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Post by federix on Sept 19, 2014 12:25:38 GMT
I have joined Bondora less than a month ago and so far I have already had three investments completely paid off after a couple of weeks with no interest whatsoever. Does this happen a lot? I have basically lent £155 for two weeks at 0%: what an interesting investment platform...
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Post by batchoy on Sept 19, 2014 13:16:23 GMT
Apart from the comment that £155 over three loans is a large investment given the risk (unless you intend investing tens of thousands of euros on the platform), yes it does either because the loan does not get full filled or the borrower decides not to take the loan within the cooling off period, but the same thing regularly happens on other platforms as well particularly when you are dealing with personal loans with statutory cooling off periods.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323
Likes: 897
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Post by JamesFrance on Sept 19, 2014 19:16:04 GMT
Bondora have recently introduced much stronger identity checks to comply with regulation. This has caused many recent repayments because they have listed the applications before checking the id. Where the id checks have not been completed they have cancelled the loans and returned the funds to investors. This has not been ideal because their system showed cash transferred to borrowers, whereas it has been held elsewhere and there were even phantom interest payments made which were later cancelled and deducted from the repayments. I even had one which was initially loaned in April. At least there may be a benefit as we may have been protected from fraud and so a total loss.
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Post by federix on Sept 27, 2014 8:41:44 GMT
I get it. So it's not technically a repayment... but rather a non-loan ;-)
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duck
Member of DD Central
Posts: 2,864
Likes: 6,898
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Post by duck on Sept 30, 2014 17:01:26 GMT
I get it. So it's not technically a repayment... but rather a non-loan ;-) Yes, I check my 'repaids' weekly and prune out the expected payments, I find that easier than working through account balances.
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