hazellend
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Post by hazellend on May 5, 2018 12:58:30 GMT
So you could claim the new default loss again? Either :- Year 1: You claim loss. Year 2: You claim new loss but count the recovered amount as income. Or :- Year 1: Do nothing. Year 2: Claim the new default amount as a loss. Ah I see now. Makes sense
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spiral
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Post by spiral on May 5, 2018 16:32:45 GMT
Ah, but didn't I read somewhere that the purchaser of a loan in default cannot claim the tax relief.
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archie
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Post by archie on May 5, 2018 16:53:49 GMT
Ah, but didn't I read somewhere that the purchaser of a loan in default cannot claim the tax relief. That refers to defaults traded on the sm. It doesn't apply here.
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Post by df on May 5, 2018 19:04:49 GMT
In addition, if you have a well balanced and diversified portfolio, small capital loss like this is nothing. I'm very pleased with the outcome. The problem with that I found was that is was quite hard to participate in many of the loans. For the past year or so I'd log in in the evening and typically find not much available. When I did see something on the pm I'd typically buy it. As a result, I ended up with a hugely disproportionate number of defaulted loans. Yes, I should have spent a lot longer than I did researching how the platform operated and p2p in general. All I knew at the time was a an FCA approved platform and lots of positive comments on the forum. I would imagine it is very difficult for investors who are not able to log in during the day. It used to be 4pm, now 12pm, when renewals go live - these loans disappear within minutes. The ones that take longer to fill up are just a handful of property loans.
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derbyfella
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Post by derbyfella on May 7, 2018 19:59:14 GMT
Has the hotel been run as a going concern for the past 9months?mwhat has happened to that income?
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copacetic
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Post by copacetic on May 7, 2018 20:29:21 GMT
Has the hotel been run as a going concern for the past 9months?mwhat has happened to that income? Per the update 23/03/18 it was implied that the hotel was loss making so there was no net income. This was why an offer that wasn't sufficient to repay all capital was accepted - the longer it would have run on for the higher the potential for greater capital loss. On another note, the nearly £2m repayment doesn't seem to have made that much of a dent in the SM. There has been a few nibbles off some of the sales queues and the £300k pawn loan was snapped up fairly quickly but what's currently for sale on the SM appears to be unpopular for other reasons than lack of funds.
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Post by funkymonkey on May 8, 2018 8:04:35 GMT
Has the hotel been run as a going concern for the past 9months?mwhat has happened to that income? Per the update 23/03/18 it was implied that the hotel was loss making so there was no net income. This was why an offer that wasn't sufficient to repay all capital was accepted - the longer it would have run on for the higher the potential for greater capital loss. On another note, the nearly £2m repayment doesn't seem to have made that much of a dent in the SM. There has been a few nibbles off some of the sales queues and the £300k pawn loan was snapped up fairly quickly but what's currently for sale on the SM appears to be unpopular for other reasons than lack of funds. Only MT will know how much of the £1.8m was withdrawn from the platform, or reinvested (and then put back on the SM).
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Post by GSV3MIaC on May 8, 2018 10:18:56 GMT
The SM went down by about £200k, and £300k of pawn loans got funded, which is quite a bit of the returned funds. There is, of course, no easy way to tell how much of the SM got purchased and then immediately relisted (I admit to doing some of that) .. MT would know, based on how much they sent out to Lenders' bank accounts.
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marka
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Post by marka on May 8, 2018 17:55:16 GMT
I have a couple of loans up for sale as I want to repurchase the same inside my new IFISA, and they both got quite a bit closer to the front of the queue, so as already suggested I suspect that a fair amount was reinvested and then immediately put up for sale again
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niceguy37
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Post by niceguy37 on May 14, 2018 11:59:18 GMT
I have a couple of loans up for sale as I want to repurchase the same inside my new IFISA, and they both got quite a bit closer to the front of the queue, so as already suggested I suspect that a fair amount was reinvested and then immediately put up for sale again May I ask how you can tell what your position is the queue is?
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goofy115
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Post by goofy115 on May 14, 2018 12:04:22 GMT
I have a couple of loans up for sale as I want to repurchase the same inside my new IFISA, and they both got quite a bit closer to the front of the queue, so as already suggested I suspect that a fair amount was reinvested and then immediately put up for sale again May I ask how you can tell what your position is the queue is? Loans>my loans>for sale and one of the headers is queued behind.
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niceguy37
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Post by niceguy37 on May 14, 2018 13:40:11 GMT
May I ask how you can tell what your position is the queue is? Loans>my loans>for sale and one of the headers is queued behind. Thank you
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copacetic
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Post by copacetic on May 15, 2018 11:25:13 GMT
Is it possible to have a timeline of events leading to the release of the next chunk of funds now withhold by the administrator of the Prestbury property? This is in the hands of the administrator and in general administrator activity is only detectable in geological time scales. Sit back and relax, I wouldn't expect even an update for a month and I'd be very surprised if we received a futher payment before 3 months is up.
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Carter
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Post by Carter on May 15, 2018 14:54:57 GMT
Listen pal, you need to tone it down. If you want anything close to a definitive answer to such questions you need to direct them to the platform. EDIT: directed to thegrumbler of course.
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Post by funkymonkey on May 15, 2018 16:16:45 GMT
Listen pal, you need to tone it down. If you want anything close to a definitive answer to such questions you need to direct them to the platform. EDIT: directed to thegrumbler of course. Chill out, this is a defaulted loan with a pretty good return so far. Have a bit of patience, if you don't have patience then maybe P2P isn't for you....
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