It is stated that funding societies have 0% default rate. This is untrue being an investor in FS, my portfolio have 6 defaults loans. My account is in negative P/L - Seedly
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Anonymous

Asked on 20 Jun 2019

It is stated that funding societies have 0% default rate. This is untrue being an investor in FS, my portfolio have 6 defaults loans. My account is in negative P/L

Just wanted to highlight that funding societies has 0% default rate

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Kenny Tan
Kenny Tan
Level 3. Wonderkid
Answered on 14 Jul 2019

What i am very sure is that funding societies is not 0% default rate. I have invested over 150 campaigns with them. currently I have 7 loans defaulted, and no regular update from funding societies on how they are recovering the funds. FYI, my portfolio is in red.

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ūüĎć
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Alex Chua
Alex Chua, Pcme at Anderson Junior College
Level 6. Master
Answered on 20 Jul 2019

Just wondering where do you get the information. All p2p platform have faced faults or late repayments. 0% default rate is not a good sign too. You do need to go and clarify.

I also have 2 defaults, still a positive for me. Do not be too greedy and still do your due diligence even within the platforms.

Pm me if you need advice

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ūüĎć
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You should really broadcast that a bit more.

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ūüĎć
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