How does those P2P Lending Company handle defaults?
novex last edited by
I do understand some country p2p lending company they have safeguards fund to handle default for investor. Does Malaysia or Singapore have this kind of SOP?
Hey @novex, methods and practices in handling defaults, tend to differ across the platforms, and they communicate to stakeholders throughout the process, legal actions in similar yet unique ways. You may check out these threads:
[SG] Discussion on legal actions by P2P platforms started by @DC :
[SG] Discussion on recovery process by MoolahSense started by @DC: https://crowdfundtalks.com/topic/261/p2p-moolahsense-moolahsense-recovery-process-part-2
[MY & SG] How fellow investors assess the situation and act in the event of a default https://crowdfundtalks.com/topic/459/what-do-you-do-when-you-encounter-a-default-note
[SG] @Bendahara explains defaults and elaborates on how he interprets a single default loan:
[MY] Financial blogger @bursagoinglong explains more on what a default is, and the events which could follow: