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Post by ablrate on May 9, 2019 14:13:24 GMT
Looks like some wheels have been set in motion - three loans (that have paid no interest for months anyway) are paused for "restructuring", hopefully we will see some income from these loans again and a resolution will be reached. I'll be scrutinising the feasability of the new arrangements with great interest. ablrate , can you provide any further comment at this stage or will we have to wait for the addendum updates? There are full addendums (addenda?) coming, so we don't want to pre-empt and let everyone get the information at the same time.
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sj
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Post by sj on May 9, 2019 21:21:28 GMT
Totally fair enough, thanks for letting me know
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applets
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Post by applets on May 10, 2019 16:10:26 GMT
Looks like some wheels have been set in motion - three loans (that have paid no interest for months anyway) are paused for "restructuring", hopefully we will see some income from these loans again and a resolution will be reached. I'll be scrutinising the feasability of the new arrangements with great interest. ablrate , can you provide any further comment at this stage or will we have to wait for the addendum updates? There are full addendums (addenda?) coming, so we don't want to pre-empt and let everyone get the information at the same time. Update on site. Great work Abl.
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Post by stevem on May 10, 2019 16:44:52 GMT
There are full addendums (addenda?) coming, so we don't want to pre-empt and let everyone get the information at the same time. Update on site. Great work Abl. Good stuff
Don't ask me how I spotted it, but somehow I noticed that there are 2 payments due on 20/02/2022 and none on 20/03/2023 on 105 - presumably a bug ?
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ped
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Post by ped on May 10, 2019 16:50:58 GMT
Updates coming through as I type, great work ABLrate, no loss of interest (payments rolled into loan amount) and loans starting back up payments next week!
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Post by Ace on May 10, 2019 17:01:57 GMT
Excellent work ablrate, a better outcome than I had feared. I very much appreciate the platform assisting lenders by forgoing it's fees on these loans going forward. A rare and honourable position, and not for the first time from ABLrate.
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SteveT
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Post by SteveT on May 10, 2019 17:11:00 GMT
Excellent work ablrate, a better outcome than I had feared. I very much appreciate the platform assisting lenders by forgoing it's fees on these loans going forward. A rare and honourable position, and not for the first time from ABLrate. What he said! Nice job ablrate
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blender
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Post by blender on May 10, 2019 17:11:02 GMT
Really good news for lenders on these three loans.
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SteveT
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Post by SteveT on May 10, 2019 17:17:18 GMT
Interesting thought: I presume the capitalisation of the unpaid accrued interest means that, at the point one’s holding is sold via the SM or ultimately is redeemed by the borrower, it will give rise to a capital gain (as opposed to interest income). Can anyone confirm or correct?
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alanh
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Post by alanh on May 10, 2019 17:18:02 GMT
This is exactly why Ablrate are my favourite platform. Great communication and a perfectly acceptable outcome. Thank you.
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mickj
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Post by mickj on May 10, 2019 17:38:56 GMT
Good work Ablrate, nice news going into the weekend
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Post by df on May 10, 2019 18:44:44 GMT
Excellent! Don't have many good news on troubled p2p loans these days. Another tick box added to Ablrate - I trust Abl is doing the best possible job looking after investors' funds.
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iren
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Post by iren on May 10, 2019 20:19:40 GMT
Interesting thought: I presume the capitalisation of the unpaid accrued interest means that, at the point one’s holding is sold via the SM or ultimately is redeemed by the borrower, it will give rise to a capital gain (as opposed to interest income). Can anyone confirm or correct? I took it when I read the update that the amount outstanding on my portion of the loan, as shown in my "Current Investments", would show an increase. But it doesn't, so I don't know how "capitalisation" of interest has been performed.
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Post by ladywhitenap on May 10, 2019 20:31:01 GMT
You might find at each zero re-payment the capital outstading will go up by the original value of the interest.
LW
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hazellend
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Post by hazellend on May 10, 2019 20:46:52 GMT
Anybody know the outcome for lenders on crowdstacker?
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