dorset
Member of DD Central
Posts: 281 
Likes: 187
|
Post by dorset on Jun 12, 2018 8:24:26 GMT
Grumbler - not sure why your recoveries are so poor if you are properly diversified?
I have been with FC from almost the start and have always been extensively diversified - always in excess of 1000 separate loans (not parts).
To date - 217 defaults - 47 however in 2018 due to heavy extra investment in September 2018.
Recovery to date 33.6% which is a drop from a high of about 38% due to the Sept 2017 new loans.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jun 12, 2018 10:25:29 GMT
My FC recoveries, long term, 37%, on losses of £3768. Going forward I expect worse, looking at the current lending.
|
|
p2p2p
Member of DD Central
Posts: 123
Likes: 114
|
Post by p2p2p on Jun 12, 2018 11:21:29 GMT
6.7%, starting 2 years ago. Hopefully it will climb to meet the better rates found by others.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jun 12, 2018 13:13:43 GMT
6.7%, starting 2 years ago. Hopefully it will climb to meet the better rates found by others. It should improve, if your level if investment is constant, but experience is quite varied, and based on the pre-black-box FC in my case. Don't book a holiday based on the anticipated recoveries. Note that the FC stats page has been almost wiped.
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Jun 28, 2018 9:17:34 GMT
Pro**ts Y*u C*n Ba*k On...1812 I suppose it would be churlish of me not to offer a word of thanks to FC for persevering with the loan above and obtaining another monthly repayment recently. The recovery process has been going on for 4 years now although the loan began in December 2102 ! but it seems that an 'agreement' has been reached whereby the borrower pays 48% of the contractual amount regardless of whether any of their portfolio is sold. With the summary indicating that 5 monthly payments are left and assuming the agreement is honoured, then ~ another year might finally see this one put to bed. Hopefully further news is going to emerge before too long on the Liverpool "Salmon" Hotel which presumably is now finished and the apartments being sold. I better not spoil the good intent of this post by mentioning the Hotel California saga but its very hard not to...  Well done FC....Keep it Up ! |
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jun 28, 2018 9:56:39 GMT
Yes, perseverance is the word. It is true that FC recoveries is a machine that never tires and never forgets, and not a person who gets bored with chasing a debt. If you are lucky enough to find that your debtor is one which the machine has targeted, the debtor will find that the FC machine operates infrequently but relentlessly.
|
|
benaj
Member of DD Central
N/A
Posts: 5,612
Likes: 1,740
|
Post by benaj on Jun 28, 2018 12:09:35 GMT
Yes, perseverance is the word. It is true that FC recoveries is a machine that never tires and never forgets, and not a person who gets bored with chasing a debt. If you are lucky enough to find that your debtor is one which the machine has targeted, the debtor will find that the FC machine operates infrequently but relentlessly. Yep, one of the loans in my partner's account become default 5 years ago, FC keeps chasing one of the guarantors.
|
|
bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
|
Post by bigfoot12 on Jun 28, 2018 12:47:47 GMT
Pro**ts Y*u C*n Ba*k On...1812 I have this one, but it isn't typical of my portfolio as my recoveries are currently about 7%. I have generally been very lucky with P2P, but not with this aspect of FC (though when I could self select I was happy with FC overall). My portfolio is younger than my holding of 1812 might suggest, it was very small 5 years ago and then it increased a lot two and half years ago. (Back to as close to zero as is possible this week.) I'm hoping they do as well with some of my other defaults as 1812, but it doesn't look likely. I have a few IVAs which seem to be capped at about 20% if all goes well over 5 years (so below 16% if any sensible NPV is applied). And the process in NI and Scotland seems to be even slower than in England.
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Jul 12, 2018 10:40:28 GMT
yes..back again to give some credit to Funding Circle Working Capital ID 1202 has finally fully repaid..I had £1K in this out the outset in 2012..defaulted in January 2105 but the last outstanding payment has been received. Well done FC  |
|
jo
Member of DD Central
dead
Posts: 741
Likes: 498
|
Post by jo on Jul 12, 2018 11:06:55 GMT
I show a whisker under 45% recovery, investor since 2012.
I really don't know if it's wishful thinking on my part but the real recovery rate might slightly better. Having recently gone through all defaults making up the total on my homepage, some show an outstanding balance - which is contradicted by the loan comments claiming fully repaid.
Anyone else noticed similar?
|
|
|
|
Post by captainb on Jul 12, 2018 11:12:27 GMT
£500 lost to date and £5 recovered.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jul 12, 2018 12:01:54 GMT
I show a whisker under 45% recovery, investor since 2012. I really don't know if it's wishful thinking on my part but the real recovery rate might slightly better. Having recently gone through all defaults making up the total on my homepage, some show an outstanding balance - which is contradicted by the loan comments claiming fully repaid. Anyone else noticed similar? If that is the 'exposure' figure, then it is that amount when defaulted and does not change. To find out the recoveries on each loan is very difficult and not encouraged by FC, unless it is fully recovered.
Loan 5702 was subject to comment about dodgy car dealers on the old indy forum, which was bought up and closed by FC years ogo, under threat of various actions. I forgot to sell £92 of 5702, my own fault, and have been reminded of that exposure now for 51 comments over more than four years. They still bang on, but I have no idea how much of my £92 has been recovered. The guarantor will never escape.
I also remember 1812, above, but fondly because after a while of good interest, I sold some quantity of it. I just hope I did not sell it to rogerthat .
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Jul 12, 2018 12:08:15 GMT
I show a whisker under 45% recovery, investor since 2012. I really don't know if it's wishful thinking on my part but the real recovery rate might slightly better. Having recently gone through all defaults making up the total on my homepage, some show an outstanding balance - which is contradicted by the loan comments claiming fully repaid. Anyone else noticed similar? Its all been lost in the mists of time (or in my head) but I think once a loan defaulted the capital amount at the time of default was left as is...and didn't reduce as recovery payments were received. Using my previous example re 1202 above..the Loan Comment states " Working Capital (1202) — defaulted, exposure £201.06 " so one can assume one of two things...FC are telling porkies or they have in fact recovered the money and the only way you can check that is to trawl through all the payments identified in your transaction statements, that's assuming you can tell what loans all the loan part numbers actually refer to. That USED to be very easy without the need for spreadsheets but in all honesty after 4 years or so I cant be ar*ed. Each recovery payment is accompanied by an entry in the Loan comment section so ive just multiplied the number of comments by an average amount received each month since default..
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Jul 12, 2018 12:16:25 GMT
I show a whisker under 45% recovery, investor since 2012. I really don't know if it's wishful thinking on my part but the real recovery rate might slightly better. Having recently gone through all defaults making up the total on my homepage, some show an outstanding balance - which is contradicted by the loan comments claiming fully repaid. Anyone else noticed similar? If that is the 'exposure' figure, then it is that amount when defaulted and does not change. To find out the recoveries on each loan is very difficult and not encouraged by FC, unless it is fully recovered.
Loan 5702 was subject to comment about dodgy car dealers on the old indy forum, which was bought up and closed by FC years ogo, under threat of various actions. I forgot to sell £92 of 5702, my own fault, and have been reminded of that exposure now for 51 comments over more than four years. They still bang on, but I have no idea how much of my £92 has been recovered. The guarantor will never escape.
I also remember 1812, above, but fondly because after a while of good interest, I sold some quantity of it. I just hope I did not sell it to rogerthat .
Lying toad (or in this case) Chameleon..as it happens I sunk £3K into this at the outset..and theres £312.70 remaining (strangely one of the outstanding loans that appears to have reduced with each payment )
|
|
jo
Member of DD Central
dead
Posts: 741
Likes: 498
|
Post by jo on Jul 12, 2018 12:32:22 GMT
Thanks for the replies.
Given that Funding Circle has a listed offering as part of its activity, I'm surprised that (after all this time) some aspects of its record-keeping is so primitive.
|
|
