michaelc
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Post by michaelc on Nov 12, 2020 17:35:32 GMT
Its a few months old now but still pretty good I think. www.4thway.co.uk/candid-opinion/the-bridgecrowd-review/If BC really are running a great operation and I really do hope they as I still have investments there, why the heck can't they spend a bit of money publishing the figures? If they'd do that and on regular occasions I would definitely be keen to start ramping up my investments again. Its really frustrating but I'm not going to take the risk as it stands.
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criston
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Post by criston on Nov 18, 2020 19:31:04 GMT
Its a few months old now but still pretty good I think. www.4thway.co.uk/candid-opinion/the-bridgecrowd-review/If BC really are running a great operation and I really do hope they as I still have investments there, why the heck can't they spend a bit of money publishing the figures? If they'd do that and on regular occasions I would definitely be keen to start ramping up my investments again. Its really frustrating but I'm not going to take the risk as it stands. As discussed elsewhere, I reckon they do have some loans with loss's, but to maintain their 100% record, they use their own funds to fill the gap. Publishing figures would expose this.
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Greenwood2
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Post by Greenwood2 on Nov 24, 2020 14:57:46 GMT
Its a few months old now but still pretty good I think. www.4thway.co.uk/candid-opinion/the-bridgecrowd-review/If BC really are running a great operation and I really do hope they as I still have investments there, why the heck can't they spend a bit of money publishing the figures? If they'd do that and on regular occasions I would definitely be keen to start ramping up my investments again. Its really frustrating but I'm not going to take the risk as it stands. As discussed elsewhere, I reckon they do have some loans with loss's, but to maintain their 100% record, they use their own funds to fill the gap.Publishing figures would expose this. I think that is unlikely. I've been with them for a good while and haven't seen any losses or suspicious loan repayments (if that is what you are suggesting). I do have some loans with extensive comments which are a fair way overdue and well into legal action to recover funds, if they were 'fixing' their performance using their own funds I think they would have paid these back long ago. Even if they were buying out failed loans, publishing figures probably wouldn't show it, the loans would still have been repaid to lenders and would lenders care where the funds came from if they got their money back? They seem to have plenty of lenders at the minute so don't need to jump through hoops to attract more funds. There is also a new web site that has been coming soon for quite a while, so it may just be they are not bothering too much keeping the the old one current.
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criston
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Post by criston on Nov 24, 2020 15:05:53 GMT
I am not knocking them, good luck to them.
I had one loan that appeared very unlikely to get full recovery, yet suddenly repaid in full without explanation.
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Greenwood2
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Post by Greenwood2 on Nov 24, 2020 15:47:25 GMT
I am not knocking them, good luck to them. I had one loan that appeared very unlikely to get full recovery, yet suddenly repaid in full without explanation. Which loan number? You usually have a lead up to the repayment of a 'difficult' loan, ie, court dates, re-possession dates or re-finance being sought, etc. Normal loans just get repaid on or about the due date, or with a short extension with no fanfare.
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criston
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Post by criston on Nov 24, 2020 15:52:36 GMT
I am not knocking them, good luck to them. I had one loan that appeared very unlikely to get full recovery, yet suddenly repaid in full without explanation. Which loan number? You usually have a lead up to the repayment of a 'difficult' loan, ie, court dates, re-possession dates or re-finance being sought, etc. Normal loans just get repaid on or about the due date, or with a short extension with no fanfare. p2pindependentforum.com/thread/16039/bc
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Greenwood2
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Post by Greenwood2 on Nov 24, 2020 16:20:38 GMT
Which loan number? You usually have a lead up to the repayment of a 'difficult' loan, ie, court dates, re-possession dates or re-finance being sought, etc. Normal loans just get repaid on or about the due date, or with a short extension with no fanfare. p2pindependentforum.com/thread/16039/bcFrom that thread it seems BC were on the ball, rejected borrowers 'sale' and offer on repayment, re-possessed, re-marketed and sold for enough to cover loan + interest.
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michaelc
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Post by michaelc on Nov 27, 2020 17:23:10 GMT
As discussed elsewhere, I reckon they do have some loans with loss's, but to maintain their 100% record, they use their own funds to fill the gap.Publishing figures would expose this. I think that is unlikely. I've been with them for a good while and haven't seen any losses or suspicious loan repayments (if that is what you are suggesting). I do have some loans with extensive comments which are a fair way overdue and well into legal action to recover funds, if they were 'fixing' their performance using their own funds I think they would have paid these back long ago. Even if they were buying out failed loans, publishing figures probably wouldn't show it, the loans would still have been repaid to lenders and would lenders care where the funds came from if they got their money back? They seem to have plenty of lenders at the minute so don't need to jump through hoops to attract more funds. There is also a new web site that has been coming soon for quite a while, so it may just be they are not bothering too much keeping the the old one current. The problem is we just don't know. Neither their funding in a loan nor any purchase of any distressed loan is disclosed. I fully understand the need for confidentially in some cases so get all the investors to sign NDAs if that is what it takes.
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Greenwood2
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Post by Greenwood2 on Nov 28, 2020 10:59:33 GMT
I think that is unlikely. I've been with them for a good while and haven't seen any losses or suspicious loan repayments (if that is what you are suggesting). I do have some loans with extensive comments which are a fair way overdue and well into legal action to recover funds, if they were 'fixing' their performance using their own funds I think they would have paid these back long ago. Even if they were buying out failed loans, publishing figures probably wouldn't show it, the loans would still have been repaid to lenders and would lenders care where the funds came from if they got their money back? They seem to have plenty of lenders at the minute so don't need to jump through hoops to attract more funds. There is also a new web site that has been coming soon for quite a while, so it may just be they are not bothering too much keeping the the old one current. The problem is we just don't know.Neither their funding in a loan nor any purchase of any distressed loan is disclosed. I fully understand the need for confidentially in some cases so get all the investors to sign NDAs if that is what it takes. Why is it a problem if we don't know? If they did choose to buy out a distressed loan why would that be a problem to lenders? If not knowing the details of BCs investments in loans bothers you don't invest.
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michaelc
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Post by michaelc on Nov 28, 2020 14:53:16 GMT
The problem is we just don't know.Neither their funding in a loan nor any purchase of any distressed loan is disclosed. I fully understand the need for confidentially in some cases so get all the investors to sign NDAs if that is what it takes. Why is it a problem if we don't know? If they did choose to buy out a distressed loan why would that be a problem to lenders? If not knowing the details of BCs investments in loans bothers you don't invest. Because its an indicator of the health of the loan book and platform. Small beer really though in comparison to all the other loan book stats they don't publish. Its more a criticism of the FCA and p2p generally. As for not investing, very sadly I have indeed pulled out and only have one loan left. All my loans have been repaid in full with interest so I have done very well but after experiences on other platforms, I will not tolerate opacity.
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nick
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Post by nick on Feb 24, 2021 13:56:24 GMT
Why is it a problem if we don't know? If they did choose to buy out a distressed loan why would that be a problem to lenders? If not knowing the details of BCs investments in loans bothers you don't invest. Because its an indicator of the health of the loan book and platform. Small beer really though in comparison to all the other loan book stats they don't publish. Its more a criticism of the FCA and p2p generally. As for not investing, very sadly I have indeed pulled out and only have one loan left. All my loans have been repaid in full with interest so I have done very well but after experiences on other platforms, I will not tolerate opacity. Important to note, SoMo isn't P2P, the borrower is always SoMo operating with a trust structure which hopefully protects lenders in the event of SoMo failing. Hopefully the effectiveness of the trust structure will never be tested.......
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