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Post by skidrow on Feb 4, 2020 12:14:17 GMT
I made the mistake of using Plus once safeguard was stopped. Eventually sold out of Plus and am just running down my Classic. No temptation to invest in Zopa now given the risk:reward ratio.
Interesting thoughts about Zopa stressing the discretionary nature of safeguard. As has been said, it would be a PR disaster not to pay out but I suppose if things got really bad at Zopa Towers then they may have no choice.
I'll just keep on running down though unless I see alarm bells. There are several of those on other platforms.
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aju
Member of DD Central
Posts: 3,500 
Likes: 924
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Post by aju on Feb 6, 2020 9:37:21 GMT
Zopa could have a problem with their bank when it opens if the sg does not pay out. It will be a confidence issue for the bank despite them being independent from each other. Well hopefully they are independent!
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Post by stevexxx on Feb 7, 2020 15:57:31 GMT
I always think its a mistake to sell out or partially sell out as one is then left with a bigger % of bad debt. I'm in for the long term and letting mine run down naturally. yes its going to take 5 years but I recon about half will come out in the first 12 months and l I think overall i'm still going to be getting more than I would have in the bank.. If interests pick up toward the 5% mark then I might turn back on auto-invest, and the last 2 months has looked a little better but we shall see..
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Post by Deleted on Feb 7, 2020 21:10:53 GMT
I always think its a mistake to sell out or partially sell out as one is then left with a bigger % of bad debt. I'm in for the long term and letting mine run down naturally. yes its going to take 5 years but I recon about half will come out in the first 12 months and l I think overall i'm still going to be getting more than I would have in the bank.. If interests pick up toward the 5% mark then I might turn back on auto-invest, and the last 2 months has looked a little better but we shall see.. But if you believe you will experience more defaults than originally expected, maybe due to poor underwriting at origination or due to an economic downturn, you may be better cashing in as the exit fee will be less than the defaults you'll experience. I'm not saying it's best to cash in, just that there may be circumstances when it is.
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Post by stevexxx on Feb 8, 2020 12:07:06 GMT
I always think its a mistake to sell out or partially sell out as one is then left with a bigger % of bad debt. I'm in for the long term and letting mine run down naturally. yes its going to take 5 years but I recon about half will come out in the first 12 months and l I think overall i'm still going to be getting more than I would have in the bank.. If interests pick up toward the 5% mark then I might turn back on auto-invest, and the last 2 months has looked a little better but we shall see.. But if you believe you will experience more defaults than originally expected, maybe due to poor underwriting at origination or due to an economic downturn, you may be better cashing in as the exit fee will be less than the defaults you'll experience. I'm not saying it's best to cash in, just that there may be circumstances when it is. It depends on what you have invested in, FC right now is not being very open and yes I would get out but then its still ticking along but the alarm bells are ringing for me.. as I only have a very small amount in there I'm just running it down...LW I did sell out one account in December which returned every penny, the rates have dropped on my second account but is still good overall and the platform is open and solid i think so will leave the money in there,,, Zopa rates are well low, again I wouldn't sell up but let it run down and balance things elsewhere. Zopa are still highly rated, RS, still going strong for me, another highly rated platform, yes if I were in some others I might want to get out but ive picked my platforms carefully with the long term in mind.
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