elliotn
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Post by elliotn on Jan 20, 2018 13:08:48 GMT
HNYZ
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zlb
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Post by zlb on Jan 22, 2018 22:53:34 GMT
I thought things had worsened after for Christmas 'borrowing'. My defaults so far this month are 6x normal per other whole months and it's not even the end of month now. What's inexplicable is that the income is roughly the same as on whole other months. It's as if my exposure to plus has changed but it hasn't.
I'm not impressed with seeing negative returns.
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benaj
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Post by benaj on Jan 23, 2018 8:42:46 GMT
I thought things had worsened after for Christmas 'borrowing'. My defaults so far this month are 6x normal per other whole months and it's not even the end of month now. What's inexplicable is that the income is roughly the same as on whole other months. It's as if my exposure to plus has changed but it hasn't. I'm not impressed with seeing negative returns. 6x new default than any other months? It takes Zopa at least 4 months worth of missed payment to register a default, plus a borrower can choose a much later date for first repayment, like more than 45 days after receiving the loan. I don’t think the defaults have anything to do with Christmas but it is more to do with the life span of the risky loans themselves. My new defaults in December were higher, but within zopa expected range. Zopa expected defaults for Plus is 5.5%, so have you had a 3% default (6x) just in a single month?
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aju
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Post by aju on Jan 23, 2018 9:00:45 GMT
I've picked up some defaults in last couple of months on isa side they are core rather than plus and very curiously the number of them that have made nil payments is a bit odd. There are quite a few in collections too that have made no payments either.
I recently received a goodwill payment on a loan on the invest side zopa said that the loan was in error. i got the impression it might have been a fraud attempt. I still have the loan but I'm guessing there will be no further payments.
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zlb
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Post by zlb on Jan 23, 2018 17:54:29 GMT
A better check might be to do the full 2017 annual statement check as well. My loansize is approx 25x less than yours benaj. My exposure to Plus is at roughly 10% and my worst month in 2017 was November and that was 3 loans was about 47%. Over the whole year though my default rate was 10.7% loss against the interest earned. This equates however to an overall rate of 4.44% that does not include my early adopter and I ignored returned default money (capital/interest) I'll live with that. It might have been a lot worse though if the SG defaults were not covered I had many more of those than the ones in the plus side. my defaults in ISA have been running, since the start of my ISA, at similar approx 10% of whole earnings, same every month rather than over the whole. (Been surprised to see some people have only recently reported experiencing defaults). So reassured to see your similar amount. Not reassured by this month's sudden large difference, approx 66% of earnings. Certainly worrying to see what some are experiencing.
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benaj
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Post by benaj on Jan 23, 2018 22:04:40 GMT
my defaults in ISA have been running, since the start of my ISA, at similar approx 10% of whole earnings, same every month rather than over the whole. (Been surprised to see some people have only recently reported experiencing defaults). So reassured to see your similar amount. Not reassured by this month's sudden large difference, approx 66% of earnings. Certainly worrying to see what some are experiencing. I think Zopa core has a default rate of around 2.4%, so although you have a higher new default in a month, your life time default in zopa core is likely under that expected figure?
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zlb
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Post by zlb on Jan 24, 2018 22:19:06 GMT
my defaults in ISA have been running, since the start of my ISA, at similar approx 10% of whole earnings, same every month rather than over the whole. (Been surprised to see some people have only recently reported experiencing defaults). So reassured to see your similar amount. Not reassured by this month's sudden large difference, approx 66% of earnings. Certainly worrying to see what some are experiencing. I think Zopa core has a default rate of around 2.4%, so although you have a higher new default in a month, your life time default in zopa core is likely under that expected figure? this default rate isn't what I've found. I've not seen an eventual recovery of missed payments.
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benaj
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Post by benaj on Jan 25, 2018 9:58:13 GMT
I think Zopa core has a default rate of around 2.4%, so although you have a higher new default in a month, your life time default in zopa core is likely under that expected figure? this default rate isn't what I've found. I've not seen an eventual recovery of missed payments. So, what's % of default in your Zopa Core? 1-2%, 3-6%, or even higher?
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