markr
Member of DD Central
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Post by markr on Nov 4, 2014 11:30:00 GMT
Mine's around 18%, although if I don't count the two loans FC repaid (S**t Ho**e and the missing booze) it falls to just over 9% Recovery payments much improved over last year. The improvement in recoveries corresponded with taking debt recovery in house, when they defaulted a number of zombies that had been limping along. Presumably, when defaulting a loan meant paying fees to a collection agency, they were reluctant to do it, now they can keep the fees for themselves they are more willing.
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jo
Member of DD Central
dead
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Post by jo on Nov 4, 2014 11:55:37 GMT
1/9 update 5.02% (from 3.6% on 1/7). 4/11 update: 6.17%. Bad news is the absolute number is slightly higher 
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Nov 4, 2014 14:59:16 GMT
Seen a definite improvement in the last 6 months from just below 20% to 27%. Just hope this trend continues. Then I could be nearer 50% in two or three years! However realistically we are not likely ever to reach 50% and should be satisfied with something closer to 35% average recovery. I still think that the real cause is FC's DD which on quite a number of occasions has been really suspect. Two instances spring to mind as being exceptional light on DD, the dodgy solicitors and the Crappy Scrappy. Hopefully FC have put more effort into this as they have matured and the real con merchants will be sorted early on before they have a chance to rob us the investors.
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Post by gaspilot on Dec 29, 2014 19:04:38 GMT
Just an update £17.03 recovered from £838.62
Approximately 2%.
Pathetic!
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Post by GSV3MIaC on Dec 30, 2014 10:28:23 GMT
Across how many bad loans though, Gaspilot? Recovery is very very patchy .. some loans you (eventually) get nearly 100%, some others you get zero. Yet another reason to diversify like crazy.
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Post by gaspilot on Dec 30, 2014 12:18:38 GMT
Across how many bad loans though, Gaspilot? Recovery is very very patchy .. some loans you (eventually) get nearly 100%, some others you get zero. Yet another reason to diversify like crazy. 9 loans defaulted, 21 downgraded and a few more with delayed payments. Diversified over 737 loans.
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blender
Member of DD Central
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Post by blender on Dec 30, 2014 15:17:57 GMT
That's really bad luck. But it is not practical to diversify sufficiently to have a predictable recovery percentage, which is a second order figure. You would have to buy every loan and lend £100k plus.
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Post by GSV3MIaC on Dec 30, 2014 16:20:06 GMT
Yep 2% recovery from that many defaults really is well out to one end of the bell curve. Remind me to watch what you buy and avoid it (just kidding!)
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Post by goldservice on Dec 30, 2014 16:43:23 GMT
Just an update £17.03 recovered from £838.62 Approximately 2%. Pathetic! Just to be sure: do you mean 'from a single loan of £838.62' or 'from all of my defaulted loans which total £838.62'?
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Post by gaspilot on Dec 31, 2014 7:26:48 GMT
Just an update £17.03 recovered from £838.62 Approximately 2%. Pathetic! Just to be sure: do you mean 'from a single loan of £838.62' or 'from all of my defaulted loans which total £838.62'? From all of my defaulted loans.
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Post by transo on Dec 31, 2014 12:23:52 GMT
Just an update £17.03 recovered from £838.62 Approximately 2%. Pathetic! Just to be sure: do you mean 'from a single loan of £838.62' or 'from all of my defaulted loans which total £838.62'? The other key question is "how long have the loans been defaulted?"; recoveries take time. My recoveries now stand at just over 10% of my bad debts, which is an improvement over the beginning of the thread. As an example, one of the early loans (174) defaulted in September 2012, and only made a first (we're told of a monthly series) recovery payment earlier this month. Another old loan is plodding away with monthly recovery payments and is now 18% recovered (and hopefully will go on increasing).
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Post by loanstar on Jan 1, 2015 20:06:33 GMT
May I ask for your help. I have a defaulted loan, 4311, for which recoveries have been rolling in for the past three months.
How do I find out how much has arrived in my account? In the earnings summary, recoveries, I can see a total figure. From simple maths I can work out that it has increased by 2p. Would I also expect to see a deposit in my transaction statement? How would it be recorded?
I also have 2133, which is secured on a printing press. Any ideas how long it will take to sell the machine and repay my 13.46? I assume only capital is repaid and no attempt is made to recover lost interest?
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blender
Member of DD Central
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Post by blender on Jan 1, 2015 21:09:26 GMT
May I ask for your help. I have a defaulted loan, 4311, for which recoveries have been rolling in for the past three months. How do I find out how much has arrived in my account? In the earnings summary, recoveries, I can see a total figure. From simple maths I can work out that it has increased by 2p. Would I also expect to see a deposit in my transaction statement? How would it be recorded? I also have 2133, which is secured on a printing press. Any ideas how long it will take to sell the machine and repay my 13.46? I assume only capital is repaid and no attempt is made to recover lost interest? As far as I know the only way is to search the transactions, which will show a recovery payment for each loan part.
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Post by transo on Jan 2, 2015 8:16:55 GMT
May I ask for your help. I have a defaulted loan, 4311, for which recoveries have been rolling in for the past three months. How do I find out how much has arrived in my account? In the earnings summary, recoveries, I can see a total figure. From simple maths I can work out that it has increased by 2p. Would I also expect to see a deposit in my transaction statement? How would it be recorded? I also have 2133, which is secured on a printing press. Any ideas how long it will take to sell the machine and repay my 13.46? I assume only capital is repaid and no attempt is made to recover lost interest? Yep, recovery payments show in your transaction statements as "Recovery payment for loan part xyz". If you're only interested in the total then you can see this by expanding the "Losses" item on your summary page, which will show you separately the amount defaulted and the amount recovered (on all your loans). I'm not sure why you're worried about 2133, from my last loan book download yesterday this was still paying as normal (38 repayments to go) and it looks like the payment due yesterday happened on time too.
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Post by loanstar on Jan 2, 2015 12:58:37 GMT
I had assumed that as it was downgraded and had the comment;
"This loan has been downgraded as we have received notice that the company is entering a voluntary arrangement. We have been advised by the prospective supervisor that we are included in the arrangement and are expected to be paid in full. In any case, we have a fixed charge security."
that payment had stopped. I have checked the repayments, and of course you are corrert. Thank you, a good note to start the New Year.
I have had time today to download the December figures and run a couple of queries on the account transactions. Yep couple of entries as recorvery payments.
So loans become downgraded, but still pay? So what loans make up the bad debt figure? Are these loans in default? Is money from a defaulted loan classed as a recovery, not a repayment? Do Faulty Crew flag defaulted loans in some way? How would I work out money "lost" to set against tax post April?
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