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Post by investor01010101 on Feb 1, 2019 15:00:45 GMT
No wonder there are so many BAD loans on my account. Previous update was 29th November, I received an update today (a day late on the AC commitment for an update) saying they have been unable to establish communication with the borrower and they continue to review the merits of instructing a solicitor...........estimated next update 29th March. That really is not good enough, borrowers are getting too easy a ride when they don't comply to the terms and conditions of loans.
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Post by roandy55 on May 13, 2019 16:22:37 GMT
Solictors now also appear to be having difficulty establishing communication with the guarantor.
If I didn't laugh, etc.....next update by 21 June.
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Post by roandy55 on Sept 19, 2019 16:18:58 GMT
A question has been asked as to when GBBA lenders might expect to receive a payout from the provision fund in relation to this loan. Assetz, whilst not dismissing it completely, replied to say when realisation is complete (or when the prospect of further realisation becomes extremely unlikely) the directors can exercise their discretion to trigger the provision fund, provided sufficient funds are available.
Whilst still not holding my breath that I will ever see my outstanding £2.56 and 63p interest again, there does seem to be a better likelihood of them paying out on this loan than D*******M*****. A search agent is still attempting to locate the guarantor who is believed to be somewhere in Ireland.
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m2btj
Member of DD Central
Posts: 626 
Likes: 749
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Post by m2btj on Sept 20, 2019 8:35:17 GMT
A question has been asked as to when GBBA lenders might expect to receive a payout from the provision fund in relation to this loan. Assetz, whilst not dismissing it completely, replied to say when realisation is complete (or when the prospect of further realisation becomes extremely unlikely) the directors can exercise their discretion to trigger the provision fund, provided sufficient funds are available. Whilst still not holding my breath that I will ever see my outstanding £2.56 and 63p interest again, there does seem to be a better likelihood of them paying out on this loan than D*******M*****. A search agent is still attempting to locate the guarantor who is believed to be somewhere in Ireland. Like the Unicorn AC's provision fund may be some sort of mythical entity. You'll know when they've finally made a payment...it'll be all over P2P financial news & used for its PR value. You're in long line of investors watching with interest. In the meantime, I've stopped investing new money.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,839
Likes: 11,068
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Post by ilmoro on Sept 20, 2019 10:50:51 GMT
A question has been asked as to when GBBA lenders might expect to receive a payout from the provision fund in relation to this loan. Assetz, whilst not dismissing it completely, replied to say when realisation is complete (or when the prospect of further realisation becomes extremely unlikely) the directors can exercise their discretion to trigger the provision fund, provided sufficient funds are available. Whilst still not holding my breath that I will ever see my outstanding £2.56 and 63p interest again, there does seem to be a better likelihood of them paying out on this loan than D*******M*****. A search agent is still attempting to locate the guarantor who is believed to be somewhere in Ireland. Like the Unicorn AC's provision fund may be some sort of mythical entity. You'll know when they've finally made a payment...it'll be all over P2P financial news & used for its PR value. You're in long line of investors watching with interest. In the meantime, I've stopped investing new money. You do know that the provision fund has paid out on couple of loans already. I guess you missed the media & PR hype 
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Post by roandy55 on Nov 25, 2019 17:22:27 GMT
Latest update published today.
We seek him here, we seek him there, Assetz seek him everywhere. Is he in heaven? — Is he in hell? That damned, elusive gua-ran-tor.
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Post by budgiebird on Oct 30, 2020 11:22:33 GMT
Well well, on the day I receive an initial provision fund payment for #227, it seems Assetz have also given up on trying to trace the elusive borrower and have paid out on this one as well.
Another one cleared off the books!
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