zlb
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Post by zlb on May 28, 2019 11:30:55 GMT
When looking at whether to buy on the exchange, I'm seeing that borrowers are registering charges for new debt with other lenders, such as debenture, after the c2f loan date. In one case, I saw a c2f charge, in e.g. another I can't see it - which means that there is no fixed security perhaps? Often these charges are with banks - although I can't see whether that is a property mortgage or not, although I'm only scanning - also not easy to see a figure. Anyway, what's going to happen if there are charges listed on companies house for a c2f business - will they take priority? Nearly all loans are under a personal guarantee (think there have only been a couple with collateral/fixed security) so would suggest its more risky as i assume the banks have their loans on the business and would come first. Maybe worth asking them - but i think they have a couple of loans going through the courts so time may tell how well they do in bankruptcy recovery But the PG would take precedence over any equity holders in the borrower where the borrower has raised money with selling shares, or awarded themselves shares instead of 'pay'? (not c2f equity itself)
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macq
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Post by macq on May 28, 2019 12:46:30 GMT
i invested a small sum in C2F at the start and have just let it rollover for the most part but i did know going in that for many the PG is considered not very good/strong/worthless on its own so it will be interesting to see how much they get back on defaults after courts but i did see on One loan they where talking of the borrower selling there home to pay back after bankruptcy and on another loan mention of an administrator seeing who gets what I have seen in the questions section of new loans where people ask what other loans the business has but i'm not sure how relevant that is for most of their loans under a default apart from how much would be left after the banks etc have had their money first.The other question that gets asked is what is the security on the loan and the answer is always just a PG. Not sure what you mean(probably me!) by equity holders or shares as i assume nearly all are to small a business for that?
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macq
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Post by macq on May 28, 2019 12:58:01 GMT
On a side note i see Matt Hancock who is standing in the PM elections is the brother of Chris Hancock CEO of C2F so hopefully he has a bit invested as well OK... insider knowledge can work either way though ... Just the thought of a PM with family connections to P2P made me smile.But as minister for enterprise he did work in the dept which set up the regs for crowdfunding which i did not know until reading an old Guardian story earlier
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zlb
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Post by zlb on May 28, 2019 13:27:32 GMT
Surely there would have been a bit of family advice then. So family members who are MPs don't have to declare an interest in setting up a framework which impacts the business success of a friend or relative...
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macq
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Post by macq on May 28, 2019 13:36:50 GMT
think it works the other way as it says in the story that Matt Hancock declared his brothers connection to C2F at the time
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zlb
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Post by zlb on May 29, 2019 9:13:57 GMT
i invested a small sum in C2F at the start and have just let it rollover for the most part but i did know going in that for many the PG is considered not very good/strong/worthless on its own so it will be interesting to see how much they get back on defaults after courts but i did see on One loan they where talking of the borrower selling there home to pay back after bankruptcy and on another loan mention of an administrator seeing who gets what I have seen in the questions section of new loans where people ask what other loans the business has but i'm not sure how relevant that is for most of their loans under a default apart from how much would be left after the banks etc have had their money first.The other question that gets asked is what is the security on the loan and the answer is always just a PG. Not sure what you mean(probably me!) by equity holders or shares as i assume nearly all are to small a business for that? I mean equity holders in c2f - when they do the equity fund raising as a loan/borrower on the platform itself, minimum £5k input.
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zlb
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Post by zlb on May 29, 2019 9:15:02 GMT
think it works the other way as it says in the story that Matt Hancock declared his brothers connection to C2F at the time thanks. seems like a reasonable bit of scaffolding.
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Post by sas100 on Jul 13, 2019 12:11:10 GMT
Has anyone had many defaults on c2f? I have noticed a few creeping in
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Post by Deleted on Jul 13, 2019 16:36:37 GMT
This is my worst P2P lender for defaults and its even worse if you recalculate defaults in a similar way to other lenders like Funding Circle (my second worst) I have more confidence that they will recover more of it than FC, but I am not reinvesting with either.
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Post by Deleted on Jul 16, 2019 11:55:28 GMT
Anyone else get a "loyal lender" free hamper? I love a freebie, but what i would have really liked is a downloadable transaction analysis!
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macq
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Post by macq on Jul 16, 2019 12:55:40 GMT
Anyone else get a "loyal lender" free hamper? I love a freebie, but what i would have really liked is a downloadable transaction analysis! no - but maybe i need to complain like your previous post
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Post by Deleted on Jul 17, 2019 21:19:20 GMT
It was just part of a lender update letter. If I had got it for complaining to them I would never have to shop for food again.
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zlb
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Post by zlb on Jul 18, 2019 11:16:42 GMT
It was just part of a lender update letter. If I had got it for complaining to them I would never have to shop for food again. A letter... I just get emails. I think I deserve a hamper. Most of my troubled loans look to be well managed and in arrangement. 8.8% of live loans in a state other than perfect(arrangement/catching up etc), 1.6% in admin or default. 13% of revenue-loans in a state other than perfect (arrangement/catching up etc), 0% in admin or default.
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Post by Deleted on Jul 19, 2019 15:58:59 GMT
I reread this letter before recycling and I am still not sure whether it is specific to me. Perhaps sent to those withdrawing their funds as i did have a email asking me to make a appointment to discuss this with them after the hamper was delivered.
In case anyone is interested: they have 10% increase in investors since April; Have been named 64th best tech company by the Telegraph; Average lending rate is 10.52%; Bizarrely, it notes that some investors earn "even more than the platform average"; More than 90% earn a Net Profit; they have been selected by the Dept of international trade to "lead the charge on their new FinTech Bridge".
I'm still withdrawing....but not selling.
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zlb
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Post by zlb on Jul 19, 2019 16:50:47 GMT
I reread this letter before recycling and I am still not sure whether it is specific to me. Perhaps sent to those withdrawing their funds as i did have a email asking me to make a appointment to discuss this with them after the hamper was delivered. In case anyone is interested: they have 10% increase in investors since April; Have been named 64th best tech company by the Telegraph; Average lending rate is 10.52%; Bizarrely, it notes that some investors earn "even more than the platform average"; More than 90% earn a Net Profit; they have been selected by the Dept of international trade to "lead the charge on their new FinTech Bridge". I'm still withdrawing....but not selling. are you in the 10% who haven't made a net profit? It would be good if they could share the investment approach of those who are.
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