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Post by df on Nov 3, 2019 14:22:19 GMT
I quite like the changes to the user interface, nice clean lines. Also the rather unloved pool is no longer visible straight away. I only have a fairly token presence as it seems that the platform is not really taking off. It probably has just enough of a pulse to keep alive, but does appear to be in a coma. I don't dislike the changes, but it does seem to me to be yet another pointless cosmetic change when there are far more important issues that should be addressed first. I've recently initiated some withdrawals and trying to determine their exact state is completely incomprehensible. This includes blatantly incorrect information as to how much has been transferred out (eventually corrected 10 days after notifying them), and utterly confusing info as to why some loans haven't been sold on. All in all, could do much better. I like this change. Balance, total earnings (summed instead of split) and XIRR is what I would like to see at a glance. It would've been great to have this display a year ago. The problem of course is that hardly any lending is taking place and problems with selling loan parts whilst the pool is very full is worrying.
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Ukmikk
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Post by Ukmikk on Nov 3, 2019 14:44:42 GMT
Not to mention the dubious ethics and sometimes bizarre attitude of the platform management, errors in the platform mechanics and general lack of transparency. I hope that things improve and the platform is a success in the long run, but for now I'm glad to be out. I'm genuinely surprised if lenders are still hanging in there and would be interested to hear their reasons why.
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zlb
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Post by zlb on Nov 3, 2019 20:21:07 GMT
I've only left a small amount in there, but decided to close it now... And it's not indicating that the 36% in the pool can be withdrawn anyway. Ever since things ground to a halt several months ago, it's never corrected, even with the broadest loan settings. I also don't like the nature of communications on here.
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Post by Badly Drawn Stickman on Nov 3, 2019 21:05:01 GMT
Not to mention the dubious ethics and sometimes bizarre attitude of the platform management, errors in the platform mechanics and general lack of transparency. I hope that things improve and the platform is a success in the long run, but for now I'm glad to be out. I'm genuinely surprised if lenders are still hanging in there and would be interested to hear their reasons why. Happy to oblige, the only money I have on the platform is my 'profit' to date so I regard it as a free hit. My account has just enough activity to make it worth leaving and monitoring. The platform has not yet gained traction but may at some point. If activity does not increase over the next six months I will withdraw (assuming I can, other posts suggest that element is not running smoothly). Clearly there are issues with the system somewhere that I have consistently had money pooled (I have three separate segments- for want of a better word) but money is occasionally lent, usually followed by a return elsewhere fairly soon. Probably the main reason is curiosity.
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Post by df on Nov 3, 2019 21:40:26 GMT
Not to mention the dubious ethics and sometimes bizarre attitude of the platform management, errors in the platform mechanics and general lack of transparency. I hope that things improve and the platform is a success in the long run, but for now I'm glad to be out. I'm genuinely surprised if lenders are still hanging in there and would be interested to hear their reasons why. Good question. My main reason is because my overall Welendus portfolio is still performing at 12.5%. I don't add any new money and inclined to rescue my investments when they dive too deep into the pool. It's a gamble and I wouldn't recommend to follow this path to anyone.
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Post by nooneere on Nov 3, 2019 22:07:08 GMT
They said they'd sent money to my bank account on 25 October. It has yet to arrive and the balance of the investment is seemingly stuck. Not sure what's going on here. I requested a withdrawal on 27th October, and they are estimating completion by Sept 2024.........!  I am not sure if the most recent posts have taken on board just how ominous the above experiences are. I withdrew everything way back in May and have been watching subsequently to see if I would ever return. Feel like I am watching a car crash in slow motion.
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liso
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Post by liso on Nov 3, 2019 22:31:17 GMT
I am not sure if the most recent posts have taken on board just how ominous the above experiences are. I withdrew everything way back in May and have been watching subsequently to see if I would ever return. Feel like I am watching a car crash in slow motion. Ditto
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Nov 4, 2019 0:01:17 GMT
They said they'd sent money to my bank account on 25 October. It has yet to arrive and the balance of the investment is seemingly stuck. Not sure what's going on here. I requested a withdrawal on 27th October, and they are estimating completion by Sept 2024.........! That seems to be the default display, which shows the date your last loan would finish. Despite saying that, mine was out within two days a few months back.
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Post by Ace on Nov 4, 2019 7:51:37 GMT
Not sure what's going on here. I requested a withdrawal on 27th October, and they are estimating completion by Sept 2024.........! That seems to be the default display, which shows the date your last loan would finish. Despite saying that, mine was out within two days a few months back. It's certainly slowed up since then. I'm still waiting for any cash from a withdraw on 21st Oct.
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Post by Badly Drawn Stickman on Nov 4, 2019 9:25:13 GMT
That seems to be the default display, which shows the date your last loan would finish. Despite saying that, mine was out within two days a few months back. It's certainly slowed up since then. I'm still waiting for any cash from a withdraw on 21st Oct. Just for clarity Ace have you received nothing, or did the (assuming fairly safely I suspect) pooled portion get paid and you eagerly await sale of loan parts?
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Nov 4, 2019 9:34:15 GMT
It's certainly slowed up since then. I'm still waiting for any cash from a withdraw on 21st Oct. Just for clarity Ace have you received nothing, or did the (assuming fairly safely I suspect) pooled portion get paid and you eagerly await sale of loan parts? Can't speak for Ace, but I haven't even received the pooled portion.
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Post by Ace on Nov 4, 2019 9:35:52 GMT
It's certainly slowed up since then. I'm still waiting for any cash from a withdraw on 21st Oct. Just for clarity Ace have you received nothing, or did the (assuming fairly safely I suspect) pooled portion get paid and you eagerly await sale of loan parts? Nothing at all from 6 separate withdrawals of varying dates from 21st Oct.
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Post by Badly Drawn Stickman on Nov 4, 2019 9:53:00 GMT
Thanks for the clarity jonno and AceClearly that is a major change, last time I withdrew the pooled portion was paid same day and the sales a few days later. I suppose the next obvious question is when did anybody last get a payment out (looks look mine was a good while ago, when I emptied out and reset). |
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Mucho P2P
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Post by Mucho P2P on Nov 4, 2019 10:05:26 GMT
I have removed all capital (at last), due to the lack of concise answers to some basic question I sent in to support, their obscure operations, and small size of loan book which is not expanding sufficiently.
The "Accumulative total amount lent" has not grown convincingly over the past year, despite their crowd funding session, which injected much working capital into the company - clearly not used for effective advertising.
The behaviour, is somewhat reminiscent to Lendy and FS where my questions were sidelined or I received answers that did not specifically address my [comparatively simple] queries and concerns.
Conclusion, account withdrawn (several months ago, and then it was a SLOW process - weeks), before I end up another statistic of a company in administration, or until sometime in the future when there appears to be growth.
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Ukmikk
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Post by Ukmikk on Nov 4, 2019 11:26:16 GMT
Thanks for the clarity jonno and AceClearly that is a major change, last time I withdrew the pooled portion was paid same day and the sales a few days later. I suppose the next obvious question is when did anybody last get a payment out (looks look mine was a good while ago, when I emptied out and reset). My last cash WD was on 13 Aug. My ISA investments were finally all sold on 17 Sept after 45 days from WD request. ISA Transfer of funds was completed on 25 Sept.
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