dermot
Member of DD Central
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Post by dermot on Jun 24, 2021 14:19:57 GMT
Have 57 notification emails today so far as pledges are being sold off to repay loans.
The majority to be sold tomorrow, so I guess my cash drag figure will increase again.
All those split between ISA and standard, so many duplicates.
I still have plenty of headroom in this year's ISA account, so continuing to sell out of standard account. Soon, will only have loans that are the subject of the legal claim outstanding.
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Post by Badly Drawn Stickman on Jun 24, 2021 14:36:26 GMT
Have 57 notification emails today so far as pledges are being sold off to repay loans. The majority to be sold tomorrow, so I guess my cash drag figure will increase again. All those split between ISA and standard, so many duplicates. I still have plenty of headroom in this year's ISA account, so continuing to sell out of standard account. Soon, will only have loans that are the subject of the legal claim outstanding. Might not be as bad as it initially looks, I was curious at so many so had a look and it seems in some cases to be individual items from loans on 'grouped assets'. Or in simple terms not every sale is a loan.
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dermot
Member of DD Central
Posts: 862
Likes: 517
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Post by dermot on Jun 24, 2021 14:50:35 GMT
Have 57 notification emails today so far as pledges are being sold off to repay loans. The majority to be sold tomorrow, so I guess my cash drag figure will increase again. All those split between ISA and standard, so many duplicates. I still have plenty of headroom in this year's ISA account, so continuing to sell out of standard account. Soon, will only have loans that are the subject of the legal claim outstanding. Might not be as bad as it initially looks, I was curious at so many so had a look and it seems in some cases to be individual items from loans on 'grouped assets'. Or in simple terms not every sale is a loan. Yep, on inspection, I found the same. Still, good to have old delinquent loans cleared up and off the books.
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nick
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Post by nick on Jun 24, 2021 15:11:49 GMT
Out of interest (excuse the pun), what are lender's general experience in the proportion of interest that is eventually written-off. I periodically review the results of individual asset sales on default and get the impression that in most cases there is full recovery of accrued interest (I have no capital losses reported over the past 4 years) - but I haven't invested the time to work out the total interest lost from shortfalls from asset realizations on default as it hasn't seemed to be an issue to date.
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Jun 25, 2021 14:54:11 GMT
Not had any that have not returned full payment, yet.
The only one I recall was made up by UBL as it was an admin error iirc.
Hopefully the courts will rule in our favour soon in the case of the solicitors loans.
Now that would lead to a large balance increase for those "fortunate" enough to have lent the borrower money.
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Post by df on Jun 25, 2021 15:42:15 GMT
My cash balance has doubled since yesterday, never seen such increase before. I wonder why so many in one go? Looks like the bulk of it is the of same borrower? All of redeemed have earned interest - very happy with that
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