blender
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Post by blender on Sept 20, 2019 10:05:16 GMT
I started a new ISA on 3 May 2018, and have now sold practically all. Looking at those which were chosen for me on the PM that fateful day, I find a close group of 13, of which I still have six as bad debt and one as serially late - since April. This is over 50% duds on that day. This is not just underperforming, it looks like a failure to apply DD. I find no common factor in the failures in geography, or business type. No wonder they do not want to have these sold. No wonder we are not allowed to see the loan book. My range of loan numbers is 55839 to 55901. I am wondering about the gaps - were these partial loans and how have they fared? Can anyone fill in gaps or extend the range?
Loan No. Drawn Down Status
55839 3 May 2018 Bad Debt
55853 3 May 2018 Repaid
55855 3 May 2018 Bad Debt
55859 3 May 2018 Bad Debt
55868 3 May 2018 Bad Debt
55869 3 May 2018 Late rolling 2 payments
55870 3 May 2018 Repaid
55877 3 May 2018 Repaid
55879 3 May 2018 Repaid
55882 3 May 2018 Bad Debt
55887 3 May 2018 Repaid
55898 3 May 2018 Bad Debt
55901 3 May 2018 Repaid
(Repaid means repaid to me, mostly sold)
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Post by rweb on Sept 20, 2019 10:24:15 GMT
I'm not sure how you see the Drawn Down date? Here though are my loans in that range:
Loan Band Status
55840 A Live
55842 A Repaid
55843 A Live
55844 A Live
55846 A Live
55847 A Live
55848 A Live
55849 A+ Live
55851 A+ Repaid
55852 A Live
55854 A Live
55856 A Live
55857 A Repaid
55858 A+ Live
55860 A Live
55861 A+ Live
55862 A Live
55864 A+ Live
55866 A Live
55869 A+ Repaid
55876 A Live
55878 A Live
55880 A Live
55883 A Live
55886 A Live
55887 A Repaid
55891 A Live
55897 A+ Live
55899 Bad Debt
Comparing our lists, it seems that you've had some bad luck there, though it would be interesting to know the risk bands. I moved between the two risk band options at the time, but clearly went for the "safer" option for this cohort!
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cobi
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Post by cobi on Sept 20, 2019 10:25:33 GMT
I've only got duplicates
55869
55870
55879
I didn't manage to sell 55870 quickly enough and this is now late
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Post by Deleted on Sept 20, 2019 11:43:05 GMT
I have an issue with the E band risk loans which had already had payment issues before they were sold to me. I recently wrote a complaint to them about one particular E band loan where the dd had been cancelled and the payments randomly paid for months and 3 months late on the trot. The account was upto date for about a day before being sold to me and becoming late again a couple of days later and being defaulted 3 months later. Before I gor a response the company paid up in full.
My point is that if i pay my credit card late my credit history is updated. If I was able to get an E band loan before I kept paying my credit card late I would not be able to get one afterwards. So it surely was less than an E band loan when sold to me. It follows that an A risk band is only an a risk band when initially sold and may not be when resold. The model is flawed and even if you switch to the Conservative investments it means nothing in the resale market.
I have another similar loan and will change the names and dates and send in the complaint again.
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benaj
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Post by benaj on Sept 20, 2019 12:01:26 GMT
blender , I have some earlier ones. 20 loans in total, 7 loans in default. LoanID Band Status 50272 D Bad Debt 50294 D Bad Debt 50315 E Bad Debt 50420 C Bad Debt 50427 C Bad Debt 50487 - Bad Debt 50528 - Bad Debt 50271 B Late 50255 A Live 50414 B Repaid 50419 A+ Repaid 50437 B Repaid 50463 B Repaid 50486 A+ Repaid 50561 A Repaid 50615 A Repaid 50546 A Repaid 50796 A Repaid 50793 B Repaid 50810 A+ Repaid
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benaj
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N/A
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Post by benaj on Sept 20, 2019 12:09:27 GMT
I'm not sure how you see the Drawn Down date? Here though are my loans in that range: Loan Band Status
55840 A Live
55842 A Repaid
55843 A Live
55844 A Live
55846 A Live
55847 A Live
55848 A Live
55849 A+ Live
55851 A+ Repaid
55852 A Live
55854 A Live
55856 A Live
55857 A Repaid
55858 A+ Live
55860 A Live
55861 A+ Live
55862 A Live
55864 A+ Live
55866 A Live
55869 A+ Repaid
55876 A Live
55878 A Live
55880 A Live
55883 A Live
55886 A Live
55887 A Repaid
55891 A Live
55897 A+ Live
55899 Bad Debt Comparing our lists, it seems that you've had some bad luck there, though it would be interesting to know the risk bands. I moved between the two risk band options at the time, but clearly went for the "safer" option for this cohort!
Now I see how FC conservative performs. Thanks. What's the current return on your FC conservative?
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blender
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Post by blender on Sept 20, 2019 12:37:56 GMT
I'm not sure how you see the Drawn Down date? Here though are my loans in that range:
Loan Band Status
55840 A Live
55842 A Repaid
55843 A Live
55844 A Live
55846 A Live
55847 A Live
55848 A Live
55849 A+ Live
55851 A+ Repaid
55852 A Live
55854 A Live
55856 A Live
55857 A Repaid
55858 A+ Live
55860 A Live
55861 A+ Live
55862 A Live
55864 A+ Live
55866 A Live
55869 A+ Repaid
55876 A Live
55878 A Live
55880 A Live
55883 A Live
55886 A Live
55887 A Repaid
55891 A Live
55897 A+ Live
55899 Bad Debt
Comparing our lists, it seems that you've had some bad luck there, though it would be interesting to know the risk bands. I moved between the two risk band options at the time, but clearly went for the "safer" option for this cohort!
Thanks all and rweb. The answer seems to lie in the Band, in that mine was balanced while rweb's was conservative. Adding the band (from interest rate) to mine and correcting my swap between 69 and 70 gives: Loan No Drawn Down Band Status
55839 3 May 2018 E Bad Debt
55853 3 May 2018 C Repaid
55855 3 May 2018 C Bad Debt
55859 3 May 2018 D Bad Debt
55868 3 May 2018 C Bad Debt
55869 3 May 2018 A+ Repaid
55870 3 May 2018 B Late 2 payments
55877 3 May 2018 B Repaid
55879 3 May 2018 B Repaid
55882 3 May 2018 D Bad Debt
55887 3 May 2018 A Repaid
55898 3 May 2018 C Bad Debt
55901 3 May 2018 B Repaid
The good ones are A+ A and B, so far into their loans, but beware if you have C, D or E. Well over half of them fail within a year, it seems. Looks like they moved the DD goal posts on these to build the loan book, and tried to manage the mix with safe loans. The return on this account currently, according to FC, is 3.1% - about half what was predicted.
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Post by rweb on Sept 20, 2019 17:48:49 GMT
Comparing our lists, it seems that you've had some bad luck there, though it would be interesting to know the risk bands. I moved between the two risk band options at the time, but clearly went for the "safer" option for this cohort!
Now I see how FC conservative performs. Thanks. What's the current return on your FC conservative? Currently 4.4%, which is not fantastic but still markedly better than bank interest.
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ashtondav
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Post by ashtondav on Sept 21, 2019 9:26:21 GMT
4.4% is pretty damned impressive in a near zero interest rate world!
Of course compared to predicted returns at time of investment, not damned impressive!
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keitha
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Post by keitha on Sept 22, 2019 12:28:55 GMT
55837 just below your range Late but also on same date
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coogaruk
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Post by coogaruk on Sept 29, 2019 10:39:02 GMT
4.4% is pretty damned impressive in a near zero interest rate world! Of course compared to predicted returns at time of investment, not damned impressive! And not at all impressive if wiped out by defaults.
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