JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323 
Likes: 897
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Post by JamesFrance on Oct 18, 2017 6:41:07 GMT
Their disastrous experiments with our money in Spain and Slovakia ended their ambition to operate across the whole of the EU. Yet still they spin and spin about how successful they are. A dose of honesty and reality would be more appropriate.
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Post by coolrunning on Nov 9, 2017 11:33:48 GMT
Today's "news": Recovery ratesCan anyone please explain how these figures are calculated? They are far away from my experience, but I imagine that there is an underlying logic. |
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Post by Butch Cassidy on Nov 9, 2017 11:52:12 GMT
Simply FAKE NEWS, even considering the most generous Bondora calculation i.e. only taking the missing payments (so far) after the default date & applying any recovery to this smaller total, along with rolling all late payers into the default class even though they are still paying, albeit late, it would be impossible to achieve a 47% recovery IMO. My own estimate was & still is low single figures % & nothing has changed in my own account or Bondora's approach to alter that assessment.
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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 Nov 9, 2017 12:05:31 GMT
It looks to me as if they are applying any repayments to the balance of the loan and costs are being set against outstanding interest. Those that repay under duress may give us full recovery of capital but will never pay us any interest as that will be used to pay the bailiffs and DCAs.
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shimself
Member of DD Central
Posts: 2,563
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Post by shimself on Nov 9, 2017 15:43:21 GMT
My experience in round terms
"loan principal" on platform (as if) 2300
loan principal which isn't overdue they say (after heavy duty remassaging worthy of a Shanghai brothel) (so I've heard) 1400
actual repayments and late fees in last 12 months 163. ie 9% of the loan principal "not overdue".
My figure then for loans which might still earn me some money is about 2x163, call it 320
Difference between deposits and repayments so far is (-1000€).
result loss 700. It could have been a lot worse.
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Post by moneymakingmoney on Nov 10, 2017 0:20:01 GMT
My experience in round terms "loan principal" on platform (as if) 2300 loan principal which isn't overdue they say (after heavy duty remassaging worthy of a Shanghai brothel) (so I've heard) 1400 actual repayments and late fees in last 12 months 163. ie 9% of the loan principal " not overdue". My figure then for loans which might still earn me some money is about 2x163, call it 320 Difference between deposits and repayments so far is (-1000€). result loss 700. It could have been a lot worse. damn that's sad news, how long have you been using bondora? I'm sure some people had profits under the old model.
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shimself
Member of DD Central
Posts: 2,563
Likes: 1,171
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Post by shimself on Nov 10, 2017 15:33:51 GMT
My experience in round terms "loan principal" on platform (as if) 2300 loan principal which isn't overdue they say (after heavy duty remassaging worthy of a Shanghai brothel) (so I've heard) 1400 actual repayments and late fees in last 12 months 163. ie 9% of the loan principal " not overdue". My figure then for loans which might still earn me some money is about 2x163, call it 320 Difference between deposits and repayments so far is (-1000€). result loss 700. It could have been a lot worse. damn that's sad news, how long have you been using bondora? I'm sure some people had profits under the old model. I pulled out as best I could um, a few years ago. Well yes I thought I was doing ok for a while before the awful truth of how they managed to keep calling delinquent loans good loans became clear
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Post by moneymakingmoney on Nov 11, 2017 3:13:49 GMT
damn that's sad news, how long have you been using bondora? I'm sure some people had profits under the old model. I pulled out as best I could um, a few years ago. Well yes I thought I was doing ok for a while before the awful truth of how they managed to keep calling delinquent loans good loans became clear good thing I never came past my test of 40 euros. I think including my 5 euro bonus I won't get out too badly.
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Post by coolrunning on Nov 11, 2017 7:43:21 GMT
Today's "news": Recovery ratesCan anyone please explain how these figures are calculated? They are far away from my experience, but I imagine that there is an underlying logic. Leaving aside all the fully justified horror stories, I wonder if anyone can explain HOW Bondora comes up with their recovery figures? Usually they have a devious (and wildly optimistic) way to calculate their 'statistics'
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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 Nov 11, 2017 8:59:10 GMT
I think they take the total amount recovered from a default and divide it by the amount of unpaid scheduled loan repayments. Therefore in the rare case of a loan 10€ late being repaid 100€, maybe fully paid off, they would show a 1000% recovery rate. The other 9 loans paying nothing would be set against that one to show an average of 100% for that month.
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Post by rahafoorum on Nov 16, 2017 15:41:45 GMT
Today's "news": Recovery ratesCan anyone please explain how these figures are calculated? They are far away from my experience, but I imagine that there is an underlying logic. Leaving aside all the fully justified horror stories, I wonder if anyone can explain HOW Bondora comes up with their recovery figures? Usually they have a devious (and wildly optimistic) way to calculate their 'statistics' Haven't bothered checking lately, but in their blog analyses they used to implement the same methodology they used within XIRR. Defaulted amount is only the principal that has gone past due according to the original schedule that is legally void after default. Recovery is anything that is recovered. In short, a €1000 loan goes into default, the defaulted amount is then essentially something like €10. If €100 is recovered, recovery rate is €100 / €10 = 1000%. Of course, if no further recovery happens, the recovery rate keeps dropping.
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