pier2pier
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Post by pier2pier on Jun 14, 2019 14:57:39 GMT
update - investors to get an e-mail next 24/48 hours, dont see this being good news
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Mousey
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Post by Mousey on Jun 14, 2019 15:06:37 GMT
There was a case due to be heard at the High Court tomorrow which is linked to this loan and the Land in Lytham St Annes one: BL-2019-000*** fundingsecure Limited v C******* and others But this has now been removed from the listing. Further research suggests this may have already been heard (possibly today).
Ah don't know if you saw this post on the other thread.
The case was removed from the listings very late in the day so was listed in mistake or settled out of court at the last minute. Evidence suggests there has been a case this week though.
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michaelc
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Post by michaelc on Jun 14, 2019 15:50:54 GMT
Think is linked to the Property in Great H*****Wood .
Defer to Mousey's expertise, but doesn't look good unless maybe the settlement was enough to pay back capital and interest.....
I hope not another p2p platform getting screwed over by a shrewd developer.
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rocky1
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Post by rocky1 on Jun 14, 2019 16:14:31 GMT
just checked why i gambled a good amount on these loans.surely a loan with a LTV OF 17.07% even in default should return capital at least.it is LTV and not LTGDV.cant wait for these confidential emails.
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adrian77
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Post by adrian77 on Jun 14, 2019 16:45:55 GMT
'Sir - how very dare you make such a preposterous and egregious suggestion!
I am sure all our fears will be allayed and it has all been a huge misunderstanding - yeah right!
All this confidential mailing to loan holders really annoys me and I am not convinced it is legal as all investors in the platform are entitled to know how the loan book is performing. However I have the cost of 10 chip butties invested in this one so just can't wait for the update!
I just wonder if this will be another late out of office hours email...just checked it is 1745 and still not arrived.
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rogerthat
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Post by rogerthat on Jun 14, 2019 16:50:52 GMT
I just wonder if this will be another late out of office hours email...just checked it is 1745 and still not arrived.
Was wondering the same thing..strange perhaps to forewarn by mail 2hrs in advance and yet nothing arrive..bad (or good) news wont change whether it arrives now or later but to notify in advance and then not send, seems unusual even for FS. Another reason why they're going for an automated response system maybe ?
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rs
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Post by rs on Jun 14, 2019 17:02:58 GMT
I just wonder if this will be another late out of office hours email...just checked it is 1745 and still not arrived. Was wondering the same thing..strange perhaps to forewarn by mail 2hrs in advance and yet nothing arrive..bad (or good) news wont change whether it arrives now or later but to notify in advance and then not send, seems unusual even for FS. Another reason why they're going for an automated response system maybe ?
I haven't received the confidential email yet. However i'm 90% certain that it'll lead to a nice massive capital loss coming but FS will trying to recover it through PG or valuer claim!
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rogerthat
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Post by rogerthat on Jun 14, 2019 17:05:24 GMT
Just been looking at the Jan 17 valuation..17% LTV and £5.5m+ valuation !
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jun 14, 2019 17:06:47 GMT
'Sir - how very dare you make such a preposterous and egregious suggestion! I am sure all our fears will be allayed and it has all been a huge misunderstanding - yeah right! All this confidential mailing to loan holders really annoys me and I am not convinced it is legal as all investors in the platform are entitled to know how the loan book is performing. However I have the cost of 10 chip butties invested in this one so just can't wait for the update! I just wonder if this will be another late out of office hours email...just checked it is 1745 and still not arrived. All lenders aren't parties to the contract, so it would probably be 'illegal' to reveal confidential information to non-parties. Last time I checked 24-48hrs isn't 2hrs later so 5.45 was possibly a little optimistic.
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kielbasa
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Post by kielbasa on Jun 14, 2019 17:12:25 GMT
What is the point of sending an email update out saying that FS are going to send an email update out in 24 to 48 hours?
It seems as pointless as sending a letter to your granny saying I'm writing to tell you that I will be sending you a birthday card in the next day or two.
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adrian77
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Post by adrian77 on Jun 14, 2019 17:17:52 GMT
I meant - we are on target for a late week-end out of office hours update - now why would FS do that! I was recently told my estimate of an overall 75% loss on my outstanding loans was a tad premature - well I wonder!
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michaelc
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Post by michaelc on Jun 14, 2019 17:56:18 GMT
Having received their email, I'm now more willing to cut FS a bit of slack. They're obviously doing something and they are under new ownership since just before Xmas. Bringing all loans under control would take time I imagine.
It also brings up the question of how much information should we as investors share? Perhaps at the very least, notice of court cases and such should go in DDC to reduce the risk of the borrower being notified ?
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arby
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Post by arby on Jun 14, 2019 18:17:24 GMT
Having received their email, I'm now more willing to cut FS a bit of slack. They're obviously doing something and they are under new ownership since just before Xmas. Bringing all loans under control would take time I imagine. It also brings up the question of how much information should we as investors share? Perhaps at the very least, notice of court cases and such should go in DDC to reduce the risk of the borrower being notified ? I agree with the sentiment, but any borrower with a few minutes to spare a day could easily gain access there. It's a tough call.
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jo
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Post by jo on Jun 14, 2019 18:31:30 GMT
I meant - we are on target for a late week-end out of office hours update - now why would FS do that! I was recently told my estimate of an overall 75% loss on my outstanding loans was a tad premature - well I wonder! Friday night 'drive bys' seem to be part of the P2P DNA these days.
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arby
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Post by arby on Jun 14, 2019 18:36:00 GMT
I meant - we are on target for a late week-end out of office hours update - now why would FS do that! I was recently told my estimate of an overall 75% loss on my outstanding loans was a tad premature - well I wonder! Haha You used to say 50%, but then you got a 100% recovery on the land rover, so that good result means the remaining loans look worse! 😂 When you have one loan left you'll be able to predict a 100% loss on all remaining loans! However, the time to get down to one loan, I'm not sure any of us will be here to laugh....
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