ozboy
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Post by ozboy on Feb 21, 2018 21:36:07 GMT
OK, I have 40 Loans Overdue/Defaulted, the accumulated value of which is 14.2% of my Investment Total, which is lowish five figures.
I find Unbolted's site VERY unwieldy and am trying to understand Loan 2DFDC3881 in particular, which appears to have suffered a substantial loss? Being the usual numpty at fathoming UNB's site I'll phone them tomorrow for clarification.
One strange thing which I noticed is a few Loans with "No Contact" but which had been "Forebeared" or whatever UNB call it, why would you extend a Loan if there's no contact with the Borrower!? I've probably got that wrong too.
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madpierre
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Post by madpierre on Feb 22, 2018 8:40:31 GMT
OK, I have 40 Loans Overdue/Defaulted, the accumulated value of which is 14.2% of my Investment Total, which is lowish five figures. I find Unbolted's site VERY unwieldy and am trying to understand Loan 2DFDC3881 in particular, which appears to have suffered a substantial loss? Being the usual numpty at fathoming UNB's site I'll phone them tomorrow for clarification. One strange thing which I noticed is a few Loans with "No Contact" but which had been "Forebeared" or whatever UNB call it, why would you extend a Loan if there's no contact with the Borrower!? I've probably got that wrong too. The thing about Unbolted is that we're all pretty much in the same loans, so knowing ozboy is on the case is very reassuring
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stub8535
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Post by stub8535 on Feb 22, 2018 9:38:25 GMT
OK, I have 40 Loans Overdue/Defaulted, the accumulated value of which is 14.2% of my Investment Total, which is lowish five figures. I find Unbolted's site VERY unwieldy and am trying to understand Loan 2DFDC3881 in particular, which appears to have suffered a substantial loss? Being the usual numpty at fathoming UNB's site I'll phone them tomorrow for clarification. One strange thing which I noticed is a few Loans with "No Contact" but which had been "Forebeared" or whatever UNB call it, why would you extend a Loan if there's no contact with the Borrower!? I've probably got that wrong too. On the forebear issue ozboy it may be that ubl are signalling when the next stage of chase up is due within their framework. Looking forwards to your report back. My hand held devices, being none apple products, fail to show me the loan numbers on the default page so I can't see if the one you mentioned is one I queried b4.
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Post by pmjenkins on Feb 22, 2018 13:12:38 GMT
My wife and I opened Unbolted accounts on July 31st and August 29th respectively and have gradually invested £5,000 each.
I have no overdue loans while my wife has 11, all taken out between Aug 3rd and Aug 18th last year (2DFDC3989, 2DFDC3A15, 2DFDC3A27, 2DFDC3A28, 2DFDC3AC3, 2DFDC3ACA, 2DFDC3A5A, 2DFDC3A16, 2DFDC3AD9, 2DFDC3A55, 2DFDC39C6)
Does this seem a bit strange?
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p2pmark
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Post by p2pmark on Feb 22, 2018 14:23:48 GMT
My wife and I opened Unbolted accounts on July 31st and August 29th respectively and have gradually invested £5,000 each. I have no overdue loans while my wife has 11, all taken out between Aug 3rd and Aug 18th last year (2DFDC3989, 2DFDC3A15, 2DFDC3A27, 2DFDC3A28, 2DFDC3AC3, 2DFDC3ACA, 2DFDC3A5A, 2DFDC3A16, 2DFDC3AD9, 2DFDC3A55, 2DFDC39C6) Does this seem a bit strange? The loans are normally for six months. So your loans haven't had a chance to default yet.
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marka
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Post by marka on Feb 22, 2018 16:08:08 GMT
My wife and I opened Unbolted accounts on July 31st and August 29th respectively and have gradually invested £5,000 each. I have no overdue loans while my wife has 11, all taken out between Aug 3rd and Aug 18th last year (2DFDC3989, 2DFDC3A15, 2DFDC3A27, 2DFDC3A28, 2DFDC3AC3, 2DFDC3ACA, 2DFDC3A5A, 2DFDC3A16, 2DFDC3AD9, 2DFDC3A55, 2DFDC39C6) Does this seem a bit strange? The loans are normally for six months. So your loans haven't had a chance to default yet. and those have continue up to the 6 month limit don't tend to settle on the day, but over the course of the next week or three once chased up.
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ozboy
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Post by ozboy on Feb 22, 2018 16:24:33 GMT
Just spoke with UNB:- 2DFDC3881 is Extending (“Forbearance”) as the Borrower has made contact and intends to Redeem. Extensions are granted depending on how well UNB know the Borrower, their track record, etc. Yes, “Forbearance” means an Extension. “No Contact” was a default setting and it does not necessarily mean there has been no contact with the Borrower. This has been fixed. There is currently no Search facility and it is now on The List. There is currently no facility to download a Spreadsheet of your Loans, now on The List I trust all the foregoing is clear enough - Cheers, all you collective Big Ears!
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Ukmikk
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Post by Ukmikk on Feb 22, 2018 18:11:41 GMT
Thanks ozboy. Did your enquiry reveal, does an extension include additional interest being paid for the additional period of the loan? Cheers.
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ozboy
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Post by ozboy on Feb 22, 2018 18:35:36 GMT
Didn't ask but will email 'em now and enquire. AFAIK we only receive the "normal" interest paid to us anyway from an extension. (?)
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stub8535
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Post by stub8535 on Feb 22, 2018 21:29:13 GMT
Didn't ask but will email 'em now and enquire. AFAIK we only receive the "normal" interest paid to us anyway from an extension. (?) Calculations from past latest show that interest is paid for the late days iirc.
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stub8535
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Post by stub8535 on Feb 22, 2018 21:30:59 GMT
Didn't ask but will email 'em now and enquire. AFAIK we only receive the "normal" interest paid to us anyway from an extension. (?) Calculations from past latest show that interest is paid for the late days iirc. Oh, and thanks Ozboy. Great digging with your didgery doo!(sic) 😁
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ozboy
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Post by ozboy on Feb 22, 2018 21:55:33 GMT
Sorry, I meant I will ask if UNB charge, and we receive, a higher (than normal/quoted) interest rate during the extended period.
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stub8535
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Post by stub8535 on Feb 22, 2018 21:59:11 GMT
Sorry, I meant I will ask if UNB charge, and we receive, a higher (than normal/quoted) interest rate during the extended period. I think it's just standard rate they charge on later ozboy. They are not FS or Rebs😁
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ozboy
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Post by ozboy on Feb 23, 2018 9:18:24 GMT
"There is no additional interest charged on default or extension. We are lending to liquidity constrained consumers, often in financial difficulties, and we provide the extensions as part of normal forbearance policies. In any case it is better for lenders as well, if with an extension, borrowers can repay the loan, rather than enforce the security."
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Ukmikk
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Post by Ukmikk on Feb 23, 2018 22:51:04 GMT
Does this mean they get free credit for the period of the extension? Am I understanding this correctly? I didn't expect a higher rate of interest to be applied but would have thought that interest would continue to accrue on the loan, at the same rate, until it is finally repaid.
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