Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
|
Post by Godanubis on Dec 21, 2019 11:23:43 GMT
From the most recent repayments the effect of fees as been a very low reduction in effective return overall.
Exact calculations can be complicated by the fact some of the loans would have been bought at a capital discount but with accrued interest purchased and fees taken from the interest.
If I was returned similar amounts for all the loans my bunny 🐰 would be very happy.
We now need a quick verification of accounts under anti money laundering rules and ability to withdraw or transfer cash sums introduced ASAP.
|
|
invester
P2P Blogger
Posts: 612
Likes: 618
|
Post by invester on Dec 21, 2019 11:39:46 GMT
Too early to say really.... think some of the easier cases have been done first. As a percentage of capital returned I suspect this (for me) will end up worse than Lendy, Collateral or Moneything, but perhaps that is because of the loans I chose.
|
|
sjg
Member of DD Central
Posts: 65
Likes: 61
|
Post by sjg on Dec 21, 2019 15:14:12 GMT
Well I'll only be happy when I can get the money out. Percentage wise I'll worry about it then.
|
|
jj
Member of DD Central
Jolly Jammy
Posts: 320
Likes: 357
|
Post by jj on Dec 21, 2019 15:29:47 GMT
Ah. Don't worry, the early/easy returns are always going to be alright. Just wait a year or two then you'll see the tears pouring.
|
|
Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
|
Post by Godanubis on Dec 21, 2019 19:27:45 GMT
Some claim we will all lose >50% but if you had your investments only in the last few you would not have lost a penny. As previously pointed out losses are based on personal loan choices and will vary greatly by loan therefore only time will tell the overall outcome.
|
|
adrian77
Member of DD Central
Posts: 3,894
Likes: 4,122
|
Post by adrian77 on Dec 22, 2019 13:49:12 GMT
Like most of us I don't doubt I am looking at a <50% loss on my zombie loan book. Very true the last few have come good but these were the minority that were basically sound and just needed a nudge to pay-up. This is in sharp contrast to numerous others which ,for whatever reason, don't have a bat's chance in hell of being anything other than a complete disaster - speedboat(s), art loan, Formby, Lytham St Annes etc etc
What is the FS spin going to be - we won the business argument but lost the client's money!
|
|
ashtondav
Member of DD Central
Posts: 1,804
Likes: 1,086
|
Post by ashtondav on Dec 22, 2019 16:21:50 GMT
Like most of us I don't doubt I am looking at a <50% loss on my zombie loan book. Very true the last few have come good but these were the minority that were basically sound and just needed a nudge to pay-up. This is in sharp contrast to numerous others which ,for whatever reason, don't have a bat's chance in hell of being anything other than a complete disaster - speedboat(s), art loan, Formby, Lytham St Annes etc etc What is the FS spin going to be - we won the business argument but lost the client's money! Typo? I think >50% is probably about right. Luckily FS was 0.05% of my total portfolio.
|
|
iRobot
Member of DD Central
Posts: 1,651
Likes: 2,438
|
Post by iRobot on Dec 22, 2019 17:28:53 GMT
Like most of us I don't doubt I am looking at a <50% loss on my zombie loan book. Very true the last few have come good but these were the minority that were basically sound and just needed a nudge to pay-up. This is in sharp contrast to numerous others which ,for whatever reason, don't have a bat's chance in hell of being anything other than a complete disaster - speedboat(s), art loan, Formby, Lytham St Annes etc etc What is the FS spin going to be - we won the business argument but lost the client's money! Typo? I think >50% is probably about right. Luckily FS was 0.05% of my total portfolio. 'Luckily'?? What happened? Did you forget to transfer over £10k into FS30 on the 22nd of October? Seriously though, and with respect, you shouldn't downplay the importance of diversification.
|
|
adrian77
Member of DD Central
Posts: 3,894
Likes: 4,122
|
Post by adrian77 on Dec 23, 2019 12:08:41 GMT
yes - sorry - can't get the staff my typing error - what really worries me is how much we are going to end-up paying the administrators/administrators - e.g. art loans, Lytham St Annes could cost an absolute fortune in legal fees and we still get nothing back on these loans but these fees still come out of the total loan book recovery
Also I am still confused about the dissacord on the CC - could we possible have more details which includes the exact state of each member e.,g. underwriter or not, hit hitter and if so in which loans and any other salient interest.
|
|
pip
Posts: 542
Likes: 725
|
Post by pip on Dec 23, 2019 15:38:04 GMT
yes - sorry - can't get the staff my typing error - what really worries me is how much we are going to end-up paying the administrators/administrators - e.g. art loans, Lytham St Annes could cost an absolute fortune in legal fees and we still get nothing back on these loans but these fees still come out of the total loan book recovery Also I am still confused about the dissacord on the CC - could we possible have more details which includes the exact state of each member e.,g. underwriter or not, hit hitter and if so in which loans and any other salient interest. Agree totally, until we can actually withdraw money totally unclear what investors will get vs. will be eaten by administrators. I still stand by my original thoughts that lenders would be best served by the entire book being sold off immediately and the proceeds distributed. Almost certain that this would have returned more to investors than this drawn out process where I suspect there will be disappointment at every turn.
|
|
foolsgold
Member of DD Central
Posts: 159
Likes: 194
|
Post by foolsgold on Dec 23, 2019 20:12:51 GMT
If the entire loan book was sold off then Investors in rubbish loans that have little chance of much return would be treated the same as the investor who researched and hand picked better quality loans...hardly seems fair
|
|
song
Member of DD Central
Posts: 83
Likes: 115
|
Post by song on Dec 23, 2019 20:45:27 GMT
If the entire loan book was sold off then Investors in rubbish loans that have little chance of much return would be treated the same as the investor who researched and hand picked better quality loans...hardly seems fair I would imagine that rare breed would be having a good laugh and holding nothing.
|
|
foolsgold
Member of DD Central
Posts: 159
Likes: 194
|
Post by foolsgold on Dec 23, 2019 21:38:36 GMT
I know a few loans have paid off (low hanging fruit) but what about the older loans....Art loans...The D***...Lytham and many others where weve been screwed...think it would give the administrators more incentive to take a small recovery fee...either that or they might think why bother...and might push them on at pursuing valuers as well
|
|
|
Post by mitosan on Dec 23, 2019 23:25:01 GMT
I still stand by my original thoughts that lenders would be best served by the entire book being sold off immediately and the proceeds distributed. Almost certain that this would have returned more to investors than this drawn out process where I suspect there will be disappointment at every turn. To be honest with you I don't think this is the majority opinion, there will definitely be some who just want it over and done with though and are willing to take a big hit to that end.
|
|
Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
|
Post by Godanubis on Dec 24, 2019 0:11:35 GMT
The majority can only be represented by £1 invested one vote.
Not by those that say "I have £50 and I vote to get a tenner back and your £1 million plus gets one vote like mine"
|
|