morris
Member of DD Central
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Post by morris on Oct 13, 2016 11:47:28 GMT
My summary page shows losses of £91.76, and net earnings of £110.08. Is this to be expected?
Losses are coming in thick and fast now. What happens when my losses exceed my earnings, will FC refer me to their debt collectors?
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am
Posts: 1,495
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Post by am on Oct 13, 2016 12:01:06 GMT
My summary page shows losses of £91.76, and net earnings of £110.08. Is this to be expected? Losses are coming in thick and fast now. What happens when my losses exceed my earnings, will FC refer me to their debt collectors? It depends on what grade of loans you are lending to. For E grade loans those numbers don't seem out of the way. (For E grade loans there's a predicted net return of around 9%, compared to a headline interest rate of around 17%/_ [Net earnings are after taking losses into account, so you're still well short of losses exceeding gross earnings.]
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blender
Member of DD Central
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Post by blender on Oct 13, 2016 13:43:35 GMT
E loans are not available to the average FC lender, so that is unlikely. I have had a couple of D loans defaulted this week after a long gap. Your figures do not look good if properly diversified (100 loans) and purchasing on the primary market. Take care on the SM. One small consolation is that income tax will not be as high as a couple of years ago. There is nothing to stop losses exceeding net earnings, but they already have your cash.
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fp
Posts: 1,008
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Post by fp on Oct 13, 2016 18:01:50 GMT
My summary page shows losses of £91.76, and net earnings of £110.08. Is this to be expected? Losses are coming in thick and fast now. What happens when my losses exceed my earnings, will FC refer me to their debt collectors? I feel for you, that is very poor. There are lots of people around here who can give you some pointers on how to minimise your losses on FC, I got out after only two months, after seeing the amount of disgruntled investors on their own forum, and after taking a quick look on there a few days ago, it seems things have gotten far worse.
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