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Post by elephantrosie on Sept 3, 2017 10:59:46 GMT
The reality is if you are earning 7% in the current environment it is high risk. My experience of AC is that they seem to be more professional than most P2P platforms and are fairly good at recovering on bad debt. I also get the feeling that their business model is based about transparency which I like. Have I seen some questionable loans on there - yes, however most of these have been 10%+. From my personal experience you are alot better off doing manual investments rather than using one of their automatic product. You can control the amount of diversification and reduce your average loss using common sense/google. manual loans without provision fund.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Sept 3, 2017 11:09:26 GMT
The reality is if you are earning 7% in the current environment it is high risk. My experience of AC is that they seem to be more professional than most P2P platforms and are fairly good at recovering on bad debt. I also get the feeling that their business model is based about transparency which I like. Have I seen some questionable loans on there - yes, however most of these have been 10%+. From my personal experience you are alot better off doing manual investments rather than using one of their automatic product. You can control the amount of diversification and reduce your average loss using common sense/google. manual loans without provision fund. Everybody seems to overlook the most important word " disretionary"........a bit like advertising nonsense "save up to"
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Sept 3, 2017 11:14:09 GMT
manual loans without provision fund. Everybody seems to overlook the most important word " discretionary"........a bit like advertising nonsense "save up to"and " target" interest rate returns"
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Post by elephantrosie on Sept 3, 2017 11:21:27 GMT
true. but AC is still a platform i am very cautious about.
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angrysaveruk
Member of DD Central
Say No To T.D.S
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Post by angrysaveruk on Sept 3, 2017 12:41:02 GMT
The reality is if you are earning 7% in the current environment it is high risk. My experience of AC is that they seem to be more professional than most P2P platforms and are fairly good at recovering on bad debt. I also get the feeling that their business model is based about transparency which I like. Have I seen some questionable loans on there - yes, however most of these have been 10%+. From my personal experience you are alot better off doing manual investments rather than using one of their automatic product. You can control the amount of diversification and reduce your average loss using common sense/google. manual loans without provision fund. In my opinion manual loans without a provision fund are less risky on this platform.
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Steerpike
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Post by Steerpike on Sept 3, 2017 12:56:06 GMT
manual loans without provision fund. Everybody seems to overlook the most important word " disretionary"........a bit like advertising nonsense "save up to"Is there a platform that offers a provision fund that is not discretionary?
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Post by oldnick on Sept 3, 2017 13:06:20 GMT
Everybody seems to overlook the most important word " disretionary"........a bit like advertising nonsense "save up to"Is there a platform that offers a provision fund that is not discretionary? There cannot be a guaranteed deposit protection scheme where p2p is concerned.
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jj
Member of DD Central
Jolly Jammy
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Post by jj on Sept 3, 2017 13:10:53 GMT
By chance one of AC's borrower is a customer of ours so I was interested in the credit report.
The report was accurate & correct and AC fulfilled all its legal obligations in revealing the financial state of the Co.
Now there is a background story that AC did not mention, which I am not going to write here but it would have affected the popularity of the loan.
This information is freely available to anyone with an internet connection and patients of a saint. Its not a secret.
The conclusion for me was to address P2P in a more algorithm way instead of relying solely on LTV figures & reports.
P.S. This example applys to ALL P2P platforms not just AC. There is always a reason why people borrow through P2P and not a bank.
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Nomad
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Post by Nomad on Sept 3, 2017 13:26:26 GMT
Is there a platform that offers a provision fund that is not discretionary? There cannot be a guaranteed deposit protection scheme where p2p is concerned. Some Archover loans are "insured"; most offer around 7% return.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 3, 2017 13:27:07 GMT
The borrower referred to in OP also has/had a loan from LI so has passed institutional grade DD as well.
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angrysaveruk
Member of DD Central
Say No To T.D.S
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Post by angrysaveruk on Sept 3, 2017 14:10:02 GMT
As long as the loan is secured on something and it has been valued properly that is my main concern. Worst case scenario is they default and the asset is sold and I get my money back (hopefully plus interest).
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kaya
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Post by kaya on Sept 3, 2017 14:42:25 GMT
oldnick ''the thread title sucked me in''
Clickbait!
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michaelc
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Post by michaelc on Sept 3, 2017 15:58:55 GMT
oldnick ''the thread title sucked me in''
Clickbait!
Hardly. The subject was virtually a direct quote - should I have dumbed it down? Regarding the comment about "as long as the security is good", that is FS's approach but at least they pay 12%. Crikey, this was the _first_ loan I looked at and if you don't believe that, at least consider that at the time of the post it was the loan at the top of the list and only one in its category when I started my DD on it. And its paying 7% ? The fact that hardly anyone thanked me for pointing this out suggests to me many people are very happy with the platform regardless which might be related to its general reputation as being a slightly "safer" place relative to its peers.
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btc
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Post by btc on Sept 3, 2017 16:03:42 GMT
AC is worse than FS
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Post by oldnick on Sept 3, 2017 16:18:17 GMT
oldnick ''the thread title sucked me in''
Clickbait!
Hardly. The subject was virtually a direct quote - should I have dumbed it down? Regarding the comment about "as long as the security is good", that is FS's approach but at least they pay 12%. Crikey, this was the _first_ loan I looked at and if you don't believe that, at least consider that at the time of the post it was the loan at the top of the list and only one in its category when I started my DD on it. And its paying 7% ? The fact that hardly anyone thanked me for pointing this out suggests to me many people are very happy with the platform regardless which might be related to its general reputation as being a slightly "safer" place relative to its peers. Yes, you used words that were mentioned in the credit report, but you did not make it clear that they were false accusations. This painted the loan in a very different light in my opinion. So, no thanks for misrepresenting the information contained in the credit report in the thread title, and thanks for highlighting that it only pays 7%. 
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