aju
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Post by aju on Mar 17, 2020 1:02:58 GMT
Okay so I was going to leave it till the end of the fin/tax year to make a final decision whether Zopa was still a good investment for us. Things had been going slowly downhill since we sold some loans out early last year.
Todays, general downturn and the recent change in the Covid-19 position finally turned us against staying in Zopa at a middle 5 figure value. To be honest Mrs Aju got a little bit shakey too - I thinks shes been looking into P2P a bit more closely.
So We did it we have bailed out of both core and plus loans as of today and as the sum is quite large it will probably take all 30 days. I'm not sure where we will move it but it will be safer.
If the Covid-19 experts are right we could be in for a long haul economically and its difficult to see where this whole thing is going. Personally I'm a bit sad having been in Zopa almost from the start. We are completely bailing as we still have Invest PF covered loans but only just in 4 figures - of course we also have all the defaults that can still return something in debt sales perhaps.
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scc
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Post by scc on Mar 17, 2020 8:00:50 GMT
Good luck!
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benaj
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Post by benaj on Mar 17, 2020 14:21:53 GMT
I thought you are leaving the country / planet because of this viral thing going on, aju. At least you are staying with us in the forum. All the best.
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aju
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Post by aju on Mar 17, 2020 14:34:26 GMT
I thought you are leaving the country / planet because of this viral thing going on, aju . At least you are staying with us in the forum. All the best. If I thought there was a safe location to go to that had even half decent information dispersal that makes sense then i'd definitely consider it. Sadly that may be asking too much and we just have to struggle along with the confusion of everyone as to what we are supposed to be doing!. (It's times like this that I realise how fortunate I am not to be in business or worse on the breadline. Also I'm not wholly convinced either the blue or the red team are not hedging their bets in how much they might have to stump up over the next few months/years. Big up for Mr Macrons 300B Euros punt though) What I find interesting is if I get the CV on day 1/14 and Mrs Aju gets it on day 14 it might work, we only have a house of 2 at the moment. But what happens in a house of 4 surely the worst case means they have to be isolating for a minimum of 4 weeks not 2. The BBC politics today threw us into even more confusion despite their attempts to clear the muddy waters just thinking about it makes me come out in hives (not really but I do feel a whole lot better when I stop watching this stuff on the telly. I guess I need to spend more time working my spreadsheets and less time watching telly) ... BTW i'd like to say right now that we only have 31 toilets rolls in our house so based on Tobias Elwoods comments today, on Politics Today, that it was unpatriotic to have more than 50 toilet rolls in ones house.
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cb25
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Post by cb25 on Mar 17, 2020 15:55:11 GMT
I thought you are leaving the country / planet because of this viral thing going on, aju . At least you are staying with us in the forum. All the best. If I thought there was a safe location to go to that had even half decent information dispersal that makes sense then i'd definitely consider it. Sadly that may be asking too much and we just have to struggle along with the confusion of everyone as to what we are supposed to be doing!. (It's times like this that I realise how fortunate I am not to be in business or worse on the breadline. Also I'm not wholly convinced either the blue or the red team are not hedging their bets in how much they might have to stump up over the next few months/years. Big up for Mr Macrons 300B Euros punt though) What are the 300Bn Euros being spent on and who is paying?
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aju
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Post by aju on Mar 17, 2020 17:58:52 GMT
If I thought there was a safe location to go to that had even half decent information dispersal that makes sense then i'd definitely consider it. Sadly that may be asking too much and we just have to struggle along with the confusion of everyone as to what we are supposed to be doing!. (It's times like this that I realise how fortunate I am not to be in business or worse on the breadline. Also I'm not wholly convinced either the blue or the red team are not hedging their bets in how much they might have to stump up over the next few months/years. Big up for Mr Macrons 300B Euros punt though) What are the 300Bn Euros being spent on and who is paying? Probably similar to the Uk £330Bn package just announced in the Uk. We will all be paying just like we did in the Banks crisis, I'm sure.
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cb25
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Post by cb25 on Mar 17, 2020 18:05:40 GMT
What are the 300Bn Euros being spent on and who is paying? Probably similar to the Uk £330Bn package just announced in the Uk. We will all be paying just like we did in the Banks crisis, I'm sure. Having watched today's press conference with the PM and Chancellor, I noted there was absolutely no mention on how much this is going to cost all of us saving a lot of worthwhile firms but no doubt a bunch of 'zombie' ones as well (already being kept alive by ultra-low interest rates). What with state spending as a percentage of GDP already due to be at a decades high level, I can't see many confusing the Tories with economic right-wingers.
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KoR_Wraith
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Post by KoR_Wraith on Mar 17, 2020 18:19:45 GMT
Having watched today's press conference with the PM and Chancellor, I noted there was absolutely no mention on how much this is going to cost all of us saving a lot of worthwhile firms but no doubt a bunch of 'zombie' ones as well (already being kept alive by ultra-low interest rates). What with state spending as a percentage of GDP already due to be at a decades high level, I can't see many confusing the Tories with economic right-wingers. Not to worry, they'll sneakily cut spending on education/healthcare/local government/welfare, increase VAT to 22.5% and do everything they can to avoid harming the top 1% - you know, the part of society that both the last 10 years of economic policy has most benefited and can most afford to pay for this pandemic. Who knows, we might even see a return of the currently shelved corporation tax cuts.
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Post by newlender on Mar 17, 2020 21:06:00 GMT
Please report back on the % of your requested sum you've received after 30 days. I recently requested some cash by selling loans but didn't get the full amount I asked for. Am now drawing down from repayments. Nothing to do with the pandemic, just a general feeling that there are too many defaults nowadays.
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aju
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Post by aju on Mar 18, 2020 0:39:32 GMT
Please report back on the % of your requested sum you've received after 30 days. I recently requested some cash by selling loans but didn't get the full amount I asked for. Am now drawing down from repayments. Nothing to do with the pandemic, just a general feeling that there are too many defaults nowadays. You are dead right about the defaults. It was the economic outlook for people losing their jobs along with the belief that they are still stalling from helping renters, self employed, job losses etc etc. I'm not expecting to be the only one pulling the plug on Zopa so I'm guessing it will be the full 30 days before I get the complete load if at all. I did not get the full amount anyway, but then we have 4 figure defaults in both our accounts we are selling off. We will get some returns on the defaults left behind even after we have sold out as there will be debt sell offs and repayments from some borrowers etc.
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Post by stevexxx on Mar 18, 2020 10:50:27 GMT
I'm slowly running zopa down as the long term rates are not good, cash at the moment is a good bet, stock investments have been wiped but I'm still putting money in while its down and I'm sure its only temporary but I still believe p2p will outride this and still give returns. Zopa seems to be performing slightly better the last two months for me but I agree its not the best for rates but its a stable earner.... Good luck to you and I hope you find an alternative, I think AC and LW are good despite everything..
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Mar 18, 2020 12:53:44 GMT
I'm slowly running zopa down as the long term rates are not good, cash at the moment is a good bet, stock investments have been wiped but I'm still putting money in while its down and I'm sure its only temporary but I still believe p2p will outride this and still give returns. Zopa seems to be performing slightly better the last two months for me but I agree its not the best for rates but its a stable earner.... Good luck to you and I hope you find an alternative, I think AC and LW are good despite everything.. How are Borrowers going to repay their loans? Given also that there's already a proportion who are distrusful & dishonest manipulators. I take an opposite view, the merde storm in P2P has only just begun. To guote Karen Carpenter Sort of.
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agent69
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Post by agent69 on Mar 18, 2020 12:59:07 GMT
I'm slowly running zopa down as the long term rates are not good, cash at the moment is a good bet, stock investments have been wiped but I'm still putting money in while its down and I'm sure its only temporary but I still believe p2p will outride this and still give returns. Zopa seems to be performing slightly better the last two months for me but I agree its not the best for rates but its a stable earner.... Good luck to you and I hope you find an alternative, I think AC and LW are good despite everything.. How are Borrowers going to repay their loans? Given also that there's already a proportion who are distrusful & dishonest manipulators. I take an opposite view, the merde storm in P2P has only just begun. To guote Karen CarpenterSort of. Now there was somebody who knew how to sing a song.
Guess it's not just rainy days and Monday's that are getting people down.
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ashtondav
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Post by ashtondav on Mar 18, 2020 14:00:31 GMT
Very quiet here. In fact...
...theres a kind of hush
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aju
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Post by aju on Mar 18, 2020 15:06:46 GMT
Very quiet here. In fact...
...theres a kind of hush
I think it's probably "...all over the world" too
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