jj
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Jolly Jammy
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Post by jj on Jul 26, 2019 8:35:46 GMT
It seem to me the only difference between COL & FS is you can still put money into FS.
I mean where are the interest payment FS ?
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SteveT
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Post by SteveT on Jul 26, 2019 8:49:43 GMT
My FS Dashboard now values the accrued interest on my portfolio of FS zombie loans at over £12,000. I reckon applying to FS to borrow against this valuation at 70% LTV (raising £8400) may be my best bet, repayment to come from the oft-promised refinance of these loans  |
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arby
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Post by arby on Jul 26, 2019 9:07:10 GMT
My FS Dashboard now values the accrued interest on my portfolio of FS zombie loans at over £12,000. I reckon applying to FS to borrow against this valuation at 70% LTV (raising £8400) may be my best bet, repayment to come from the oft-promised refinance of these loans You jest (maybe), but a version of that is something that has been suggested a few times; simply allowing defaulted loans on the SM with any price reduction we wish would go a long way to allowing people to clear the backlog, while allowing others with a greater risk appetite the potential for even higher returns.
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bugs4me
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Post by bugs4me on Jul 26, 2019 9:17:40 GMT
I don't think many of us have had 12% profit over 5 years especially considering the high level of defaults. I thought you quoted much higher returns? Mind you a lot of us have withdrawn 75% as you have which was a good move although not sure why you did it earning these stellar returns - interesting... I was making 12% in the early days when I was counting accrued interest into the IRR calculations. Then a motorbike loan went south although FS clearly got the valuation wrong and made up the capital shortfall but not the accrued. At least though they did the honourable thing.
Stopped counting the accrued, which whilst it's with FS on the dashboard is dead money anyway, can't do anything with it until or if the loan repays and decided time to live in the real world. IRR then settled in the 10% range. At least though in those days FS were not in the professional can kicking business and radio silence mode. There are several outstanding/defaulted/overdue/unredeemed/etc loans where the borrower has given up/run away/in hiding/etc but still FS show accrued interest on the dashboard. You'll be fortunate to get the original loan repaid let alone any interest. So the point is do FS really believe that lenders are in the P2P business for the fun of it - hence the continuous feeding of BS to the masses. Do they really believe lenders are that stupid.
At some stage, either though choice or unfortunately the demise of a lender you must draw a line under your investing. It's only at that stage do you get an accurate IRR figure and IMO it's certainly not going to be anywhere near 12%.
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r1200gs
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Post by r1200gs on Jul 26, 2019 9:56:26 GMT
I don't think many of us have had 12% profit over 5 years especially considering the high level of defaults. I thought you quoted much higher returns? Mind you a lot of us have withdrawn 75% as you have which was a good move although not sure why you did it earning these stellar returns - interesting... I was making 12% in the early days when I was counting accrued interest into the IRR calculations. Then a motorbike loan went south although FS clearly got the valuation wrong and made up the capital shortfall but not the accrued. At least though they did the honourable thing.
Stopped counting the accrued, which whilst it's with FS on the dashboard is dead money anyway, can't do anything with it until or if the loan repays and decided time to live in the real world. IRR then settled in the 10% range. At least though in those days FS were not in the professional can kicking business and radio silence mode. There are several outstanding/defaulted/overdue/unredeemed/etc loans where the borrower has given up/run away/in hiding/etc but still FS show accrued interest on the dashboard. You'll be fortunate to get the original loan repaid let alone any interest. So the point is do FS really believe that lenders are in the P2P business for the fun of it - hence the continuous feeding of BS to the masses. Do they really believe lenders are that stupid.
At some stage, either though choice or unfortunately the demise of a lender you must draw a line under your investing. It's only at that stage do you get an accurate IRR figure and IMO it's certainly not going to be anywhere near 12%.
Exactly. I now have three 100 percent write off loans, two of which are still sitting on my summary page taking the complete and utter pizz by showing lovely interest accruing every single day when there is ZERO chance of ever seeing the capital back. As an investor, FS are already dead as far as I'm concerned. Just to add to the pizz taking I just realised my official complaint bout the great Whitehaven farce appears to have been ignored.
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