dorset
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Post by dorset on Jul 4, 2018 19:08:50 GMT
Just had a Wednesday default (39341) 8 payments from 60 then belly up.
Something serious is going on at Fraudulent Contracts. Have made steady above average returns since early 2012 then since March this year defaults going through the roof which for the four months March to June 2018 has given me my first capital loss.
I am very diversified (1230 separate loans) so please tell me that this is not also happening to the aggregate loan book?
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Post by GSV3MIaC on Jul 4, 2018 20:00:14 GMT
We can't tell .. the "black box" has now been lead-lined, so all attempts to probe the interior are even more futile than they already were. I could refer you to Funny Claims postings about increased transparency, but they were nuked along with their private forum. The exit is -> over there, if you need it.
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ashtondav
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Post by ashtondav on Jul 5, 2018 17:11:53 GMT
The F.C. Investment Trust would be duty bound to report any adverse trends on defaults. So far their only warning on dividends has been because of hedging costs on the US loans.
I often wonder if my F.C. p2p wedge would be better invested in the IT?
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dorset
Member of DD Central
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Post by dorset on Jul 5, 2018 18:13:59 GMT
True but they may feel that this is simply a blip and not a trend?
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coogaruk
Hello everyone! Anyone remember me?
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Post by coogaruk on Jul 5, 2018 18:17:05 GMT
I often wonder if my F.C. p2p wedge would be better invested in the IT? Or FC shares when they float?
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dorset
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Post by dorset on Jul 9, 2018 12:55:44 GMT
A Monday morning default (29365) two hours ago.
Presumably defaults are now so thick and fast that they cannot all be fitted in on Thursdays.
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ferdy
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Post by ferdy on Jul 9, 2018 13:26:00 GMT
A Monday morning default (29365) two hours ago. Presumably defaults are now so thick and fast that they cannot all be fitted in on Thursdays. And 39503 has defaulted today also.
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Stonk
Stonking
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Post by Stonk on Jul 9, 2018 14:09:53 GMT
11955 as well
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Post by GSV3MIaC on Jul 9, 2018 14:25:40 GMT
Since they have, iirc, stopped sending out Thursday 'defaulted this week' summaries. there is probably no reason to batch them up any more. Never did make a lot of sense to pretend bad stuff only happened one day a week.
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blender
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Post by blender on Jul 9, 2018 14:28:57 GMT
Every (working) day is default day. However, I have a feeling that they are not in a hurry to default. You would think that if they are notified that a borrower is going into liquidation without making a single repayment, then they might default it rather than just downgrade it. Delaying the loss?
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Post by Badly Drawn Stickman on Jul 9, 2018 14:34:16 GMT
We are currently in the 59xxx's, so I guess that was quite well established? 39503 obviously more recent. Given we are dealing with a black box fitted with tamper proof screws, maybe give a bit more background on age etc. Will make it easier to judge the empathy levels to offer (I am led to believe appearing concerned is the social norm).
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blender
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Post by blender on Jul 9, 2018 15:39:41 GMT
The black box distributes ancient pre-loved parts, as well as the parts of brand spanking new loans. Although the defaulting part may be old, it may be new to the unlucky recipient. Perhaps FC will generate appropriate sympathy and empathy guidelines.
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c88dnf
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Post by c88dnf on Jul 9, 2018 19:59:58 GMT
The black box distributes ancient pre-loved parts, as well as the parts of brand spanking new loans. Although the defaulting part may be old, it may be new to the unlucky recipient. Perhaps FC will generate appropriate sympathy and empathy guidelines. They probably have a "highly experienced" sympatico team working on those as I write. So expect absolutely nothying of value in due course (in all senses).
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Post by Badly Drawn Stickman on Jul 9, 2018 22:21:50 GMT
The black box distributes ancient pre-loved parts, as well as the parts of brand spanking new loans. Although the defaulting part may be old, it may be new to the unlucky recipient. Perhaps FC will generate appropriate sympathy and empathy guidelines. They probably have a "highly experienced" sympatico team working on those as I write. So expect absolutely nothying of value in due course (in all senses). I suspect a reworking of the old classic ' We thank investors for their patience' would suffice. Probably as simple as replacing patience with 'unawareness'. Luckily to date I have managed to 'free' any unwanted loans back into the wild.
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blender
Member of DD Central
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Post by blender on Jul 10, 2018 8:17:33 GMT
FAQ: 
Q. How sorry should I be for investors who have had a default and ask for sympathy on forums? A. You should suggest that the investor should not concern his/herself with individual defaults, but should try to see only the aggregated predictions. Be assured that we are keen to spread the rewards of investing fairly, statistically. We are continually striving to remove from the platform all information which might cause upset, and which is not strictly necessary to your enjoyment of lending. This includes information which is not easy to understand, and may cause stress to those without special knowledge or education, any education.
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