chunkie
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Post by chunkie on Aug 28, 2018 15:50:09 GMT
This is probably old news or obvious to most but I'll post anyway!
At one time I had around GBP20,000 invested with FS but got scared by all the bad loans so I've gradually sold almost everything (just stuck with a few Pounds in Formby and Hornby [trains etc.]).
Anyhow, I found I had approx. 4 Pounds in FS funds that I couldn't withdraw because the minimum withdrawal is 5 Pounds. So I added 5 new Pounds to my FS funds and then I was able to withdraw the total nine! Hope that makes sense!
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rs
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Post by rs on Aug 28, 2018 16:41:29 GMT
This is probably old news or obvious to most but I'll post anyway! At one time I had around GBP20,000 invested with FS but got scared by all the bad loans so I've gradually sold almost everything (just stuck with a few Pounds in Formby and Hornby [trains etc.]). Anyhow, I found I had approx. 4 Pounds in FS funds that I couldn't withdraw because the minimum withdrawal is 5 Pounds. So I added 5 new Pounds to my FS funds and then I was able to withdraw the total nine! Hope that makes sense! I can see thousands being pulled out from FS! Thanks for sharing this with us.
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arby
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Post by arby on Aug 28, 2018 18:06:03 GMT
This is probably old news or obvious to most but I'll post anyway! At one time I had around GBP20,000 invested with FS but got scared by all the bad loans so I've gradually sold almost everything (just stuck with a few Pounds in Formby and Hornby [trains etc.]). Anyhow, I found I had approx. 4 Pounds in FS funds that I couldn't withdraw because the minimum withdrawal is 5 Pounds. So I added 5 new Pounds to my FS funds and then I was able to withdraw the total nine! Hope that makes sense! What was your overall return if you don't mind me asking?
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chunkie
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Post by chunkie on Aug 28, 2018 23:55:51 GMT
I was late getting into P2P so I was only with FS for around 12months before I got scared. I sold most of my loans at a 1% discount so I didn’t make much on my 20,000 but I made a little. If I lose my few hundred in Formby and Hornby I’ll probably break even.
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Aug 29, 2018 0:20:32 GMT
I was late getting into P2P so I was only with FS for around 12months before I got scared. I sold most of my loans at a 1% discount so I didn’t make much on my 20,000 but I made a little. If I lose my few hundred in Formby and Hornby I’ll probably break even. Thanks for that I probably bought them  . I need to make 25k a year to pay mother’s care home from her house sale/savings managing to do that getting her 13-15% . I spread the risk and do an awful lot of work to get those returns. I only count losses to those loans completed and returns quantifiable not just assumed will be 100% losses My personal returns are greater. I have a war and Ferengi outlook STAY CALM DON’T PANIC and a profit is a profit . There is always opportunity to make a profit . There are people making profit in Venezuela where inflation is greater than 1,000,000% just takes the ability to find the opportunity to make a little. Remember Richard Pryor in Superman he made a very little from every transaction. There were however thousands of transactions
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Post by wangja on Aug 29, 2018 5:44:04 GMT
I only dipped a toe into the water here.
So far, I have withdrawn all my earnings and am left with the original investment. As payments come in, I'll keep withdrawing down to that level. Although the original investment was spread over a couple of years, my total return has been so far about 35% of sum invested.
I am not unhappy.
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oldtimer
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Post by oldtimer on Aug 29, 2018 6:01:11 GMT
I too am winding down my FS investments. I only have a dozen or so that are not out of term now but several of these are split investments which has resulted in them being less than £25. Consequently they cannot be sold. This is most annoying, I wish FS would find another way of handling these splits.
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TenKay
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Post by TenKay on Aug 29, 2018 12:27:52 GMT
glad i never invested much in FS and wont be reinvesting
i dont seem to have much luck with P2P, wish i had found this forum before investing my other cash in LY and COL , talk about poor decisions
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bg
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Post by bg on Aug 29, 2018 14:15:56 GMT
i dont seem to have much luck with P2P, wish i had found this forum before investing my other cash in LY and COL , talk about poor decisions I really doubt that. COL won the forums 2017 platform of the year award and LY was runner up in 2016. The wise sages on here were singing the praises of both platforms right up until it was too late so I really doubt reading here would have saved you.
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dandy
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Post by dandy on Aug 29, 2018 14:21:08 GMT
glad i never invested much in FS and wont be reinvesting
i dont seem to have much luck with P2P, wish i had found this forum before investing my other cash in LY and COL , talk about poor decisions
can I ask how you came across LY and Col in the first place? Genuinely curious as to how you became aware of/decided to invest on those platforms
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Post by pmac67 on Aug 30, 2018 21:10:36 GMT
i dont seem to have much luck with P2P, wish i had found this forum before investing my other cash in LY and COL , talk about poor decisions I really doubt that. COL won the forums 2017 platform of the year award and LY was runner up in 2016. The wise sages on here were singing the praises of both platforms right up until it was too late so I really doubt reading here would have saved you. Lolz bg... Yes seeing Col win the poll convinced me I needed to lose some cash !
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blender
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Post by blender on Aug 30, 2018 22:10:58 GMT
Winning the poll is the kiss of death. Tactical voting required in 2018.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Sept 1, 2018 3:07:30 GMT
I think perhaps we should have a statute of limitation as to when we stop mentioning the screw ups as justification for saying you have to cash in.
The same old bad Loans are mentioned time after time after time and then the assumption that every late loan is going to follow suit when there is no real evidence. It is all speculation.
A lot of the Loans more than 30 days late have recently paid and more are nearing resolution when a more accurate measure of how the platform is doing can be assessed.
I think performance should be measured on a six month rolling period and only loans that fall within two consecutive periods should be Included.
Previous bad debts should not be allowed to taint the current state of affairs
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09dolphin
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Post by 09dolphin on Sept 1, 2018 8:53:17 GMT
I think perhaps we should have a statute of limitation as to when we stop mentioning the screw ups as justification for saying you have to cash in. The same old bad Loans are mentioned time after time after time and then the assumption that every late loan is going to follow suit when there is no real evidence. It is all speculation. A lot of the Loans more than 30 days late have recently paid and more are nearing resolution when a more accurate measure of how the platform is doing can be assessed. I think performance should be measured on a six month rolling period and only loans that fall within two consecutive periods should be Included. Previous bad debts should not be allowed to taint the current state of affairs I totally disagree.
Why shouldn't we be allowed to comment on the management of loans that are still to be resolved ie Power Boat or Whitehaven which are a disgrace. Or loans which were grossly overvalued as evidenced by auction values which were achieved and leave investors with a significant loss.
I distinctly recall numerous examples of people posting about loans being repaid or renewed.
The suggestion that only loans in a 2 times six month rolling period can be commented on is disgraceful. That would exclude existing active loans which are really in default to all intents and purposes - just FS don't want to admit this.
Of course previous BAD DEBTS should be allowed to "taint the current state of affairs" as it reflects the competence of FS to historically manage bad debt which affects lenders. After all a couple of months when their competency suggests a change should not be taken to indicate that the change is embedded in the culture of FS. Who knows why this occurred - I don't and there has been no statement from FS suggesting a policy change.
Trust takes time to rebuild and the management of previous loans should influence existing and prospective lenders - what else can borrowers take as evidence of the competency of FS in managing loans where the LTV is excessive.
I personally believe that FS need to have more realistic LTVs ie Lytham St Annes (which is beyond belief) and FS have a responsibility to present realistic LTVs. After all if investors can suggest more realistic LTV surely FS can do the same.
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Sept 2, 2018 2:18:48 GMT
PAST PERFORMANCE IS NO INDICATION OF FUTURE PERFORMANCE
That warning is present on every investment. That applies to gains and losses . We would all be millionaires if we could predict gains or losses. Even the best fund managers make mistakes. It is all speculation NOTHING is definitive until loans are complete and if required all recovery options exhausted.
Even Gods rely on faith and if the world is anything to go by they make mistakes on a massive scale.
Make your on choices. If you want higher returns then you take higher risks.
If you want little risk then sell all loans after 60 days at -1%. Which appears to be happening now .If you do this LTV or LTGDV don’t matter in the slightest as you won’t be holding loans to completion.
Those that are willing to wait till repaid will be happy to buy. And you get a nice 6% return.
Current example in the real world is Cross rail it will be 9 months late at least. That’s the nature of most loans based on developments.
If you accept that fact and factor it in to your calculations you will be able have a holistic view and not fixate on the less than perfect
investments life is a lot less stressful.
Two things that aid wellbeing are for every day ask 2 questions
1. Did I Wake up ? If you do then that’s a good day.
2. Do I have more money than I had 6 months ago. ? Even those critical of FS and other p2p unless feckless the answer should be yes. Therefore an even better day.
So relax and enjoy life.
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. I need to make 25k a year to pay mother’s care home from her house sale/savings 
