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Post by GSV3MIaC on Jul 23, 2019 16:29:20 GMT
Hi Everyone, There have been many important points raised here. Rather than responding here, I’ve written a fulsome update (sorry it is quite long) and I have added it to the platform. Kind regards Sophie
Good job SophieThing. Is there any reason why the whole article could not be reproduced here, pour encourager les autres? Does not appear to be confidential, but it is your copyright...
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ahowlin
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Post by ahowlin on Jul 23, 2019 17:04:50 GMT
Hi Everyone, There have been many important points raised here. Rather than responding here, I’ve written a fulsome update (sorry it is quite long) and I have added it to the platform. Kind regards Sophie Thanks SophieThing this has gone a long way towards allaying my concerns.
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jsmill
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Post by jsmill on Jul 24, 2019 9:25:48 GMT
Agree with the comments on here. The update was appreciated and I hope the change in strategy is a success. I am currently at about 20% of my highest MT allocation with the CSP loans my only remaining tradable ones. If the incoming loans are of sufficient quality would happily consider increasing my exposure again.
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hendragon
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Post by hendragon on Jul 24, 2019 10:11:20 GMT
It would be fair to say in response to the update that although I disagree with one or two decisions MT have made, I accpet that they have done so with integrity, and the best intentions.
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toffeeboy
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Post by toffeeboy on Jul 24, 2019 11:54:44 GMT
Thanks for the response, the £71 million recovered is mentioned a couple of times. How much of that actually went bad/late and then was recovered and I mean the original repayment date not a date kicked down the road.
Any loan that repays on time/early is great and fantastic news all round but it is the ability to recover loans that go bad that will set companies apart. Lendy appeared to fail completely and still do on loans that go bad the nthe can just gets kicked down the road this is why constantly extending repayment dates annoys lenders as we never agreed to that. There are a couple of loans on the site that should be charging penalty interest now but aren't, I know that most of these won't recover the full capital let alone basic interest but it should still be charged anyway just in case.
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Post by SophieThing on Jul 24, 2019 14:41:22 GMT
Hi Everyone, There have been many important points raised here. Rather than responding here, I’ve written a fulsome update (sorry it is quite long) and I have added it to the platform. Kind regards Sophie
Good job SophieThing . Is there any reason why the whole article could not be reproduced here, pour encourager les autres? Does not appear to be confidential, but it is your copyright... Hi GSV3MIaC, I have considered your suggestion and on balance I'd like to keep it on the platform- the update was really just for MT lenders. It wasn't meant as a sales pitch pour les autres. Kind regards Sophie
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Post by queenvictoria on Jul 30, 2019 17:49:09 GMT
Hi Everyone, There have been many important points raised here. Rather than responding here, I’ve written a fulsome update (sorry it is quite long) and I have added it to the platform. Kind regards Sophie Following Sophie's warm words of explanation and reassurance a week ago it seems MT's communication policy remains unchanged. She did not say it would change, I accept that, but without any change we are left to rely on her assurance that the platform is managing our assets properly. In particular it is now 18 days since MT said there we could expect a FULL update NEXT week on the N-u-L loan. This isn't the first time, or the first loan, on which MT have failed in their obligation to communicate effectively with lenders.
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coop
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Post by coop on Jul 31, 2019 10:42:59 GMT
Looking forward to some sweet sweet updates this week...
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Post by highlevel on Aug 7, 2019 13:43:01 GMT
The poor communication from MoneyThing continues...... "An update will be provided on Monday (5th)" - surprise, surprise it's the 7th and more unfulfilled promises of updates. MoneyThing SophieThing your business appears to be in terminal decline with a raft of defaults and no sign of any pipleline movement or evidence of your supposedly 'new proposition' coming online. You are already in the last chance saloon with many leaders so its time to pull your act together and show some evidence that you are acting in the interests of lenders. As it stands you just look incompetent
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boundah
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Post by boundah on Aug 7, 2019 14:07:49 GMT
The poor communication from MoneyThing continues...... "An update will be provided on Monday (5th)" - surprise, surprise it's the 7th and more unfulfilled promises of updates. MoneyThing SophieThing your business appears to be in terminal decline with a raft of defaults and no sign of any pipleline movement or evidence of your supposedly 'new proposition' coming online. You are already in the last chance saloon with many leaders so its time to pull your act together and show some evidence that you are acting in the interests of lenders. As it stands you just look incompetent Harsh words, highlevel . 'Terminal decline'? 'Last chance saloon'? 'Incompetent'? Granted, there have been a few missed dates, which are annoying, sometimes a little worrying. But my experience overall in the 4 years I've been with MT has been positive, especially compared with other platforms. If you can't cut them a bit of slack maybe P2P's not for you.
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Post by highlevel on Aug 7, 2019 14:19:05 GMT
Happy with P2P as a whole boundah - Funds (minus 4 defaulted loans, which luckily don't amount to too high a sum) moved out of MT months back and reinvested across other platforms. I'm just sick of the stick you head in the sand attitude from MoneyThing. Arranging deck chairs on the Titanic comes to mind.......
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Post by MoneyThing on Aug 7, 2019 14:36:47 GMT
The poor communication from MoneyThing continues...... "An update will be provided on Monday (5th)" - surprise, surprise it's the 7th and more unfulfilled promises of updates. Afternoon. Please note that we did provide the updates we said we would do on the 5th. Kind regards, Ed
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Post by highlevel on Aug 7, 2019 14:58:15 GMT
The poor communication from MoneyThing continues...... "An update will be provided on Monday (5th)" - surprise, surprise it's the 7th and more unfulfilled promises of updates. Afternoon. Please note that we did provide the updates we said we would do on the 5th. Kind regards, Ed "An update will be provided on Monday (5th)" posted on Friday 2nd Followed by, on Monday 5th: "Whilst we were promised a full update on the Bond listing by close of business today, unfortunately this has not been received." and "Further to our update on Friday, we had hoped to get a full update on the progress of the sale today to be able to update lenders" Can you seriously call the above meaningful updates? - To me it reads 'We promised you an update but the borrower (of a loan in a distressed state) hasn't been in contact to provide one - We are just going to kick the can a little further rather than being proactive and chasing for information to provide lenders the update promised' And while we are at it, the old favourite dead parrot - MTBA892 "12/07/2019 - We expect to be in a position to provide a full update on this loan next week"
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Post by captainconfident on Aug 7, 2019 19:15:33 GMT
Could you all lay off MoneyThing. They are one of the few platforms who do engage with us here in spite of this forum being pricklier than barbed wire. They provide assurances to us based on the promises of other parties directly involved in the sale of assets and can only relay those to us, rather than forcing the sale to happen faster themselves.
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marka
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Post by marka on Aug 7, 2019 20:38:35 GMT
Afternoon. Please note that we did provide the updates we said we would do on the 5th. Kind regards, Ed "An update will be provided on Monday (5th)" posted on Friday 2nd Followed by, on Monday 5th: "Whilst we were promised a full update on the Bond listing by close of business today, unfortunately this has not been received." and "Further to our update on Friday, we had hoped to get a full update on the progress of the sale today to be able to update lenders" Can you seriously call the above meaningful updates? - To me it reads 'We promised you an update but the borrower (of a loan in a distressed state) hasn't been in contact to provide one - We are just going to kick the can a little further rather than being proactive and chasing for information to provide lenders the update promised' And while we are at it, the old favourite dead parrot - MTBA892 "12/07/2019 - We expect to be in a position to provide a full update on this loan next week" Would you prefer that MT don't tell you anything until they get some news, or provide a "holding update" on the date promised?
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