mikes1531
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Post by mikes1531 on Oct 10, 2017 14:17:19 GMT
I received an email today requesting a vote regarding this loan. At the moment, there is no mention of it on the Activity tab for this loan, so I will try to word this question so as not to reveal any details that AC may wish to keep confidential. The vote relates to a settlement of the accrued interest proposed by the borrower. Inasmuch as there would be no need for a vote if the borrower was proposing to pay 100% of what was owed, it should be obvious that the settlement proposal was for less than 100p/£. Before voting, however, I would like to know how I would be affected if the proposal were to be accepted. I can see on the website how much accrued interest there is for my active loans, but once a loan's capital is repaid and the loan is moved from the Active tab to the Repaid tab the accrued interest info disappears. As a result, I haven't any idea how much I have at stake in this vote. It clearly isn't appropriate for me to ask for my info via this forum, so I have sent a request to the support team. My question here is... Shouldn't AC have supplied this vital info to all investors before asking them to vote? Perhaps andrewholgate or stuartassetzcapital or chris would care to comment from the AC side. Is there any reason why this info can't be sent out now? |
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Post by chris on Oct 10, 2017 14:20:04 GMT
This is for others to comment on rather than CTO. This is the first I've heard of the loan or issue.
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Post by crabbyoldgit on Oct 10, 2017 14:23:28 GMT
I would have thought this is a case where if investers vote for a reduced return the pf will not make up the difference as per its rules.The pf does not apply as i am only in the mlia , but those who think it may step in and help them may wish to obtain clarity from AC before voting.
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shimself
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Post by shimself on Oct 10, 2017 14:25:49 GMT
Well I agree, it defeats me why AC cannot tell us the personal impact on every vote they send out
Irrespective on this one I voted NO. It's an initial offer I think
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mikes1531
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Post by mikes1531 on Oct 10, 2017 15:28:35 GMT
This is for others to comment on rather than CTO. This is the first I've heard of the loan or issue. : Thanks for taking the time to respond. I take your point that the decision would have to be made by others. The reason I tagged you was more to get a feel for what might be possible technically. Could the accrued interest data be extracted from the AC database and mailmerged into an email to all investors within the few days left before the vote closes? Or could the Repaid tab within Your Loans be modified to display the accrued interest, such that only a generic 'See your AI online' email would need to be sent? Finally, the question of why there is no accrued interest info easily available once a loan's capital has been repaid, and the obvious usefulness of having that data available in situations like this, has been raised in the past. Can you say whether providing this data is on your 'To Do' list -- though obviously not very high on that list -- or whether we need to ask again for it to be put there?
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n
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Yet another Nick
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Post by n on Oct 10, 2017 16:34:54 GMT
This is for others to comment on rather than CTO. This is the first I've heard of the loan or issue. : Thanks for taking the time to respond. I take your point that the decision would have to be made by others. The reason I tagged you was more to get a feel for what might be possible technically. Could the accrued interest data be extracted from the AC database and mailmerged into an email to all investors within the few days left before the vote closes? Or could the Repaid tab within Your Loans be modified to display the accrued interest, such that only a generic 'See your AI online' email would need to be sent? Finally, the question of why there is no accrued interest info easily available once a loan's capital has been repaid, and the obvious usefulness of having that data available in situations like this, has been raised in the past. Can you say whether providing this data is on your 'To Do' list -- though obviously not very high on that list -- or whether we need to ask again for it to be put there? It seems that they can tell you what your accrued interest is, but that there is no way for you to find out from the website yourself. Go figure.
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ianj
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Post by ianj on Oct 10, 2017 17:02:29 GMT
Prior to today, the 'weight' associated with any vote cast was always relative to capital invested. As there is no capital outstanding, will all votes count equal, or will personal outstanding interest determine a voters influence?
It would appear inquitable, to me at least, if someone untroubled by the prospect of losing £X had the same influence as another set to lose £X00.
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trouble
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Post by trouble on Oct 10, 2017 17:52:33 GMT
Prior to today, the 'weight' associated with any vote cast was always relative to capital invested. As there is no capital outstanding, will all votes count equal, or will personal outstanding interest determine a voters influence? It would appear inquitable, to me at least, if someone untroubled by the prospect of losing £X had the same influence as another set to lose £X00. AC have said the vote will be weighted based on interest due to each investor
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jonah
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Post by jonah on Oct 10, 2017 17:55:13 GMT
mikes1531 I’m not in this loan... but they might be a way. Take all the accrued interest on all the loan on the “your loans” page. Then deduct that from the “total interest accrued” which you can add to the top of the dashboard as one of the four customisable sections. In theory that should leave you with interest in loans fully repaid. If there is only one loan in this ‘capital repaid’ state... that might give you the value of AI?
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pikestaff
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Post by pikestaff on Oct 10, 2017 18:46:20 GMT
This is for others to comment on rather than CTO. This is the first I've heard of the loan or issue. : Thanks for taking the time to respond. I take your point that the decision would have to be made by others. The reason I tagged you was more to get a feel for what might be possible technically. Could the accrued interest data be extracted from the AC database and mailmerged into an email to all investors within the few days left before the vote closes? Or could the Repaid tab within Your Loans be modified to display the accrued interest, such that only a generic 'See your AI online' email would need to be sent? Finally, the question of why there is no accrued interest info easily available once a loan's capital has been repaid, and the obvious usefulness of having that data available in situations like this, has been raised in the past. Can you say whether providing this data is on your 'To Do' list -- though obviously not very high on that list -- or whether we need to ask again for it to be put there? The error surely is the transfer of loans such as this one to the Repaid tab. If interest remains outstanding they have not been repaid! If they were put back on the Active tab where they belong, we would see our accrued interest and all would be well. In passing I should mention that I have voted FOR the borrower's proposal. In the circumstances I have no wish to press for more.
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jlend
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Post by jlend on Oct 10, 2017 20:27:48 GMT
I would have thought this is a case where if investers vote for a reduced return the pf will not make up the difference as per its rules.The pf does not apply as i am only in the mlia , but those who think it may step in and help them may wish to obtain clarity from AC before voting. Interesting. AC have promised to make it clear in any vote if one or more if the options would have any bearing on the PF paying out to avoid any abuguity. I haven't seen this in any of the recent votes but I may have missed it.
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mikes1531
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Post by mikes1531 on Oct 10, 2017 21:45:19 GMT
I would have thought this is a case where if investers vote for a reduced return the pf will not make up the difference as per its rules.The pf does not apply as i am only in the mlia , but those who think it may step in and help them may wish to obtain clarity from AC before voting. Interesting. AC have promised to make it clear in any vote if one or more if the options would have any bearing on the PF paying out to avoid any abuguity. I haven't seen this in any of the recent votes but I may have missed it. I think this is a moot point, as I suspect this loan never was eligible to be in the GBBA, so there'd be no PF coverage involved.
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tonyr
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Post by tonyr on Oct 11, 2017 11:05:37 GMT
I only have accrued interest, and have done so for nearly two years now. The loan got into trouble way before the recent sad news, I don't know all the details (like who owns the asset now?) but as I've been owed money for two years it was an easy choice for me - reject the proposal - I can wait another few years if needed.
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mikes1531
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Post by mikes1531 on Oct 12, 2017 3:53:58 GMT
I did write to AC asking how much accrued interest I had, and they did reply with the number. They did not respond at all to my suggestion that they should send this info to all investors so that they could be informed when voting.  |
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