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Post by Badly Drawn Stickman on Oct 24, 2019 18:59:45 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. A few different loans, but mostly the ticking one. I suspect it will run on past the first exit date, but the A tranche looks as safe as anything else at the moment and looked a decent buy at last nights levels. Then I have been known to be wrong and it could be ticking for the wrong reason.
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Post by df on Oct 24, 2019 19:36:37 GMT
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. A few different loans, but mostly the ticking one. I suspect it will run on past the first exit date, but the A tranche looks as safe as anything else at the moment and looked a decent buy at last nights levels. Then I have been known to be wrong and it could be ticking for the wrong reason. I've invested a small amount in tranche A when it was launched, I thought it had a good chance for successful outcome. I think I'll stick with this one to the end (whatever it might be), but not going to add any more (even at 3% discount).
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Post by geoffp on Oct 25, 2019 8:36:45 GMT
I see that FS are still updating loans:
For example loan no. 6395810849
, D*bbin Road, Co Arm*gh
was updated 23 minutes ago, as I write.
Just thought you might be interested...
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arby
Member of DD Central
Posts: 910
Likes: 959
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Post by arby on Oct 25, 2019 8:45:10 GMT
I see that FS are still updating loans: For example loan no. 6395810849 , D*bbin Road, Co Arm*gh was updated 23 minutes ago, as I write. Just thought you might be interested... Update wasn't too promising, but it's positive to see any movement at all given the week we're having...
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adrian77
Member of DD Central
Posts: 3,920 
Likes: 4,145
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Post by adrian77 on Oct 25, 2019 10:25:30 GMT
I presume it is the administrators who are actually doing this I guess they will simply be doing a fire sale of the assets we lent against - as to what assets FS actually have I guess cock-all!
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trium
Member of DD Central
Posts: 384
Likes: 304
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Post by trium on Oct 25, 2019 13:17:35 GMT
Re: How much have you got exposed on FundingSecure? I've been running down since June and I put all my remaining loans on the SM 3 weeks ago (though of course the bulk of my book consisted of zombies/lates etc). A few failed to sell but my balance is now under 50% of what it was in June and is only 2% of P2P so not too bad for me. I'm not going to be panicked out of P2P but I do need to reduce exposure. I have 60% of savings/investments in P2P and a ridiculous 75% of that in AC (can't be bothered endlessly juggling ISAs around). I have been addressing that but these events will probably influence me to move more quickly and I am even contemplating a cash ISA for the first time in about 6 years (the miserable returns on which are for me, and I suspect for many others, the main reason for dabbling in high-risk investments in the first place. I did sell up at WLU/FO last night - the combination of FS woes and yet another major payday lender hounded out of business by the hyenas who operate compensation claim companies (albeit this one has not gone bust) but apart from that I'm not running around flapping. |
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