Huge losses for private Bondora investor

nellerdk

Posts: 217

Likes: 50

Huge losses for private Bondora investor Jul 2, 2017 11:21:53 GMT

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Post by nellerdk on Jul 2, 2017 11:21:53 GMT

this looks quite bad:

Bondora
Updated 01.06.2017

Investment start date: 18.08.2015
Total deposits to Bondora: 26.080€
Net profit according to Bondora: 7.959€
Current account value: 34.040€
Portfolio info

Current amount: 15.033,55
Overdue amount: 3.724,78
Defaulted amount: 18.662,08 (!)
Total outstanding principal: 37.420,41

Source:
financiallyfree.eu/bondora_portfolio/

kulerucket
Member of DD Central

Posts: 336

Likes: 93

Huge losses for private Bondora investor Jul 2, 2017 14:59:49 GMT

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Post by kulerucket on Jul 2, 2017 14:59:49 GMT

I just had a look through this blog and saw "I’m reinvesting all repayments, both principal and interest.". What?!! I can't understand why anyone in their right mind would continue given those stats. I have the feeling that this person could have seen this pattern emerging quite some time ago before things got as bad as this.

kulerucket
Member of DD Central

Posts: 336

Likes: 93

Huge losses for private Bondora investor Jul 2, 2017 22:59:41 GMT mopcku likes this

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Post by kulerucket on Jul 2, 2017 22:59:41 GMT

Actually, looking deeper into this blog makes me feel quite sad for the guy because he does't seem to be aware of the problem. He is looking towards financial freedom but is counting the net interest reported by Bondora as a real income. He has reported an income of 225.8€ from Bondora in June yet a further 534.08€ defaulted in this time. He is expecting for the net income to start improving with time but since the proportion of principal of a missed payment increases over time, it will diminish at an increasing rate month on month. :-(.