oldgrumpy
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Post by oldgrumpy on Feb 2, 2017 17:17:56 GMT
Yuk! You'll be the first to be banned from the forum for over exposure before the 9pm "watershed"!  Brings new meaning to the expression, "does my bum look big out of this?" |
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ferdy
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Post by ferdy on Feb 6, 2017 16:58:13 GMT
Well I'm not !
In the last couple of months, 3 loans (2*D + 1*B) downgraded before making their 2nd repayment; 3*C
loans currently showing as late, 2 before making their 2nd repayment and 1 before making their 1st !
Not sure I can justify keeping my current balance on FC so will be making a tactical withdrawal soon.
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sl125
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Post by sl125 on Feb 6, 2017 20:04:12 GMT
Loan numbers for those?
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ferdy
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Post by ferdy on Feb 6, 2017 21:33:40 GMT
27521 27981 29700 29368 29473 30570
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sl125
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Post by sl125 on Feb 9, 2017 17:39:47 GMT
27521 27981 29700 29368 29473 30570 Interesting.. I did a quick check on the 3 of of those that I've had holdings in: 30570: paid on 3rd Feb, not downgraded. 29368: paid on 2nd Feb, not downgraded. 27521: although downgraded in December, it has made all its payments, last one was 27th Jan
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ferdy
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Post by ferdy on Feb 9, 2017 21:28:49 GMT
27521 27981 29700 29368 29473 30570 Interesting.. I did a quick check on the 3 of of those that I've had holdings in: 30570: paid on 3rd Feb, not downgraded. 29368: paid on 2nd Feb, not downgraded. 27521: although downgraded in December, it has made all its payments, last one was 27th Jan Interesting indeed! I have rechecked my transactions and 30570 and 29368 were definitely NOT paid (on my account) on 3/2 and 2/2 as they were to you. I see them listed as LIVE so I think an email to FC is in order. Weird ! As for 27521, yes agree it did pay on 27/1 but obviously being downgraded means I am unable to sell (as I intended to do) Thanks for checking. Much appreciated.
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dawn
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Post by dawn on Feb 9, 2017 22:13:45 GMT
Interesting.. I did a quick check on the 3 of of those that I've had holdings in: 30570: paid on 3rd Feb, not downgraded. 29368: paid on 2nd Feb, not downgraded. 27521: although downgraded in December, it has made all its payments, last one was 27th Jan Interesting indeed! I have rechecked my transactions and 30570 and 29368 were definitely NOT paid (on my account) on 3/2 and 2/2 as they were to you. I see them listed as LIVE so I think an email to FC is in order. Weird ! As for 27521, yes agree it did pay on 27/1 but obviously being downgraded means I am unable to sell (as I intended to do) Thanks for checking. Much appreciated. 30570 and 29368 both paid on 8th Feb - several days late in each case. No comment has been added for either of these to explain or acknowledge the late payment.
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sl125
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Post by sl125 on Feb 9, 2017 22:32:10 GMT
Ah, good point. So they are showing as paid up, but the payment was a few days late.
I'm not sure why a payment being 3 working days late is considered such a problem, though, that an investor would choose to wind down their investment on that basis.
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blender
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Post by blender on Feb 9, 2017 22:32:52 GMT
When you say late, do you mean that they were not paid on time or that they were given a late status by FC? They should write a comment if they were late and then repaid - a record of a late payment. But if they were in 'processing' or 'retry' that is not late, just delayed a bit, no comment would be entered and the payment would look as if it were paid on the due date. They go late four working days after the due date, and in both cases it looks as if these loans did not go late - though they were stretching a point between 2nd & 8th Feb. I would have been relieved to get the payment and would have sold it quickly.
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ferdy
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Post by ferdy on Feb 9, 2017 22:34:19 GMT
Interesting indeed! I have rechecked my transactions and 30570 and 29368 were definitely NOT paid (on my account) on 3/2 and 2/2 as they were to you. I see them listed as LIVE so I think an email to FC is in order. Weird ! As for 27521, yes agree it did pay on 27/1 but obviously being downgraded means I am unable to sell (as I intended to do) Thanks for checking. Much appreciated. 30570 and 29368 both paid on 8th Feb - several days late in each case. No comment has been added for either of these to explain or acknowledge the late payment. Yes I see them now. Many thanks
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Post by charliebrown on Aug 9, 2017 2:18:04 GMT
I'm not happy. I went for the non-diversified approach and put my money in just a few loans. I don't always believe diversification is the best approach, but with FC it seems I got really unlucky. I put money in 18946 (defaulted), 29514 (defaulted), 21802 (defaulted), 18602 (defaulted), 29700 (late and looks sure to default). The odds of almost every loan I touched defaulting must just make me very unlucky. I'm exiting FC with capital loss of around 6K pounds, it's been a truly terrible experience for me and I will never come back. That's just my experience, but good luck to all the other investors who enjoy great returns on FC, sadly I wasn't one of them.
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Post by df on Aug 9, 2017 2:50:49 GMT
I'm not happy. I went for the non-diversified approach and put my money in just a few loans. I don't always believe diversification is the best approach, but with FC it seems I got really unlucky. I put money in 18946 (defaulted), 29514 (defaulted), 21802 (defaulted), 18602 (defaulted), 29700 (late and looks sure to default). The odds of almost every loan I touched defaulting must just make me very unlucky. I'm exiting FC with capital loss of around 6K pounds, it's been a truly terrible experience for me and I will never come back. That's just my experience, but good luck to all the other investors who enjoy great returns on FC, sadly I wasn't one of them. I'm quite happy so far. I went for diversified approach and put my money in about 300 loans. Two of them defaulted and few more are heading that way, but overall the returns are better than I initially expected.
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justme
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Post by justme on Aug 9, 2017 7:12:23 GMT
There are not enough loans on MT and ablrate to diversify and I feel unhappy about how big percentage of my overall p2p holding is in each loan at present there , let alone adding more to them. I do not like putting all the money into property backed loans either.
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m2btj
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Post by m2btj on Aug 9, 2017 7:22:24 GMT
My strategy with FC was to invest small sums of say £20 into a highly diversified portfolio of some 650 loans. Like everyone here I have taken some losses, in my case generally under £20 per bad loan. My overall return is 7% & I am reasonably happy. However, I have been drawing down on FC & will not be investing new money. I believe that loans need to be asset backed, DD rigerous, default & loan recovery aggressive. Loans defaulting after just one or two payments shows a huge faling in DD! I feel that FC fall short on all counts & could learn from platforms like AC. It's worth remembering that P2P is not without risk & I believe platform diversification is as important as loan diversification.
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dorset
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Post by dorset on Aug 9, 2017 8:32:19 GMT
FC will not do real DD and you do not have time or access. The only solution is diversification. You will not get rich with FC will will make a steady 7% to 8% year on year. You will get plenty of defaults (I've had 147 over the last five years) but with upwards of 1500 loans the risk is minimal. As an aside my recovery on the 147 defaults stands at 38% to date so you will proably get about half of your losses back (eventually).
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