Late payment or default of a P2P loan

Simple Crowdfunding operates a flexible approach to debt recovery, which is always geared towards what is most likely to achieve the best result for investors and is informed by the circumstance and behaviour of the borrower leading up to, and during times of distress.

Any default and chasing activity history is recorded against the fundraiser record.

We do not believe that a ‘one-sized’ approach is viable and Simple Crowdfunding must approach each situation mindful of how to best appeal to the fundraiser in distress to get the optimum recovery.  This includes:

  • Creating the right type of relationship at inception of the loan – underpinned by our human interaction and desire to understand the principals’ motivations and credibility
  • Pre-chasing repayments automatically
  • Chasing monies due on day of receipt, and if delays advised communicating appropriately with both fundraiser and investors
  • Not being too rash with regarding to formal legal letters etc.
  • Not being too late regarding formal legal letters etc.

Whilst communication alone won’t solve the issue, it enables Simple Crowdfunding to pass on coherent updates to investors and stay in communication with the people that are ultimately going to resolve the situation in a positive manner.


Can't find your answer?

We're here to help. Get in touch and we’ll get back to you as soon as we can.

Contact us
Search all FAQs
HOW MUCH CAN I INVEST? WHAT ARE THE FEES TO INVESTORS? AM I ABLE TO INVEST IF I LIVE OUTSIDE OF THE UK? INVESTMENT RISK - CAN I LOSE SOME OR ALL OF MY MONEY WHEN INVESTING? IF I NEED MY FUNDS, WILL I BE ABLE TO GET MY MONEY OUT WHENEVER I WANT? ARE LEVELS OF RETURNS GUARANTEED? WHAT IS CONSIDERED TO BE A SENSIBLE INVESTING STRATEGY? ARE MY INVESTMENTS PROTECTED BY THE FINANCIAL SERVICES COMPENSATION SCHEME (FSCS)? P2P INVESTMENT RISK - WHAT HAPPENS IF THERE IS A PROBLEM? P2P FUNDRAISERS - WHAT HAPPENS IF A P2P FUNDRAISER RUNS INTO DIFFICULTY? WHAT HAPPENS WHEN I INVEST INTO A P2P INVESTMENT? WHAT HAPPENS IF SIMPLE CROWDFUNDING CEASES TO OPERATE? TAX BENEFITS AND IFISA INVESTMENT RISK WHAT HAPPENS TO THE VALUE OF MY SHARES IF THE COMPANY ISSUES NEW SHARES (DILUTION)? WHEN DOES DILUTION OCCUR? WHAT IS SIMPLE CROWDFUNDING'S INVOLVEMENT AFTER THE FUNDRAISE? WHEN DOES MY INVESTMENT START? WHAT FACTORS DO YOU CONSIDER WHEN DECIDING WHETHER OR NOT TO LIST A P2P LOAN? REVIEW UNDERTAKEN BY SIMPLE CROWDFUNDING IN RESPECT OF P2P LOANS WHO SETS THE PRICE OF THE P2P LOAN? LATE PAYMENT OR DEFAULT OF A P2P LOAN SECONDARY MARKET FOR P2P CAN I INVEST THROUGH MY COMPANY? CAN I, MY COMPANY OR TRUST INVEST MORE THAN ONCE? WILL PEOPLE BE ABLE TO SEE IF I HAVE INVESTED? CAN I SHARE INFORMATION ABOUT THE PROJECT, RAISE OR INVESTMENT WITH OTHERS? WHO DO I TRANSFER FUNDS TO? CAN I CANCEL MY INVESTMENT? WHAT HAPPENS IF THE TARGET AMOUNT IS NOT REACHED? WHAT HAPPENS IF THINGS GO WRONG? WHAT ARE THE RISKS ASSOCIATED WITH INVESTING? TAX CONSIDERATIONS WHEN INVESTING DO I HAVE TO PAY TAX ON MY RETURNS? DOES SIMPLE CROWDFUNDING DEDUCT TAX ON BEHALF OF ITS INVESTORS? HOW DO I CALCULATE MY TAX LIABILITY? WHAT HAPPENS TO MY INVESTMENTS IF I DIE?