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Post by marthaskirta on Sept 15, 2016 6:58:24 GMT
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Post by gmaxkenny on Sept 15, 2016 9:14:11 GMT
This information does not warrant a new thread and seems also like marketing.
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Post by Butch Cassidy on Sept 15, 2016 10:11:17 GMT
What you fail to point out is that any recovery is not for the benefit of investors, I had a look at a couple of my defaults, as your figures look completely unrealistic at face value, obviously the vast majority have received nothing however;
Borrower: Peppi Est A1000 F - Always been a good payer, however often late but never fails to pay, should not even have been defaulted, contract signed before Bondora changed recovery rules
I have received E7.74 in total of which DCA have written off E2.63 so 34% of my recovery has been stolen away EVEN THOUGH I WAS CONTRACTUALLY ENTITLED TO IT
Borrower: Toretron, Est A600 HR - has had 2 recovery payments since getting into difficulties after approx. 18mths of paying, contract signed before Bondora changed recovery rules
I have received E1.46 in total of which DCA have written off E1.07 so 73% of my recovery has been stolen away EVEN THOUGH I WAS CONTRACTUALLY ENTITLED TO IT - you may as well wear a balaclava & carry a swag sack 
My portfolio may not be typical of the entire statistic pool but levels of recovery are nowhere near those headlined, any so called recovery is largely from borrowers who were paying anyway without any DCA intervention & now most of that income is being syphoned off my account, against my will & not in keeping with the contracts I signed at the time.
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Post by oktaeder on Sept 15, 2016 15:29:36 GMT
In the last 4 months there have been no 10€ recovery from my over 2300€ (principal) defaulted slovakian loans.
I can't laugh looking at your weired numbers.
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Post by marthaskirta on Sept 15, 2016 17:25:32 GMT
What you fail to point out is that any recovery is not for the benefit of investors, I had a look at a couple of my defaults, as your figures look completely unrealistic at face value, obviously the vast majority have received nothing however;
Borrower: Peppi Est A1000 F - Always been a good payer, however often late but never fails to pay, should not even have been defaulted, contract signed before Bondora changed recovery rules
I have received E7.74 in total of which DCA have written off E2.63 so 34% of my recovery has been stolen away EVEN THOUGH I WAS CONTRACTUALLY ENTITLED TO IT
Borrower: Toretron, Est A600 HR - has had 2 recovery payments since getting into difficulties after approx. 18mths of paying, contract signed before Bondora changed recovery rules
I have received E1.46 in total of which DCA have written off E1.07 so 73% of my recovery has been stolen away EVEN THOUGH I WAS CONTRACTUALLY ENTITLED TO IT - you may as well wear a balaclava & carry a swag sack
My portfolio may not be typical of the entire statistic pool but levels of recovery are nowhere near those headlined, any so called recovery is largely from borrowers who were paying anyway without any DCA intervention & now most of that income is being syphoned off my account, against my will & not in keeping with the contracts I signed at the time. Hello! Although we have explained why the changes were made to our recovery and collection process, I understand that you have a different opinion on this and I respect that. Only two explanations - 1) Recovery numbers do not include write-offs, meaning that numbers reflect only the actual cash flow the investors have received (not received + write off); 2) If you calculate the % of the partial write off from the respective payment then you have to calculate it from the gross cash flow, for example in case of the borrower Peppi you have to add together 7.74 + 2.63 and from the sum you can calculate the % of the specific write-off. From the amount you have received to your account (in this example 7.74) no cost are deducted.
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Post by Butch Cassidy on Sept 15, 2016 17:39:33 GMT
What you fail to point out is that any recovery is not for the benefit of investors, I had a look at a couple of my defaults, as your figures look completely unrealistic at face value, obviously the vast majority have received nothing however;
Borrower: Peppi Est A1000 F - Always been a good payer, however often late but never fails to pay, should not even have been defaulted, contract signed before Bondora changed recovery rules
I have received E7.74 in total of which DCA have written off E2.63 so 34% of my recovery has been stolen away EVEN THOUGH I WAS CONTRACTUALLY ENTITLED TO IT
Borrower: Toretron, Est A600 HR - has had 2 recovery payments since getting into difficulties after approx. 18mths of paying, contract signed before Bondora changed recovery rules
I have received E1.46 in total of which DCA have written off E1.07 so 73% of my recovery has been stolen away EVEN THOUGH I WAS CONTRACTUALLY ENTITLED TO IT - you may as well wear a balaclava & carry a swag sack
My portfolio may not be typical of the entire statistic pool but levels of recovery are nowhere near those headlined, any so called recovery is largely from borrowers who were paying anyway without any DCA intervention & now most of that income is being syphoned off my account, against my will & not in keeping with the contracts I signed at the time. Hello! Although we have explained why the changes were made to our recovery and collection process, I understand that you have a different opinion on this and I respect that. Only two explanations - 1) Recovery numbers do not include write-offs, meaning that numbers reflect only the actual cash flow the investors have received (not received + write off); 2) If you calculate the % of the partial write off from the respective payment then you have to calculate it from the gross cash flow, for example in case of the borrower Peppi you have to add together 7.74 + 2.63 and from the sum you can calculate the % of the specific write-off. From the amount you have received to your account (in this example 7.74) no cost are deducted. Whilst your calculation may reduce the % slightly it still doesn't explain why this borrower (Peppi) who always pays, albeit late, now has deductions AT ALL - I would much rather keep 100% of the income as before rather than 75% - there is no need for DCA intervention whatsoever in this case. Bondora are clearly using cases such as this to subsidise paying for DCA' s to chase cases where no recovery is ever possible, such as Slovakia & early Spanish loans.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323 
Likes: 897
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Post by JamesFrance on Sept 15, 2016 17:52:05 GMT
I find these weekly reminders of the dreadful default performance we have experienced with Bondora to be very annoying. Constantly trying to make things look better than reality with obscure calculations is insulting to investor's intelligence.
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jay
Posts: 46
Likes: 18
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Post by jay on Sept 16, 2016 19:17:26 GMT
In the last 4 months there have been no 10€ recovery from my over 2300€ (principal) defaulted slovakian loans. I can't laugh looking at your weired numbers. Same here, and not just the last 4month. One slovakian borrow repaid me all, but all the others since the beggining ? No recovery at all. I am not laughing much either. No improvements on the spanish ones either. The recovery process publication is another of one of their numerous faery tales, full of illusions and light tricks.
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Post by rahafoorum on Sept 16, 2016 20:13:18 GMT
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323
Likes: 897
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Post by JamesFrance on Sept 17, 2016 9:45:58 GMT
Seems very different from the Bondora blog claims. I always worry about new investors who just see the presented information without reading all the small print.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323
Likes: 897
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Post by JamesFrance on Sept 19, 2016 9:44:28 GMT
My recent recoveries and write-offs are as follows:
Jun - Recovery 123.20€ - Write-off 4.42€
Jul - Recovery 72.95€ - Write-off 73.76€
Aug - Recovery 38.14€ - Write-off 30.77€
Sep - Recovery 23.98€ - Write-off 9.30€
Maybe there will be a little more this month but at this rate my 8159€ of defaulted loans will never be repaid, as this figure increases steadily every month and has increased by 3000€ during the last 12 months.
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Sr. Lobo
Member of DD Central
Posts: 63
Likes: 17
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Post by Sr. Lobo on Sept 19, 2016 17:48:03 GMT
My recent recoveries and write-offs are as follows: Jun - Recovery 123.20€ - Write-off 4.42€ Jul - Recovery 72.95€ - Write-off 73.76€ Aug - Recovery 38.14€ - Write-off 30.77€ Sep - Recovery 23.98€ - Write-off 9.30€ Maybe there will be a little more this month but at this rate my 8159€ of defaulted loans will never be repaid, as this figure increases steadily every month and has increased by 3000€ during the last 12 months. James Where can I see my write-off? Do they appear in the account transactions?
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323
Likes: 897
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Post by JamesFrance on Sept 19, 2016 17:57:18 GMT
If you open your cashflow page you can click on the settings icon at top right of the page. You can then select the write-off columns to be visible in the table.
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Post by rahafoorum on Sept 19, 2016 19:52:15 GMT
If you open your cashflow page you can click on the settings icon at top right of the page. You can then select the write-off columns to be visible in the table. You can also add these columns in your "investments" view, although that one for some reason has shown me €0 even for loans where there are writeoffs. Cash flow option seems to be more reliable.
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Sr. Lobo
Member of DD Central
Posts: 63
Likes: 17
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Post by Sr. Lobo on Sept 19, 2016 20:08:04 GMT
Thank you very much, both of you.
so in July I've got 90 of 150 planned interest and around 74 € write-off. The interest received is aligned with other months But received interest plus write-off exceed planned interest. So I think I don't understand what a write-off is... I thought that was a commission to the DCA detracted from the interests paid by the borrower. But that don't compute to me in July. Do they apply and additional fee to the borrower?
Other months the write-off amount is between 1and 2 euros.
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