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Post by brummiefred on Feb 5, 2014 0:20:59 GMT
Just wanted to say that the only outstanding Listing that I now have is the 'final' one, a laptop loan to an OU student at 1% to mark the end, and, much against the advice of GG I had almost 50% of my investment in carefully selected Listings and all have repaid without a single default. Thank you to all borrowers.
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Post by Ton ⓉⓞⓃ on Mar 11, 2014 15:19:14 GMT
Just wanted to say that the only outstanding Listing that I now have is the 'final' one, a laptop loan to an OU student at 1% to mark the end, and, much against the advice of GG I had almost 50% of my investment in carefully selected Listings and all have repaid without a single default. Thank you to all borrowers. I bid on the last one too for nostalgia sake. But to get no defaults was quite a feat. How on earth did you do that? I think I specialized in them. About half my total defaults have been with Listers all springing I think from the 08/09 infamous period. I still have 7 distinct loans running (another 29 late/arrangement). I put in just under 5k, I've not got back all my capital but the if I add on the interest I'm about £200 ahead. I count it a lesson, I just hope I've actually learned it. I always remember the guy or couple called TEMPERHOT who almost always threw hundreds if not thousands at every Listing. He often got some very high amounts at high rates, but made it very difficult for others to get the appropriate rate.
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mikes1531
Member of DD Central
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Post by mikes1531 on Mar 13, 2014 21:15:56 GMT
I put in just under 5k, I've not got back all my capital but the if I add on the interest I'm about £200 ahead. Have you made the same calculation after including the effect of the unfavourable tax treatment for bad debt? If so, did you still end up ahead? Or was the tax effect large enough to put you back into a losing situation?
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starfished
Member of DD Central
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Post by starfished on Mar 13, 2014 23:32:44 GMT
Just wanted to say that the only outstanding Listing that I now have is the 'final' one, a laptop loan to an OU student at 1% to mark the end, and, much against the advice of GG I had almost 50% of my investment in carefully selected Listings and all have repaid without a single default. Thank you to all borrowers. I bid on the last one too for nostalgia sake. But to get no defaults was quite a feat. How on earth did you do that? I think I specialized in them. About half my total defaults have been with Listers all springing I think from the 08/09 infamous period. I still have 7 distinct loans running (another 29 late/arrangement). I put in just under 5k, I've not got back all my capital but the if I add on the interest I'm about £200 ahead. I count it a lesson, I just hope I've actually learned it. I always remember the guy or couple called TEMPERHOT who almost always threw hundreds if not thousands at every Listing. He often got some very high amounts at high rates, but made it very difficult for others to get the appropriate rate. Admittedly small sample and missed 08/09 (joined mid 10) but out of my 23 Listings no defaults which is not bad going... Really enjoyed Listings!
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mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
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Post by mikes1531 on Mar 14, 2014 2:42:24 GMT
I bid on the last one too for nostalgia sake. But to get no defaults was quite a feat. How on earth did you do that? I think I specialized in them. About half my total defaults have been with Listers all springing I think from the 08/09 infamous period. I still have 7 distinct loans running (another 29 late/arrangement). I put in just under 5k, I've not got back all my capital but the if I add on the interest I'm about £200 ahead. I count it a lesson, I just hope I've actually learned it. I always remember the guy or couple called TEMPERHOT who almost always threw hundreds if not thousands at every Listing. He often got some very high amounts at high rates, but made it very difficult for others to get the appropriate rate. Admittedly small sample and missed 08/09 (joined mid 10) but out of my 23 Listings no defaults which is not bad going... Really enjoyed Listings! I started earlier (Nov.'07) and made 29 loans for a total of £290. Of those 29, 23 were paid back in full and 6 defaulted. Total capital returned was £239 and, since £230 would have come from the fully repaid loans, only £9 came from the 6 defaults for an average capital return of just 15% on the defaults.  The total interest I received was £29, so my venture into Listings cost me £22 (= £290 - £239 -£29). Plus, of course, I had to pay income tax on the £29 of interest earned. I liked the concept of Listings, but decided that they took too much time to evaluate, so I gave them a miss after Nov.'09. (I made one exception after that for a fellow Zopa lender.)
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Post by Ton ⓉⓞⓃ on Mar 15, 2014 22:02:58 GMT
From Listings my interest was £1058. And I'm a 20% tax payer so I'm sure you can see where this is going...
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The total interest I received was £29, so my venture into Listings cost me £22 (= £290 - £239 -£29). Plus, of course, I had to pay income tax on the £29 of interest earned.