jane
Posts: 145
Likes: 214
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Post by jane on May 7, 2020 17:35:44 GMT
I asked RS if they were temporarily diverting 50% of the interest they take on each loan to the Provision Fund, I think from the answer I got we can take that as a no! Note how they don't specify whether it is only being used to protect our capital, or ours and Ratesetters capital.
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sd2
Member of DD Central
Posts: 621
Likes: 224
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Post by sd2 on May 8, 2020 10:29:36 GMT
I bow to your absolute certainty in your superior knowledge of future events
I do not have knowledge of future events, but I seem to be able to do one of the fundamental things I thought humans werre supposed to be good at: spotting patterns and drawing conclusions.
Do I need to give a list of the companies that have already gone into administration, or entire industries that are on the brink of failure without massive restructuring and mind-boggling amounts of state help? Do you not see the huge layoffs that are happening? The 2 million new applications for Universal Credit? Maybe this situation has not affected you -- a lender -- very much, but I assure you it is having quite an effect on a lot of other people -- the kind of people who tend to be your borrowers.
You can hope all you want. Your predictions are worthless, because lots of people are applying for universal credit are going to be on it permanently? Rubbish. "Do I need to give a list of the companies that have already gone into administration, or entire industries that are on the brink of failure" Yes and in the case of the latter prove they are on the brink of failure......here comes the crystal ball!! without massive restructuring and mind-boggling amounts of state help" your now contradict yourself. I have no doubt your also remainer. Always looking for the worse or is it hoping?
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aju
Member of DD Central
Posts: 3,486
Likes: 920
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Post by aju on May 8, 2020 14:11:15 GMT
You will be wanting my additional edit above then. I can see it's a tree and get why you are barking at it, not sure there is anything in the tree that needs barking at though. That is was and always has been for operating costs and trying to make a profit, the profit bit has never really happened so suspect there is no leeway to use that resource. My understanding is the PF element is a cost to the borrower, I doubt they will be willing to pay extra. I'm simply seeing that RS are short sighted when it comes to making business decisions. If they survive this I'd be surprised if they didn't lose a significant chunk of investors and therefore future profit. Sometimes spending a little money to keep your customers happy actually saves you money as a business.My hightlight: I guess they come from the same business schooling as BA, easyjet, Ryanair, Virgin etc - Complete blindness to customer sentiment assuming the customers are stupid bit like the daily briefings too. I guess time will tell as whilst many of them removed the customers ability to get entitled refunds online they will only realise how much customers will remember how they were treated when it came to rights. Mind you I'm not sure hte aviation industry will recover for years but I guess that's another story this virus seems to be a game changer all round...
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aju
Member of DD Central
Posts: 3,486
Likes: 920
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Post by aju on May 8, 2020 14:15:58 GMT
I do not have knowledge of future events, but I seem to be able to do one of the fundamental things I thought humans werre supposed to be good at: spotting patterns and drawing conclusions.
Do I need to give a list of the companies that have already gone into administration, or entire industries that are on the brink of failure without massive restructuring and mind-boggling amounts of state help? Do you not see the huge layoffs that are happening? The 2 million new applications for Universal Credit? Maybe this situation has not affected you -- a lender -- very much, but I assure you it is having quite an effect on a lot of other people -- the kind of people who tend to be your borrowers.
You can hope all you want. Your predictions are worthless, because lots of people are applying for universal credit are going to be on it permanently? Rubbish. "Do I need to give a list of the companies that have already gone into administration, or entire industries that are on the brink of failure" Yes and in the case of the latter prove they are on the brink of failure......here comes the crystal ball!! without massive restructuring and mind-boggling amounts of state help" your now contradict yourself. I have no doubt your also remainer. Always looking for the worse or is it hoping?I was with until you split the vote with your final statement tut tut.... you spelt remoaner wrong I should know I am one!
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mikeb
Posts: 1,053
Likes: 463
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Post by mikeb on May 10, 2020 17:57:32 GMT
Over on covid chat I can't keep up so I gave up both that one and the daily briefings yesterday and I bet i'm just as well informed by missing both to be fair. Mods: As the rate of posting on that thread is higher than the rate of reading, shouldn't there be a lockdown on the thread until R becomes less than 1 again?
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Post by Badly Drawn Stickman on May 10, 2020 19:42:16 GMT
Over on covid chat I can't keep up so I gave up both that one and the daily briefings yesterday and I bet i'm just as well informed by missing both to be fair. Mods: As the rate of posting on that thread is higher than the rate of reading, shouldn't there be a lockdown on the thread until R becomes less than 1 again? No need 99% of the posts are proving negative.
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