Source: Peer2Peer Finance News

RateSetter: RateSetter alters how provision fund will 'charge-off' loans

RateSetter has unveiled changes to its provision fund to alter the way it covers missed payments. Currently, all missed loan repayments and interest are covered by the peer-to-peer lender's provision fund and the whole debt is repaid to investors after the third month of arrears known as a "charge-off." From 29 October, rather than paying [...]The post RateSetter alters how provision fund will 'charge-off' loans first appeared on Peer2Peer Finance News.

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Rhydian Lewis's photo - Co-Founder & CEO of RateSetter

Co-Founder & CEO

Rhydian Lewis

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RateSetter is an online peer-to-peer lending platform that offers personal and property development loans for individuals and businesses. Read more