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Post by bulyou on Nov 3, 2021 0:47:46 GMT
hi guys,
i was making a withdrawal from my fc account and spotted something in the numbers i'm not sure how to account for.
the first set of figures were on my account in September after i withdrew all my available funds:
INTEREST £14,934.87
FEES -£1,613.07
DEFAULTS -£10,063.91
RECOVERIES £4,598.73
NET EARNINGS £7,976.86
PORTFOLIO TOTAL £3,402.84
this second set of figures are from my account a few days back when i next withdrew all my available funds:
INTEREST £14,982.15
FEES -£1,617.61
DEFAULTS -£10,150.01
RECOVERIES £4,655.28
NET EARNINGS £7,990.05
PORTFOLIO TOTAL £2,943.47
from the figures,
the positives:interest & recoveries and negatives: fees & defaults are accounted for in the net earnings:
+47.28+56.55-4.54-86.1= +13.19, ie my net earnings have increased by this amount
i would expect this to be the amount of money i would be able to withdraw
but what i don't understand is:
1) why am i able to withdraw £168.68?
2) why my portfolio total has reduced by £459.37?
if there were loans that were late that defaulted, i would expect those to have been picked up in the default number. i am not sure what i am missing....it could just be something basic, but would appreciate some suggestions.
i intend to contact fc to get an explanation but i usually find their replies hard to parse so thought i'd give it try here first!
thanks
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Post by overthehill on Nov 3, 2021 9:35:06 GMT
hi guys, i was making a withdrawal from my fc account and spotted something in the numbers i'm not sure how to account for. the first set of figures were on my account in September after i withdrew all my available funds: INTEREST £14,934.87 FEES -£1,613.07 DEFAULTS -£10,063.91 RECOVERIES £4,598.73 NET EARNINGS £7,976.86 PORTFOLIO TOTAL £3,402.84 this second set of figures are from my account a few days back when i next withdrew all my available funds: INTEREST £14,982.15 FEES -£1,617.61 DEFAULTS -£10,150.01 RECOVERIES £4,655.28 NET EARNINGS £7,990.05 PORTFOLIO TOTAL £2,943.47 from the figures, the positives:interest & recoveries and negatives: fees & defaults are accounted for in the net earnings: +47.28+56.55-4.54-86.1= +13.19, ie my net earnings have increased by this amount i would expect this to be the amount of money i would be able to withdraw but what i don't understand is: 1) why am i able to withdraw £168.68? 2) why my portfolio total has reduced by £459.37? if there were loans that were late that defaulted, i would expect those to have been picked up in the default number. i am not sure what i am missing....it could just be something basic, but would appreciate some suggestions. i intend to contact fc to get an explanation but i usually find their replies hard to parse so thought i'd give it try here first! thanks makes no sense to me but I'm not in FC any more. My guess is the default number is missing a recent default assuming portfolio total doesn't include defaults. I take it the data is only produced monthly.
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wuzimu
Member of DD Central
Posts: 230
Likes: 705
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Post by wuzimu on Nov 3, 2021 13:36:41 GMT
bulyouI take it you must have had well over £50k in FC for a while...and have tried to get out and are stuck with a zombie defaulted loan book? Bet You didn't think FC fees and defaults would eat up half your gross returns when you invested?, haha.... On the bright side these numbers are quite good for P2P,, at least you have made a positive return. If you have any defaulted property loans from before sept 2017, you should be able to get those back via FOS complaint. There is no point trying to reconcile the FC summary, I have spent long time discussing this subject with FC. They generally are innumerate, but for loans prior to sept 2017 you can win at FOS.
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scooter
Member of DD Central
Posts: 229
Likes: 159
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Post by scooter on Nov 3, 2021 14:41:24 GMT
hi guys, i was making a withdrawal from my fc account and spotted something in the numbers i'm not sure how to account for. the first set of figures were on my account in September after i withdrew all my available funds: INTEREST £14,934.87 FEES -£1,613.07 DEFAULTS -£10,063.91 RECOVERIES £4,598.73 NET EARNINGS £7,976.86 PORTFOLIO TOTAL £3,402.84 this second set of figures are from my account a few days back when i next withdrew all my available funds: INTEREST £14,982.15 FEES -£1,617.61 DEFAULTS -£10,150.01 RECOVERIES £4,655.28 NET EARNINGS £7,990.05 PORTFOLIO TOTAL £2,943.47 from the figures, the positives:interest & recoveries and negatives: fees & defaults are accounted for in the net earnings: +47.28+56.55-4.54-86.1= +13.19, ie my net earnings have increased by this amount i would expect this to be the amount of money i would be able to withdraw but what i don't understand is: 1) why am i able to withdraw £168.68? 2) why my portfolio total has reduced by £459.37? if there were loans that were late that defaulted, i would expect those to have been picked up in the default number. i am not sure what i am missing....it could just be something basic, but would appreciate some suggestions. i intend to contact fc to get an explanation but i usually find their replies hard to parse so thought i'd give it try here first! thanks makes no sense to me but I'm not in FC any more. My guess is the default number is missing a recent default assuming portfolio total doesn't include defaults. I take it the data is only produced monthly.
If you have late loans they are not included in defaults. I hate to say anything good about FC but their numbers and reports are faultless on my account. I guess the difference to net earnings and amount withdrawable is principle returned
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keitha
Member of DD Central
FC loans defaulting faster than I can eat cream cakes
Posts: 2,594
Likes: 1,513
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Post by keitha on Nov 5, 2021 10:01:02 GMT
principal returned especially if a large amount
I keep an eye on the number of live outstanding loans sometimes One will pay off the outstanding balance in a single payment giving a large ( or not ) capital payment
if you enjoy the challenge download the transactions into excel and play
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Post by bulyou on Nov 9, 2021 23:38:12 GMT
sorry guys, completely forgot about this post due to some life circumstances
i think i'll have a look at the transactions as they account for everything, i just wanted to check it wasn't something obvious that i missed!
thanks to everyone who responded!
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