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Post by magpiestjames on Jul 12, 2021 9:59:23 GMT
Hi folks new to this site hopefully someone can answer this question.
I started lending on Unbolted December 29th 2020 and had a fair few loans go out pretty quickly quite a few are now due to be repaid but i currently have £130 worth of loans marked as overdue its not a problem but what i wanted to know is will i still earn interest on these overdue loans until they have been fully repaid ? Thanks
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 12, 2021 11:06:32 GMT
Hi folks new to this site hopefully someone can answer this question. I started lending on Unbolted December 29th 2020 and had a fair few loans go out pretty quickly quite a few are now due to be repaid but i currently have £130 worth of loans marked as overdue its not a problem but what i wanted to know is will i still earn interest on these overdue loans until they have been fully repaid ? Thanks Yes, but whether you actually receive it is subject to the interest being paid/recovered. So far, been using UB for a year, and all interest received on overdue/recovered loans.
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Post by Ace on Jul 12, 2021 11:12:44 GMT
Hi folks new to this site hopefully someone can answer this question. I started lending on Unbolted December 29th 2020 and had a fair few loans go out pretty quickly quite a few are now due to be repaid but i currently have £130 worth of loans marked as overdue its not a problem but what i wanted to know is will i still earn interest on these overdue loans until they have been fully repaid ? Thanks Yes, but whether you actually receive it is subject to the interest being paid/recovered. So far, been using UB for a year, and all interest received on overdue/recovered loans. Ditto, having been using them for a little over 3 years now.
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Post by magpiestjames on Jul 12, 2021 11:14:36 GMT
Thanks for the swift reply
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registerme
Member of DD Central
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Post by registerme on Jul 12, 2021 11:59:19 GMT
Coming up to four years here (will hit that mark at the end of August). I think once, in that time, I've lost out a few pence when something was sold at auction and didn't quite recover all the monies due.
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Post by df on Jul 12, 2021 15:42:32 GMT
Four and half years here. Can't recall loosing interest on any overdue loans.
We'll have to wait and see what happens with "Mr An**** Mi***" loans, the accrued interest must be huge by now. But these have defaulted more than 3 years ago (March 2018?), so newer investors won't be affected.
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treeman
Member of DD Central
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Post by treeman on Jul 12, 2021 23:24:49 GMT
No overall Capital losses.
However there's been a small number of 'interest losses' where the security didn't sell for enough at auction and the repayment was made up by the old Provision Trust/Gold Trust to a net zero position so that no overall investor loss occured taking any interest received during the loan term into account.
So, for these, repayment from Auction + Trust + any interest = original investment. No loss, but nothing 'earned'.
Nowadays, with no Trusts available to top up, any shortfall in terms of Recoveries + any interest received vs original investment will be a capital loss.
Mine, FWIW, some stats:
3027 Loans Bought (obvs actually includes 'renewed' loans) 84 Currently overdue (inc a thankfully small amount across 18 loans to that borrower)
159 Sold at Auction 7 of which have returned 'no net loss', the others having returned full capital and interest.
This can all be extracted/calculated (relatively) easily from the downloads in excel or, for your loans only, using the data on the Loan Portfolio page (no DL but can be laboriously and slowly scraped), or via the Loan Tape-Defaulted and resolved loans for what I believe is all loans, which if it is suggests UNB have had to top up just 47 loans.
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Post by overthehill on Dec 1, 2021 12:00:53 GMT
My screen has filled with 'Overdue loan asset put on sale' emails.
I haven't got around to checking my account for capital losses or loss of interest on loans. Is there is a quick and simple way to check this ?
Has anybody lost capital or interest on any loans or is that silly question ?
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archie
Posts: 1,838
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Post by archie on Dec 1, 2021 13:26:20 GMT
My screen has filled with 'Overdue loan asset put on sale' emails.
I haven't got around to checking my account for capital losses or loss of interest on loans. Is there is a quick and simple way to check this ?
Has anybody lost capital or interest on any loans or is that silly question ?
Capital losses is easy to check. The tax statement screen shows these. I've lost 19p in just over four years.
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Post by overthehill on Dec 1, 2021 13:33:52 GMT
My screen has filled with 'Overdue loan asset put on sale' emails.
I haven't got around to checking my account for capital losses or loss of interest on loans. Is there is a quick and simple way to check this ?
Has anybody lost capital or interest on any loans or is that silly question ?
Capital losses is easy to check. The tax statement screen shows these. I've lost 19p in just over four years.
Is that capital only or capital and interest ?
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Post by Ace on Dec 1, 2021 13:57:07 GMT
Capital losses is easy to check. The tax statement screen shows these. I've lost 19p in just over four years.
Is that capital only or capital and interest ?
I believe it relates to capital only as the title is "capital losses". I'm showing zero losses in 4 years across 3 accounts.
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archie
Posts: 1,838
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Post by archie on Dec 1, 2021 13:57:10 GMT
Capital losses is easy to check. The tax statement screen shows these. I've lost 19p in just over four years.
Is that capital only or capital and interest ?
I believe it's capital only. Not sure how you would check loss of interest.
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Post by Badly Drawn Stickman on Dec 1, 2021 20:13:26 GMT
My screen has filled with 'Overdue loan asset put on sale' emails.
I haven't got around to checking my account for capital losses or loss of interest on loans. Is there is a quick and simple way to check this ?
Has anybody lost capital or interest on any loans or is that silly question ?
Lot of items being sold, but they only look to relate too two loans. This is not that uncommon I have seen it a few times before, presumably gets the best recovery that way.
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