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Post by mostlywrong on Mar 5, 2015 21:50:43 GMT
I have thought of a couple of things...
Only bung cash at FC in round figures (£1k, £2k etc) at any one time. It is then easier to spot that FC's computer is on a go-slow and your account total does not match "cash in" plus "net interest earned".
Unless you are an ardent flipper and sell your loan parts very quickly, you will take losses. I have had 3 loans fail in their first 3 months; one didn't even bother setting up the direct debit...
Tax: I don't know about the others but I report all my losses (and recoveries) as a capital loss using self-assessment. If you are not on self-assessment, you will have to tell the taxman that you are receiving untaxed interest.
MW
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Grezza
Member of DD Central
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Post by Grezza on Mar 5, 2015 22:29:24 GMT
Oh, and on this forum you are expected to refer to the platform by inane and often euphemistic pairs of words .... as I have done thrice.  Don't worry about whether your chosen duo phrase has been done before. I'm not even sure Fishnet Cabbages read our comments any more. As the saying goes 'the devil makes work for idle hands' so with it being quiet on Fake Collateral auctions once more, I've done a bit of digging......please bear in mind that the 'That website again' is not visible to me, and these results are what I have gleaned from the visible FC threads and posts. There have been 63 different euphemisms used as far as I can see, Fumbling Circus has been used most (3). The first usage I see is on 2/2/15 at 10.26pm by david42, I have a feeling this may have been first used before this time, on the 'That website again' thread but I stand to be corrected on all these figures, and I may have missed the odd one! oldgrumpy has euphemized the most times (15), 5 more than his closest rival. (I can use my database to make up weird new ones just by selecting an 'F' and 'C' at random.....eg Flying Custard...dang it, got to update the database now!) Special award goes to blender, for his inadmissible in the FC stakes, but admirable 'Finally Clearing Spare Loanparts', which I believe was Funding Circle Solutions Ltd in the context of filling loans.
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fasty
Member of DD Central
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Post by fasty on Mar 5, 2015 23:48:48 GMT
Only use autobid if you are keen to buy the rubbish that I'm trying to get rid of, like the ones that were late last month  With practice, a brief review of upcoming auctions can usually separate the potentially worthwhile from the junk. I have a few really simplistic measures, for example I look at whether the credit score graph is going up or downwards! Avoid the temptation of stuffing Flatulent Chicken with money when rates are poor; use the opportunity to dispose of unwanted loan parts instead.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Mar 6, 2015 0:04:00 GMT
Oh, and on this forum you are expected to refer to the platform by inane and often euphemistic pairs of words .... as I have done thrice. Don't worry about whether your chosen duo phrase has been done before. I'm not even sure Fishnet Cabbages read our comments any more. As the saying goes 'the devil makes work for idle hands' so with it being quiet on Fake Collateral auctions once more, I've done a bit of digging..... .please bear in mind that the 'That website again' is not visible to me, and these results are what I have gleaned from the visible FC threads and posts. There have been 63 different euphemisms used as far as I can see, Fumbling Circus has been used most (3). The first usage I see is on 2/2/15 at 10.26pm by david42, I have a feeling this may have been first used before this time, on the 'That website again' thread but I stand to be corrected on all these figures, and I may have missed the odd one! oldgrumpy has euphemized the most times (15), 5 more than his closest rival. (I can use my database to make up weird new ones just by selecting an 'F' and 'C' at random.....eg Flying Custard...dang it, got to update the database now!) Special award goes to blender, for his inadmissible in the FC stakes, but admirable 'Finally Clearing Spare Loanparts', which I believe was Funding Circle Solutions Ltd in the context of filling loans. Don't understand the red highlighted bit. Here it is p2pindependentforum.com/thread/728/website-againLook forward to your updated analysis - I won't still be the winner!!
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Grezza
Member of DD Central
Posts: 152
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Post by Grezza on Mar 6, 2015 10:49:53 GMT
First euphemism usage found by the archivist so far was on 28/11/14 by fasty, which was Fumbling Circus. If anyone knows different, let me know!!!!
Fumbling Circus is the most used - 6 times. The only other repeated one I could find is Fairy Cakes (2) ...and some close ones.... Flaked Cod and Flakey Cod, and Flavoursome Crisps and Flavoured Crisps
Biggest euphemizer - oldgrumpy - 16 times! Still 5 more than anyone else.
74 different euphemisms used.....so far!
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Post by goldservice on Mar 6, 2015 12:06:29 GMT
Grezza - I suppose that somebody's got to say it - please post your list. I guess it should be a separate thread with additions by editing rather than by separate posts. And the thread title? Flowery Circumlocutions?
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coop
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Post by coop on Mar 6, 2015 12:11:32 GMT
This is worthy of a thoroughly maintained database!
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Post by GSV3MIaC on Mar 6, 2015 16:31:09 GMT
Does anyone know at what rate the whole loans do go to single lenders?
If you download the loan book and look at loans with just one part,, I believe you can see the avg rate for those on each loan .. that'll be the rate they get. It is supposed (IIRC) to be calculated from the avg rates achieved on the partial loan auctions, but how they calculate and with what lag/damping eludes me right now. As I have said before (an nauseum, which is what hapens if you get too much cream) they are lelling whole loan buyers skim the cream they want at a price set by what the rest of us pay for (skin milk + whole milk leftovers), which doesn't seem either fair, or sensible (as someone noted, it will cause oscillation - i.e. if the partial loan rates get too low, whole loan buyers stop buying because the rates are low, 2x as many loans then go the partial route, so there are not enough lenders and the rates shoot up, so then WL buyers take everything they fancy at the new higher rates). I think the 'give them 50% of everything' is a much saner idea (although they probably like it better the way it is - they can buy what they want, when the price is what they like).
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Don't worry about whether your chosen duo phrase has been done before. I'm not even sure Fishnet Cabbages read our comments any more.
