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Post by Ace on Apr 12, 2023 7:28:04 GMT
... and another 2. Now 19 in default.
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Post by lotus_eater on Apr 12, 2023 11:00:31 GMT
... and another 2. Now 19 in default. Are you still hot on CP Ace? We've discussed this before obviously :-) I'm trying to prepare myself for some losses in the near future (assuming they stay solvent). This company does not "feel" good to me.
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Post by jono75 on Apr 12, 2023 16:49:17 GMT
I think it's all my fault, everyone loved CP until I put some money in  |
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Post by Ace on Apr 12, 2023 20:05:04 GMT
... and another 2. Now 19 in default. Are you still hot on CP Ace? We've discussed this before obviously :-) I'm trying to prepare myself for some losses in the near future (assuming they stay solvent). This company does not "feel" good to me. In short, yes. I'm very happy to be steadily increasing my exposure to CP via both platform loans and in platform equity. CP are currently my third largest platform, and could rise to second soon. I do expect to see some losses on a small number of loans eventually, but I expect them to be relatively small compared to the much larger profits. IMO the chances of overall losses from a well diversified CP portfolio is extremely low. I can't see why you would have concerns of them staying solvent. They are already profitable and have just raised over another £400k for faster platform expansion. The number of loans in default is bound to naturally ebb and flow over time. I'm noting them in this thread when I notice changes to give me (us) a record of how things change over time. The stats on my active CP account are all heading in the right direction (net profits, XIRR, capital in defaulted loans). I've raised many comments on the forum where I feel that CP could and should do better, but I'd be very disappointed not to have them in my portfolio.
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Post by Ace on Apr 18, 2023 15:33:04 GMT
Another loan has entered default, and one of the previously defaulted loans has just repaid in full. So, the number of loans currently in default should be back to 19 when the stats update overnight (37 have defaulted; 18 of these have repaid).
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Post by Ace on May 4, 2023 6:56:06 GMT
The number of loans currently in default has risen to 20 (38 defaulted, 18 of those subsequently repaid).
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Post by Ace on May 22, 2023 23:07:37 GMT
Another large defaulted loan repaid on Mon 22nd, so stats should update overnight to show a reduction to 19 defaulted loans (38 defaulted, 19 of which repaid).
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morris
Member of DD Central
Posts: 272 
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Post by morris on May 23, 2023 6:39:02 GMT
It's pushed up my realised average return as well.
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Post by Ace on May 23, 2023 7:37:41 GMT
It's pushed up my realised average return as well. And also pushed the total interest received by all over the £15m mark.
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Post by Ace on May 24, 2023 12:32:35 GMT
Another project is in default, so back up to 20 (39 defaulted, of which 19 have since repaid).
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,045
Likes: 1,862
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Post by littleoldlady on May 26, 2023 16:06:58 GMT
Another large defaulted loan repaid on Mon 22nd, so stats should update overnight to show a reduction to 19 defaulted loans (38 defaulted, 19 of which repaid). When an overdue loan repays, is interest generally paid for the whole of the loan term ie without any interest "holiday" during lockdown.
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Post by Ace on May 26, 2023 16:18:02 GMT
Another large defaulted loan repaid on Mon 22nd, so stats should update overnight to show a reduction to 19 defaulted loans (38 defaulted, 19 of which repaid). When an overdue loan repays, is interest generally paid for the whole of the loan term ie without any interest "holiday" during lockdown. Yes, and with the extra 2% penalty interest for the overrun period.
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,045
Likes: 1,862
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Post by littleoldlady on May 26, 2023 16:28:20 GMT
When an overdue loan repays, is interest generally paid for the whole of the loan term ie without any interest "holiday" during lockdown. Yes, and with the extra 2% penalty interest for the overrun period. Thanks. So the "Expected interest" figure shown in the portfolio is only for the initial loan period and is not updated once the loan becomes overdrawn? If my largest loan (@8%) were to repay when it is 5 years old in a few months I would get 1 year at 8% and 4 years at 10% so a stonking 48%. That would be a most welcome outcome, but I will not earmark it for any expenditure just yet.
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Post by Ace on May 26, 2023 20:55:38 GMT
Yes, and with the extra 2% penalty interest for the overrun period. Thanks. So the "Expected interest" figure shown in the portfolio is only for the initial loan period and is not updated once the loan becomes overdrawn? If my largest loan (@8%) were to repay when it is 5 years old in a few months I would get 1 year at 8% and 4 years at 10% so a stonking 48%. That would be a most welcome outcome, but I will not earmark it for any expenditure just yet. Yes, that's all correct, but I doubt there's a high probability that a 4 year late loan will have sufficient funds to pay the 48% accrued.
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benaj
Member of DD Central
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Posts: 5,591
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Post by benaj on May 31, 2023 10:56:06 GMT
Any info regarding number of loans receiving additional % from the expected end date?
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