bugs4me
Member of DD Central
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Post by bugs4me on Jan 12, 2022 19:14:19 GMT
If I don't see another penny of the remaining balance, I'll have come out of BM with an annualised return of ~2.5%. Wish I could say the same about the rest of my P2P adventures... It was very long time ago when I received last recovery repayment. I'm likely to come out with a small capital loss. I had two goes on BM. Came out of the first one with profit as projected (no loss). After a break decided to do it again and that's where my losses come from. As with most of "adventures" finishing at the right time is an advantage. I've got one more but it's overdue but not in the recovery table. The others are in administration - probably our old friends at COL. Overall though I've come out with a smallish profit but apart from a small number of zombie loans with FS, LY, COL I don't expect to see any further returns. P2P overall was a profitable ride on paper but maybe not if I add the amount of personal time spent on doing DD.
Makes me chuckle at some of the new P2P platforms and their promises/assurances/etc/etc. Was reading those same claims 9 years ago and the lower rates coupled with platforms putting themselves ahead of lenders when they haven't risked a damn penny of their own money is..........
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Post by df on Jan 12, 2022 22:36:12 GMT
It was very long time ago when I received last recovery repayment. I'm likely to come out with a small capital loss. I had two goes on BM. Came out of the first one with profit as projected (no loss). After a break decided to do it again and that's where my losses come from. As with most of "adventures" finishing at the right time is an advantage. I've got one more but it's overdue but not in the recovery table. The others are in administration - probably our old friends at COL. Overall though I've come out with a smallish profit but apart from a small number of zombie loans with FS, LY, COL I don't expect to see any further returns. P2P overall was a profitable ride on paper but maybe not if I add the amount of personal time spent on doing DD.
Makes me chuckle at some of the new P2P platforms and their promises/assurances/etc/etc. Was reading those same claims 9 years ago and the lower rates coupled with platforms putting themselves ahead of lenders when they haven't risked a damn penny of their own money is..........
I've got 5 in "recovery", 2 of which are COL's. Not expecting any miracles, all 5 will end up in "write-off" at some point in future probably at their current value - any partial repayments will be a pleasant surprise. I've managed to break even with FS. Ly will definitely be a loss, but not too much. Col's collapse was very sudden and I had a substantial proportion my p2p there... I've done well with a few p2p platforms, but in the event of 0% capital return from BDO all these earnings will be offset by the loss. I'm investing on some new platforms, but do it much more carefully than I did in the past.
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Post by stevefindlay on Jan 18, 2022 16:43:08 GMT
Having problems getting a reply from Bondmason regarding remaining funds and write offs anyone else had recent communication with them ? Please contact me at stephen.findlay@bondmason.com Thanks
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Post by stevefindlay on Jan 18, 2022 16:51:51 GMT
Next payments out from BondMason are likely to be in March/April. A few loans are due/anticipated in in c.March and we'll pay out once they're in - these total about half of the remaining balances (after accounting for write-downs).
As for the loans with platforms in administration...your guess is probably as good as mine unfortunately. The longer the processes go on, the lower the expected returns are - combination of admin fees and deterioration of loan books. I'm sure most P2P Forumers are familiar with the details, so will save from repeating them here.
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alibaba
Member of DD Central
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Post by alibaba on Jan 19, 2022 18:48:09 GMT
Having problems getting a reply from Bondmason regarding remaining funds and write offs anyone else had recent communication with them ? Please contact me at stephen.findlay@bondmason.com Thanks Thanks Steve, very pleased with your direct response, very sorry to see Bondmason go, I wish that some of the other P2p sites had your values and integrity.
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adrianc
Member of DD Central
Posts: 9,978
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Post by adrianc on Apr 4, 2022 10:35:36 GMT
Next payments out from BondMason are likely to be in March/April. A few loans are due/anticipated in in c.March and we'll pay out once they're in - these total about half of the remaining balances (after accounting for write-downs). Healthy payments received in mine and parental accounts, thanks. Balances now down to relatively small change, and both "live" and "watchlist" empty, so I'm guessing that's likely to be it now.
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billt
Posts: 105
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Post by billt on Apr 4, 2022 11:08:27 GMT
Nice surprise from Bondmason, Majority of my capital has now been paid back plus a reasonable amount of interest over the period invested. A real shame that Bondmason did not survive, Steven Findlay has acted in a very fair and professional way.
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Post by df on Apr 4, 2022 13:35:43 GMT
Next payments out from BondMason are likely to be in March/April. A few loans are due/anticipated in in c.March and we'll pay out once they're in - these total about half of the remaining balances (after accounting for write-downs). Healthy payments received in mine and parental accounts, thanks. Balances now down to relatively small change, and both "live" and "watchlist" empty, so I'm guessing that's likely to be it now. Nothing for me this time. If that's it, my XIRR will be -0.25%, better than I expected.
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Post by portlandbill on Apr 7, 2022 16:53:51 GMT
If only all p2p businesses were run by people with such good ethics
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a0010402
Member of DD Central
Posts: 111
Likes: 64
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Post by a0010402 on Apr 7, 2022 21:35:01 GMT
Just to be clear, is PropClear the potential 'sister' property investment project that they were hinting at on the original wind down email? And if it is - as oppossed to one such project never materializing - is it clear that that doesn't get funding from individual investors but from a selection of corporate investors / partners? So there's nothing in it for us.
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Post by stevefindlay on Apr 8, 2022 10:57:14 GMT
Just to be clear, is PropClear the potential 'sister' property investment project that they were hinting at on the original wind down email? And if it is - as oppossed to one such project never materializing - is it clear that that doesn't get funding from individual investors but from a selection of corporate investors / partners? So there's nothing in it for us. No, PropClear is entirely different. Unfortunately, having initially explored a few options, I've not set anything up since BondMason which is eligible for individual investors.
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Post by stevefindlay on Apr 8, 2022 11:00:04 GMT
We processed some more repayments earlier this week, and now processed 107% of invested balances as at May 2019. Probably not much more to come sadly...
Thank you for everyone's patience over the last 3 years during the wind down period. Longer and more painful than anticipated.
The login website will be switched off from June 2022. Please download any records you need before this date.
I will still monitor any repayments, and process these in the usual way should they come through.
Thanks,
Steve
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Post by df on Apr 8, 2022 14:15:27 GMT
We processed some more repayments earlier this week, and now processed 107% of invested balances as at May 2019. Probably not much more to come sadly... Thank you for everyone's patience over the last 3 years during the wind down period. Longer and more painful than anticipated. The login website will be switched off from June 2022. Please download any records you need before this date. I will still monitor any repayments, and process these in the usual way should they come through. Thanks, Steve I can't find any download options on the website.
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Post by stevefindlay on Apr 8, 2022 14:23:09 GMT
We processed some more repayments earlier this week, and now processed 107% of invested balances as at May 2019. Probably not much more to come sadly... Thank you for everyone's patience over the last 3 years during the wind down period. Longer and more painful than anticipated. The login website will be switched off from June 2022. Please download any records you need before this date. I will still monitor any repayments, and process these in the usual way should they come through. Thanks, Steve I can't find any download options on the website. Apologies - for the tax return a screenshot is probably best (once they're ready - in a week or so).
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Jun 8, 2022 10:55:38 GMT
Last call for web site access, closing 30th June.
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