aju
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Post by aju on Nov 30, 2017 14:53:16 GMT
Very curiously I think summary page has changed recently to remove bad debt values from the main amounts.
I noticed this from sudden drop in PreSafeguard amount. Outstanding amount is in fact £144 but the amount that is reported in summary is £16. Adding up all the values it seems that summary thinks I have £220 bad debt - It says so under the earning ? button.
For me bad debt is still a part of my investment its just that its now bad debt and may or may not be recoverable. I wonder why Zopa has removed it from the investment page. does it make things look better that suddenly I might or might not be down >£200.
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mary
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Post by mary on Nov 30, 2017 16:22:27 GMT
Very curiously I think summary page has changed recently to remove bad debt values from the main amounts. I noticed this from sudden drop in PreSafeguard amount. Outstanding amount is in fact £144 but the amount that is reported in summary is £16. Adding up all the values it seems that summary thinks I have £220 bad debt - It says so under the earning ? button. For me bad debt is still a part of my investment its just that its now bad debt and may or may not be recoverable. I wonder why Zopa has removed it from the investment page. does it make things look better that suddenly I might or might not be down >£200. This was "announced" cryptically and reported here... www.p2pfinancenews.co.uk/2017/11/24/zopa-default-plus/Seems too too many people have been distracted by the rising defaults, and so they felt the need to make it not so obvious.
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aju
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Post by aju on Nov 30, 2017 17:13:00 GMT
I read that but didn't really see there was any reason to mask off defaults from my summary screen in this way. In fact the defaults are clearer at the detailed level in the statements screen and to my knowledge they have not been changed to remove more damning defaults info.
For me even when a contract moves into default its not a done deal that its lost. Agreed I personally mask it off and then ignore it but not as part of my overall investment. I can't see any reason that that money is no longer still mine just because the borrower is not paying it at the moment. As a result I cannot see why its been moved out of the summary page other than Zopa is tweaking on live data before it's fully developed.
At the moment my data in the summary is not accurately reporting how much money there is in my investment and I guess anyone else who has any defaults. I did have a look at the statements total to date to see if that was the cause - after all zopa has had an issue that the data does not line up to summary but that is still out by 20p so it's getting close. For me though when its 100% then the Summary page has to declare the Bad debt as an on screen item as well other wise it really doesn't make sense.
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Post by misotu on Dec 3, 2017 16:49:01 GMT
I didn't realise that this had happened until I saw your post. My Presafeguard amount did drop suddenly recently, but a lot of them are coming to a close anyway. I just thought there had been a few extra payments.
I have 160 Presafeguard loans. But only 116 according to Zopa's loanbook summary. Which is crazy because, as you point out, that money is still owed to me and in fact the vast majority are still paying, although many are doing so quite slowly.
This is simply misleading on Zopa's part.
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aju
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Post by aju on Dec 4, 2017 0:26:43 GMT
I didn't realise that this had happened until I saw your post. My Presafeguard amount did drop suddenly recently, but a lot of them are coming to a close anyway. I just thought there had been a few extra payments. I have 160 Presafeguard loans. But only 116 according to Zopa's loanbook summary. Which is crazy because, as you point out, that money is still owed to me and in fact the vast majority are still paying, although many are doing so quite slowly. This is simply misleading on Zopa's part. Yeah thats what I thought until I checked too. I agree 100% on the misleading part I was going to poke zopa but to be honest I have so many different people looking at different issues and mixing up my issues that I thought I'd just let it ride for a while. Whilst I am looking at Zopa reports regularly I'm not really focusing on the summary page that much at the moment.
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Post by BrianC on Dec 4, 2017 0:59:21 GMT
I’ve read this thread a few times followed by looking at my Zopa but I still can’t see what has changed. I’m obviously being dumb but all the figures on my summary page are looking as I’d expect. What exactly has changed? I read that defaults have been removed from the summary page but I don’t remember the summary page ever looking different. If I want to see defaults/bad debt I just click on the (?) next to earnings. Can somebody explain a bit clearer what has changed. Thanks muchly.
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aju
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Post by aju on Dec 4, 2017 9:38:04 GMT
Basically in the last week anyone with defaults will have seen a difference in the sums of money showing in summary. Zopa is trying to get the summary and the statement pages to be more accurate when compared. Some of us noticed that investment figures no longer include defaults as part of the investment totals.
This moves the top line closer to the statements pages whilst reducing the important fact that defaults are no longer included in investment total. That's not correct. If this what Zopa is trying to achieve then it should be clear that defaults exist not be hidden under a button for earnings!.
I'm sure that Zopa does not want this and it's just changing on the fly as they correct parts required to effect corrrelation better but to suddenly lose nearly 200 quid from ones investment when in fact it's not lost until the default is hardened by an iva or bankruptcy is not correct.
For me just making the top line have the defaults as part of the calculation would be ok but perhaps Zopa does not want defaults to be so obvious. Personally I am comfortable with my defaults most are still paying so it's part of the process. It's also part of the diminishing safeguard world moving forwards.
The reason it's more obvious is some of us have pre-safeguards and many with a quite few defaults will have noticed a considerable drop (>100) in that section over the last week or so as the default outstanding figures we're removed.
Hope that's clearer.
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Post by misotu on Dec 4, 2017 10:51:12 GMT
"in fact it's not lost until the default is hardened by an iva or bankruptcy"
And not even then, necessarily. I'm receiving sporadic payments from at least three people in IVAs, usually only once a year or less but sometimes quite decent amounts.Bankruptcy does seem to be a bit on the final side though.
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benaj
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Post by benaj on Dec 6, 2017 16:01:00 GMT
Basically in the last week anyone with defaults will have seen a difference in the sums of money showing in summary. Zopa is trying to get the summary and the statement pages to be more accurate when compared. Some of us noticed that investment figures no longer include defaults as part of the investment totals. This moves the top line closer to the statements pages whilst reducing the important fact that defaults are no longer included in investment total. That's not correct. If this what Zopa is trying to achieve then it should be clear that defaults exist not be hidden under a button for earnings!. I'm sure that Zopa does not want this and it's just changing on the fly as they correct parts required to effect corrrelation better but to suddenly lose nearly 200 quid from ones investment when in fact it's not lost until the default is hardened by an iva or bankruptcy is not correct. For me just making the top line have the defaults as part of the calculation would be ok but perhaps Zopa does not want defaults to be so obvious. Personally I am comfortable with my defaults most are still paying so it's part of the process. It's also part of the diminishing safeguard world moving forwards. The reason it's more obvious is some of us have pre-safeguards and many with a quite few defaults will have noticed a considerable drop (>100) in that section over the last week or so as the default outstanding figures we're removed. Hope that's clearer. I have just checked my book with Zopa. Out of my 731 loans on Zopa Plus, 14 loans in defaults, and there are comments for 80 loans I am currently exposed to.
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