keitha
Member of DD Central
2024, hopefully the year I get out of P2P
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Post by keitha on Sept 8, 2023 9:21:25 GMT
Yes another annoyance, they no longer post that recoveries have been received
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mikeb
Posts: 1,053
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Post by mikeb on Sept 10, 2023 16:35:09 GMT
Following a forumite's recent post, I found an unexpected recovery on my partner's account without recent loan comments. #35126. I don't think they bother with loan comments at all since the wind-down started. My last "loan comment" was back in June 2022 -- many dribblements have been made since then as recovery of interest/capital but not commented.
The only way to keep track is watch your statements.
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
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Likes: 2,313
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Post by keitha on Sept 11, 2023 10:35:32 GMT
9th June 2022 was my last comment saying "recovery payment received"
13/9 Just updated my spreadsheet for recoveries. I keep completed recoveries and those with no chance of recovery separate to ones I might get recoveries against. When I started it was showing 30% recovery against live, I moved the 3 loans with a full recovery to the other section and the recovery average dropped from 30% to 8%. however on the plus side the completed and sold offs are now running at 55%.
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
Posts: 3,875
Likes: 2,313
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Post by keitha on Oct 30, 2023 12:51:27 GMT
Today made a withdrawal
I'm £100 up on where I was when I started the withdrawal process 1% left in live / late loans if I assume 40% of my defaults not paid off or sold off that's another 2% A little over a 3% return in over 4 years is very poor ( especially as some of that could be a year or more coming in )d
Sold off / Fully repaid are 55% by value However If I remove the fully repaid the recover rate drops to 35%
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
Posts: 3,875
Likes: 2,313
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Post by keitha on Nov 1, 2023 22:04:09 GMT
Took a look earlier
52% of my live loans mature in the next month, and 66% before Christmas, everything live and late should mature by the end of June,
hen I looked at defaults 20% by number, 25% by value had 49 or more months to run when they went pop. Of course this doesn't mean only 20% went in the first year, but I can't find a way of working out how long a loan was for ie 12, 24,3 6, 48, 60 months.
I think if FC want us out ( the obviously don't want retail) then a payment at the end of June to clear any remaining live loans, Plus say 66% of the balance on "live" defaults, would be acceptable to most of us. The alternative is a long drawn out process. I have 2 at £18 plus paying 1P a month, and a £25 at 8P a month, I have several other that will take 20+ years to repay, so a settlement would really be in all our interests
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
Posts: 3,875
Likes: 2,313
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Post by keitha on Dec 17, 2023 15:15:42 GMT
Well we got a settlement of most at the end of November
looks to me like they've dumped everything that might be recoverable, the ones I have nothing on are ones I had mentally marked as un recoverable
most have been sold off at < 20% of what was owed ( including those defaulted in the last few months)
I had 36 "live" defaults, down to 6
40962 MXXXXXN press has returned 18.66% this had a comment in 2020 that the PG was bankrupt as well as company and little chance of a recovery so although it was a small amount it's more than I expected to ever get.
average return on defaults 44.5%
I'm down to 6 defaults that "might" pay something although I doubt it. Most look like business and guarantor are bankrupt
33 live of which 9 will repay by Christmas. 11 late
however the whole remains of my portfolio represent a decent bottle of champagne, so I think next year I will look once a month and withdraw any decent amounts. Tuck the lot away and use it towards that bottle for next Christmas.
then I look at this year and defaults are within £1 of interest income the only thing that has helped is that the sale of debts that defaulted this year is 25% of the default amount. Still looking on the bright side income from interest plus repayments of bad debts is only around £100 so not enough to trouble me on the tax forms
Since August 2019 I'm £260 up with the possibility of another £75 if the remaining loans all pay up in full so £80 a year for 4 years , even at the pathetic interest rates we've had until recently it would have been better in the bank, and a lot less angst
the £50 from the fire debt sale is going on a nice bottle of wine for Christmas.
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Post by spareapennyor2 on Jan 25, 2024 9:23:54 GMT
state of play new low
FUNDING CIRCLE HOLDINGS PLC
Share
Funding Circle Holdings PLC Logo
Company Price (GBX)32.00 -0.93% (-0.30)
FCHORD 0.1P
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
Posts: 3,875
Likes: 2,313
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Post by keitha on Apr 28, 2024 21:17:07 GMT
As of Thursday ( 25/4/24 ) I have no live loans !
4 years and 8 months since I got the first lump of money out in that time I've "earned" 4.82 % in interest The problem being that about 15% of my loans at the time of starting to get out have gone bad with a recovery rate around 44% helped by a small number recovering over 100%, Recoveries on Debt sales seems to be around the 30% mark but only around 20% on the last tranche.
I have 2 bad debt loans not yet sold off and with a prospect of recovery
My prediction of £75 was wrong even if the 2 that are late default I will have over £80
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