aju
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Post by aju on Jan 5, 2018 17:36:10 GMT
I suspect I am not the first and to be honest it only happened yesterday according to my download I pulled today. Its a bit odd though as only one of them has made it to statements summary for January.
One of them is an IVA as well I wouldn't have thought that was a default in the true sense yet but I guess the arrangement detail determines that. My comments suggest the IVA was arranged in Jan of last year but looking at the data it should be yesterday (Jan 4th 2018) that's the problem with an unstructured comments field.
At the moment that means I am down £20 but in the scheme so far thats 5% of interest so far but at the month level sofar its 50%. i'll not lose any sleep so far though ;-)
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benaj
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Post by benaj on Jan 5, 2018 18:14:13 GMT
I don't have an IFISA. A single default of A* wouldn't worry me since they are not paying great rate. If it was D / E, it would affect the payout in the Zopa Plus
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Post by newlender on Jan 5, 2018 18:25:21 GMT
I have 13 Collections so I'm expecting my first default soon. The tax-free interest really changes my perception though; I got quite depressed at seeing my defaults stack up on the Investing side. I'm much more laid-back with the ISA though, as the tax saved will cancel out the odd default.
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aju
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Post by aju on Jan 5, 2018 19:14:24 GMT
I don't have an IFISA. A single default of A* wouldn't worry me since they are not paying great rate. If it was D / E, it would affect the payout in the Zopa Plus Both defaults are in IsaCore and don't have any SG cover. C1_60_15000_13.28%_Jun_2017_6 mths B__60_10000_12.38%_Sep_2017_4mths So much for the 12-18mths for defaulting zone ;-) I have 15 collections - 3 in Plus and 12 in Core ( 3 of these are covered by SG) I have 2 arrangements both in Core ( 1 of these is covered by SG, both are C1) Not too much to worry about so far though I feel
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aju
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Post by aju on Jan 5, 2018 19:18:58 GMT
I have 13 Collections so I'm expecting my first default soon. The tax-free interest really changes my perception though; I got quite depressed at seeing my defaults stack up on the Investing side. I'm much more laid-back with the ISA though, as the tax saved will cancel out the odd default. I agree that tax free for me as well gives me another 20% cover, although I would not be happy bunny if it was all given up down the line. I do think though that it would take quite a bit of defaulting to but up the initial amount that I have built up and with relend on that should remain as a good buffer. Also its worth bearing in mind on the ISA its only been running a few months (June I think so at present only built up half the interest potential so far.
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Post by newlender on Jan 5, 2018 19:55:47 GMT
I was fully funded by August so I've accrued quite an interest buffer already.
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puddleduck
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Post by puddleduck on Jan 6, 2018 13:51:18 GMT
With losses in isas not being tax deductible (I assume), I guess you hope the tax free interest will out way lost capital.
Have to say, Zopa would be the last place I'd be using to open an ISA personally, the rates seem quite low and seems a bit of a 'waste' of the tax free wrapper to me.
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IFISAcava
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Post by IFISAcava on Jan 6, 2018 15:36:21 GMT
With losses in isas not being tax deductible (I assume), I guess you hope the tax free interest will out way lost capital. Have to say, Zopa would be the last place I'd be using to open an ISA personally, the rates seem quite low and seems a bit of a 'waste' of the tax free wrapper to me. As long as your total interest within ISA wrappers outweighs you total capital losses within ISA wrappers, you will have benefitted from the ISA wrapper overall. If one platform has more capital losses than total interest, you'd have been better off keeping that one out of the ISA wrapper, as long as you had other non-ISA P2P interest to offset the losses against. But I guess that only works if you can predict in advance which platforms will make a loss. And if you could predict, or have a pretty good idea, that any platform will make a loss, I would suggest you wouldn't want to invest in it at all whether inside or outside the ISA. So ISA is always best IMHO.
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Post by newlender on Jan 8, 2018 7:48:41 GMT
I had my first ISA default on January 5th. A 'B' borrower in Core. £9 plus interest paid by Safeguard, so I've not lost a penny yet.  Nearly £400 in interest so far after reaching fully-funded status in the early autumn. |
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Greenwood2
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Post by Greenwood2 on Jan 8, 2018 13:08:26 GMT
I had small defaults in November and December, but this month I have more defaults than interest so far  (amounting to about 25% of my expected total interest per month). |
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Post by newlender on Jan 8, 2018 15:21:07 GMT
What's your weighting Core to Plus? I deliberately restricted my Plus to 15% and my Core to 85% of the portfolio and it seems to be working so far.
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Greenwood2
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Post by Greenwood2 on Jan 8, 2018 15:46:59 GMT
2/3 plus, 1/3 core. I may need to modify this, but in theory plus should give bigger returns than core, after defaults.
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aju
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Post by aju on Jan 8, 2018 18:54:27 GMT
I had my first ISA default on January 5th. A 'B' borrower in Core. £9 plus interest paid by Safeguard, so I've not lost a penny yet. Nearly £400 in interest so far after reaching fully-funded status in the early autumn. I didn't think to check for SG defaults - so my first ISACore SG covered loan to default did so on 9th August 2017 and like you I got all owed back including 5.5p interest! The really interesting thing about the loan was I only had it for 13 days before it defaulted. It was probably a £10 loan taken out in August 2015 marked up as "B Mkt Consolidate existing debt Loan" It started to go off the rails in July and missed a couple of payments but paid the 1st up very quickly. Had another stutter in July (paid by credit card) but went to IVA on the 9th August 2017. For those monitoring defaults it failed almost 2 years to the date but to be fair it went to IVA so they are potentially still a payer.
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rambler
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Post by rambler on Jan 9, 2018 10:10:22 GMT
My first ISA Plus default was in November.
In December I lost nearly half my interest to defaults.
This month currently breaking even.
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Post by misotu on Jan 11, 2018 10:42:35 GMT
It sounds like I have a tenner lent to the same IVA, aju My only non-Safeguard ISA default so far, but I have a number of very rocky Cs coming up to 4 missed payments. So many Cs make one payment and then give up :rolleyes: You would think there'd be some kind of clue for the underwriters to spot before handing out the loan ... I'm 100% Core and 69% Safeguard in my ISA, so it's looking ok so far. |
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Nearly £400 in interest so far after reaching fully-funded status in the early autumn.
(amounting to about 25% of my expected total interest per month).
