Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011 
Likes: 1,013
|
Post by Godanubis on Mar 22, 2019 9:41:29 GMT
The secondary marked has shrunk considerably over the last few weeks which I expected as tax liabilities for maturing saleable loans would be in next years returns.
The overall effect is reducing returns from 18% to 15%. The lack of larger loans currently unsalable an not paying back means there is little “old money” being reinvested. There are not many truely New loans most are now renewals and supplementary loans.
We need quicker recoveries and fresh New loans to breathe a bit of life into the platform.
|
|
aj
Member of DD Central
Posts: 345
Likes: 452
|
Post by aj on Mar 22, 2019 10:05:35 GMT
Agreed, I am at the full exposure I am willing to take in FS and my funds are all locked up in overdue loans. Their platform isn't going to grow if investors cash is not growing.
|
|
number5
Member of DD Central
Posts: 449
Likes: 98
|
Post by number5 on Mar 22, 2019 10:30:18 GMT
I also agree...I have 5 figure sums tied up in overdue loans...ones that have been promised repayments....I have tried to get updates on many occasions and I get no meaningful replies....just the same lines.
I have stopped investing more into all the dud 'new' loans that appear and started to move my funds to WLU
Once I get repayments from a couple of my big loans, I will re look at how the platform is performing. However at the moment there is not enough money flowing through the platform in either the PM or SM that fills me with confidence - and I have been one of the more patient ones!
|
|
james21
Member of DD Central
Posts: 651
Likes: 669
|
Post by james21 on Mar 22, 2019 10:42:12 GMT
you need to tell them you are not happy via chat or email not sit back and accept it, needless to say I do
|
|
number5
Member of DD Central
Posts: 449
Likes: 98
|
Post by number5 on Mar 22, 2019 10:43:58 GMT
you need to tell them you are not happy via chat or email not sit back and accept it, needless to say I do I have many times...including emails and phone calls, live chat....but just get spun the same lines
|
|
james21
Member of DD Central
Posts: 651
Likes: 669
|
Post by james21 on Mar 22, 2019 10:57:42 GMT
you need to tell them you are not happy via chat or email not sit back and accept it, needless to say I do I have many times...including emails and phone calls, live chat....but just get spun the same lines More need to do what we are doing. Next step is to make a complaint, only takes a few minutes to write an email, you have done the first step by contacting them by email chat etc if the situation has not improved then complain, if folk sit back and accept it the situation will not be addressed
|
|
arby
Member of DD Central
Posts: 910
Likes: 959
|
Post by arby on Mar 22, 2019 11:02:09 GMT
I have many times...including emails and phone calls, live chat....but just get spun the same lines More need to do what we are doing. Next step is to make a complaint, only takes a few minutes to write an email, you have done the first step by contacting them by email chat etc if the situation has not improved then complain, if folk sit back and accept it the situation will not be addressed FS have stated consistently in each communication for the last few months that their priority is tackling the amount of overdue loans they have. I am not fully confident in their ability to tackle it, but if the purpose of your emails/complaints is to raise awareness of it then I'm not sure it's needed; they are fully aware it needs to be addressed. If it's a specific complaint about an individual loan then obviously that's a different maytter.
|
|
|
|
Post by portlandbill on Mar 22, 2019 11:11:05 GMT
Lendy went the same way
|
|
james21
Member of DD Central
Posts: 651
Likes: 669
|
Post by james21 on Mar 22, 2019 12:38:39 GMT
More need to do what we are doing. Next step is to make a complaint, only takes a few minutes to write an email, you have done the first step by contacting them by email chat etc if the situation has not improved then complain, if folk sit back and accept it the situation will not be addressed FS have stated consistently in each communication for the last few months that their priority is tackling the amount of overdue loans they have. I am not fully confident in their ability to tackle it, but if the purpose of your emails/complaints is to raise awareness of it then I'm not sure it's needed; they are fully aware it needs to be addressed. If it's a specific complaint about an individual loan then obviously that's a different maytter. Agreed, I am referring to specific loans of lenders choice, eg one that has run for over a year, no updates in more than a month and obvious poor management derived from the updates eg borrower refinancing but nothing happens for months
|
|
michaelc
Member of DD Central
Posts: 4,901
Likes: 2,770
|
Post by michaelc on Mar 22, 2019 17:11:46 GMT
I think its possible but I don't think that tipping point has been reached yet. Time will tell.
|
|
arby
Member of DD Central
Posts: 910
Likes: 959
|
Post by arby on Mar 22, 2019 17:18:14 GMT
I think its possible but I don't think that tipping point has been reached yet. Time will tell. More than £2m paid back in the last few days hasn't hurt any... I've put a chunk of that back in.
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Mar 22, 2019 17:23:28 GMT
Good to see...shame that a sapphire 3202983802 valued at £1K is sold for £275..so much for pawn loans..
|
|
|
|
Post by beepbeepimajeep on Mar 22, 2019 17:35:26 GMT
Good to see...shame that a sapphire 3202983802 valued at £1K is sold for £275..so much for pawn loans.. Sapphire 1942137448 just completed with a return of 35% of the capital invested. So much for a 66.67% LTV eh fundingsecure. Ridiculous
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Mar 22, 2019 17:48:18 GMT
Good to see...shame that a sapphire 3202983802 valued at £1K is sold for £275..so much for pawn loans.. Sapphire 1942137448 just completed with a return of 35% of the capital invested. So much for a 66.67% LTV eh fundingsecure . Ridiculous I suppose the likelihood that both sapphires were to the same borrower would be too much of a coincidence..erm  ..and as for the valuations..stone, paper or scissors ? that'll do 
|
|
|
|
Post by df on Mar 22, 2019 18:05:44 GMT
I think its possible but I don't think that tipping point has been reached yet. Time will tell. More than £2m paid back in the last few days hasn't hurt any... I've put a chunk of that back in. 1933 Ford repaid in full Defaulted Eternity Ring repaid in full with 383 days interest 43% of Military Collection has been repaid Can't remember when was the last time so many pawn was repaid in one day. I would've put it back in, but today's harvest is not hitting the minimum for Albion-bridging. I'll wait for future pawn handouts 
|
|
..and as for the valuations..stone, paper or scissors ? that'll do 
