Asked on 25 Jun 2019
Are there different classes or seniority in p2p loans? For example in bonds, there are different classes which determine who receives the money first in event of default or liquidation.
I will just comment from what I know. I have just experienced my second defaults and have yet to retrieved them.
There is no priority or anything for funding societies in case of defaults.. The money will be returned to those who participated the legal cases, followed by non participant.
For p2p, I would refer to type of loans rather than classes of loan.
Most are business loan or invoice financing or property - backed loan
For minterest, have 'insurance-linked' loans
For funding society, there is capital guarantee loan