IFISAcava
Member of DD Central
Posts: 3,664
Likes: 2,988
|
Post by IFISAcava on Dec 4, 2019 18:25:29 GMT
I'm not sure about that. Unbolted seem to be very good at valuing the security and the realised sale value is in a lot of cases much higher than the security value, so we may be pleasantly surprised. Is the interest racking up at the standard rate or some penalty rate? all UB loans are standard rate even in default as far as I am aware
|
|
|
Post by nooneere on Dec 4, 2019 19:00:02 GMT
Are you getting mixed up with the MT court case which is today? Yes, sorry my mistake. Hard to keep up with which court case we are waiting on. Now lets have a look at the MT board. This exchange says a lot about the current state of the P2P industry.
|
|
sd2
Member of DD Central
Posts: 621
Likes: 224
|
Post by sd2 on Dec 6, 2019 21:13:12 GMT
I think it is about time UB sold the pledged goods. As the interest is mounting up we are unlikely to get all the interest owed back. I WANT MY BEER MONEY Problem as I understand it is that it's item by item - so if one item sells for less than accrued interest and one sells for more, they still have to give the excess back to the borrower on the latter and we have to take the loss on the other. Longer period means more chance of losses on some items. Under normal circumstances your right but I reckon the excess may go to unbolted to cover there court costs...he doesn't appear to be able to cough up what he owes them
|
|
IFISAcava
Member of DD Central
Posts: 3,664
Likes: 2,988
|
Post by IFISAcava on Dec 7, 2019 10:33:55 GMT
Problem as I understand it is that it's item by item - so if one item sells for less than accrued interest and one sells for more, they still have to give the excess back to the borrower on the latter and we have to take the loss on the other. Longer period means more chance of losses on some items. Under normal circumstances your right but I reckon the excess may go to unbolted to cover there court costs...he doesn't appear to be able to cough up what he owes them True, but I am not sure the have lien over the funds to withhold them - they might have to go back then be fought over by creditors if he is bankrupt. If they kept them they might be subject to a claim and legal feeS! But I am no lawyer so who knows?
|
|
sd2
Member of DD Central
Posts: 621
Likes: 224
|
Post by sd2 on Dec 8, 2019 19:18:43 GMT
Is the interest racking up at the standard rate or some penalty rate? Is there a penalty rate? Don't think there is. Anyone?
|
|
sd2
Member of DD Central
Posts: 621
Likes: 224
|
Post by sd2 on Dec 8, 2019 19:23:58 GMT
I'm not sure about that. Unbolted seem to be very good at valuing the security and the realised sale value is in a lot of cases much higher than the security value, so we may be pleasantly surprised. Although they are good at valuation (or partners like forum auctions are) it is in the present market conditions. I am not sure if valuation and the money realised from sales won't be considerable reduced in a recession? Particularly them damn watches!!
|
|
markyg61
Member of DD Central
Posts: 340
Likes: 237
|
Post by markyg61 on Jan 17, 2020 15:03:04 GMT
Can anyone enlighten me as to what's happening next ? Are UB awaiting court awarded costs ? When are outstanding loans going to be defaulted and sold off ?
|
|
Mick
Be nice... People respond.
Posts: 138
Likes: 93
|
Post by Mick on Jan 20, 2020 12:03:42 GMT
Im new to Unbolted, can someone get me to speed. Am I correct in thinking there's a moratorium on selling any goods that default?
|
|
archie
Posts: 1,838
Likes: 1,842
|
Post by archie on Jan 20, 2020 13:16:41 GMT
I'm new to Unbolted, can someone get me to speed. Am I correct in thinking there's a moratorium on selling any goods that default? There is a court case involving one borrower. Defaulted goods to that borrower cannot be sold until the court case is resolved. If you are new to Unbolted you won't be involved in any of the loans affected.
|
|
stokeloans
Member of DD Central
Posts: 400
Likes: 484
|
Post by stokeloans on Jan 22, 2020 16:14:25 GMT
Check your emails for an update
|
|
benaj
Member of DD Central
Posts: 4,869
Likes: 1,593
|
Post by benaj on Jan 22, 2020 16:15:47 GMT
😑
|
|
agent69
Member of DD Central
Posts: 5,614
Likes: 4,189
|
Post by agent69 on Jan 22, 2020 16:21:39 GMT
Can firmly booted down the lane for another 6 weeks
|
|
travolta
Member of DD Central
Posts: 1,458
Likes: 1,167
|
Post by travolta on Jan 22, 2020 16:29:43 GMT
To be fair to Unbolted,they are following due process and it looks like they will get there in the end. Mr Clock ( the Borrower) must be driven by a mystic fairy mechanism.
|
|
|
Post by spareapennyor2 on Jan 22, 2020 17:28:14 GMT
I just want unbolted to claim all costs and expenses against the borrower
|
|
sd2
Member of DD Central
Posts: 621
Likes: 224
|
Post by sd2 on Jan 22, 2020 19:55:51 GMT
I just want unbolted to claim all costs and expenses against the borrower I just want my money. Beer price inflation will mean I will be drinking half pints at this rate.
|
|