Sr. Lobo
Member of DD Central
Posts: 63 
Likes: 17
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Post by Sr. Lobo on Sept 19, 2016 20:22:55 GMT
There must be some problem with the July data in the cash flow. Looking at my investments write-off data it seems there is only few euros stol... "disappeared" from interest of long good payment history borrowers.
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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 20, 2016 6:36:46 GMT
I think that in July they took money they forgot to take before. You used to get all the repayments from defaults but it seems that you only get about half now and they give the rest to DCAs or bailiffs even for loans which were repaying before they changed the system to outsource debt collection. Instead of it being a cost to Bondora it is now paid by us.
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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 29, 2016 14:33:29 GMT
The DCA costs seem to have been removed from the write off columns which have stayed blank this month. They are still there of course but you have to dig deep to see them in the individual loan details.
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Post by Butch Cassidy on Sept 29, 2016 14:54:47 GMT
The DCA costs seem to have been removed from the write off columns which have stayed blank this month. They are still there of course but you have to dig deep to see them in the individual loan details. I do hope that you are not suggesting that Bondora are manipulating/hiding the figures to appear better than they are in reality, as that really would be deceitful & wrong 
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Post by oktaeder on Sept 29, 2016 15:33:44 GMT
Even if I don't like what I see it's all written in cashflow:
september
interests 400€
write off 90€
debt servicing costs 230€ (all paid from interest)
seems that half of my income went to dca.
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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 29, 2016 16:04:54 GMT
My write-off columns show 0 for September and also in the graph, but the loans with repayments show amounts for Debt Servicing Cost which does not show in the totals.
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Post by rahafoorum on Sept 29, 2016 17:25:47 GMT
Cash flow is not showing correct figures for debt servicing fees. Only daily view showed values, rest probably have to be regenerated before they show actual figures.
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Post by tiberius on Oct 13, 2016 9:47:20 GMT
My write-off columns show 0 for September and also in the graph, but the loans with repayments show amounts for Debt Servicing Cost which does not show in the totals. Hey! Maybe this is not the right place to ask but what it the Debt Servicing Cost? A couple of hours ago I looked deeper into my bondora stats and.. I am still aghast at the data I am uncovering..
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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 Oct 13, 2016 10:03:45 GMT
It should be the DCA charges we are now expected to pay for, but who knows with Bondora. It will probably appear somewhere else next month under another name. Lots of info but maximum confusion so I have long given up.
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Post by tiberius on Oct 13, 2016 10:23:22 GMT
Pff.. I'm devastated.. I should never have invested in Bondora: working my ass off doing a part time job in college, having no free time for myself whatsoever, saving every penny I can avoiding heating my house, eating the cheapest food, and not going out, for this - to squander my money on someone else.
Well, there is no point in whining about it now.. time to look at the future: what do you think are my options?
Sorry for the rant, guys. If you could point me in the right direction, regarding what I should do next, I'd very much appreciate it.
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parisingoc
Member of DD Central
Posts: 87
Likes: 25
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Post by parisingoc on Oct 13, 2016 11:28:19 GMT
Pff.. I'm devastated.. I should never have invested in Bondora: working my ass off doing a part time job in college, having no free time for myself whatsoever, saving every penny I can avoiding heating my house, eating the cheapest food, and not going out, for this - to squander my money on someone else. Well, there is no point in whining about it now.. time to look at the future: what do you think are my options? Sorry for the rant, guys. If you could point me in the right direction, regarding what I should do next, I'd very much appreciate it. Run Away!! I am running, but trying to maintain a decorous demeanour. I am about 60% through repatriating all my funds, mainly by letting the performant loans run through to their natural end whilst savagely getting rid of any defaulted loans (of which there are many!) that show no signs of paying. I reckon that, after starting with Bondora over 3 years ago and ramping up to 12k Euro, I might just get away with not losing anything, fingers crossed.
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Post by tiberius on Oct 13, 2016 11:59:59 GMT
Run Away!! I am running, but trying to maintain a decorous demeanour. I am about 60% through repatriating all my funds, mainly by letting the performant loans run through to their natural end whilst savagely getting rid of any defaulted loans (of which there are many!) that show no signs of paying. I reckon that, after starting with Bondora over 3 years ago and ramping up to 12k Euro, I might just get away with not losing anything, fingers crossed. Seems like good advice to me! 12k is a lot of money to have invested on Bondora.. I'm sorry it turned out so bad for you. Did you start small? Was it a better platform 3 years ago? I started investing in February 2016, should I keep some of my current loans or should I try to sell these first? By "savagely getting rid" of the defaulted loans do you mean selling them at >50% discount? Is there any other p2p platform that actually makes you money? Thanks for taking the time to answer and good luck on luck with your 'organised retreat'!
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parisingoc
Member of DD Central
Posts: 87
Likes: 25
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Post by parisingoc on Oct 13, 2016 16:56:22 GMT
Seems like good advice to me! 12k is a lot of money to have invested on Bondora.. I'm sorry it turned out so bad for you. Did you start small? Was it a better platform 3 years ago? I started investing in February 2016, should I keep some of my current loans or should I try to sell these first? By "savagely getting rid" of the defaulted loans do you mean selling them at >50% discount? Is there any other p2p platform that actually makes you money? Thanks for taking the time to answer and good luck on luck with your 'organised retreat'! Taking your questions in order: I started with about £100, tested the waters and all looked good, then ramped up to £5000 over about 6 months. I then foolishly believed that the past was a good indicator of future performance and followed Bondora (then Isepankur) - into Finland, Spain and then - disaster of disasters - to Slovakia with another £5000. On reflection, each was a step further into murky waters. 3 Years ago it was just Estonia and those loans are still probably my best performing loans regarding both return and risk. Regarding how to let go of the tiger's tail, that's a tough call. I am guided by something I learned a long time ago, namely "Sunk cost is never an argument for further investment". Just because you liked them when you bought them, you are now dealing with a more known quantity, so use that more knowledgeable position to work with the data you have and if it now looks bad, do something about it! I am lucky enough to have had a career in IT that included setting up and developing a Data Mining team. So I re-learned that which I had once known and applied it and that was when I turned the corner. I have regularly sold my non-performing default loans for 90% discount. I am now down to c.300 defaulted loans, of which around 9% are still on sale. The rest are either performing or under my close scrutiny. I have a particular target to meet, so my money is now back in the UK, earning 12% headline (more in actual returns) over 4 platforms at the moment. The plan is under constant supervision (minimum 1 hour per day) and is running slightly ahead of schedule.
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Post by oktaeder on Oct 13, 2016 18:56:50 GMT
parisingoc I guess having made about 20% windfall profits € against stirling there will not be so a bad end for you.
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parisingoc
Member of DD Central
Posts: 87
Likes: 25
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Post by parisingoc on Oct 13, 2016 21:58:38 GMT
parisingoc I guess having made about 20% windfall profits € against stirling there will not be so a bad end for you. True. But it still galls me mightily to say that after all my efforts at careful loan selection, any potential profit is due only to the whims of the international currency markets!
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