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Post by coolrunning on Aug 17, 2018 11:48:56 GMT
I keep seeing blogs from Bondora saying things like "P2P cash recoveries - 74% increase ".
Of course there are increases. Bondora has expanded their volume of loans, so more will go into default and some time later, recoveries will increase.
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Post by rahafoorum on Aug 17, 2018 13:54:07 GMT
I keep seeing blogs from Bondora saying things like "P2P cash recoveries - 74% increase ".
Of course there are increases. Bondora has expanded their volume of loans, so more will go into default and some time later, recoveries will increase.
It's misleading c**p. Main question is, why do you keep seeing their blog?
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toffeeboy
Member of DD Central
Posts: 538 
Likes: 385
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Post by toffeeboy on Aug 21, 2018 14:41:12 GMT
I keep seeing blogs from Bondora saying things like "P2P cash recoveries - 74% increase ".
Of course there are increases. Bondora has expanded their volume of loans, so more will go into default and some time later, recoveries will increase.
wish they would start recovering some of mine. Every time I bother to log in I have more loans defaulted and I haven't leant on the site for nearly a year now, they need to keep increasing a lot to save me from a loss.
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Post by oktaeder on Aug 22, 2018 8:52:16 GMT
Marketing bullshit.
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Post by coolrunning on Aug 23, 2018 16:00:07 GMT
Of course.
But I'm glad to see some people still read this forum.
Where else do you look for Bondora user chat (in English) ?
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Post by geldregiertdiewelt on Aug 23, 2018 18:33:53 GMT
I keep seeing blogs from Bondora saying things like "P2P cash recoveries - 74% increase ".
Of course there are increases. Bondora has expanded their volume of loans, so more will go into default and some time later, recoveries will increase.
I recovered my cash 99% from Bondora a few days ago. Made quite some profit, but never really felt like I could trust their system. Too many changes, strange accounting... it's all been discussed here at length. I left like 50 EUR in the account, so I can follow how they develop their offering. Maybe, some day...
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Post by oktaeder on Aug 24, 2018 7:35:07 GMT
Where else do you look for Bondora user chat (in English) ?
facebook group. But there is silent now too. Everybody gave up.
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0risk
Member of DD Central
Posts: 217
Likes: 202
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Post by 0risk on Aug 24, 2018 14:00:57 GMT
I started recently. I got burnt from the very first day.
I chose Portfolio Pro to start so I could tune things slowly. Meanwhile I saw Bondora system buying very long loans which I didn't want at all.
I went thru every option on the screen, but couldn't find the culprit. After a couple of days I realized it was the Portfolio Manager. It is on by default, but the settings disappeared from the menu when I turned on Portfolio Pro. I must say Bondora support was great thou - my fault I wasn't reading the replies in the spam folder.
Now my loans are starting to default, and I stil got a few 5 year loans.
At least this bad start will keep my expectations low. I'm planning to leave the platform in a few years.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323
Likes: 897
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Post by JamesFrance on Aug 24, 2018 15:04:04 GMT
Now my loans are starting to default, and I stil got a few 5 year loans. At least this bad start will keep my expectations low. I'm planning to leave the platform in a few years. The only way you will be able to leave will be by selling your entire loan holding, which will give you massive losses on the defaulted loans. The loans which do not default are often extended for years also.
I have invested there for 5 years, withdrawing all repayments for the last 2.5 years and expect to take another 5 years for recoveries to come in, with repayments from still paying loans. I have all my invested money back now luckily and am in profit at last, but my average rate is 28% so I doubt you could do that now.
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0risk
Member of DD Central
Posts: 217
Likes: 202
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Post by 0risk on Aug 24, 2018 21:43:48 GMT
Now my loans are starting to default, and I stil got a few 5 year loans. At least this bad start will keep my expectations low. I'm planning to leave the platform in a few years. The only way you will be able to leave will be by selling your entire loan holding, which will give you massive losses on the defaulted loans. The loans which do not default are often extended for years also.
I have invested there for 5 years, withdrawing all repayments for the last 2.5 years and expect to take another 5 years for recoveries to come in, with repayments from still paying loans. I have all my invested money back now luckily and am in profit at last, but my average rate is 28% so I doubt you could do that now.
Ouch. It seems this platform doesn't make sense at all for laid back investors. Do you reckon if I stay a couple of years I still would be negative? And what do you mean by loans not in default being extended ?? Thanks
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323
Likes: 897
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Post by JamesFrance on Aug 25, 2018 5:06:20 GMT
Replied by PM
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jay
Posts: 46
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Post by jay on Aug 29, 2018 16:19:23 GMT
The only way you will be able to leave will be by selling your entire loan holding, which will give you massive losses on the defaulted loans. The loans which do not default are often extended for years also.
I have invested there for 5 years, withdrawing all repayments for the last 2.5 years and expect to take another 5 years for recoveries to come in, with repayments from still paying loans. I have all my invested money back now luckily and am in profit at last, but my average rate is 28% so I doubt you could do that now.
Ouch. It seems this platform doesn't make sense at all for laid back investors. Do you reckon if I stay a couple of years I still would be negative? And what do you mean by loans not in default being extended ?? Thanks A new bondora user ? The only thing we can advise you is to avoid that platform like plague.Invested a few thousands years ago only got back 4/5 of it, so its an unmitigated disaster, especially the spain and even worse slovakian loans with 90% default. Everything, and i mean it, everything you can read from them is marketing bullshit. Even the trustpilot reviews were faked and our reviews censored. Old timers could confirm my say too, they even had to close their official forums as there was so much negativity. You dont let laid back tourists enter a cutthroat alley, so same here i cant advise bondora to laid back investors indeed...
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0risk
Member of DD Central
Posts: 217
Likes: 202
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Post by 0risk on Aug 29, 2018 22:21:00 GMT
Ouch. It seems this platform doesn't make sense at all for laid back investors. Do you reckon if I stay a couple of years I still would be negative? And what do you mean by loans not in default being extended ?? Thanks A new bondora user ? The only thing we can advise you is to avoid that platform like plague.Invested a few thousands years ago only got back 4/5 of it, so its an unmitigated disaster, especially the spain and even worse slovakian loans with 90% default. Everything, and i mean it, everything you can read from them is marketing bullshit. Even the trustpilot reviews were faked and our reviews censored. Old timers could confirm my say too, they even had to close their official forums as there was so much negativity. You dont let laid back tourists enter a cutthroat alley, so same here i cant advise bondora to laid back investors indeed... Thanks Jay for putting it very clear.
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fric
Member of DD Central
Posts: 200
Likes: 80
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Post by fric on Aug 30, 2018 5:40:27 GMT
A new bondora user ? The only thing we can advise you is to avoid that platform like plague.Invested a few thousands years ago only got back 4/5 of it, so its an unmitigated disaster, especially the spain and even worse slovakian loans with 90% default. Everything, and i mean it, everything you can read from them is marketing bullshit. Even the trustpilot reviews were faked and our reviews censored. Old timers could confirm my say too, they even had to close their official forums as there was so much negativity. You dont let laid back tourists enter a cutthroat alley, so same here i cant advise bondora to laid back investors indeed... Thanks Jay for putting it very clear. Just to add some more experiences: I joined in 2015 (or was the end of 2014?), I have deposited 3500 eur, withdrew 2500 eur, 150 eur in cash currently. Outstanding principal 1720 eur and all those loans are in default. I would have to sell them at around 50% discount to break even which is not realistic. 20% of the principal remaining is more likely, so atm I decided just to hold them for now. Some of them actually do have some recoveries coming in from time to time... If I would sell everything now I would probably be like 500 eur down from my initial 3500 eur investment. Unless you were one of the very early investors when the overall quality was better and the interest rates for decent loans were higher, you will mostly find only sad stories. SK/ES loans were a total disaster. finland wasn't good either.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323
Likes: 897
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Post by JamesFrance on Aug 30, 2018 8:33:02 GMT
Yes, a few of use on here were very active on their forum and got more and more critical because they totally ignored us and did the opposite of what the investors wanted.
After it closed Partel Tomberg used to watch this forum as we started discussing them, he did join the forum but didn't post, however he used to send me emails asking me to explain where he thought someone was wrong about something. All history and the platform has barely grown since. He must be hugely jealous of the success of Mintos in only3 years, having lost millions of his shareholders money and got nowhere, but finally broke even at our expense by taking over a third of our default recoveries without asking.
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