ashtondav
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Post by ashtondav on Dec 4, 2018 15:35:41 GMT
£27,000 invested. In November, £152 in interest, £172 in bad debt, and £323 repayments from defaults. I'm assuming this was due to the sale of defaulting loans?
As I have been withdrawing repayments from ZOPA for more than two years now (from a high of £75,000) I assume that pretty soon i will be left with only non performing loans for the last few months/years of my account.
Even with an early adopter bonus of 1% the rates just aren't competive with AC 30DA, Ratesetter (sometimes), and LendingWorks
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benaj
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Post by benaj on Dec 4, 2018 15:50:49 GMT
Same here. The loan sale gave me a total of 0.29% of all time investment from bad debt repayment, my previous highest bad debt repayment was only 0.08% of al time investment amount in August.
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aju
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Post by aju on Dec 4, 2018 17:16:46 GMT
So Mrs Aju and I are not running down our Zopa accounts (2 each) in fact just the opposite, November has been and interesting comparison with the following numbers
Interest = £414
Defaults (New) = £180 (43% of Interest)
Bonus (2) = £19.99
Default returned = £86.82 (mostly from the settled sales)
Overall loan splits
Classic = 16%
Core = 64%
Plus= 20%
We are moving returns in the Invest Side over to the ISA side over the last few months.
I have started working with RS and getting a feel for how it works and how to stay away from Market Rate but still get the best and quickest lending - after all I am a sucker for free money too!. We may start to move non ISA stuff slowly across to RS, not selling though just returned Capital and Interest.
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Post by stevexxx on Dec 7, 2018 12:10:19 GMT
In my isa the interest was way down, bad debts was again more than income loosing me money for the 2nd month running however sales of bad debt bough it back a little keeping in in the black but only just.. If you check you might find bad debt sales is the reason for the boost..
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Post by erniec on Dec 7, 2018 14:52:45 GMT
I agree. November was actually a bad month, made to look good by the debt sale proceeds.
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aju
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Post by aju on Dec 7, 2018 15:05:47 GMT
In ISA side its been my experience that virtually no defaults returned anything much until this loan sale.
Both Mrs Aju and my first ISA defaults were back in Jan 2018. The experience of Invest defaults is a little better but by the same token cannot be measured as easily as the statements reports did not start until Jan 2015, I think.
I have queried some of our settled loans as my data checks indicated that some of the Settled had actually made a payment in Nov - I am still to check them all - Zopa did point out that whilst they did not inform us lenders of the impending sale until very recently the borrowers had to be informed about this status before it happened. What Zopa suggested was that some of the borrowers might have been spooked, my words not theirs, into making a payment to stave off the resultant sale and the consequence that might rain down on them either real or imagined who knows.
That said our experience of the overall defaults increase is that our worst months so far came to default, Not including the sale,
69% of interest received in Jan 2018
59% of interest received in Jun 2018
in Mrs Aju's case and my case it was
76% of interest received in Jan 2018
69% of interest received in Feb 2018
67% of interest received in Nov 2018
My figures will be slightly improved also with the early adopter fee (0.5%) that also received each month.
This month I got a £10 default shock (Another non payer I guess) on 1st so I had - earnings on day of -£10 - its picked up now though. I try not to have too much of visibility month on month and try to take a long game view but its not easy to not be freaked occasionally.
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Post by steamer on Dec 20, 2018 11:05:31 GMT
I had 12k in Zopa but decided to get out last year because of the dismal performance of Plus. They recognized that and so renamed it Core.
I am just withdrawing all in my Holding account.
24% of my capital is in Classic.
Over the last 12 months
91.5% of my interest has been wiped out by defaults. I haven't worked out what the performance without Classic was, but it would be rather worse. Guess with only 750 loans to juggle I ought to make the effort.
Recoveries excluding the November one off large payment are 3.5% of the defaults.
Adding in the large one off it comes up to 15.8% but then that comes from more than the last 12 months so
TOTAL recoveries for me - which started Dec 2016 - represent 9.4% of my TOTAL losses from Plus.
It would seem they made rather a too many ill advised loans so I neither know nor care how they have changed their policy as no longer trust them. Goodbye Zopa
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