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Post by captainb on Oct 23, 2018 20:00:36 GMT
Losing 6K now. I and Archover have removed the recoveries loans off the payments calender. I guess they think we will just forget the losses. F***
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Post by hugoarchover on Oct 24, 2018 8:31:27 GMT
Hi captainb ArchOver certainly do not think you will just forget the losses and ArchOver are still doing and will continue to do everything we possibly can to recover your funds. We had many requests to remove the overdue payments from the payments calendar - all overdue payments have been available on each loan schedule. Would you like us to starting showing the payments again on the calendar? |
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liso
Member of DD Central
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Post by liso on Oct 24, 2018 9:09:52 GMT
Losing 6K now. I and Archover have removed the recoveries loans off the payments calender. I guess they think we will just forget the losses. F*** The loans in recovery are still listed under My Investments. No chance of forgetting them! 
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Post by captainb on Oct 24, 2018 9:35:32 GMT
Hi captainb ArchOver certainly do not think you will just forget the losses and ArchOver are still doing and will continue to do everything we possibly can to recover your funds. We had many requests to remove the overdue payments from the payments calendar - all overdue payments have been available on each loan schedule. Would you like us to starting showing the payments again on the calendar? Hello Hugo, Yes I feel it is a better representation overall of my status when all loans are on the calender.
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liso
Member of DD Central
Posts: 389
Likes: 394
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Post by liso on Jan 10, 2019 19:00:43 GMT
The administrators appear to be taking robust, tough action which is good to know, but it looks like the eventual recovery may be less than optimal.
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Post by captainb on Dec 21, 2019 14:52:06 GMT
11 months on, no conclusion
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Post by overthehill on Feb 11, 2020 17:25:04 GMT
15 months and Archover have finally set investors expectations at 20% recovery.
I've no idea how you can call these loans secured and insured, it's proved to be marketing and meaningless. I had another ********** default around the same time and exited Archover as my confidence had sunk to zero.
What due diligence took place at the loan renewal ?
A con couple disappears the money and just sticks two fingers up to the legal system and professionals, hides their assets and survive to do it again.
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liso
Member of DD Central
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Post by liso on Feb 12, 2020 9:53:17 GMT
Agreed overthehillThis has been my worst performing platform by far. My losses are set to substantially outweigh my returns, and this latest failure only adds to the misery. Getting out as fast as possible, but not fast enough. |
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jonno
Member of DD Central
nil satis nisi optimum
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Likes: 3,137
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Post by jonno on Feb 12, 2020 10:02:36 GMT
Agreed overthehill This has been my worst performing platform by far. My losses are set to substantially outweigh my returns, and this latest failure only adds to the misery. Getting out as fast as possible, but not fast enough. Totally agree. This is it for me also. I'm out asap and others should follow if they've got any sense.
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Post by overthehill on Feb 12, 2020 10:26:19 GMT
IMHO from a canny investor point of view, this is the wrong model to lend to unsecured (or what archover call their loans) businesses, rather lend in a model where your investment is spread thinly with a low maximum £0-100, across a lot of unique loans a bit like Funding Circle (not a promotion, I'm done with them as well).
Archover's interest rates look attractive but the minimum investment is too high for these small companies, there is no secondary market, the number of borrowers are low and the individual interest payments every month into your bank account were a pain to track.
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Post by captainb on Feb 14, 2020 6:08:14 GMT
Upto £45000 invested over nearly 3 years and my losses are greater than interest earned. Worst performing platform also. Disappointing to say the least.
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jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,742
Likes: 3,137
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Post by jonno on Feb 14, 2020 11:05:30 GMT
This crew get even worse. I emailed them to ensure that this latest disaster is at least reflected in their 19/20 tax report and they provided me with a less than reassuring answer on the basis that the loss of 80% is an "estimate" at this stage. So it looks like we're on our own if we want to offset it against 19/20 earnings  |
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Post by overthehill on Nov 6, 2020 21:33:12 GMT
More than 2 years on and still waiting on any recovery from this loan and the other loan "EX** Fin*". Out of £2000 I've received £50. Loans that were supposedly secured and insured, evidently not worth the paper they are written on, I bolted immediately. I know there is a 3rd default but are there more ?
Loans are still being filled, some brave souls out there. 100% losses (minus interest) on supposedly secured and insured actively monitored loans is total nonsense even if the rates are good. It's time the profitable company did the right thing and cough up for misleading investors.
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Post by stevepn on Nov 8, 2020 20:41:51 GMT
I had 10 different investments with Archover and not one default. This was just pure luck but looking back if I had continued with some of those investments I would have lost many thousands. When the first 2 investments failed they were supposedly secure. Archover is one P2P I would avoid like the plague. Archover were and probably still are very economical with the truth.
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Post by overthehill on Nov 8, 2020 21:50:42 GMT
I had 2 out of 9 defaulted. I hope to be proved wrong but I'm feeling duped at the moment, are they just going through the motions to keep the FCA happy. Tectonic plates do more in 27 months. It doesn't look like many investors use this forum, maybe Archover are relying more on institutional funding. Not a single confidential email explaining the impotence of the loans' security and insurance elements.
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