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Post by overthehill on Jun 2, 2020 16:15:42 GMT
Couldn't find any reference to this loan in the forum, interesting. I was optimistic with this one, I assume the borrower had genuine issues repaying, why else would he wait so long when you see what FS was charging on top of the investor rate? Good luck to him.
Loan pays back with 100% capital + 10.7% pa interest (instead of 13%), full breakdown in loan updates. You can clearly see the FS charges which for a change doesn't come out of our money.
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micky
Member of DD Central
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Post by micky on Jun 3, 2020 11:05:30 GMT
I'm not in this one. Was the 2.5 and 5% Fee taken?
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Post by overthehill on Jun 3, 2020 12:27:50 GMT
yes, all loans with the caveat of where FS get their cut from.
CG&Co take 2.5%+VAT of the money recovered for distribution which is the loan capital + loan interest + FS fees, this resulted in 2.3%pa haircut in investor interest (better than normal because the net recovery was more than investor capital+interest due). Somehow FS come out of it with 12.29% fees. Investors take an interest haircut while FS get a bumper payday.
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