I have experienced a defaulted note on this platform. In this article, I am going to share how Capsphere handled the defaulted note. Number of notes invested Since its inception till 11 June 2021, Capsphere has hosted a total of 29 notes. I have invested in 25 of the notes and 1 has defaulted. Process …
In July 2019, I encountered my first defaulted note on Funding Societies Malaysia after two years with the platform. Today, I am glad to say that I have recouped my principal and thus, suffer no loss from this delinquent note. What happened? Funding Societies Malaysia managed to get the note issuer to settle the outstanding …
The thing that I dread finally happened. I have one defaulted note on Funding Societies Malaysia after two years on this platform. Amount involved As it is a partially paid note, I do not suffer a very big loss. In fact, I consider it to be insignificant. Overall, I will incur a 10% loss of …
Fundaztic (Link) changed its management of defaulted notes again after the recent changes that I mentioned in a previous article. What are the changes this time? Termination of email updates Previously, the platform would send the investors emails to update on defaulted notes. However, this service is being stopped from now on. Although the platform …
After the first email regarding my defaulted note in Fundaztic, I finally received an update after six months. So what’s the news? Bankruptcy notice In the email, it is stated that Sealed Judgement Order was obtained and served in early of the year. Fundaztic (Link) has instructed lawyers to file for bankruptcy notice in February. …
This is an update to my December 2018 article about Defaulted Notes in Fundaztic. There are some changes that the platform made and new discovery that I found. New definition of default First, Fundaztic has reclassified defaulted note as a note that is 90 days past due, instead of 60 days as before. This reclassification …
Last month I have talked about management of defaults in Fundaztic. Now, I am going to talk about defaulted notes in Funding Societies. As on 15 January 2019, the default rate is 0.95% (Link). However, I have no direct experience regarding default on this platform yet. Classification of default Funding Societies classifies default according to …
For every loan made, there is always a risk of default. The default rate as on 14 December 2018 in Fundaztic is 2.28%. The amount involved is more than RM 750000 (Link). Recently, there is a note in my portfolio that has defaulted. By Fundaztic definition, a note is considered as default when the borrower misses …
