pom
Member of DD Central
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Post by pom on Jan 13, 2018 12:01:59 GMT
An update went out a few days ago regarding the only loan I'm still in (S** M********** - thread further down the page) suggesting that they were going to force the sale of the security, but setting out an expectation that it might take circa three months. I'm not holding my breath. And I think that was 3 months to be able to get it on the market in the first place... A couple of mine are looking a bit more promising for partial eventual recovery...and another couple have bankrupt guarantors.
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TheDriver
Member of DD Central
Slightly bonkers
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Post by TheDriver on Apr 29, 2018 6:57:44 GMT
So, more than 3 months on has there been any progress/update on this?
I'm still suspicious of the Bad Debt figures which keeps reducing almost daily without any apparent recoveries. When another loss is declared they should increase by the reduction in Arrears, but some magic seems to reduce the reported impact. I know my portfolio looked a lot worse than the figures would lead you to expect, but the only way to get a true picture is to analyse the loan book.
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pom
Member of DD Central
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Post by pom on Apr 29, 2018 18:07:44 GMT
So, more than 3 months on has there been any progress/update on this? I'm still suspicious of the Bad Debt figures which keeps reducing almost daily without any apparent recoveries. When another loss is declared they should increase by the reduction in Arrears, but some magic seems to reduce the reported impact. I know my portfolio looked a lot worse than the figures would lead you to expect, but the only way to get a true picture is to analyse the loan book. Errrm... I seem to recall reports of progress that I filed under "yeah right, whenever...". Think it was something like yeah they can move forward but will take x months before they can progress even further
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Post by laidbackgjr on May 8, 2018 11:33:55 GMT
Well the first 'recoveries' I've received are now on my account - the T**** L**** S****** loans which were turned into losses on the 3rd May 2018 have had the first recoveries posted - supposedly a 2 year repayment plan in place - so here's hoping, would be nice to start to see some other recoveries as certainly on some of the loans the comment updates still provide hope of some level of recovery - but nothing seen so far.
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Post by Butch Cassidy on Jul 10, 2018 9:34:34 GMT
Good News Update: Dia***tic So**r who specialise in medical and industrial ultrasonics, borrowed £26k over 12 months & defaulted after 6 payments - borrower has just repaid c.75% of outstanding capital.
LC certainly appear to have turned a corner & are moving in the right directions, especially on origination, but if recoveries also improve they will become a viable alternative platform to FC & AC for SME lending.
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elliotn
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Post by elliotn on Jul 10, 2018 18:31:31 GMT
Good News Update: Dia***tic So**r who specialise in medical and industrial ultrasonics, borrowed £26k over 12 months & defaulted after 6 payments - borrower has just repaid c.75% of outstanding capital.
LC certainly appear to have turned a corner & are moving in the right directions, especially on origination, but if recoveries also improve they will become a viable alternative platform to FC & AC for SME lending. I’ve just dabbled after following a loan over from TC; have you looked at Crowd2Fund, has several credible SMEs which I looked at afterwards and was pretty impressed with.
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