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Post by perpetualtraveler on Nov 2, 2016 11:54:21 GMT
Right now in my loanbook (with only buy back loans) less then half of the loans are current. Is this normal/sustainable?
Status PCT
%
Current 44.94
01-15 17.99
16-30 22.41
31-60 14.66
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Post by Sykynka on Nov 2, 2016 12:56:13 GMT
I have it similar with personal loans.
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Post by karloshi on Nov 2, 2016 17:54:07 GMT
I feel like there are slightly more overdue than there normally is on Mintos but it is comparable to other sites with personal loans.
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Post by falconet on Nov 2, 2016 21:49:04 GMT
Yeah, I have quite a few overdue loans from Lendo.
Should be a while till the BB kicks in.
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Post by buttchopf23 on Nov 3, 2016 7:01:01 GMT
I have as well about 50% of overdues. So, I have to rely on bb  |
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fric
Member of DD Central
Posts: 199 
Likes: 79
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Post by fric on Nov 3, 2016 7:02:46 GMT
Imho it depends on what kind of loans these are. Personal high interest loans from non-bank lenders have high risks, we all know the stories from news. People are taking out loans irresponsibly, taking loans to cover other loans etc. etc.
Is it sustainable? Well, the problem is that we do not see the full picture. Because lets be real - these loans aren't given to people at 10-13% yearly rates. Its usually MUCH higher (sms/payday loans taken for a maximum of a month (often even less, maybe 2-3 weeks) used to be in as bad as up to 1000% yearly, but it went down in Latvia, because some controlling regulation was changed to limit this a bit), they cover their risks/expenses/buyback/profit they want with this difference.
Edit: example - I just went to banknote.lv and with their sample frontpage calculator, taking 390 eur for 12 months, yearly interest rate is 274,43% and on top of 390 eur principal you will be paying 352,26 eur in interest.
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Post by falconet on Nov 4, 2016 10:27:39 GMT
Yeah, I have quite a few overdue loans from Lendo. Should be a while till the BB kicks in. Just had a bunch of BB on late Lendo Loans - they were all in the 1-15 days bracket IIRC.
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vko
Posts: 19
Likes: 2
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Post by vko on Nov 5, 2016 10:23:39 GMT
Just had a bunch of BB on late Lendo Loans - they were all in the 1-15 days bracket IIRC. Well me too, except they were not exactly buybacks. All of them were bought back by Lendo due to "loan agreement extended". Also had a big bunch of normal repayments that were ~2-11c short due to late fees, so they are not yet finished.
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