Post by james on Apr 21, 2015 12:13:06 GMT
While it's still available P2P firms might want to read and laugh at Bondora's latest promotion: Try Bondora Portfolio Managers without the risk of losing money. The joke is in the small print: "On November 30, 2015 Bondora will propose to buy campaign bids in defaulted loans". It's now 20 April. The buying will happen for loans that Bondora says have defaulted by 30 November. It takes at least two full missed payments for a loan to become in default, which means three months since last payment. The buy date is a little over seven months away so that means a loan has to start defaulting within the first four months to be covered. Bondora's timing profile is for most loans that eventually default not to start within that time period. A bonus joke is that Bondora routinely offers to reschedule late and about to default loans so can further reduce its liability by doing this until the time of the offer is ended.
There's an extra bonus as well: the email version mentioned the try risk free part but didn't give the conditions, instead linking to the blog. For your delectation here's the whole of the email version:
"Try Portfolio Managers without the risk of losing money (in large bold text)
(normal text size)We are excited to announce a pilot campaign with the goal of ensuring trust in using Portfolio Managers for making investments on Bondora platform. We believe that using Portfolio Managers is the most efficient way to invest on our platform; and thus, welcome you to try them out without the risk of losing money*.
The investment amount placed using Portfolio Managers during the period from April 21, 2015 to April 30, 2015 is guaranteed by Bondora to produce no net loss on investment.
(bold)That’s correct! On November 30, 2015 Bondora will propose to buy the campaign bids in defaulted loans for the compensation amount equaling the total defaulted principal of campaign bids, less the total of received and scheduled interest.
In short, we guarantee to bring your pool of campaign bids into the black by December!
READ THE DETAILS ON OUR BLOG
Kind regards,
Bondora
(small italic text)*Please remember that your capital remains at risk as you are providing unsecured personal loans. The campaign covers the credit risk for the investments made by Portfolio Managers during the campaign period, however, it does not account for the operational or any other risks; and thus, there is a possibility that you may lose some or all of your investment, as it is not protected by any financial compensation scheme. To learn more about the risks please read our investment guide."
There's an extra bonus as well: the email version mentioned the try risk free part but didn't give the conditions, instead linking to the blog. For your delectation here's the whole of the email version:
"Try Portfolio Managers without the risk of losing money (in large bold text)
(normal text size)We are excited to announce a pilot campaign with the goal of ensuring trust in using Portfolio Managers for making investments on Bondora platform. We believe that using Portfolio Managers is the most efficient way to invest on our platform; and thus, welcome you to try them out without the risk of losing money*.
The investment amount placed using Portfolio Managers during the period from April 21, 2015 to April 30, 2015 is guaranteed by Bondora to produce no net loss on investment.
(bold)That’s correct! On November 30, 2015 Bondora will propose to buy the campaign bids in defaulted loans for the compensation amount equaling the total defaulted principal of campaign bids, less the total of received and scheduled interest.
In short, we guarantee to bring your pool of campaign bids into the black by December!
READ THE DETAILS ON OUR BLOG
Kind regards,
Bondora
(small italic text)*Please remember that your capital remains at risk as you are providing unsecured personal loans. The campaign covers the credit risk for the investments made by Portfolio Managers during the campaign period, however, it does not account for the operational or any other risks; and thus, there is a possibility that you may lose some or all of your investment, as it is not protected by any financial compensation scheme. To learn more about the risks please read our investment guide."
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