My Wind-down progress after three years (FC)

I should've done the same before 18th Sept changes, but I've decided to give it a go with auto-investment for another year, which was a mistake.  What is your 'annualised return' showing on your dashboard?

I stopped investing after the introduction of 'black box' auto investment. After three years of weekly withdrawals I now have £874 lent out & an annualised return of 6%. I'm now withdrawing at a rate of about £25 per week & expect it will take at least another year to get the remainder of my investment out....subject to losses! I may see small recovery payments for the next three years!

Similar story here. I stopped investing in Sept/2017 and started to run off. At that stage I had about 1650 loans.


By 2018 I had taken out all of my original investment (made since 2011) and was then simply taking out reinvested profits.


As of today, I have 289 loans of which 99 are late. I have extracted 73% of my lifetime profits which if I now lose everything still left in gives an annual return of about 6%.


I have 391 bad debt loans in addition to the 289 as above. Recovery on the bad debts stands at 35.7% as of today.


No complaints at all about my returns from nine years with FC but FC as a business is, I am afraid, toast which at some point the investors still in at 68p will realise.

Given that with Funding Circle there is no other option, that is probably a good choice

I started with FC in 2012 and had a particularly good run with property, up to the point of the black box, when most funds came out through the SM. We started a 'balanced' Isa in 2018 to test the black box for a year, after which it nearly all came out before the SM failed and was closed. So with really no investment left other than the defaults, and after a year of a dribble of recoveries, the ISA performance stands at 2.8%, while the two old accounts stand at over 10%. I don't expect to get much more back.

Overall, though, we made over £50k before tax through FC over the years, which paid for some nice holidays. Also I learned much. Looking at the whole experience, rather than the poor ending, I say So long and thanks for all the fish.

Both, though genius is a bit strong. You could always do better than autobidders by selling after a few months, but the property came with cashback and guaranteed interest payments almost to the end of the loan. After the equalising black box, the IPO and the exit of venture capital etc drove the performance down and wrecked the liquidity.

If you want true p2p, including a direct relationship with the fortunes of the borrower and a good SM to enter or exit at a market price, then try Ablrate - though only if you will risk sufficient cash to justify the risk assessment, which is a requirement of true p2p.