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Post by hypercube on May 10, 2017 21:03:09 GMT
Hi,
Several years at FC and logging up losses of 3K and recoveries of £70.
Some loans showing more recoveries than total number of payments due.
Not sure what is going on and why the recovery amount hasn't moved
much for nearly a year (from about £60 to £70).
Could FC be persuaded to state how much each recovery was so that its easier to understand
when a bad journey might end?
With FC closing down their forums, there doesn't seem to be any way to
communicate with them.
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sl125
Member of DD Central
Posts: 85 
Likes: 64
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Post by sl125 on May 10, 2017 21:38:30 GMT
Download the loan book. It will tell you how much has been recovered against each defaulted loan.
Also, you can still contact their customer service.
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Post by hypercube on May 11, 2017 21:11:46 GMT
Download the loan book. It will tell you how much has been recovered against each defaulted loan. Also, you can still contact their customer service. Thanks that was correct answer. I downloaded it from the bottoms of the statistics page, and converted the .csv file to spreadsheet and finally I can see against each loan number the total recovered. It seems a couple of big items with no recovery, and then all the others with low to nil recovery. Looking at the failed businesses that I bought into, I can't even begin to imagine what made me buy those items  One common theme seems to be government will step in and fund the last 10%. Somehow I imagined extra due diligence went into those projects. Not true is the best answer so far.
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metoo
Member of DD Central
Posts: 555
Likes: 432
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Post by metoo on May 12, 2017 13:48:08 GMT
One common theme seems to be government will step in and fund the last 10%. Somehow I imagined extra due diligence went into those projects. Not true is the best answer so far. The British Business Bank lending seems to be on all loans which fulfil some overall rule. I never worked out which loans are excluded. There is no-one doing due diligence on them. The BBB is happy to take the average returns including losses. It must be the best diversified investor on the platform. I assume the goal is to support the economy, businesses and job creation rather than to achieve an investment return per se, though an investment return figure was stated somewhere, roughly in line with advertised average.
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