david42
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Post by david42 on Feb 14, 2017 13:48:43 GMT
I think the significance of resurrecting the old post is to remind people that SS introduced INPL to provide instant account credit more cheaply than the expensive debit card system they had been using.
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david42
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Post by david42 on Feb 14, 2017 10:48:31 GMT
This bug has been discussed many times before.
There is currently a hidden £649.00 for sale in PBL142 which cannot be sold and just gets passed on to the last person trying to sell. There is no longer anything hidden for PBL088 so it would appear that SS have now fixed this loan.
Tim used to be able to fix these when emailed, but now that SS have expanded the emails might be handled by less experienced staff.
You can find how much is for sale but unsellable by comparing the figure reported on the available loans list with the queue that is reported when you offer a part for sale.
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david42
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Post by david42 on Feb 12, 2017 22:40:50 GMT
Today between 12:27 and 13:51 my internet was down. During that time: PBL101 and 102 had 30 days removed from negativity... (if you see what I mean: they went from -45 days to -15 days). PBL089 similarly went from -103 to -73. Presumably some interest has been paid? I don't think those changes are new extensions. Those new days remaining figures reflect the interest payments already recorded in the earlier updates for those loans. Maybe SS have just updated the time left to match the reported repayments.
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david42
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Post by david42 on Feb 10, 2017 23:28:01 GMT
I equally do not trust this borrower to stick to any repayment plan, given the past record of failed promises. But the additional security, and the involvement of an additional person standing behind the loan, improves the recovery outlook significantly, and I would be happy to give the borrower some leeway in return. And for all our criticism of the softly softly approach Rebs takes on loan recovery, I take my hat off to Rebs in this case for extracting the offer of this additional security.
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david42
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Post by david42 on Feb 10, 2017 22:09:32 GMT
Oh dear. My 12 week loan that was due to repay on 7th Feb is now marked as late. So my statistics are now 2 loans repaid early and 1 loan overdue. I hope that is not a sign of things to come. I have been investing on an expectation of a 7% default rate, as advised by the platform but yet to be justified by any published statistics. My late loan has just repaid, including an extra 2 days interest presumably to cover the delay. I have another 15 loans due to mature in February, so I should have some more meaningful repayment figures to report by end Feb.
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david42
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Post by david42 on Feb 9, 2017 9:51:40 GMT
Oh dear. My 12 week loan that was due to repay on 7th Feb is now marked as late. So my statistics are now 2 loans repaid early and 1 loan overdue. I hope that is not a sign of things to come. I have been investing on an expectation of a 7% default rate, as advised by the platform but yet to be justified by any published statistics.
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david42
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Post by david42 on Feb 8, 2017 20:42:42 GMT
So at the moment the focus is on getting the borrowing half of the platform in shape. Then in the medium-long term future of the platform when borrowing volumes can be allowed to grow safely and sustainability, alternative methods of lender protection (than self diversification) will be firmly on the agenda. Welcome on board WestonKevTMP . I was thrilled to see you had joined TMP, and that you have already started engaging with us. I am pleased to hear that your first priority is to get the borrowing side into shape. I am concerned that there are only £51,500 of loans in place today. With such small loan volumes the platform must be a long way short of covering its costs. What will you be doing to increase the number of borrowers? And what volume do you expect to achieve over what timescale? How long could this platform survive at current loan volumes? I hope we are looking forward to a long and prosperous engagement.
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david42
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Post by david42 on Feb 6, 2017 22:29:20 GMT
I have added the URL to my OpenDNS whitelist so I should stop being blocked in a few hours. Apparently not many of your fans are using OpenDNS! Sorry to have troubled you. Thank you for finding the fault. I too was using opendns. As I don't want to go through the complication of configuring my own white lists I have changed to Google DNS at 8.8.8.8 backup 8.8.4.4 and the charts are working again.
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david42
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Post by david42 on Feb 6, 2017 16:39:38 GMT
I am new to ABL and thought I understood but I am clearly missing something Loan 1000054 a 16% loan has bids at par however the AER is 17%+ whereas I thought it would be 16%. Is there an element of accrued or were these issued on a premium or something ?? If a loan paid 16% interest at the end of every year, then then the AER would be 16%. But a loan that pays interest monthly is slightly more valuable and the Annual Equivalent Rate (AER) assumes you can re-invest those montly interest at the same rate until the end of the year, so the AER is slightly higher than 16%.
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david42
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Post by david42 on Feb 3, 2017 23:42:40 GMT
You fail to engage with my point which is that listing defaults in this thread alongside the "dissuade other people from investing here" comments of other contributors does commercial damage to this loan provider, while nobody performs the same service in the Funding Circle section of the website. I appreciate the factual analysis that dodgydave has helpfully done for us. The equivalent analysis is not needed on Funding Circle because FC already publishes equivalent information in their downloadable loan book. The value of this independent forum is to help us manage our risks by sharing information. If transparent reporting of the facts damages the platform, that makes it all the more important for us to know so that we can better understand and manage the risk.
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david42
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Ablrate (ABL) in Administration
Tax 2015/2016
Jan 16, 2017 21:39:56 GMT
Post by david42 on Jan 16, 2017 21:39:56 GMT
Your second option is to download your financial history, filtered for the dates you want and and for accrued interest and interest paid. This forms the basis of our submission ( which is always from the 6 april to 5th April.) Our tax page will basically be exactly the same thing but printable. Hope that helps. ablrate thank you for clarifying what you are telling HMRC. This confirms you are declaring too much interest to HMRC. As blender explained two posts above you double count the accrued interest by treating the accrued interest differently for the buyer and seller of a loan part. If the accrued interest is taxed as income on the seller, then the buyer of a loan part is entitled to a deduction for the accrued interest he has paid the seller for.
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david42
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Post by david42 on Jan 12, 2017 16:29:20 GMT
I have kept competative offers funded on most of the amounts and periods for the last 3 months. There was more available when they first launched. Buying has been very slow recently.
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david42
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Post by david42 on Jan 11, 2017 19:28:12 GMT
I have had a 12 week loan repaid early after 5 weeks. Another 22 loans outstanding, none yet due to be repaid.
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david42
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Post by david42 on Jan 5, 2017 10:09:40 GMT
Is anyone else having problems accessing the forum today?
The timeout problem seems to have returned for me. I am getting failures about a third of the time with the message: " Error We are experiencing some technical difficulties. Our technicians are aware of this issue and hope to have this situation sorted shortly."
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david42
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The Money Platform (TMP)
feedback
Jan 4, 2017 19:25:04 GMT
Post by david42 on Jan 4, 2017 19:25:04 GMT
I requested a withdrawal yesterday and its not in the bank yet (I'm not concerned but worthy of note that they have had over 24hours and no withdrawal actions have been conducted). When I withdrew some money from The Money Platform last November it arrived in my bank account the next day.
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