bg
Member of DD Central
Posts: 1,368 
Likes: 1,929
|
Post by bg on Aug 30, 2018 23:26:26 GMT
Agree with most of what you have said bg and I'm largely out of FC for similar reasons. However, to be fair, I seem to recall clicking "sell" at any point in time only gives you a lower bound for what you can sell. The actual sellable amount is probably a little higher because if I recall loan parts can't be sold at certain times in their lifecycle. SO if you sold all you could today for example, you'd probably find a few % more sellable next week. As for stats, can't the FCA come up with a list of metrics that all platforms should publish? Assuming they were of any use that is. Nope, they only can't be sold if they are distressed. Of course in the future they may become undistressed but that's wishful thinking really.
|
|
|
|
Post by GSV3MIaC on Aug 31, 2018 7:10:47 GMT
Last time i looked they can't be sold under several circumstances .. only one payment left, repayment is due or processing, come to mind. Maybe that changed with the black box model, but i doubt it.
|
|
bg
Member of DD Central
Posts: 1,368
Likes: 1,929
|
Post by bg on Aug 31, 2018 8:41:14 GMT
Last time i looked they can't be sold under several circumstances .. only one payment left, repayment is due or processing, come to mind. Maybe that changed with the black box model, but i doubt it. Yeah they may not be able to be sold if only one payment left.....but that will account for a tiny % by value. Processing is the first few days of a payment being missed. I find that over half of these events go on to become Late. If a repayment is due then the loan is distressed and can't be sold.
|
|
|
|
Post by GentlemansFamilyFinances on Sept 14, 2018 9:19:40 GMT
I think that there's not much point in checking what's going on with your loans.
I take a monthly look at the interest, fees, bad debt, recoveries and balance - but it's hard to see how investigating performance further can lead you to taking any action or improve the performance.
Certainly, staring angrily at late/defaulted loans won't help your blood pressure - especially when a company borrows £100k+ and go bust weeks later - makes you wonder if FC are doing a good enough job in vetting companies.
|
|
ashtondav
Member of DD Central
Posts: 1,814
Likes: 1,092
|
Post by ashtondav on Sept 14, 2018 12:33:12 GMT
I think that there's not much point in checking what's going on with your loans. I take a monthly look at the interest, fees, bad debt, recoveries and balance - but it's hard to see how investigating performance further can lead you to taking any action or improve the performance. Certainly, staring angrily at late/defaulted loans won't help your blood pressure - especially when a company borrows £100k+ and go bust weeks later - makes you wonder if FC are doing a good enough job in vetting companies. Same thing happens on most p2p platforms. Not just companies, but individuals too. In fact it is quite likely with small businesses. Take company ABC wanting a loan in February with a year end in December. Financial accounts for the previous 3 years are sparkling, however its largest customer has just phoned in and said they want to “renegotiate” their annual order. You apply for a loan and..... When I took out my first mortgage I was with a well established employer. However unknown to my BS, I had a plan to go self employed in the next few months... p2p is not without risk, and the only protection is either diversification or a provision fund.
|
|
