kaya
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Post by kaya on Mar 18, 2019 13:25:38 GMT
Are recent loan offerings looking better now? Are things looking up at Rebs?
Although still not happy with the amount of recoveries achieved (almost nil) from the goons, chancers, and 'fake' businesses I previously lent to, or the worthless security offered (such as Personal Guarantee Insurance, or whatever it was called), some recent loans have looked reasonable to me.
Is your confidence in Rebs improving?
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Post by danraj on Mar 18, 2019 13:42:19 GMT
Thanks for opening this thread kaya, I feel that we deserve another look, especially since various lender portfolios have 'normalised'... Historically, we have recovered 20% of defaults, this recovery rate climbs as recoveries come in and new defaults fall below the 14% average. Not every loan will repay in full, but we are one of the few platforms that haven't applied downwards pressure on the interest rates. Many other platforms have increased lending volumes by being more competitive on their interest rate. Would you kindly share what your overall Net Return is? I'm interested to know if it is above or below the platform average. If it is below, then please email support and we review your portfolio to let you know what can be done to improve your overall performance. Thanks |
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seb8072
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Post by seb8072 on Mar 19, 2019 13:53:50 GMT
Are recent loan offerings looking better now? Are things looking up at Rebs?
Although still not happy with the amount of recoveries achieved (almost nil) from the goons, chancers, and 'fake' businesses I previously lent to, or the worthless security offered (such as Personal Guarantee Insurance, or whatever it was called), some recent loans have looked reasonable to me.
Is your confidence in Rebs improving?
Not really Many of the new loans have a security of PG which is next to worthless. Before my confidence in RBS starts to improve I would like to see defaulted loans pursued more vigorously and more frequent updates. The following non-performing loans haven't had updates for almost six months or more and some nearly a year: A**** R********** S******** LTD C******* B******* M********** LTD F****** E******** H*** LTD G* F**** (Y***) LTD I** P******* LTD K****** G******* LTD L******* S***** S***** I******* D***** LTD L** J*** LTD O****** F****** & L****** LTD P*** A*** (R******) LTD P****** T******* LTD S***** S*** F******* LTD S****** W****** LTD
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kaya
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Post by kaya on Mar 19, 2019 14:10:06 GMT
Agreed the recoveries are pathetic (so far). Although my net return shows over 11%, this I believe factors in the estimated recoveries, which I consider misleading, given my experience of recoveries so far. As for personal guarantees, I never factor them into a decision to invest , they being next to worthless indeed.
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Post by captainconfident on Mar 19, 2019 14:34:35 GMT
REBS had a good year in 2018 with few defaults and I am increasing my investments.
Borrowers paying 15-20% interest rates will usually be high risk and have little in the way of assets, but might have good business plans and be well worthy of support. All this averages out over time to give a higher aggregate rate than similar platforms, in my long Rebs experience.
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Post by df on Mar 20, 2019 9:12:20 GMT
Are recent loan offerings looking better now? Are things looking up at Rebs?
Although still not happy with the amount of recoveries achieved (almost nil) from the goons, chancers, and 'fake' businesses I previously lent to, or the worthless security offered (such as Personal Guarantee Insurance, or whatever it was called), some recent loans have looked reasonable to me.
Is your confidence in Rebs improving?
I've only been with Rebs for 2 years. I have some defaults, which I expected when started with Rebs. I'm happy with results so far - my current average net return is 12.36%. I haven't had a chance to loose my confidence in Rebs yet.
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baldpate
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Post by baldpate on Apr 17, 2019 16:33:33 GMT
.... I haven't had a chance to loose my confidence in Rebs yet. Don't worry - it'll happen soon enough! 
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Post by df on Apr 17, 2019 19:06:09 GMT
.... I haven't had a chance to loose my confidence in Rebs yet. Don't worry - it'll happen soon enough! If it falls below 7% I will put everything up for sale. So far it is 11.39%, so I'm not too worried about it yet.
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Post by gravitykillz on Apr 20, 2019 23:28:07 GMT
Why anyone would bother with this platform when you could get 7 to 15% on welendus is beyond me. Why risk your capital ? Welendus has a provision fund and no one yet has lost a penny.
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kaya
Member of DD Central
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Post by kaya on Apr 21, 2019 8:41:09 GMT
''yet'' is a rather important qualifying word. There was the time, not so long ago, they said that about Lendy...
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Post by df on Apr 22, 2019 1:33:09 GMT
Why anyone would bother with this platform when you could get 7 to 15% on welendus is beyond me. Why risk your capital ? Welendus has a provision fund and no one yet has lost a penny.
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Post by oppsididitagain on May 30, 2019 15:44:08 GMT
Are recent loan offerings looking better now? Are things looking up at Rebs?
Although still not happy with the amount of recoveries achieved (almost nil) from the goons, chancers, and 'fake' businesses I previously lent to, or the worthless security offered (such as Personal Guarantee Insurance, or whatever it was called), some recent loans have looked reasonable to me.
Is your confidence in Rebs improving?
Not really Many of the new loans have a security of PG which is next to worthless. Before my confidence in RBS starts to improve I would like to see defaulted loans pursued more vigorously and more frequent updates. The following non-performing loans haven't had updates for almost six months or more and some nearly a year: A**** R********** S******** LTD C******* B******* M********** LTD F****** E******** H*** LTD G* F**** (Y***) LTD I** P******* LTD K****** G******* LTD L******* S***** S***** I******* D***** LTD L** J*** LTD O****** F****** & L****** LTD P*** A*** (R******) LTD P****** T******* LTD S***** S*** F******* LTD S****** W****** LTD Agreed I still have 23 loans not performing. Some of these have been non performing for over 3 years now. Poor communication, Poor recovery rate, and some loans still do not have a DD or SO set up and pay when they feel like it. There is a saying with investing. "Past performance is no guarantee of future results." I hope this comes true at ReBS and they have a bright future However IMHO they do not put the lenders 1st and therefore I will not be investing with them ever again.
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Post by danraj on Aug 14, 2019 15:35:53 GMT
oppsididitagain We are working to improve our service, communication and lending performance. Lenders who do not want to hold defaulted microloans can now choose to to use the BuyBack Guarantee provided by other lenders who are willing to take the risk and hold non-performing assets through to enforecement and recovery. We have kept our fee structure very thin, thereby passing more margin onto our lenders. We aim to treat all our customers fairly and professionally and welcome you to give us a(nother) try.
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seb8072
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Post by seb8072 on Aug 14, 2019 16:18:19 GMT
oppsididitagain We are working to improve our service, communication and lending performance. Lenders who do not want to hold defaulted microloans can now choose to to use the BuyBack Guarantee provided by other lenders who are willing to take the risk and hold non-performing assets through to enforecement and recovery. We have kept our fee structure very thin, thereby passing more margin onto our lenders. We aim to treat all our customers fairly and professionally and welcome you to give us a(nother) try. Hello danraj Are you trying to tell me that there are other lenders who would take on the risk of the defaulted loans such as those listed above? If so, please tell me more. How do I proceed? I thought loans had to be listed on the "dashboard" in order to sell them?
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baldpate
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Post by baldpate on Aug 15, 2019 20:50:10 GMT
I'm sure you don't really think the platform offers a way to offload your already-defaulted loans .
danraj is just taking advantage of this thread to introduce a bit of promotional spin for his platform, by mentioning a new feature which is pretty-much irrelevant to the points being made about poor recovery performance.
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