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Post by fishyhooky on Oct 10, 2017 15:03:42 GMT
I know the numbers add up, until they started having systems problem my monthly earning were £200 - £300 after taking off the any bad debts, bad debts were around £70 to £120 per month.
I'll wait until they say that the problems are solved! before making a decision to withdraw from Zopa
By the way they have amended my monthly earnings in the past.
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Post by fishyhooky on Oct 10, 2017 8:39:39 GMT
I've just checked my statement for September and my earnings are -£8.08
Earnings of £169.36
Bad debts £182.11
Bad debt repayments £4.67
Hope when they finally gets their systems sorted out that these figures are corrected
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Post by fishyhooky on Oct 7, 2017 15:45:56 GMT
I don't think that their suggestion for calculating earnings is accurate as shown below
Quote: Recent net earnings It is possible to calculate recent earnings ahead of your Account summary statement updating. It will account for all interest and credits earned less any defaults and fees.
On your Statements page, note your closing Investment total from the most recently complete month,
Subtract the Statement Investment total from the Summary Investment total to calculate recent net earnings.
I did this at the end of September but the result was way below what I usually receive = £127.30, usually each month I have received between £182 and £379 with a monthly average of £217.
Must have had a lot of Defaults, hope they get their systems up and running soon.
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Post by fishyhooky on Sept 12, 2017 7:30:05 GMT
Received the following from Zopa last night
Good evening Les,
Thank you for your email. We currently have a problem with the statements page, whereby the process of uploading the figures from an internal report, onto the Statements page, is delayed. Therefore no figures have been updated for the September statement and you will see the 'No transactions in this period' message. This is something we are currently looking into a fix for, and once our Technical Team have sorted this, the statements page should be up and running as normal. I do apologise for any inconvenience this has caused, please do let me know if there was anything further you would like to discuss.
Kind regards,
Victoria Russell
We're always looking to improve!
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Post by fishyhooky on Aug 10, 2017 11:31:57 GMT
aju
Just had a quick look at the all time loan book, I've taken out all the loan which have been repaid and are now closed which now shows that I have 4940 loans of which 46 are showing a status of Default all bar 1 (Pre Safeguard) are in Plus of which bar 2 (£100) are £10 or less loans
The point I was making was that it seems to me that of the total earnings during 2017 todate it seems to be a high amount of defaults compared to the amount I've earned, I'm no maths expert or financial wizz kid, I'm just letting people reading this my observations.
I'm still getting a better return from Zopa than I would get from a bank
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Post by fishyhooky on Aug 8, 2017 19:18:34 GMT
I have money invested, £60k is split into 3 x £20k in Access, Classic & Plus and have recently since June been re-investing the earnings into Core.
I have been keeping a spreadsheet to track my monthly/yearly earnings
To the end of July I have earned £1642 but my defaults are £653 which by my reckoning is a default rate of 40% which seems a lotc
Interest earned from borrowers £1642 Bad debts: New defaults -£653 Net for 2017 YTD = +£989.26 Gross return = £989/£60000 = 1.65% To end of July
Projection for the full year is therefore 2.83%, not what I was expecting which was about 3.5%
Think the answer to some of the defaults is that I invested a large sum which was lent out in £397 x £100 chunk's
At least the money being re-invested into the Core product is being lent out in £10 chunk's or less
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Post by fishyhooky on Jul 10, 2017 11:11:49 GMT
Totally agree, My statements haven't been update since last Monday 3rd July, "Bear with us for a few minutes" few hours more like
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Post by fishyhooky on Jul 8, 2017 8:23:53 GMT
Why is the web site so slow, takes me about 4 min's to access the statements page, today it's showing that last updated 3rd July 21.48pm
Come on Zopa get your act together.
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Post by fishyhooky on Jun 2, 2017 10:06:55 GMT
Thanks for your prompt reply, must have taken you sometime to create your reply
I've done some work on the Zopa spreadsheet and I have 667 loan of £50 or more of which 397 are for £100
So that is probably why I had some high defaults
I now have a better understanding of how the Bad Debts are arrived at, If I invest any more money in Zopa I'll invest smaller amounts so that they are only lent out in £10 loans
Once again thanks for the info you provided, my spreadsheet has 5544 lines although 1249 look to have been repaid if I understand that a 1 in the repaid % column means that the loan has been repaid
Les
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Post by fishyhooky on Jun 1, 2017 14:02:01 GMT
I currently have 60k invested in Zopa, 20k in each of the three funds, each month I have losses and to-date this year
the losses amount to £416.00 which is 36% of the total interest I have received this year, I have only been tracking the monthly interest payments since Jan 2017 although I have been an investor since 2012 albeit with smaller investments
Does this seem high to you all or is this the norm, in April I received £6.29 which was a repayment from a bad debt
It would be nice if there was a spreadsheet for each product so that any one could see where the losses are occurring
Have tried looking at the loan spreadsheet but the loans with debts seem to have been removed
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