p2pmaster
investment is life.
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Post by p2pmaster on Jan 3, 2016 13:34:41 GMT
Thanks for update, James. The lenders in this case or creditors in general are in the worst position as the bankrupcy administrator is firstly trying to cover his budget and there is usually no success fee based on recovery rates, hence no interest to go after the late payments.
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Post by westonkevRS on Jan 9, 2016 13:56:25 GMT
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Post by Financial Thing on Jan 9, 2016 18:40:29 GMT
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Post by davee39 on Jan 9, 2016 18:53:40 GMT
I have no idea who, but I am avoiding the following
- Platforms paying an exceptionally high introductory bonus.
- Platforms not Uk based
- Platforms with negligable deal flow and a tiny overall size
- Platforms which are complicated
- Platforms with low rates for unprotected risk
- Platforms which are desperate based on their postings here
- Anything else that is not RS, FC or Zopa
I have dabbled in many others but am sticking with the three least likely to fail
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Jan 9, 2016 19:04:35 GMT
I have no idea who, but I am avoiding the following - Platforms paying an exceptionally high introductory bonus. - Platforms not Uk based - Platforms with negligable deal flow and a tiny overall size - Platforms which are complicated - Platforms with low rates for unprotected risk- Platforms which are desperate based on their postings here - Anything else that is not RS, FC or Zopa I have dabbled in many others but am sticking with the three least likely to fail And I am avoiding RS and Zopa because the low rate of interest does not justify the risk of a non-FSCS investment (I got 1.3% on RS market rate recently!). I see no obvious reason why established platforms should fail (fraud aside) as the risks are taken by the lenders. And with all respect to westonkev he is hardly unbiased.
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Post by Financial Thing on Jan 9, 2016 19:06:58 GMT
And I am avoiding RS and Zopa because the low rate of interest does not justify the risk of a non-FSCS investment (I got 1.3% on RS market rate recently!). I have never used FC; maybe I should check it out. I see no obvious reason why established platforms should fail (fraud aside) as the risks are taken by the lenders. They fail over the long run because they don't make enough profit to sustain them as a business. Same as why the individual loans default.
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adrianc
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Post by adrianc on Jan 9, 2016 19:12:20 GMT
I'm sure some inside the industry could make educated guesses, and stand a fair chance of being right. Any obvious suspects, Kev? <mischeviously> And, no, I know you can't name 'em, but main list or "more sites" list...?
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james
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Post by james on Jan 10, 2016 4:37:58 GMT
Just start with those having no discussion here, or purely negative discussion here. A sign that they may lack distinguishing attractive features that could lead to them building a sustainable business. Not featuring on tables of amount lent each month or consistently doing so with low amounts would be another clue. While participants here are not normal that's in part because of unusually large amounts to invest, hence greater than average interest in what's happening and potentially of interest.
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p2pmaster
investment is life.
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Post by p2pmaster on Jan 10, 2016 8:17:07 GMT
davee39, thanks for a list. i have two questions for you: 1) why no uk platforms (currency risk?) 2) what do you perceive as a low rate for unprotected risk?
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JamesFrance
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Port Grimaud 1974
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Post by JamesFrance on Jan 10, 2016 9:09:31 GMT
Personally I am very suspicious of any business which is burning cash at a great rate and making a mad dash for growth. The owners may be prepared to risk everything for the possibility of becoming multi millionaires, but I would prefer not to have my money put at high risk while we wait to see which way it goes. I will be watching any platform with a high burn rate which is not achieving the large increase in business necessary to support the escalating staff salary costs.
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Post by davee39 on Jan 10, 2016 15:21:29 GMT
davee39, thanks for a list. i have two questions for you: 1) why no uk platforms (currency risk?) 2) what do you perceive as a low rate for unprotected risk? Non Uk - the likes of Bondora, started off with lots of enthusiasm here but has since gone sour, plus as you mention, currency risk and costs for sterling investors. The low rate higher risk platform I was thinking of is Wellesley, I would rather get similar rates from RS than take a risk on property. I am also unimpressed by the offers of special rates to keep money from the bigger lenders.
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Post by Financial Thing on Jan 10, 2016 15:56:27 GMT
davee39, thanks for a list. i have two questions for you: 1) why no uk platforms (currency risk?) 2) what do you perceive as a low rate for unprotected risk? The low rate higher risk platform I was thinking of is Wellesley, I would rather get similar rates from RS than take a risk on property. I am also unimpressed by the offers of special rates to keep money from the bigger lenders. So you think mainly unsecured loans from RS offer less risk than secured property loans on W?
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adrianc
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Post by adrianc on Jan 10, 2016 21:46:53 GMT
The low rate higher risk platform I was thinking of is Wellesley, I would rather get similar rates from RS than take a risk on property. I am also unimpressed by the offers of special rates to keep money from the bigger lenders. So you think mainly unsecured loans from RS offer less risk than secured property loans on W? Hmm. RS PF vs property security...? Mind you, if we're going for property-security, then there's always SS...
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pikestaff
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Post by pikestaff on Jan 10, 2016 23:44:25 GMT
And I am avoiding RS and Zopa because the low rate of interest does not justify the risk of a non-FSCS investment (I got 1.3% on RS market rate recently!). I see no obvious reason why established platforms should fail (fraud aside) as the risks are taken by the lenders. And with all respect to westonkev he is hardly unbiased. You got 1.3% once. It was an extreme outlier on the monthly market. To reject RS because of that is utterly irrational IMO. RS is one of the few platforms I trust. But, as I said elsewhere, each to his own. Other platforms will fail if they cannot cover their costs (and have no sugar daddy investors to pick up the losses) or if they suffer a catastrophic loss of confidence for some reason. And I don't discount the risk of fraud. PS: I "liked" optionstrader's last post above by mistake but can't find an undo button. I meant to like davee99's post.  Edit: A kind person told me how to do it. Just click the "like" button again. Doh!
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adrianc
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Post by adrianc on Jan 11, 2016 8:23:46 GMT
You got 1.3% once. It was an extreme outlier on the monthly market. To reject RS because of that is utterly irrational IMO. And, at the end of the day, LOL got 1.3% because she asked to place her money at 1.3%. It might not have been wittingly, but the request for a match at that rate was in her control and her control alone... I don't use Autobodge on FC, and I don't use MarketRate on RS - for exactly the same reasons. I might get something I don't really want, and I'm happy to spend the little bit of time to retain that control.
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Edit: A kind person told me how to do it. Just click the "like" button again. Doh!