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Post by gravitykillz on Jun 30, 2019 6:52:46 GMT
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Post by SophieThing on Jun 30, 2019 7:47:21 GMT
Morning,
This is another example of looking for a story when there isn't one. I'll publish my full correspondence with the journalist later on today. I was fully transparent with him and answered all his questions. I only asked him to respect the confidential data that he accessed by (somewhat disingenuously) registering with us as a lender. He decided to make that the story which I find bizarre.
I'd much rather be criticised in the press for not disclosing confidential data, than put our ongoing legal recovery work at risk.
It's a shame he didn't take more time to understand the industry and it's disappointing he continued to publish inaccurate information.
Kind regards
Sophie
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Post by Deleted on Jun 30, 2019 9:46:53 GMT
Its also a shame that MoneyThing are effectively being punished for being more transparent, cautious and pre-emptive than nearly any other platform in labelling loans 'non-performing'.
No wonder journalists are held in such low regard these days. Pitiful stuff.
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Monetus
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Post by Monetus on Jun 30, 2019 10:02:45 GMT
What a joke of a story. Poorly-researched, factually incorrect and with zero understanding of the industry Sorry you even had to deal with this SophieThing
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Post by funkymonkey on Jun 30, 2019 10:16:43 GMT
I don't have a times subscription, any other way of reading the article?
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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
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Post by ilmoro on Jun 30, 2019 10:33:30 GMT
I don't have a times subscription, any other way of reading the article? You should be able to read it if you register, you get two free articles
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Post by queenvictoria on Jun 30, 2019 11:15:45 GMT
I don't have a times subscription, any other way of reading the article? You should be able to read it if you register, you get two free articles I think you get two article a month (or is it a week?) if you register. Its hardly worth reading the article though. It tried to thrown mud at the P2P industry and picks on MT but without any credible facts to back it up. I guess we are going to be reading many more of these though post Lendy and whoever is next to go down.
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Post by SophieThing on Jun 30, 2019 12:37:07 GMT
I have just added this to the platform: Lenders may have read an article published in the Sunday Times today about MoneyThing and P2P lending.
The article is disappointing as it poorly researched and includes a number of factual inaccuracies. For example, it states we have facilitated £88m of loans, when in fact the number is £92m. It also claims 18 loans are non-performing, whereas in fact there are 5 non-performing projects.
The article complains that we have banned the journalist from accessing confidential data on our platform and implies that this means we are not a transparent company. I have banned the journalist from accessing our platform as I had concerns that the journalist may publish confidential data that could compromise our ongoing recovery work. In my view, protecting the interests of our customers in this way is sensible. It does not mean that we are not prepared to answer to the wider questions on our performance, operational practices, default rates and future plans. I have been fully transparent on this matters.
I wrote to the journalist to explain this and also to provide full answers to his questions. In the interests of transparency, I have attached here the email correspondence I had with him earlier in the week.
Please contact me if you have any questions.
Kind regards
Sophie
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registerme
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Post by registerme on Jun 30, 2019 12:48:22 GMT
I don't know how these things work, but is it possible to force them to print a correction / retraction?
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Post by Deleted on Jun 30, 2019 13:24:53 GMT
Lendy and Collateral sh@t the P2P bed, and the media are only now belatedly starting to notice how strong the stench is.
Pity that the whole industry is going to get blamed collectively for the odor.
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p2pmark
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Post by p2pmark on Jun 30, 2019 13:38:17 GMT
I don't know how these things work, but is it possible to force them to print a correction / retraction? Yes. www.ipso.co.uk/complain/Seems like MoneyThing would have a good case regarding the number of loans that are non-performing as this is a clear error by the Sunday Times which is relevant to the article. MoneyThing could also complain that the reason for "locking out" the journalist was not set out accurately (or at least comprehensively). But that is more subjective so IPSO, which is funded by newspapers and magazines, may ignore that.
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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
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Post by ilmoro on Jun 30, 2019 13:52:16 GMT
Perhaps SophieThing you need to talk to the journalist in person. Here's a suggestion for suitable attire (perhaps redone in the correct colours) PS Will make sense to those who read the correspondence from the beginning initial contact.
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Post by funkymonkey on Jun 30, 2019 14:07:11 GMT
Seems like a waste of an article, nothing of any substance in it. Is it big news that a few loans, at 12% interest, have defaulted? There's a reason why they are 12%, and I think the majority of people investing appreciate that, and are capable of deciding for themselves if they accept that risk.
I do like that the journalist can't even spell MT properly in his emails.
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Post by spareapennyor2 on Jun 30, 2019 14:15:56 GMT
putting the HACK in for Journalists would have thought better for the SUNDAY TIMES MONTYGOOD show
edit would think he could do a better hack job at Fumbling Secure
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corto
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one-syllabistic
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Post by corto on Jun 30, 2019 14:22:29 GMT
Let's see what pays back in the next 6 months.
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