JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317 
Likes: 893
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Post by JamesFrance on Aug 24, 2016 15:03:25 GMT
Is anyone getting any default payments this month?
My 8083€ of defaulted loans have had only 10.91€ repaid so far instead of up to 100€ per month, i.e. about half the monthly increase in default total of around 200€.
Maybe DCAs are all on holiday or it is sitting in Bondora accounts while they are on holiday and will be distributed next month.
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duck
Member of DD Central
Posts: 2,569
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Post by duck on Aug 25, 2016 6:43:19 GMT
I've noticed a very slow month as well. Also noticed no 'new' defaulters making a first payment after default.
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yacop
Posts: 68
Likes: 42
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Post by yacop on Aug 25, 2016 7:38:55 GMT
I've noticed a very slow month as well. Also noticed no 'new' defaulters making a first payment after default. There was a remark from Bondora on Bondora Fellows that Bondora is working to improve data Transfer from DCA and that is why DCA/Bondora are withholding payments from Defaults.
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Post by marthaskirta on Aug 25, 2016 12:17:59 GMT
System is up and running again as of today. Sorry for the inconveniences.
Best!
Martha
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Post by kissmyjazz on Aug 25, 2016 12:32:33 GMT
So where are all the payments then that I was due meanwhile? Nothing yet has posted to my account.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
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Post by JamesFrance on Aug 25, 2016 13:43:16 GMT
My default principal received is up to 17€ and interest this month 46C. To go with that I have principal write off 1.79€ and interest write off 16.68€, so no improvement.
How can write off be more than recovery?
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Post by marthaskirta on Aug 25, 2016 15:10:22 GMT
Hi James. Most of the payments have not yet reached your account since the banking day is finished for today and the payments between different banks do not move before tomorrow. We expect everything to be finalized during tomorrow. So sorry for that!
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Post by jabardolas on Aug 25, 2016 15:28:07 GMT
So many emails per week and Bondora didn't think of letting us know that the payments from defaulted loans were on hold.
Or perhaps I missed it, but this sort of information is important to share.
Keep up with the good work.
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Post by oktaeder on Aug 30, 2016 12:04:04 GMT
My returns from defaulted loans in august are still the poorest since a year whilst sum of defaults is still increasing.
Repayments are going down since april. Coincidence? I don't think so.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
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Post by JamesFrance on Aug 30, 2016 14:19:35 GMT
Repayments from defaulters are maybe similar but much of it seems to be going to DCAs now so less for us. At this rate any recovery will take longer than I probably have left, especially as I saw that 3 year old loans which are merely overdue have recently been rescheduled for another 5 years, even though they have paid nothing this year.
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james
Posts: 2,205
Likes: 955
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Post by james on Aug 31, 2016 6:23:58 GMT
Repayments from defaulters are maybe similar but much of it seems to be going to DCAs now so less for us. At this rate any recovery will take longer than I probably have left, especially as I saw that 3 year old loans which are merely overdue have recently been rescheduled for another 5 years, even though they have paid nothing this year. That should increase your Bondora calculation method returns. It will now take five years for all payments to come due and be recognised as not happening instead of three. More time is OK if there is a real plan that will make payment possible or if there are no assets to take after court action. Maybe also if the cost of collection is lower than the balance remaining, except that borrowers may share this information. Maybe if a person has lost their job or is in hospital and unable to work. Both likely to be recovered in a bit of time with payments resuming.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
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Post by JamesFrance on Sept 7, 2016 9:20:02 GMT
So far there is no improvement in September during the first week.
My over 8000€ of defaulted loans (mainly included by Bondora as profit on the dashboard) have had recovery of 4.5€ so far and 2.3€ has been written off.
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ders
Posts: 15
Likes: 5
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Post by ders on Sept 7, 2016 11:14:30 GMT
that 35% loss will be new rule soon
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