Hello,
by popular demand we are going to share the results of defaulted loans recovery process on a monthly basis. We work hard to maximize the return on your investment.
Information about our loan recovery process and a few most interesting recovery stories can be found here.
Our recovery results
Steady growth of recovery from private individuals
In April, Finbee‘s long-standing tradition continues – we have been collecting more and more money from private individuals for 49 consecutive months compared to the same month previous year. In April, we recovered 64.410 Eur from debtors.
Business loans recovery has doubled
In April, we recovered more than twice as much from debtors as in March – 21.895 Eur. The highest amount recovered from one company in April was 6.447 Eur.
What is new?
I would like to share platform updates related to the display of defaulted loans.
1. Once the loan agreement is terminated, you will see it by clicking Portfolio -> Active Loans.
2. From now on the loan schedule may be changed by the court order. Upon termination of the loan agreement, the loan schedule stops: instalments until the termination of the agreement are shown (in the example until 2020-10-12), and the entire balance awarded by the court, including interest, is shown with the last instalment (example on 2022-03-22).
3. There may be a long time difference between the last two installments on the schedule. This is due to the fact that the feature has been programmed in recent months and the date of the last instalment corresponds to the date of termination in the internal Finbee system.
4. The information on some private loans is yet to be updated, we will complete the updates in the near future.
PRO TIP
As the portfolio matures, it is natural that part of the loans will be more than 90 days overdue.
We recommend using an expected inflow chart to evaluate the results of portfolio recovery. In the chart you can compare how much revenue you have received compared to the planned income.
Simas.
