elliotn
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Post by elliotn on Oct 2, 2018 10:30:08 GMT
The name is ok with us here, because it is held in an 'Innovative Finance' ISA. 'Ad hoc' is so much more snappy than 'making things up as we go along' or 'seat of the pants' amortisation. At least there is a plan and we know where we stand. That's appreciated. I like it (tin, says) đ Reminds me of C2F Revenue Loans where the monthly interest repayment is made but capital amounts are made according to affordability. That perhaps lends itself to âflexible amortisationâ but that implies optionality which is not really the case here, so Iâll merely add âcough-up (or else)â or âwing & prayerâ amortisations.
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hazellend
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Post by hazellend on Oct 2, 2018 10:34:28 GMT
âImprovisedâ and âoff-the-cuffâ would also have been acceptable
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elliotn
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Post by elliotn on Oct 2, 2018 10:42:01 GMT
âI really should have looked at their last accountsâ amortisation.
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Post by ablrate on Oct 2, 2018 10:57:22 GMT
To be fair - we walked straight into this.....
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macq
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Post by macq on Oct 2, 2018 11:28:46 GMT
i might try the phrase next time i pay a bill instead of the "its in the post" trick
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Post by GSV3MIaC on Oct 2, 2018 11:51:55 GMT
While I appreciate the timely and informative update (perhaps ablrate could start a class, for the benefit of some others I won't name) .. it would be nice to know what became of the "big capital injection" that was going to flatten everything.
I mean they paid oiff (much to everyones' annoyance) the portfolio loan, which appeared to be flexible, and probably at a lower interest rate, and then they failed to pay off this one (two), which would have been much saner targets for capital .. IMO.
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blender
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Post by blender on Oct 2, 2018 11:53:18 GMT
It feels like a default and recovery plan, but not being defaulted. Good to have a weapon in reserve, I suppose. So, if it runs for a year, is it safe enough for some ad hoc trading?
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macq
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Post by macq on Oct 2, 2018 12:27:12 GMT
To be fair - we walked straight into this..... With the ad hoc problems and "issues" with connected/cross guarantee loans do you have any plans to revisit the portfolio idea to maybe get a wider spread of borrowers?
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Post by ablrate on Oct 2, 2018 13:21:02 GMT
To be fair - we walked straight into this..... With the ad hoc problems and "issues" with connected/cross guarantee loans do you have any plans to revisit the portfolio idea to maybe get a wider spread of borrowers? We are evaluating three portfolio loans at present.
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Post by ablrate on Oct 2, 2018 13:26:23 GMT
While I appreciate the timely and informative update (perhaps ablrate could start a class, for the benefit of some others I won't name) .. it would be nice to know what became of the "big capital injection" that was going to flatten everything.
I mean they paid oiff (much to everyones' annoyance) the portfolio loan, which appeared to be flexible, and probably at a lower interest rate, and then they failed to pay off this one (two), which would have been much saner targets for capital .. IMO. The equity investor is still there, but we were not prepared to wait before taking action, as we were not getting the information we requested in a timely enough manner. When we took action they basically said to the borrower that they wanted our situation to be 'sorted out to at least a couple of hundred thousand outstanding' before they carried on, hence the borrowers keenness to get something done as quickly as possible.
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blender
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Post by blender on Oct 8, 2018 9:31:29 GMT
"This loan will pay one day late as we adjust the cash flows for default interest.
Posted On 07/10/2018 19:40"
Has the loan been defaulted? Would 'penalty interest' be better?
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Post by ablrate on Oct 8, 2018 9:51:42 GMT
Hi
You are probably right... will refer to it as that from now on... although we just updated the admin notes with new on both and we call it 'default interest'
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kaya
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Post by kaya on Oct 24, 2018 9:08:17 GMT
I will feel more comfortable with this one when at least our first ad hoc repayment is made. Any timetable emerging ablrate?
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Post by ablrate on Oct 24, 2018 14:50:47 GMT
I will feel more comfortable with this one when at least our first ad hoc repayment is made. Any timetable emerging ablrate ?
Yes we are just signing the updated paperwork and we will be able to give you the schedule that they are proposing
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boundah
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Post by boundah on Oct 31, 2018 16:46:49 GMT
Update received today re 12m loan extension. Mostly reassuring (additional debenture, closer supervision, open-book access to transactions) although it appears from the addendum that M** have been playing fast and loose with its loan agreements for quite a while. Let's hope ABL manage to impose some discipline.
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