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Post by stanley on Apr 12, 2016 14:58:10 GMT
apx 50k in FC
1,300 losses
50 recovered
That's about a 4% recovery rate. NOT great is it.
How are the rest of you suffering.
FC won't be getting any more of my hard earned until they sort this (and other) significant issues. Other platforms are available, in use and much more alluring.
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markr
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Post by markr on Apr 12, 2016 15:14:15 GMT
How old are your loans, typically? Recoveries can take a loooooong time, a lot longer than the loan term. My recoveries are around 25% of bad debt at the moment.
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maxmarengo
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Post by maxmarengo on Apr 12, 2016 15:29:52 GMT
I have had my account 3 years and recoveries are about 13% of losses (though I have had a bad run of losses recently).
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min
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Post by min on Apr 12, 2016 15:38:53 GMT
I have had my account 3 years and recoveries are about 13% of losses (though I have had a bad run of losses recently). Been with Fanciful Crustaceans for nearly 5 years and recoveries slowly rising over time - now at 24.5%. ISTR that they published the average is 27%. Still means I've lost approx a quarter of my interest earnings in bad debt-recoveries. Thank goodness for cashback and sales earnings. Almost got all my dosh out 
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Post by takeshi on Apr 12, 2016 16:01:18 GMT
apx 50k in FC 1,300 losses 50 recovered That's about a 4% recovery rate. NOT great is it. ..... '50' fully recovered? 4% seems oddly low, are you not counting partial recoveries? - I have just over 30% recovered, and a number of bad debt accounts still making regular/sporadic payments. Seems fairly reasonable to me
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adrianc
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Post by adrianc on Apr 12, 2016 16:56:24 GMT
apx 50k in FC 1,300 losses 50 recovered That's about a 4% recovery rate. NOT great is it. How are the rest of you suffering. FC won't be getting any more of my hard earned until they sort this (and other) significant issues. Other platforms are available, in use and much more alluring. Defaults from May 15 to Jan 16, with most being late autumn/early winter. £136.51 loss, £6.60 recovery - just under 5%, with various payment plans allegedly in place. Not exactly startling but, given how recent they are, I think that's fairly decent. Rather than looking at individual factors, though, look at your total return - to date and predicted. AR 9.6%, GY 10.1%, XIRR 9.3% - I'm not unhappy, but I'm on a slow retreat from of FC, because I don't think that'll stay.
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am
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Post by am on Apr 12, 2016 22:45:52 GMT
apx 50k in FC 1,300 losses 50 recovered That's about a 4% recovery rate. NOT great is it. ..... '50' fully recovered? 4% seems oddly low, are you not counting partial recoveries? - I have just over 30% recovered, and a number of bad debt accounts still making regular/sporadic payments. Seems fairly reasonable to me I think that you should read that as losses of £1,300 and recoveries of £50. At a 1% diversification level that would be £500 per loan, so it's possible that those figures represent a small number of defaulted loans, which by bad luck happen to have a low recovery rate. If it turns out to be 50 defaulted loans and a 4% recovery rate, then one would suspect a young loan book, or a bad investment strategy. (But perhaps the extra interest on D/E loans would be worth those losses - on £50,000 E vs A+ is an extra £4,000 per annum.) My figures are £13,000/£30/£7. That's a combination of good luck, a portfolio of property and older A+/A loans, and a maximum of 0.5% of the portfolio in individual SME loans. So I don't have the stress of losses, but my net return at 9% (FC's calculation) may not be as high as some people's.
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Post by nightmare on Apr 13, 2016 11:34:50 GMT
In fairness you can't have a recovery without having first had a loss so your recovery percentage figure will always be distorted. It will (almost certainly) increase with time although probably to a figure which is still well below what most people would desire.
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blender
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Post by blender on Apr 13, 2016 11:43:05 GMT
My recoveries are 47.2%. But I have not had a loss for a long time, having given them up, and so this may be nearly as good as it gets.
(I was going to check the FC figure from the stats page, but the site has crashed).
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KoR_Wraith
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Post by KoR_Wraith on Apr 13, 2016 12:00:11 GMT
£2600 in losses, £360 (14%) recoveries, 7.5% annualised return. Missed the boat on flipping, having only discovered the technique 6 months ago. 2 year old loan book, maximum holding at 1% of total, the vast majority of losses came from my unfortunate newbie days as a blind autobidder; losses from personally selected loans underrepresented. I've been steadily unwinding from FC over the last 5 months, retaining a holding in selectively chosen E loans only.
Could certainly have achieved a much better AR if I knew then what I know now, but still better than 3% in the bank so not complaining too much!
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SteveT
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Post by SteveT on Apr 13, 2016 12:25:57 GMT
I sold the very last sell-able loans from my personal Faintly Comical account on Monday. It was once spiked well into 6 figures but now contains just £110 of 2 RBR loans (still paying) and £650 of Bad Debt loans, against which I've had £56 (8.7%) of recoveries to date. Not that I'm complaining though: net earnings from the "good times" amounted to £5,950 and my annualised return figure is 11.9%
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archie
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Post by archie on Apr 13, 2016 13:27:22 GMT
My recovery is around 27% after two years. Gradually reducing holdings. Preferred the site before they changed to the fixed % loans, bidding was fun  |
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dorset
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Post by dorset on Apr 13, 2016 15:56:07 GMT
You need to let things settle down Stanley as recoveries take an awful long time to come through.
I have been with Funny Contracts since 2011. I currently lend to 1548 businesses and have had to date 70 defaults. Of these 6 have seen full recovery and 5 have been completely written off. Overall my recovery rate is 27%.
Finally my currently outstanding default money represents 17.6% of the total interest earned to date.
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bigfoot12
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Post by bigfoot12 on Apr 13, 2016 19:09:17 GMT
If I look at my defaults older than a few months my recoveries number is 67%. But I think I have been lucky as one of my defaults is much bigger than the others and that one has had about 95% recovery.
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blender
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Post by blender on Apr 13, 2016 19:33:21 GMT
Recoveries just gone up to 47.6% this pm. But not statistically useful since only six defaults and remaining losses are just 2.4% of all time net earnings (nearly 4 years). RBRd 18755 could change all that forever.
Overall FC recoveries are at 21.8% (from the stats page recoveries divided by bad debt + recoveries). Because of the lag of recoveries and the growing loan book, the eventual recoveries are greatly understated by that number.
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