ahowlin
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Post by ahowlin on Dec 12, 2015 14:53:30 GMT
In my experience the payments are fairly reliable once let. I have had the occasional missed payment (possibly due to the rent coming into PM after their payment date to me). But then it catches up the next month. I prefer these monthly payments versus what THC offer where you can easily wait 16 months for the first annual dividend.
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ahowlin
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Post by ahowlin on Aug 3, 2015 18:18:29 GMT
I have seen 11 defaults in circa 820 loans over a period of time. Of these there seems to be reasonable prospects of getting my money back on half the defaults; so even the defaults are not all bad. There are various strategies I have evolved to minimise default exposure. I can't be sure they are all effective but here they are for what it's worth.
1. Sell if a company has late payments and a very good reason is not supplied. Sometimes the first payment is late but this is more likely to be a one-off administrative issue. Sometimes many payments are reported late around bank holidays but I think this is a weakness in FC's processing/reporting. Anything outside of that I sell when possible.
2. I don't bid for companies that come back for another loan very soon after an initial loan. Indeed I sell the original loan part.
3. I have noticed that many of the defaulting companies had rock bottom credit ratings. So in general I will not bid on loans where the company has rock bottom ratings no matter what FC have categorized the risk band. I suspect the ratings FC use are more about the assets of the company/person lending rather than the probability of the loan running to completion cleanly.
4. I don't buy loans on the secondary markets anymore - most of the defaults I have seen have been loans bought on the SM. Also don't use Autobid ever!
5. Apart from that obvious considerations are; can they afford the loan, have they taken on a lot of debt recently, and avoid bidding where the company is selective about the questions they answer.
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ahowlin
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Post by ahowlin on Mar 5, 2015 10:27:26 GMT
1. Don't use Autobid it is fundamentally flawed. 2. If you are bidding manually then it is important to have some understanding of how to read accounts, failing that restrict yourself to A+/A rated deals, even somoe of those look a bit dodgy. 3. Expect some bad debt sooner or later.
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ahowlin
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Post by ahowlin on Dec 23, 2014 10:21:34 GMT
I have found a methodology that allows me to sell again!
1. In the Sell Individually function. Set the number of items per page to 500 2. Click on the top of the loan Part ID column to order the list in ascending or descending order ( you may need to wait 30 seconds for this to happen). Then you can fairly easily page up and down the list to find the items you want to sell.
The Accept terms function is still flaky sometimes you need to accept terms before it will show you have ticked the 'accept terms' box.
Hopefully this helps.
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ahowlin
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Post by ahowlin on Dec 23, 2014 10:08:04 GMT
I have been having similar problems with the Sell function since yesterday - same problem today as well. The search function is at best incredibly slow. On the few occasions I have got it to work it took several minutes to return the loan parts I was looking for. Once you get to that point there is about a 50% change you will succeed in listing the part for sale.
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ahowlin
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Likes: 12
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Post by ahowlin on Dec 4, 2014 10:12:32 GMT
The website seems to be working again.
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ahowlin
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Likes: 12
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Post by ahowlin on Dec 4, 2014 9:41:07 GMT
All I get is Server error 502 today
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ahowlin
Member of DD Central
Posts: 68
Likes: 12
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Post by ahowlin on Dec 2, 2014 9:28:36 GMT
I use the Chrome browser and have done so for a long time. Recently every time I tried to login to Funding Circle, I would get Server Error 400. Other browsers were ok. I managed to solve this problem in the end by deleting all Funding Circle Cookies. So I am not sure how the problem arose in the first place but hopefully this will help anyone else who encounters the problem.
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