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Post by Badly Drawn Stickman on Oct 23, 2019 21:05:41 GMT
I fall between options 1 and 2, no capital left on the platform and a small sum locked in as profit. Just a little over £200 still on the platform but all 'earned' money so fairly painless (mostly in cash anyway)
I do however have more than enough on lendy and Collateral to feel the pain of those heavily exposed. Probably does signal the beginning of the end for my relationship with P2P though, I was already winding down, but will probably stop any further reinvestment now (says the man who has just purchased a fair bit on the Moneything SM).
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sd2
Member of DD Central
Posts: 621
Likes: 224
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Post by sd2 on Oct 23, 2019 21:47:02 GMT
Nowt in any of them. Not certain I wouldn't have put money in them but I never got round to even looking at them. My luck appears to be holding up at the moment and long may it continue!!
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Post by aeron on Oct 23, 2019 21:48:40 GMT
Col = 0
Lendy = 35k
FS = 10k
Started investing at the beginning of 2018. So I am now looking at at claiming retrospective tax relief on the P2P income in tax year 2017/18. I have already notified HMRC about Lendy and have had my tax code for 2019/20 reduced significantly because I said any income I make in this tax year from any P2P investment will be more than off-set by Lendy loses. Looks like I will be doing the same against FS.
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michaelc
Member of DD Central
Say No To T.D.S.
Posts: 5,722 
Likes: 2,987
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Post by michaelc on Oct 23, 2019 21:51:55 GMT
10K
Was up to around 40K about 15 months ago when I decided to pull out. Lendy I've a bit less and COL about half that.
Definitely enough to seriously pee me off but not catastrophic. I really feel for those who have committed more.
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Post by carol167 on Oct 24, 2019 7:49:23 GMT
Having downloaded my transaction history and summing amount paid in verses total taken out to date, I've made a profit of about £500. Which is less than 2% over 4 years from an investment that peaked at 25k.
Got £2,500 still stuck in bad loans which I'd mentally written off a while ago and don't even go there with the potential £900 odd interest still owing.
:-(
Sill... at least I didn't make an overall loss. Glad I stopped investing about 18 months ago.
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mikeh
Member of DD Central
Posts: 499
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Post by mikeh on Oct 24, 2019 8:03:58 GMT
£0. Never liked the smell of it so never put a penny on it. Ditto.
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p2p2p
Member of DD Central
Posts: 123
Likes: 114
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Post by p2p2p on Oct 24, 2019 11:01:25 GMT
2% of my net worth, 70% of my p2p investment. I soured of p2p 12 months ago, but only manage to get half my money out in that time.
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Post by geoffp on Oct 24, 2019 14:52:21 GMT
I have about £7K in cash on the platform. What do you think of my chances of getting that back?
Your opinions welcomed!
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Greenwood2
Member of DD Central
Posts: 4,388
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Post by Greenwood2 on Oct 24, 2019 14:57:28 GMT
I have about £7K in cash on the platform. What do you think of my chances of getting that back? Your opinions welcomed! I thought cash should be ring fenced and FSCS protected by the bank hosting the client account, so should be 100%. We will see...
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arby
Member of DD Central
Posts: 910
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Post by arby on Oct 24, 2019 15:11:10 GMT
I have about £7K in cash on the platform. What do you think of my chances of getting that back? Your opinions welcomed! Just checking you really do mean uninvested cash? If so, then as suggested above it should be ring fenced in a client account, but I'm not sure about the fscs part. That part should look very good for full recovery.
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Post by geoffp on Oct 24, 2019 15:51:28 GMT
Thank you both Greenwood and arby!
Yes - I mean uninvested cash. I was waiting for matters to stabilize before making further investments...
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Post by Harland Kearney on Oct 24, 2019 16:03:19 GMT
£700 in defaulted loans, been that way for years. Will have to do the AML checks now most likely  |
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Post by df on Oct 24, 2019 16:53:29 GMT
FS - x 0.1% of P2P Lendy - 0.15% of P2P. Collateral - 1.5% of P2P. But I'd be screwed if Assetz, Proplend, HNWL or ABL went down - 10-20% of P2P in each, and 65% in the four combined. Would ideally get them down to max 10% each as platform risk proving to be a larger component of risk than I had previously estimated. But then that would mean increasing exposure elsewhere, begging the question where (all others 5% max currently)? So it might be more of a "reduce overall P2P exposure as part of investment portfolio" rather than "reduce individual platform exposure as proportion of P2P". My largest exposure is in AC (18%) and GS (17%). Although I don't see these two as a concern yet, I was having thoughts of reducing each to 10%. Similar dilemma - where will the money go? Out of platforms I'm actively investing, my lowest exposures are to HC and Rebs, but I don't really want to test my luck with putting too much in very risky loans. I don't want to engage with other types of investments so the only option for me would be to increase my funds in banks. Low interest rates, but still higher than what I expect to get from BM and FC when the losses are crystallised, and significantly higher than I expect from Col, Lendy and FS 
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Post by df on Oct 24, 2019 17:17:35 GMT
I fall between options 1 and 2, no capital left on the platform and a small sum locked in as profit. Just a little over £200 still on the platform but all 'earned' money so fairly painless (mostly in cash anyway) I do however have more than enough on lendy and Collateral to feel the pain of those heavily exposed. Probably does signal the beginning of the end for my relationship with P2P though, I was already winding down, but will probably stop any further reinvestment now (says the man who has just purchased a fair bit on the Moneything SM). Is it CSP? It crossed my mind, plenty of 1% discount motivated by yesterday's news, but I already have my largest (out of performing loans) p2p exposure to a single borrower in CSP. I was recently reinvesting all my tiny returns at par and now thinking I shouldn't push my luck any further.
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Post by df on Oct 24, 2019 17:38:48 GMT
Thank you both Greenwood and arby! Yes - I mean uninvested cash. I was waiting for matters to stabilize before making further investments... It might take a while. Lendy went into administration exactly 5 months ago and only now we are approaching the stage when uninvested cash is expected to be withdrawable.
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