trium
Member of DD Central
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Post by trium on Oct 29, 2019 16:23:44 GMT
In my experience insurers are usually falling over themselves to offer cover and I'm surprised, alarmed even, that this borrower is apparently unable to arrange the agreed Keyman Life Policy. I'm voting No, if only to satisfy myself that there is no undisclosed problem. The borrower's assurance that his health is "fine" isn't quite enough.
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loadsahope
Member of DD Central
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Post by loadsahope on Oct 29, 2019 18:13:29 GMT
Ditto
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Post by Ace on Oct 29, 2019 21:14:12 GMT
It's a no from me. Why should we reduce our security? This is a business transaction, not a charitable enterprise.
It hasn't been satisfactorily explained as to why he can't get the necessary insurance. Why was this not sorted before the money was lent?
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dave2
Member of DD Central
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Post by dave2 on Oct 30, 2019 6:41:59 GMT
Interesting that various loan documentation, including the initial credit reports, show a "last updated date" of yesterday, 29th October.
Has anything been changed on these?
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