mjc
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Post by mjc on Jan 4, 2019 11:20:03 GMT
When times are good (like now!) net returns on FS, Lendy etc, or any giving 10%+, are likely to be far less than those giving about 5%. When times get bad ........... it’s anyones guess. Yes my FS losses are greater than likely returns - in a few years time will have the proof.
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coop
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Post by coop on Jan 4, 2019 14:01:07 GMT
I've got one big recovery on MT pending. FS I dabbled in and got burned - probably put too much in per loan but with relatively little to invest and not many good opportunities. Couple of recoveries pending. Played FC for a while and did really well - until i stopped actively managing it so much and got lumped with a load of london property loan parts i should have shifted already  still well inprofit there though; although i gave up on it ages ago due to various changes. Fairly confident on a full recovery on the MT loan then I'm well in the black overall. Not so confident on the FS recoveries! |
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pom
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Post by pom on Jan 4, 2019 14:49:25 GMT
I have been unlucky (Im in Collateral, Lendy and Funding Secure!!) and by far the majority of my money is stuck in Lendy. Unlucky? Sounds more to me like you chose a very high risk strategy based on promised returns without really thinking it through as you've invested in 3 that were always going to be risky, with plenty of people on these boards pointing this out (even in the case of last years darling, COL - whilst the nature of the failure caught us all out, there had still people expressing caution here about various concerns), so it really shouldn't be that surprising. Which may be harsh (especially when its too late now), but some of us have been warning about this kind of stuff on these forums for years (and based on your registration date you've clearly been aware of this forum during that time)...yet there still seem to be far too many people investing through fear of missing out without enough consideration of risks. And however bad things may look now they are sure to get worse before they get better.
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Jan 4, 2019 17:24:15 GMT
I have been unlucky (Im in Collateral, Lendy and Funding Secure!!) and by far the majority of my money is stuck in Lendy. Unlucky? Sounds more to me like you chose a very high risk strategy based on promised returns without really thinking it through as you've invested in 3 that were always going to be risky, with plenty of people on these boards pointing this out (even in the case of last years darling, COL - whilst the nature of the failure caught us all out, there had still people expressing caution here about various concerns), so it really shouldn't be that surprising. Which may be harsh (especially when its too late now), but some of us have been warning about this kind of stuff on these forums for years (and based on your registration date you've clearly been aware of this forum during that time)...yet there still seem to be far too many people investing through fear of missing out without enough consideration of risks. And however bad things may look now they are sure to get worse before they get better. I agree I have asked anyone to show me an overall loss where they have invested between 0.1% and 1% maximum in any one loan. That coupled with reasonable DD should net a reasonable positve return. Nobody to date has shown me any evidence of this.
There are a lot of people new to P2P (and a few not so new) that don't follow this principal and then blame the platforms for their errors.
There will always be defaults and fraud all you can expect is that platforms do their utmost to vet the borrowers and then QUICKLY and EFFICIENTLY take the steps neseccary to bring the borrowers into line or persue for any delinquent funds.
Sadly this has been lacking, However I am hopeful for the future as most seem to have learned the lesson that lenders wont stand for diffidence and expect aggressive treatment of those that seek to pull a fast one.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jan 4, 2019 17:38:30 GMT
Unlucky? Sounds more to me like you chose a very high risk strategy based on promised returns without really thinking it through as you've invested in 3 that were always going to be risky, with plenty of people on these boards pointing this out (even in the case of last years darling, COL - whilst the nature of the failure caught us all out, there had still people expressing caution here about various concerns), so it really shouldn't be that surprising. Which may be harsh (especially when its too late now), but some of us have been warning about this kind of stuff on these forums for years (and based on your registration date you've clearly been aware of this forum during that time)...yet there still seem to be far too many people investing through fear of missing out without enough consideration of risks. And however bad things may look now they are sure to get worse before they get better. I agree I have asked anyone to show me an overall loss where they have invested between 0.1% and 1% maximum in any one loan. That coupled with reasonable DD should net a reasonable positve return. Nobody to date has shown me any evidence of this.
There are a lot of people new to P2P (and a few not so new) that don't follow this principal and then blame the platforms for their errors.
There will always be defaults and fraud all you can expect is that platforms do their utmost to vet the borrowers and then QUICKLY and EFFICIENTLY take the steps neseccary to bring the borrowers into line or persue for any delinquent funds.
Sadly this has been lacking, However I am hopeful for the future as most seem to have learned the lesson that lenders wont stand for diffidence and expect aggressive treatment of those that seek to pull a fast one.
And justifiably so IMHO, when the "Valuations" have been proven to be nothing less than fraudulent, and yet still presented by a Platform as "gospel".
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picnicman
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Post by picnicman on Jan 4, 2019 17:44:43 GMT
I agree I have asked anyone to show me an overall loss where they have invested between 0.1% and 1% maximum in any one loan. That coupled with reasonable DD should net a reasonable positve return. Nobody to date has shown me any evidence of this.
There are a lot of people new to P2P (and a few not so new) that don't follow this principal and then blame the platforms for their errors.
There will always be defaults and fraud all you can expect is that platforms do their utmost to vet the borrowers and then QUICKLY and EFFICIENTLY take the steps neseccary to bring the borrowers into line or persue for any delinquent funds.
Sadly this has been lacking, However I am hopeful for the future as most seem to have learned the lesson that lenders wont stand for diffidence and expect aggressive treatment of those that seek to pull a fast one.
And justifiably so IMHO, when the "Valuations" have been proven to be nothing less than fraudulent, and yet still presented by a Platform as "gospel". - happy new year my good man!!!!! If Coll goes 100% pop I will be at about break-even over two years - Cheers P
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jan 4, 2019 19:47:49 GMT
I think we are both in a rather large boat, with many others picnicman. Methinks both BDO and The FCA need to be somewhat cautious with their actions, for they know not what the merde storm that is building and will shower down on their innocent countenances. But, of course, neither of them cares a jot, so let the showering commence! In due course, of course. In due course.  |
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angrysaveruk
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Say No To T.D.S
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Post by angrysaveruk on Jan 4, 2019 20:01:42 GMT
Over the last 5 years I have lost approximately 5% of my interest earned to bad debts. Although in the last year it is something like 25% of interest earned, probably an omen...
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Post by captainb on Jan 4, 2019 20:26:44 GMT
2 years in and significantly down. Archive I,'ve lost nearly double what my interest is. L.C. have so many late and in arrears, that when they jump into the bad debt figure will also show a loss. Even when diversified, a couple of bad debt losses eats art the interest rapidly. Its like picking boxes on Deal or no Deal, some are good, others ruin you. I can,t see how anyone wins in the end as guarantees and valuations are worthless in too many cases.
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mjc
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Post by mjc on Jan 4, 2019 21:52:07 GMT
I agree I have asked anyone to show me an overall loss where they have invested between 0.1% and 1% maximum in any one loan. That coupled with reasonable DD should net a reasonable positve return. Nobody to date has shown me any evidence of this.
There are a lot of people new to P2P (and a few not so new) that don't follow this principal and then blame the platforms for their errors.
There will always be defaults and fraud all you can expect is that platforms do their utmost to vet the borrowers and then QUICKLY and EFFICIENTLY take the steps neseccary to bring the borrowers into line or persue for any delinquent funds.
Sadly this has been lacking, However I am hopeful for the future as most seem to have learned the lesson that lenders wont stand for diffidence and expect aggressive treatment of those that seek to pull a fast one.
And justifiably so IMHO, when the "Valuations" have been proven to be nothing less than fraudulent, and yet still presented by a Platform as "gospel". Valuations up to 10 times their real value....... I wish I had found this forum sooner to save my fundingsecure losses from mounting so high. Description Amount Total interest earned £2,826.67 Total tax withheld £0.00 Capital losses from defaulted loans £2,725.00 Capital recovered from defaulted loans £457.56 AND MOST OF THE LOSSES ARE YET TO COME, they are virtually all well beyond the ‘expected’ date. And yes I am patient, but some won’t be finalised until long after I’m pushing up the daises. FS - AVOID. The average loan was UNDER 0.4%
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Greenwood2
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Post by Greenwood2 on Jan 4, 2019 22:18:50 GMT
As an early lender from the start of Zopa (and on many platforms since then), my Zopa earnings alone (ie, interest minus bad debt) over the last 13 ish years would more than cover all my bad debts on all other platforms to date. Not to say I have big losses elsewhere, although a few bad decisions more recently that I could have done without. Fortunately I didn't get too much into the 12% platforms.
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still well inprofit there though; although i gave up on it ages ago due to various changes.
