Mucho P2P
Member of DD Central
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Post by Mucho P2P on Dec 11, 2018 22:32:36 GMT
Anyone else count loans as 24 months and put<1% in any loan and you will make a profit.(eventually) You mean 24months after the loan stops being repaid? So, for a loan with an original 12month term, don't be surprised if money is tied up for 36months? Yes that is correct. I also deal in non-P2P loans as well as P2P, and once a borrower gets "awkward" or does not want/can not repay, it might take a further 4-12 months since the loan became due in "discussing" the loan with the borrower. Then generally speaking if unsuccessful, it might take a further [upto] 24 months to extract the capital, depending upon circumstances.
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Mr_N
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Post by Mr_N on Dec 12, 2018 0:37:04 GMT
You mean 24months after the loan stops being repaid? So, for a loan with an original 12month term, don't be surprised if money is tied up for 36months? Yes that is correct. I also deal in non-P2P loans as well as P2P, and once a borrower gets "awkward" or does not want/can not repay, it might take a further 4-12 months since the loan became due in "discussing" the loan with the borrower. Then generally speaking if unsuccessful, it might take a further [upto] 24 months to extract the capital, depending upon circumstances. It's best not to obfuscate unsecured and secured borrowing.
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Mucho P2P
Member of DD Central
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Post by Mucho P2P on Dec 12, 2018 9:19:00 GMT
Yes that is correct. I also deal in non-P2P loans as well as P2P, and once a borrower gets "awkward" or does not want/can not repay, it might take a further 4-12 months since the loan became due in "discussing" the loan with the borrower <- as is one of many actions required/preferred by the Courts to eventually find in my favour. Then generally speaking if unsuccessful, it might take a further [upto] 24 months to extract the capital, depending upon circumstances. It's best not to obfuscate unsecured and secured borrowing. For clarification of doubt, I was referring to secured borrowing in my above comments.
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benaj
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Post by benaj on Dec 12, 2018 23:16:06 GMT
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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 Dec 12, 2018 23:34:03 GMT
Nope other Paul, the compliance officer.
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Post by baronhardup on Dec 22, 2018 9:16:39 GMT
Hhmm!... “enhanced recovery programme” - don't you just love marketing speak?
Wouldn't "pulling yer finger out" be more to the point?
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