littleoldlady
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Post by littleoldlady on Oct 19, 2016 16:40:39 GMT
Now that SS is having to chase loans - and in the longer term investors - much harder, I am wondering whether they regret expanding to bigger offices and taking on lots of extra staff. Are they at risk of going under? And is this why nush just sold his whole £110K portfolio? (p.s. I already tried to create this thread, but it didn't seem to work....sorry if I ended up creating it twice.) Assuming all the staff are already busy then IMO they could do with even one more member charged with communicating with lenders - not only on this forum but by email to all of us.
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ablender
Member of DD Central
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Post by ablender on Oct 19, 2016 17:13:17 GMT
Did I hear SS saying that they have a new guy for communication somewhere in this forum?
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blata
Posts: 77
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Post by blata on Oct 19, 2016 18:07:00 GMT
Yes I am optimistic and always have been, Yes I say positive things because I am making a few pounds here and there but to troll through posts to find a point borders on the need to find something better to do.
I can understand peoples views about putting the good with the bad and if I have upset a couple of people I apologise.
I will go back to my unimportant life as I apparently have no significance here as I do not post enough.
There are a couple of forum members who I respect and are knowledgable
Good Luck
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fp
Posts: 1,008
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Post by fp on Oct 19, 2016 18:10:14 GMT
Don't be too harsh with the 'doom merchants'. If, like me, some of them rely on their savings for an income and are victims of the Government's economic policies I can understand them being ultra cautious. Probably not a bad thing to be in the current climate. I always say a little prayer when I invest my money with anyone!! If I was being ultra cautious, my money would be in a bank or building society.... I suggest anyone else investing in P2P who wants to be ultra cautious reviews their investing habits accordingly!
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Oct 19, 2016 18:11:33 GMT
Did I hear SS saying that they have a new guy for communication somewhere in this forum? If so there is little sign of any activity on his part so far.
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oldgrumpy
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Post by oldgrumpy on Oct 19, 2016 18:17:15 GMT
Yes I am optimistic and always have been, Yes I say positive things because I am making a few pounds here and there but to troll through posts to find a point borders on the need to find something better to do. I can understand peoples views about putting the good with the bad and if I have upset a couple of people I apologise. I will go back to my unimportant life as I apparently have no significance here as I do not post enough. There are a couple of forum members who I respect and are knowledgable Good Luck Significant enough to get three "likes" on your earlier post. You haven't been here long. Please don't join the list of "perpetually offended" so soon.  PS. I too have been on SS for quite a long time. I too have lost £0.00 over that period.
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poppyland
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Post by poppyland on Oct 19, 2016 19:20:03 GMT
Here's a question for everyone.....if you had an extra 25k to invest for a few months, but wanted to get it out again in, say, December, where would you put it? Do you think SS is still a safe haven?
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ben
Posts: 2,020
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Post by ben on Oct 19, 2016 19:24:49 GMT
Personally I would put it in the bank. If you need it back in about 2 months. At SS interest rates thats about £500 before tax, is it really worth the risk if you actually need the money for something in December.
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jcb208
Member of DD Central
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Post by jcb208 on Oct 19, 2016 20:29:17 GMT
Savingstream now have 26 negative day loans (27 tomorrow) plus a default on the books, surely they need to get some repayments in soon to aid cash flow unless interest is being paid and not been updated on the loan page. I think a lot of people will start to think twice about future investments If all they see a high percentage of negative loans listed for sale.I know at the moment they are easy to sell (god knows why I wouldn't touch them due to the higher default risk) but this may well change
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Post by Deleted on Oct 19, 2016 20:31:09 GMT
Personally I would put it in the bank. If you need it back in about 2 months. At SS interest rates thats about £500 before tax, is it really worth the risk if you actually need the money for something in December. Put 25k in a Bank for a few months  . Anyone serious about P2P should be able to find somewhere to put 25k for a few of months, plenty of liquid places, including SS if you can invest it in some of the longer dated loans.
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ben
Posts: 2,020
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Post by ben on Oct 19, 2016 20:48:18 GMT
Personally I would put it in the bank. If you need it back in about 2 months. At SS interest rates thats about £500 before tax, is it really worth the risk if you actually need the money for something in December. Put 25k in a Bank for a few months . Anyone serious about P2P should be able to find somewhere to put 25k for a few of months, plenty of liquid places, including SS if you can invest it in some of the longer dated loans. There is plenty of places I could dump that amount for 2 months and be fairly confident of getting it out but none I would do if I needed the money for something else in 2 months time the amount of extra money would not be worth the risk.
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littleoldlady
Member of DD Central
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Post by littleoldlady on Oct 19, 2016 20:53:28 GMT
Here's a question for everyone.....if you had an extra 25k to invest for a few months, but wanted to get it out again in, say, December, where would you put it? Do you think SS is still a safe haven? Change that to needed and the answer is different.
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Post by dualinvestor on Oct 20, 2016 6:46:35 GMT
Here's a question for everyone.....if you had an extra 25k to invest for a few months, but wanted to get it out again in, say, December, where would you put it? Do you think SS is still a safe haven? Putting it in pure gambling terms you are taking odds of 50/1 ON (max £500 return on a "stake" of £25000) that there will not be a serius problem preventing you getting your money back when you want it, and tha assumes that you can invest it on the day you put it in. That return will be subject to your highest marginal rate of income tax, reducing the return to potentially 66/1 ON The question to argue is whether that is a risk/reward ratio you are prepared to take?
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poppyland
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Post by poppyland on Oct 20, 2016 7:45:40 GMT
Hey everyone - thanks for the advice. I don't absolutely need the money out in December, so will go ahead and put it with SS if I can. Also MT and FS perhaps.
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Post by Deleted on Oct 20, 2016 7:47:25 GMT
Liquidity on the SS SM is very high at present, so you would sell your loans in minutes with very little problems.
Unfortunately things might change and nobody can predict how they will be in December. Consider the importance of the exact date for withdrawal and take a decision on that basis.
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