bugs4me
Member of DD Central
Posts: 1,841
Likes: 1,466
|
Post by bugs4me on Apr 10, 2018 9:17:54 GMT
<snip> What needs sorting urgently are the issues around trust - the general post-Collateral malaise, the valuations, the default rate, and the need for concrete evidence that the recovery process can deliver good lender outcomes for these defaults. It’s all about platform confidence is it not. Another poster on a separate thread, another platform, stated that as 50% of a repaid loan had been reinvested in the SM then that was a positive. Not in my eyes as I remember when close on 100% of repayments went straight into the SM scramble and there wasn’t enough availability. Until or if/when certain platforms stop ignoring investors then sadly I’m not that positive about many P2P platforms. Start rebuilding confidence guys - it’s not that difficult to start that rebuilding as you’re starting from a low point IMO. What part of business basics do you not understand as confidence is paramount whether you're an investor, buying a TV, a house, a car, etc, etc. If you state an update will be posted on a certain date then if it’s not available please simply say so and give an alternative date. Failure to do so comes across as you can’t be bothered and if that’s the case with a simple update, what chance have we got with other business processes as so correctly pointed out by @eurasian69 - '.... the valuations, the default rate, and the need for concrete evidence that the recovery process can deliver good lender outcomes for these defaults....' As I’ve droned on about previously, the solution to this is firmly in the hands of the platforms themselves. What we cannot do is keep going round and round in circles on this lack of confidence issue so I'll put my pen away.
|
|
|
Post by westcountry on Apr 10, 2018 14:58:43 GMT
Fairly academic for me at the moment as I am 'on the naughty step' for not agreeing to the new T&Cs. Only Moneything will know how many others are sitting with me (might just be me), however if there is any substantial number that should be their major concern. Logically for me I have listed anything with a queue, the rest will sell easily enough when it suits me. I'm on the 'naughty step' with you Badly Drawn Stickman . I haven't & won't accept MT's new T&Cs, have all my loans that have sale queues up for sale, and my other loans will sell in five minutes so will be sold as and when investment opportunities elsewhere come up that I like the look of. And there's just over £5000 in defaulted loans as well
|
|
|
Post by dobbo on Jan 23, 2019 22:47:52 GMT
I think they need to rethink some aspects, the secondary market I would suggest is not a priority. Agreed 100%. Messing around with the SM at this stage is just treating the symptom, not the cause. What needs sorting urgently are the issues around trust - the general post-Collateral malaise, the valuations, the default rate, and the need for concrete evidence that the recovery process can deliver good lender outcomes for these defaults. Excuse the noob being late to the topic, but I'd agree with that whole list and add to it that there just weren't e ought loans available. On any platform, I want to diversify my lending and risk between at least 25-30 loans. For large periods that was just nowhere near possible on MT. I did write to them, but heard not a dicky bird back.
|
|
|
Post by dobbo on Jan 23, 2019 22:48:47 GMT
Fairly academic for me at the moment as I am 'on the naughty step' for not agreeing to the new T&Cs. Only Moneything will know how many others are sitting with me (might just be me), however if there is any substantial number that should be their major concern. Logically for me I have listed anything with a queue, the rest will sell easily enough when it suits me. I'm on the 'naughty step' with you Badly Drawn Stickman . I haven't & won't accept MT's new T&Cs, have all my loans that have sale queues up for sale, and my other loans will sell in five minutes so will be sold as and when investment opportunities elsewhere come up that I like the look of. And there's just over £5000 in defaulted loans as well With defaults pending, I'm still sat on the naughty step whilst I try to get out. Are you still there?
|
|
|
Post by Badly Drawn Stickman on Jan 23, 2019 23:04:17 GMT
I'm on the 'naughty step' with you Badly Drawn Stickman . I haven't & won't accept MT's new T&Cs, have all my loans that have sale queues up for sale, and my other loans will sell in five minutes so will be sold as and when investment opportunities elsewhere come up that I like the look of. And there's just over £5000 in defaulted loans as well With defaults pending, I'm still sat on the naughty step whilst I try to get out. Are you still there? I am not, for me the reason for being there was becoming mostly irrelevant. And my mercenary side reasoned that I could make money on Moneything with a revised approach. You are 'blowing dust of the dead sea scrolls' with this thread. Things have a habit of moving on relatively quickly.
|
|
|
Post by gravitykillz on May 18, 2021 6:33:11 GMT
Well done to those that actually left.
|
|
|
Post by scepticalinvestor on Jan 4, 2024 13:50:30 GMT
Well done to those that actually left. Indeed, the lucky ones that escaped Titanic Thing. At the other end you have chumps like me who bought shite (in hindsight) with piddly discounts on the SM.
|
|
|
Post by df on Jan 4, 2024 18:17:19 GMT
Well done to those that actually left. Indeed, the lucky ones that escaped Titanic Thing. At the other end you have chumps like me who bought shite (in hindsight) with piddly discounts on the SM. I did something in the middle, sold a fair amount of my loan parts at a small discount as soon as MT introduced SM (I'm glad I did it) and left the ones I thought will repay (CSPs and some others). My main MT losses are from RCCs and MTBA (NuL), these were already in default before introduction of SM. It looks like by the end of administration (whenever that might be) I will break even.
|
|