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In our “Meet the users” series we present you open and honest interviews with some of iuvo’s users. In our first interview of this series we met you with Doug Wild. Today’s spotlights go to Fernando Nos. He comes from Spain and has experience in P2P for two years now. He has learned about the receivable through the forums, and decided to try adding more than EUR 21,000 purchased in several portals, including iuvo. Fernando is a P2P enthusiast, who is willing to share his personal strategy of receivables with our iuvo community. Check it out bellow.
Since when have you been purchasing of receivables in P2P? How about iuvo?
I have been with you for 2 years, although most of my receivables are not in iuvo, I have special affection for the portal.
For many people it is not expected annual returning to purchase in iuvo, since if the loan is delayed no expected annual return is paid, but for me it is on the contrary, I prefer the stability of the originator who does not go bankrupt or almost bankrupt as Aforti or Eurocent.
Although what worries me the most is the health of the portal and its economic results, since iuvo has been bad for two years in its economic reports and in case of economic crisis, I don’t know how the portal would respond to a large number of defaults.
Can you share with us your most favorite “hack” to earn a better return rate with iuvo?
My only trick is to purchase in 7-day loans with the strongest originator that is Easy credit (5%). I just need security for my receivables. If you develop another product with less expected annual return but greater security there I will be purchased. I believe that 5% is very profitable as things stand and I hope I am not mistaken with Easy credit, and by the way does Viva credit also belong to the same group of companies?
Do you diversify your portfolio by purchasing of receivables in other kind of receivables? If “yes”, share with us.
I am on other p2p portals: Dofinance. Viapurchase, Mintos, Grupeer, iuvo, Neofinance (the insurance they have is very expected annual returning you could do the same) and Reverse
What do you prefer – manual or autopurchase? Why?
First, I made the daily manual receivable seeing the file of each person, (salary, work, etc …). Then I decided to use the autopurchase in 7-day loans with ‘A’ ratings, and currently, it works well although there are enough delays in payments.
What is your personal purchasing of receivables strategy and what kind of return rate you manage to earn by using it?
Getting a gross annual yield of 5% for me is a success, I would purchase more with you if I am offered greater receivable security, and I took back the considerable losses of the portal. I hope to continue with you for many years, provided you do not see the receivable in danger.
How do you decide how much money to purchase – do you dedicate a part of your monthly income for purchasing of receivables or do you have another strategy?
At the moment I have no intention of purchasing of receivables more money in iuvo although if I see considerable improvements in the portal I would not rule it out.
What is the best advice you can give to our P2P newbie users?
Caution, now everything is very beautiful, the question is: in case of severe economic crisis are our receivables safe?
What functionality in iuvo’s portal do you use most often?
The portal is very well developed, for me it is one of the best I’ve seen, much better than Dofinance, Grupeer, Viapurchase, for example. What you should change are the remaining loan terms that create a lot of confusion among users.
What would you improve in iuvo’s platorm?
The explanation of the loan terms I think should be changed, in addition to translating the portal into Spanish
Rate your experience with iuvo’s portal using a 1-5 mark scale – where 1 is the poorest mark and 5 gives us the best mark.
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