mary
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Post by mary on Jun 19, 2018 19:51:06 GMT
Nearly all my loans are overdue by 200/300/500/600+(!!!?) days!! Are these going to be perpetually kicked into the long grass, or are there examples of long overdue loans actually being repaid? Many overdue loans have partially repaid, some even in full, PLB120 recently, with all interest and bonus, eventually. The more pertinent question is "How much might I lose on an overdue loan?" The worst lost to date is, I think, 69% of capital on the Fortified Dwelling, although I've not check the specifics. Obviously, Lendy would disagree as the outstanding owed is in "Claims Underway", but there is no remaining asset, just some unsecured obligation, which may, or may not, result in some further recovery, at some unspecified time in the future! PLB103 will likely exceed that loss, but only time will tell. As always, losses are an occupational hazard with P2P that are hard to avoid, diversification of loan and platform is essential to minimise losses that will occur.
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Jeepers
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Post by Jeepers on Jun 19, 2018 20:15:09 GMT
The best loans are those that have been partially repaid, the worst are those that have been partially recovered!
Partial repayments show good intention to repay the rest.
If it's been partially recovered, you might as well write off the remaining amount.
Unfortunatly Lendy don't differentiate between repaid and recovered.
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Post by df on Jun 19, 2018 21:01:41 GMT
The best loans are those that have been partially repaid, the worst are those that have been partially recovered! Partial repayments show good intention to repay the rest. If it's been partially recovered, you might as well write off the remaining amount.
Unfortunatly Lendy don't differentiate between repaid and recovered. Yes, it is difficult to believe in any future payments from Welsh Castle's borrower. I hope Ly will prove me wrong  , but for now I've written off all existing and forthcoming capital losses on this platform.
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micky
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Post by micky on Jun 19, 2018 21:13:48 GMT
Hopefully, DFL001/2 will have good news re there refinance on Friday then pray that DFL004/PBL095 come good. Well, I can hope  These repayments would certainly put a smile on my face. |
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Post by p2plender on Jun 19, 2018 23:47:30 GMT
Remember nobody has yet lost any of their capital and also Lendy have the provision fund.
The first part of the above statement is similar to playing the lottery. You might spend £10 a week on tickets and not win but you haven't really lost £10 because one day you might win the jackpot.
Keep calm and carry on.
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TheDriver
Member of DD Central
Slightly bonkers
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Post by TheDriver on Jul 6, 2018 11:32:21 GMT
But there is no Lendy equivalent to the lottery jackpot. The best to hope for is a reasonable return!
If you don't win on the lottery you've spent £10 on a gamble - the rationale for putting £10 a week in Lendy is to end the year with ~£550, not less than you started with!
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, but for now I've written off all existing and forthcoming capital losses on this platform.
These repayments would certainly put a smile on my face.