|
|
Post by jordan on Aug 1, 2016 18:34:33 GMT
An Investment Review of Rebuilding Society from the team at Orca Money, displaying performance statistics, security features, platform history and team, products & returns, and other factors for investors to consider: www.orcamoney.com/blog/rebuilding-society-investment-reviewThanks, Jordan Orca Money |
|
kaya
Member of DD Central
Posts: 1,150 
Likes: 718
|
Post by kaya on Aug 1, 2016 18:43:48 GMT
Sounds great! Can't wait to get my double-digit returns with only 0.02% bad debt!
|
|
merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
|
Post by merlin on Aug 3, 2016 8:11:09 GMT
An Investment Review of Rebuilding Society from the team at Orca Money, displaying performance statistics, security features, platform history and team, products & returns, and other factors for investors to consider: www.orcamoney.com/blog/rebuilding-society-investment-reviewThanks, Jordan Orca Money Did it also include details of the Directors salaries? IIRC seeing something seeing about £100k+ salaries being paid/earned.
|
|
|
|
Post by oppsididitagain on Aug 9, 2016 8:31:51 GMT
somehow this doesn't truely reflect the ReBS performance over the last 3 years
The amount of defaults, bad loans in the last 18 months is horrendous, my Portfolio is running at over 10% of bad/late paying loans
There is one certain broker who seems to be bringing loans form places like EzBob to the ReBS platform only for these companies to go into default with in 6 months !
Yet the broker/introducer still get their fee's, even on loans that went bad with in 3 months !!
How some of these loans even got through your credit control is amazing, let alone how the broker can still be allowed to bring you new quality loans again just concerns me..
ReBS you need to start getting some of our monies back from the defaulted parties, 0% recoveries so far for me.
It also seems any of the guarantees that are stated on the application, don't have any credibiliity when you actually try to make a recovery !!
We find out they had more debt elsewhere which wasn't even stated on the application !
|
|
|
|
Post by rb5286 on Aug 9, 2016 10:13:38 GMT
somehow this doesn't truely reflect the ReBS performance over the last 3 years The amount of defaults, bad loans in the last 18 months is horrendous, my Portfolio is running at over 10% of bad/late paying loans There is one certain broker who seems to be bringing loans form places like EzBob to the ReBS platform only for these companies to go into default with in 6 months ! Yet the broker/introducer still get their fee's, even on loans that went bad with in 3 months !! How some of these loans even got through your credit control is amazing, let alone how the broker can still be allowed to bring you new quality loans again just concerns me.. ReBS you need to start getting some of our monies back from the defaulted parties, 0% recoveries so far for me. It also seems any of the guarantees that are stated on the application, don't have any credibiliity when you actually try to make a recovery !! We find out they had more debt elsewhere which wasn't even stated on the application ! And this ladies and gentlemen, is the whole issue with REBS at this precise moment in time :-) REBS need to start showing that they are capable of 1. Carrying out proper due diligence on loans/borrowers 2. Start recovering some monies ('personal guarantee' now means nothing to me. Might as well verbally say "I promise")
|
|
sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,428
Likes: 1,212
|
Post by sqh on Aug 9, 2016 11:44:55 GMT
The Newsletter is hiding the underlying facts.
ReBs inability to recover defaulted loans is very concerning. Six months ago ReBs said they were going to take a more aggressive recovery procedure. I don't think that has achieved much.
In fact, they are still well behind the curve. In the case of H**** I******** ReBs failed to enact bankruptcy procedings at the first opportunity, despite lender warning. Then ReBs missed a 2nd opportunity to ask lenders if they wanted to enact bankruptcy. ReBs have an opportunity to convict this lender of fraud, but they are making no effort, citing that it would be expensive.
If ReBs refuse to take the necessary action then lenders should be compensated for their losses.
|
|
|
|
Post by es2013david on Aug 9, 2016 11:48:30 GMT
@magenta 14 .. you seek to strengthen our mutual position as lenders but my experience has been that most lenders either don't read discussions or ignore the adverse comments or pointers. Those of us who do some, albeit limited, DD observe irregularities that may or may not be indications of dishonesty, sharp practice or similar, but libel laws prevent us saying applicant xyz is a liar, even if we think it to be the case. Take for example FEH & WD, both operating from the same premises with utter confusion about which firm DC worked for and in what capacity etc. This was highlighted early in the discussion threads, yet both applications filled and both are now in default.
The application tab "overview" "Who are we?" frequently has be guessing. It should tell me what the company is called, what it does, where it is based, who owns it, who runs it and specifically, what the funding is for. The current application by MCPL is a good example of badly composed froth. - it may well be popular in N********m to locals, but a host of pre-existing loans and some erudite comment from other lenders had me running to the hills (I'm not a fitness fanatic so I won't be getting as far as Scotland).
We seem now to have a lack of good propositions coming through, which is a pity - I like the platform, it keeps my brain active and I enjoy the banter from the regulars like yourself, but I miss the insight of those lenders who have, it seems, moved to pastures new.
|
|
kaya
Member of DD Central
Posts: 1,150
Likes: 718
|
Post by kaya on Aug 9, 2016 15:16:07 GMT
ReBS you need to start getting some of our monies back from the defaulted parties, 0% recoveries so far for me. It also seems any of the guarantees that are stated on the application, don't have any credibiliity when you actually try to make a recovery !! We find out they had more debt elsewhere which wasn't even stated on the application ! And what about these 'insurance policies' that are meant to pay out when a borrower defaults? The gym equipment loan, for example, should pay out 50% of the owed amount according to the terms, yet we are still to receive even a word from Rebs, a confirmation, that this policy IS valid, and so WILL pay out if necessary. With 0% recoveries so far on any defaulted loan I have (have there been ANY recoveries on any loan?), I have no reason at all to have any faith in Rebs recovery procedures or 'predictions', and nor thus in their 'projected' net return figures. I am of course wholly open to be persuaded otherwise, but there is only one way to achieve that...
|
|
merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
|
Post by merlin on Aug 11, 2016 17:06:24 GMT
@magenta14 I appreciate what you are doing and what you hope to achieve, however IMHO you are flogging a dead or dying donkey. As long as the owners/directors or managers can scrape a living out of REBS I guess REBS will continue in business.
You have to remember that only a very small fraction of new investors will look at these pages, so they are not to know of the problems that beset current investors and by implication future ones as well. The thing that will catch their eye will be the 15%, 16% and more interest rates that are on offer. If you really want to shake-up REBS write something decent and get it published in daily newspaper. Otherwise don't waste your time on here.
|
|
|
|
Post by dodgeydave on Aug 11, 2016 19:38:34 GMT
REBS were getting involved on this forum and then disappeared.
Was it because difficut questions wanted answering ??
|
|
