1000058 - Secured Working Capital Loan - Impact of PPI End?

p2pfan
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1000058 - Secured Working Capital Loan - Impact of PPI End? Aug 26, 2019 15:03:48 GMT david42 likes this

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Post by p2pfan on Aug 26, 2019 15:03:48 GMT

This and similar businesses were heavily dependent on the PPI reclaim business. Now that we're at the 29th August 2019 deadline for these claims, could this business not be hit very hard?

They state in their documentation they're looking at other avenues, such as bank charge claims. But I don't imagine anything will come close to replacing the PPI reclaims party?

ablrate
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1000058 - Secured Working Capital Loan - Impact of PPI End? Aug 29, 2019 8:28:51 GMT SteveT, david42, and 4 more like this

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Post by ablrate on Aug 29, 2019 8:28:51 GMT

We spoke with the company recently and they have been processing a huge amount of claims and that business will run off over time.The loan has amortised to £140k and has very good security. They evaluating several avenues for new business.

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p2pfan
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1000058 - Secured Working Capital Loan - Impact of PPI End? Aug 31, 2019 19:00:01 GMT

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Post by p2pfan on Aug 31, 2019 19:00:01 GMT

Thanks very much for the reply.

I think I'll be giving purchases on this loan a miss, as revenues will collapse with the PPI reclaims circus being over. From my knowledge of other such companies their revenues were heavily dependent on PPI reclaims.

ablrate
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1000058 - Secured Working Capital Loan - Impact of PPI End? Sept 2, 2019 12:11:30 GMT

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Post by ablrate on Sept 2, 2019 12:11:30 GMT

Aug 31, 2019 19:00:01 GMT p2pfan said:

Thanks very much for the reply.

I think I'll be giving purchases on this loan a miss, as revenues will collapse with the PPI reclaims circus being over. From my knowledge of other such companies their revenues were heavily dependent on PPI reclaims.

No worries

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Investment through Ablrate involves lending to companies and therefore your capital is at risk and interest/capital payments are not guaranteed if the borrower defaults. The statements made on this forum are provided for information only, are not intended as a financial promotion