered the missing £345 of capital?!!? Also £600 "lost interest" for borrowing £1800 for a year at 0.85% p/month isnt anywhere near right. Have they counted the missing capital as "lost interest"?!?? Queried with UNB yesterday. An extra payment was made today as 'loan fees' on this loan - effectively the Provision Trust making up the capital loss.
So for lenders - all repayments made + Interest received = original allocation.
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IFISAcava
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Post by IFISAcava on Mar 13, 2019 17:06:47 GMT
I dont get this one. Cash received by borrower - £1725.00 sales after default - £925+£455 = £1380 But it states lender principal loss £0 and contribution from trusts £0. Surely the provision fund has covered the missing £345 of capital?!!? Also £600 "lost interest" for borrowing £1800 for a year at 0.85% p/month isnt anywhere near right. Have they counted the missing capital as "lost interest"?!?? something odd - but I have a separate entry for this loan called "loan fees" that essentially covers all but 0.01 of the missing capital. All interest lost though.
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amwinv
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Post by amwinv on Mar 13, 2019 17:45:48 GMT
Thanks treemanSo the "contribution from trusts" column is just there for sh*ts and giggles in UNB's eyes? Never to be actually used, so that we cant keep an eye on what they're up to? Bloody platforms.
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treeman
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Post by treeman on Mar 13, 2019 18:00:07 GMT
Thanks treeman So the "contribution from trusts" column is just there for sh*ts and giggles in UNB's eyes? Never to be actually used, so that we cant keep an eye on what they're up to? Bloody platforms. From Ashwin yesterday:
You are not wrong. We are in the process of making a provision trust payment on the loan as well. The payment should have been processed yesterday but was not due to systems reasons. You should see the full payments on the loan by day after tomorrow at the latest.
And today:
An extra payment has been credited to lenders. The situation should now be resolved.
Looks like a tech stuff-up on this one.
Trusts is real - I've had loans showing a 'contribution from Trusts' before. eg 2DFDC4438 and 2DFDC44DE
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Post by dan1 on Mar 13, 2019 21:36:03 GMT
A sale by auction from default of A single stone diamond ring, GIA cert resulting in a loss of interest unbolted.com/uk/lenders/view-loan/1892/Contribution from trusts £0 Lender Interest Loss £0.41
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Post by dan1 on Mar 13, 2019 21:44:30 GMT
Thanks treeman So the "contribution from trusts" column is just there for sh*ts and giggles in UNB's eyes? Never to be actually used, so that we cant keep an eye on what they're up to? Bloody platforms. From Ashwin yesterday: You are not wrong. We are in the process of making a provision trust payment on the loan as well. The payment should have been processed yesterday but was not due to systems reasons. You should see the full payments on the loan by day after tomorrow at the latest. And today:
An extra payment has been credited to lenders. The situation should now be resolved.
Looks like a tech stuff-up on this one.
Trusts is real - I've had loans showing a 'contribution from Trusts' before. eg 2DFDC4438 and 2DFDC44DE....for completeness/OCD.... A sale by auction from default of: - Anya Hindmarch Giant Pixels Leather - Christian Dior Christal Ladies 2007 - Audemars Piguet Promesse Ladies 2005 ....resulting in a loss of interest unbolted.com/uk/lenders/view-loan/1474/Contribution from trusts £396.75 (derived from initial loan inc setup fees £1,776.75 - sales of assets (£925.00 +£455.00)) Lender Interest Loss £609.91
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benaj
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Post by benaj on Mar 17, 2019 11:06:59 GMT
I only have 9 months on Unbolted, it seems I must have been unlucky with my investment.
So far I had 8 defaults (9 months) from the Provision Trust compared to 22 defaults (since Lanuch)on the platform since launch. The positive, no capital loss on provision trust investment. I also have 23 loans overdue compared to 60+ odd on the platform.
It seems the ratio (defaults:overdue) of my parts are similar to the platform, any comments?
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agent69
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Post by agent69 on Mar 17, 2019 12:04:39 GMT
I note there is an overdue tab on the UB site, but what happens when they have exhausted the recovery process?
I am in 2DFDC49CA (a collection of photographs), which has been partially repaid, but I can't see anywhere that tells you whether recovery is ongoing, or if the loan is now dead?
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picnicman
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Post by picnicman on Mar 17, 2019 13:36:41 GMT
I note there is an overdue tab on the UB site, but what happens when they have exhausted the recovery process?
I am in 2DFDC49CA (a collection of photographs), which has been partially repaid, but I can't see anywhere that tells you whether recovery is ongoing, or if the loan is now dead?
agent69 - according to my overdue loans page, this loan has been forborne to 21st May, when they will be offered for sale via an on line sale by Forum Auctions. I assume your overdue loans page must say the same? - anyway hope this helps - Cheers P
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