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Post by mukiwa on Aug 23, 2017 18:34:32 GMT
Early signs of issues with loans with Ratesetter possibly?
(Problems with repayments are likely to be an early warning sign that Britain’s debt bubble is about to burst?)
Who's worried?
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Post by davee39 on Aug 23, 2017 19:09:42 GMT
The problems were caused by a bodged redundancy program which replace self employed (incentivised) collection staff with fewer employed staff. The company was in the very high rate poor quality borrower space.
Zopa has however recently flagged up issues with lower quality loans & is reducing exposure to D & E. Inevitably there will be increased losses at the next downturn, our problem is the lack of potentially safer alternatives.
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Post by p2plender on Aug 23, 2017 23:30:57 GMT
Obviously the op hasn't read the reason for PFG's problems and instead perhaps read the Daily Mail headline. On a brighter note I picked up lots of the stock sub 500p on the profits warning. Woodford holds a lot and has given his reasoning for staying put. May well be bargain of the century. Currently 661p
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Post by peerlessperil on Aug 23, 2017 23:58:35 GMT
Indeed - it appears the home credit division have managed to shoot themselves in the foot using an ipad. Rolling out new technology whilst heavily disincentivising your workforce - what could go wrong? Apparently issues with "data integrity", we're now told. Oh well, I've held my nose and bought some today as well, despite many misgivings. The Vanquis FCA issue may hint at wider company culture issues, so this is very high risk. There was me thinking they were worth a look a few weeks back after the first profit warning. May as well average down..... Aren't shares fun?
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Post by p2plender on Aug 27, 2017 0:28:41 GMT
To be fair I nearly bought the day before around 1700p I think!! My thinking was they'd fallen enough of late!
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