A bad month?

Less than expected defaults this month so far.   But still time for that to change.

Can you clarify whats meant by closed - I have over 37 bad loans, admittedly mostly from the pre-safeguarded era. All of mine are still marked default and many are actually still paying. I admit these are small payments but they are still paying.

Some have not paid for over 2 years or more but many are indeed still paying this month, some are paying at least once this year and so on.

Once thing about defaults though is that the comments field may say they have paid in a month but not all lenders on the loan may have received a payment. Zopa have assured me that they know who is paid and who is not so they will rotate payments next time - hopefully.

I have 5 Zopa+ loans in collections, out of a total zopa+ book of 135 loans, some of the collections are actually going to go default soon (4 months will have passed) some are just behind, their DD's don't seem to be correct a couple seem to be in trouble, one of which has not paid a penny since the loan was opened!. All of them are interest rates higher than 16% and are d&E types. If they all go default and don't pay that will be a hit perhaps but thankfully I am diversified across classic and pre-safeguarded as well.

My OH however has a couple of defaults and an arrangement with 1 collection on DD setup issues. Thats in a total of 131 zopa+ loans and again all the loans are above 16% and in D&E markets. 

All of our loans in zopa+ have been at £10 only.

yeah I noticed that in the statements screen after I'd already created an excel spreadsheet that loaded all the statements from when I started and then searched for the relevant name of a borrower etc etc etc. It basically does what the old zopa reports used to do but its not able to say what was expected to be paid on any given month just what was paid and when, taking its data from the statements csv's.

I also noticed that Zopa added the default date in the main loanbooks that is useful but squiffed ( a technical term) all my excel loaders but that's another story. I guess my moaning about the comments field not always having the data for default date was eventually taken on board. Shame they couldn't have moved it to last field to prevent mucking up the excel loaders but at least its a start.

glad to help, they didn't exactly announce it. ;-)

I have now had 6 defaults in April, making a total of 16. 14 of my 16 defaults were from June and August 2016 where I made lump sum investments of £1000. The remaining investments are repayments from Classic or Plus and are therefore more spread out. However it looks like I may be past peak default, even for those months. I currently have 9 loans in Collections of which 7 are from June and August, some are making partial payments and only 2 are likely to default in the next 2 months. Intriguingly I made 33 loans in July 2016 (around 30% of June and August) and none and in collections or have defaulted. It does make you wonder if they give you more risky loans when you invest a lump sum or maybe I was just unlucky.

Are you determining that they are currently in a "defaulted state" based on [Default date] being populated? Because I don't think that will always be true. If they have made up all their arrears, they still defaulted once and that was the date that happened.

On another note I've got 4 loans that are more than 4 months worth worth of repayments in arrears (and have been since early last week) and they have not been registered as defaults yet...


I should really get back to work instead of playing with these spreadsheets!!

You an me both - I changed what I was looking at I was mistakenly looking in all time rather than current. I changed my comments that are similar to yours on the 4 months issue.