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Post by harvey on May 29, 2016 21:28:52 GMT
Thought I'd try a poll to see if confidence in SS remains high or if you guys will be making any changes in your SS investment strategies as a result of this 2nd defaulted PBL.
(Apologies to forum moderators if this is inappropriate and no offence will be taken if it is deleted.)
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on May 29, 2016 21:33:10 GMT
Big fat not from me.
Defaults are inevitable, and should be expected. If an investor is concerned because the platform has a single default, then that investor shouldn't be investing in the P2P market. If defaults were a regular occurrence, then you should be concerned...
It's SS communications that concern me ATM; not the default.
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Post by earthbound on May 29, 2016 21:36:26 GMT
Sky high... go to FS if you wanna see rubbish loans and rubbish comms , and of course no interest up front.
edit.. i could go on....
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sam i am
Member of DD Central
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Post by sam i am on May 29, 2016 21:40:47 GMT
I'm the third vote. No concerns from me at this stage. I'm lucky not to have been holding that particular loan which helps my point of view but some defaults are to be expected with P2P. More important is how the recovery is handled and whether this is the start of a trend.
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Post by dodgeydave on May 29, 2016 23:43:05 GMT
Big fat not from me. Defaults are inevitable, and should be expected. If an investor is concerned because the platform has a single default, then that investor shouldn't be investing in the P2P market. If defaults were a regular occurrence, then you should be concerned... It's SS communications that concern me ATM; not the default. I am in agreement. Sadly the communications have broken down. That in its self is not a good sign
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mikes1531
Member of DD Central
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Post by mikes1531 on May 30, 2016 2:11:47 GMT
I'm the third vote. No concerns from me at this stage. I'm lucky not to have been holding that particular loan which helps my point of view but some defaults are to be expected with P2P. More important is how the recovery is handled and whether this is the start of a trend. That is similar to my position. Defaults in high-risk lending are inevitable, so I'm not concerned about having one. The critical thing is how SS handle it, how long it takes to resolve, whether there's a loss (and, if so, how big it is and how the PF reacts), etc. And, of course, whether there are more queueing up to happen.
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freddy
Member of DD Central
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Post by freddy on May 30, 2016 2:33:12 GMT
I'm also not overly concerned. I'm interested to see how it all pans out and particularly how the provision fund is utilised (if reqd).
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Post by brokenbiscuits on May 30, 2016 9:11:26 GMT
No change for me.
A loan showing at -150 days would never be in my portfolio and so a similar future scenario to pbl20 going into default will never affect me.
Now if we start to see loans very recently pre funded going into default then I may be a bit more concerned. I still wouldn't panic on one default though, as I'm heavily diversified.
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ben
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Post by ben on May 30, 2016 9:21:01 GMT
Personally not concerened at all. Sites have plenty of defualts etc they are expected, a few of these posts are probably showing who has invested more into SS then they ever were comftable with holding to the end and are now getting worrried if they will be able to carry on selling it all on the secondary market in the future like they have been doing. People seem to think the secondary market would always be as liquid as it is now and this has got people worried that it might not be and a few are starting to worry.
They only thing I would have prefered was a bit more information in the email rather then an oh by the way this one is now in default along with all the other updates.
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Post by ladywhitenap on May 30, 2016 9:25:22 GMT
My understanding (could be wrong!) is that borrowers pay interest up front (or it is deducted from the principal) and the first indication of potential defaults would be when the repayment date passes with out there being any suggestion of extension.
I also believe the way SS show negative days to repayment are based on the original loan term and do not take into account extensions that also have interest paid up front.
Lenders who are worried by this sort of thing should consider selling out on the SM when the time to run approaches single (positive) digits.
LW
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Post by savingstream on May 30, 2016 9:27:12 GMT
Big fat not from me. Defaults are inevitable, and should be expected. If an investor is concerned because the platform has a single default, then that investor shouldn't be investing in the P2P market. If defaults were a regular occurrence, then you should be concerned... It's SS communications that concern me ATM; not the default. I am in agreement. Sadly the communications have broken down. That in its self is not a good sign Dodgydave - Sorry have we offended you? Our comms are running normally. If you have a problem with our platform, feel free to contact us directly and we will respond when we can.
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Post by ladywhitenap on May 30, 2016 9:34:57 GMT
So SS, did you send us all a message about the failure of PBL101/102 to go live on Saturday that we all missed by any chance?
This is an example of what some members mean about "communications breaking down".
All it needed sometime on Saturday when you decided that these loans would not take off as expected is to just tell us why and when the revised go live was planned.
LW
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Post by dodgeydave on May 30, 2016 9:43:25 GMT
I am in agreement. Sadly the communications have broken down. That in its self is not a good sign Dodgydave - Sorry have we offended you? Our comms are running normally. If you have a problem with our platform, feel free to contact us directly and we will respond when we can. Thank you for the reply. It is general communications that is lacking. As someone else has said a short email saying 101/102 has been delayed because of abc. How do you see loan 20 playing out. Thankfully i was out of that a long time ago. But it might still effect me The on going saga of Hull ? All little points. I still have faith but am a little concerned
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jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,806
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Post by jonno on May 30, 2016 10:10:50 GMT
I am in agreement. Sadly the communications have broken down. That in its self is not a good sign Dodgydave - Sorry have we offended you? Our comms are running normally. If you have a problem with our platform, feel free to contact us directly and we will respond when we can. Jeez guys; you'd have been better off keeping shtum than sending out this piece of offensive nonsense 
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Post by hazzo on May 30, 2016 10:17:34 GMT
So SS, did you send us all a message about the failure of PBL101/102 to go live on Saturday that we all missed by any chance? This is an example of what some members mean about "communications breaking down". All it needed sometime on Saturday when you decided that these loans would not take off as expected is to just tell us why and when the revised go live was planned. LW In my opinion SS is up there with the v best platforms, so its a shame that the simple updates that would reassure us punters are out of date or just missing. I have no issue with default loans.....just part of the game!!
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