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Post by overthehill on Jul 1, 2024 9:19:22 GMT
18 months beyond its due date is mere bagatelle, I've got 3 loans that are 1124, 932 and 914 days overdue. Is there an easy way of finding these figures? And what point in time are you using for the reference? The loan end date seems to be a moveable feast for CP.
Download the spreadsheet available in your account and add extra columns with your data. It's easy to cut and paste sections as they don't change the order of the loans.
Funnily enough, I add an original end date column just in case they change it and my figures are even worse.
1246, 1013, 934 days late.
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Post by Ace on Jul 1, 2024 13:08:43 GMT
The stats page has been updated to show yesterday's repayment of 9**4 W******l R**d B*******d. It was 18 months beyond its due date. There are now 38 in default (69 defaulted, of which 31 have since repaid/settled, 1 of which had a small capital loss). As above, the lender transactions for some of the tranches have been left in an inconsistent state, where they state that the funds have been fully repaid but the stated amount of capital repayment is less than the capital lent. I've seen this before, and expect that if will get fixed early next week. It's really bad form for CP to leave the lender accounts in this inconsistent state, especially over the weekend, but excellent news that this large and long defaulted loan has been guided through to a successful completion. The missing payments have now been credited to my accounts.
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Post by brummiefred on Jul 1, 2024 14:03:25 GMT
Yes but still no interest paid against the Second charge on CP Capital
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morris
Member of DD Central
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Post by morris on Jul 1, 2024 15:40:07 GMT
And won't be for some time, if at all!
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Post by Ace on Jul 1, 2024 16:00:57 GMT
It's very good news that CP have decided to forgo (at least for now) a large amount of their fees in order to ensure that the first charge capital and interest and the second charge capital is repaid to investors. I think that they should be commended for this.
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billt
Posts: 105
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Post by billt on Jul 1, 2024 17:29:23 GMT
I suspect that the comments on this forum have to some extent influenced their decision.
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p2pfan
Member of DD Central
Full-Time Investor
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Post by p2pfan on Jul 2, 2024 11:34:54 GMT
The non-payment of interest on the second charge loan means that lenders have lost a fair whack on the value of their money due to inflation.
It is a test of CP's ability now, to see if they will energetically pursue the Personal Guarantee that they endless rave about that they have on borrowers and end up with a successful outcome.
If they don't manage to get money out of an out-and-out fraudulent borrower like this, who has repeatedly faked documents, via the Personal Guarantee they have, then it will remind us all of how little/no protection we have for our monies.
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Post by brummiefred on Jul 2, 2024 11:53:16 GMT
Quite!! and would it not have been possible to retain the Second Charge against what should be an income producing development
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Post by brummiefred on Jul 2, 2024 12:13:36 GMT
Partial repayments today against three longstanding defaulted projects
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Post by Ace on Jul 2, 2024 19:37:05 GMT
G*******e H***e, 11 U***n C***t, L*******l (5 phases) is recorded as having been fully repaid today. I received a slew of interest payments between 13:30 and 14:00 today, but no capital yet. Presumably the capital will be repaid tomorrow/soon. Again, great news that a loan that was just over 1 year overdue has been guided through to a successful conclusion, but I really wish they wouldn't leave accounts in this strange inconsistent state overnight.
Presumably, the stats page will be updated overnight to show that this defaulted loan has repaid (sort of).
Note that there was also a bridging loan of the same name that was fully repaid in March 2022 prior to this development loan starting.
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qwakuk
Member of DD Central
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Post by qwakuk on Jul 2, 2024 19:40:15 GMT
Partial repayments today against three longstanding defaulted projects Thank you for the message, I am not getting the "loan repaid" type emails - do they still send them ? Get the Friday round up email Checked my email server and they are not being blocked so a mystery to me Get the daily, loan available today is .... Not interested in investing until all the arrears are repaid so irrelevant to me, just get deleted as soon as I see them
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Post by Ace on Jul 2, 2024 19:44:53 GMT
Partial repayments today against three longstanding defaulted projects Thank you for the message, I am not getting the "loan repaid" type emails - do they still send them ? Get the Friday round up email Checked my email server and they are not being blocked so a mystery to me Get the daily, loan available today is .... Not interested in investing until all the arrears are repaid so irrelevant to me, just get deleted as soon as I see them Payment messages and emails for these payments don't seem to have been sent yet. They are sometimes made the day after the payment.
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Post by Ace on Jul 3, 2024 6:44:00 GMT
G*******e H***e, 11 U***n C***t, L*******l (5 phases) is recorded as having been fully repaid today. I received a slew of interest payments between 13:30 and 14:00 today, but no capital yet. Presumably the capital will be repaid tomorrow/soon. Again, great news that a loan that was just over 1 year overdue has been guided through to a successful conclusion, but I really wish they wouldn't leave accounts in this strange inconsistent state overnight. Presumably, the stats page will be updated overnight to show that this defaulted loan has repaid (sort of). Note that there was also a bridging loan of the same name that was fully repaid in March 2022 prior to this development loan starting. As expected, the stats page has been updated to show yesterday's repayment. It was 12 months beyond its due date. There are now 37 in default (69 defaulted, of which 32 have since repaid/settled, 1 of which had a small capital loss).
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Post by Ace on Jul 3, 2024 9:39:24 GMT
G*******e H***e, 11 U***n C***t, L*******l (5 phases) is recorded as having been fully repaid today. I received a slew of interest payments between 13:30 and 14:00 today, but no capital yet. Presumably the capital will be repaid tomorrow/soon. Again, great news that a loan that was just over 1 year overdue has been guided through to a successful conclusion, but I really wish they wouldn't leave accounts in this strange inconsistent state overnight. Presumably, the stats page will be updated overnight to show that this defaulted loan has repaid (sort of). Note that there was also a bridging loan of the same name that was fully repaid in March 2022 prior to this development loan starting. As expected, the stats page has been updated to show yesterday's repayment. It was 12 months beyond its due date. There are now 37 in default (69 defaulted, of which 32 have since repaid/settled, 1 of which had a small capital loss). Capital and interest, including penalty interest, has now been fully repaid.
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benaj
Member of DD Central
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Post by benaj on Jul 3, 2024 12:51:08 GMT
I checked my account by chance. Interestingly, I receive partial payment from CP Project 8235 today. 40% capital remain outstanding and received 10.16% interest and 60% partial capital repayment after project went live 729 days. NAR is about 4.53%
Could someone please explain I don't receive notification for partial payment from CP?
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