min
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Post by min on Feb 27, 2014 18:04:33 GMT
2 more zombie loans been defaulted today although they are making some payments (albeit reduced).
One is cars that run on tracks and are not heavy (1017). The other is 1225 High Prof..... Rest..... in W... End.
My amount lent has decreased accordingly (£30.57+£11.83) BUT the number of companies I am currently lending to remains unchanged.
Is this normal? Is this the way it should be done?
Also noticed (but not double checked if true) is that when recovery payments are received the amount outstanding doesn't change/reduce.
I am getting very confused.
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oldgrumpy
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Post by oldgrumpy on Feb 27, 2014 18:25:36 GMT
On your My summary page there is an All time earnings, with a losses button to expand. The bad debt figure will include those two defaults (I got the restaurant too, and my default has gone up by £23.63 today). The recoveries, when they come (let's be optimistic) are recorded there, but the default loss never goes down.
I think.
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agent69
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Post by agent69 on Feb 27, 2014 18:58:21 GMT
I've got the same £11.83 in the Italian place.
Looks like we may get a bit back but going to be a slow process.
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Post by bracknellboy on Feb 27, 2014 20:09:40 GMT
I've got the same £11.83 in the Italian place. Multiply that by about 13x for me. Should have known better.....They have been making reasonable payments since it went belly up, but I will work on the premise that FCs expectatoin that it will be a full recovery is a tad optimistic.
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Post by bracknellboy on Feb 27, 2014 21:11:38 GMT
An interesting foot note (maybe). The act of converting zombie loans to defaults hits the headline dashboard "Annualised Net Return". Obviously, since it moves the outstanding principal to a 'loss'. With the 2 that have been done today that I hold that number has dropped by 0.4% (absolute) for me. Not that I take any notice of that number.
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Post by GSV3MIaC on Feb 27, 2014 22:35:31 GMT
Interesting, that's the only number I do take any notice of .. well OK, I actually use my own calculated version, in which zombies have already been noted as dead, and where the return is calculated either on the amount I have invested or the amount placed with FC, whether invested or resting, but still the actual return is the only one that counts as far as I am concerned,
The other dashboard numbers are even less interesting - the first one assumes compounding at the current gross rate is possible and happens, oh, and that you hold the loans to maturity (or replace them with identical yielding loans .. the latter I guess) and the last one assumes all of that, as well as assuming defaults happen as FC predicts. Flying pigs are commonplace by comparison ..
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Post by bracknellboy on Feb 28, 2014 6:51:46 GMT
Interesting, that's the only number I do take any notice of .. well OK, I actually use my own calculated version.. quite. e.g. Taking account of tax treatment, not including long gone promotions, including zombies, etc. etc.
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mikeb
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Post by mikeb on Feb 28, 2014 18:33:36 GMT
On your My summary page there is an All time earnings, with a losses button to expand. The bad debt figure will include those two defaults (I got the restaurant too, and my default has gone up by £23.63 today). The recoveries, when they come (let's be optimistic) are recorded there, but the default loss never goes down. I think. That's absolutely correct, I monitor the "Bad Debt"/"Recovered" pair to see if anything's happened with new ones going bad/bad ones getting paid back, and record the "last seen" figures so I can compare day to day. Then go hunting for the reason for the difference. For loans that are ontime/late/downgraded ONLY, the incoming payments come off the "Exposure" in the loan comments, and are treated as Prinicipal/Interest payments on statement as per normal. Once a loan goes to Default, the exposure remains frozen, the entire balance left is thrown onto "Bad Debt" total (which only ever increases), and anything coming in is thrown onto "Recovery" total (which also only ever increases), with the statement showing "Recovery payment" as the reason, it's not split as interest/principal any more.
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wysiati
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Post by wysiati on Feb 28, 2014 19:13:12 GMT
The other is 1225 High Prof..... Rest..... in W... End. Do you mean 1255 L***e I***y L*****d?
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min
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Post by min on Mar 2, 2014 10:55:08 GMT
The other is 1225 High Prof..... Rest..... in W... End. Do you mean 1255 L***e I***y L*****d? Indeed Slip of the finger - 1255 Conspicuous Eaterie between City of London and Westminster
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oldgrumpy
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Post by oldgrumpy on Mar 11, 2014 20:52:26 GMT
I see that after a year of wriggling the guarantor for Breath of Fresh U-NO-WOT is still doing his utmost not to honour his guarantee until he absolutely has to. He should be forced to pay all FC's expenses in "chasing" him. Then there's Crapper the Scrapper who is still intent on not repaying - while others have slapped CCJs on him (we are told) FC is still just making threatening noises. I wonder if there will be anything left. He should pay FC's expenses too! Two payments made between them!!!!! Pint time!!  |
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Post by bracknellboy on Mar 11, 2014 21:02:00 GMT
Pint time!! Ah, you've obviously finally found somewhere with Banana Beer on tap.
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oldgrumpy
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Post by oldgrumpy on Mar 11, 2014 23:40:52 GMT
No I haven't! It's Banks's tonight. (Wood's last Sunday, and hopefully a nice drop of Elsie Mo or Butty Bach on Thursday)  |
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mikeb
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Post by mikeb on Mar 12, 2014 18:29:50 GMT
On the plus side, a couple of the older 2-digit loans are now going to be feeling the force of the High Court Sheriffs, so there's some hope. About time, and let's hope for a bit of payback at last!
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