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Post by GSV3MIaC on Nov 21, 2017 19:44:26 GMT
The launch email from Ly reads, to me, as slightly desperate. 8>.
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Post by GSV3MIaC on Nov 21, 2017 19:39:39 GMT
My understanding is that yes, it might give rise to CGT, although the jury is out (sale of simple debts etc.) and I'm not threatening the CGT threshold(s) anyway. And yes, I can never be sure I sold to myself, since I sold on an open market, and there were / are other buyers and sellers.
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Post by GSV3MIaC on Nov 21, 2017 13:07:29 GMT
You'll have to ask them I think, and they don't post here as a matter of policy. I sort of suspect not, but if they do I bet it is well hidden.
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Post by GSV3MIaC on Nov 21, 2017 13:06:24 GMT
Try cycling the power (both on the PC, and the router) just in case? Both the OS and the router are between you and the website.
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Post by GSV3MIaC on Nov 21, 2017 13:03:52 GMT
I managed to get my entire ISA allowance into ABLRate (and invested) in a couple of hours, but that did involve moving over quite a few existing investments .. I guess if you were starting from ground zero it could be harder, especially if you were unwilling to pay the odd 0.2% premium (which I cheerfully did... especially when it was myself I was paying, but in a few other cases too).
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Lendy (L) in Administration
Scarily Quiet
Nov 21, 2017 8:30:51 GMT
Post by GSV3MIaC on Nov 21, 2017 8:30:51 GMT
It's just as quiet over there (for Lendy). No new loans, no new info, so what's to talk about ... maybe Friday's loan updates will start something ..
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Post by GSV3MIaC on Nov 20, 2017 17:17:51 GMT
ablrate .. far from being fixed the SM is currently (at least for me) completely broken, I get a 'there was an error' every time I hit 'trade'. (report turned in via the website as well). This is Ffox on Win7, but it was working earlier today, so it must be something you changed, unless my browser has sprung a leak.
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Post by GSV3MIaC on Nov 20, 2017 16:50:43 GMT
Determining when a debt goes bad is either 'look at parts each month (or day or whatever) and note when the status changes to something other than 'live', or (if you failed to do that) look at the repayments made tab, which will tell you when the repayments STOPPED being made (although it'll be some arbitrary period after that before FC believes it is dead). It's really a ridiculous amount of effort, especially if you didn't do it from the get-go. I used to have a bot dump everything for me at least monthly, and it was still a PITA because transaction entries never give you part number AND loan number (and for cash-back they gave you NEITHER, iirc), plus of course FC are quite capable of losing or doubling transaction entries (which I had to point out to them several times during my stay with them). I favour SteveT 's approach .. buy/sell the (FC)IT, or else only worry about it on an annual (tax return) basis**. ** and bite your tongue if the numbers don't quite add up right.
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Post by GSV3MIaC on Nov 20, 2017 14:06:23 GMT
what time is the loan out today? 2 pm Except it isn't .. now 14:05 and no sign of it, which may be an issue for people taking a toilet-break at work specially in order to bid (although I suspect this one will still be plenty there by going home time). Ah: 14:06 and now it is there .. filling at a reasonable rate (£66k so far)
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Post by GSV3MIaC on Nov 20, 2017 10:56:57 GMT
Nomad .. Come back last week, when many were available at a small discount. Or perhaps next week, when some car loans may be. However most of the premia amount to <1 month's interest, so unless repayment is imminent, it hardly dents the APR at all.
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Post by GSV3MIaC on Nov 20, 2017 8:05:06 GMT
Business loans (eg FC) generally die for several weeks through Dec/Jan, presumably due to mass vacations, so it was always good for SM sales. Not sure about personal loans.
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Post by GSV3MIaC on Nov 19, 2017 21:01:47 GMT
One suspects (as SteveT guessed, I believe) that this is just a 'cookie cutter' job on the existing £500k car loans, in which case DD is simply to go and read one of those and decide if you want some more (with a slightly different set of cars as the security .. at least one hopes they are a different set, and not double counted here, or with MT, or FS, or whatever). Notwithstanding that though, I agree that 24 hours (or more) for perusal of the loan documents should be the norm. Whether it was our perusal which sank the pub, or something else, we may never know, but extra eyeballs can't do any harm. If it is more cars, then bid limits is likely not required, there are £m+ of cars floating around already .. a lot of people may be saturated (unless some BH has a huge chunk from elsewhere which is burning a hole in their pocket? Even so, finding half a dozen £100k+ bidders is a bit unlikely IMO .. and in Ablrate's as well, apparently).
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Post by GSV3MIaC on Nov 19, 2017 19:19:08 GMT
You have to take the transaction report (for each month) and run it through a program (I used excel/vba) to sum the interest receipts and any cashback (them was the days) .. ignore capital repayments and loan part purchases. If you actually bought or sold loan parts, you need to add/subtract premiums and discounts too. And finally, since it doesn't show up in the transaction reports, you need to adjust for bad debts (which means looking through your parts list for duds, and figuring out when it happened). Of course deciding when to account for the bad debt (and any subsequent recovery) is a judgement call. I just made £200+ profit on an account balance of £0 because a 2016-tax-year bad debt got recovered, which makes the old P&L report a wee bit spiky (and the IRR for this month slightly infinite).
If you want simple, this is not the best platform to try to get the data from!
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Post by GSV3MIaC on Nov 19, 2017 19:04:31 GMT
Did these parts come to you with the risk band already removed?
No. The risk band was removed a couple of weeks after Autobid purchased each loan part. That's a well known feature of autobodge of course .. it'll buy anything, and canny investors will be doing their best to sell whatever looks dodgy, or (if all else fails) just sell everything every 6 months, rinse and repeat. skint4achange .. nope, "someone who wants to make money by investing in a business/asset for short/long term gain?" is probably just an investor, or even a venture capitalist (FC already had those some time since). I am one (very trivial share holder in AC). You'll know a proper vulture capitalist when you meet one (count your fingers, you'll be a few short).
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Post by GSV3MIaC on Nov 19, 2017 9:00:34 GMT
Your 'orders' you mean. 8>.
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