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Post by uksoul on Apr 24, 2021 1:58:15 GMT
The CEO has said in recent interviews development loans are going to be more of the type of loans they offer in the future. Some of the latest loans the borrower has paid the loan interest up front which is a measure of comfort. That's an interesting way to look at it. In reality, the interest is being paid from a retained portion of the funds that were provided by us, the lenders. It is still a small comfort as a slightly smaller portion of the lent capital is actually at risk. Yeah just a small comfort to be precise. .Have you seen the Companies House posting re Kuflink Auditors resigning ?
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alibaba
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Post by alibaba on Apr 24, 2021 7:34:32 GMT
A little concerning?
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Post by Ace on Apr 24, 2021 8:23:18 GMT
That's an interesting way to look at it. In reality, the interest is being paid from a retained portion of the funds that were provided by us, the lenders. It is still a small comfort as a slightly smaller portion of the lent capital is actually at risk. Yeah just a small comfort to be precise. .Have you seen the Companies House posting re Kuflink Auditors resigning ? Would kuflink please comment on the report from their resigning auditors. Particularly with respect to the "material uncertainty in relation to Going Concern" and the damning comment on the level of corporate governance, record keeping, etc.
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Apr 24, 2021 9:06:35 GMT
Market place has just got busy (13 offerings)
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Post by Ace on Apr 24, 2021 9:11:00 GMT
Market place has just got busy (13 offerings) Only 5 available though.
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Post by uksoul on Apr 24, 2021 9:25:25 GMT
Market place has just got busy (13 offerings) Only 5 available though. It was more than double that earlier on, people snapped some good deals on offer. I'll be contacting Kuflink to see if they have addressed the concerns raised.
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Post by Ace on Apr 24, 2021 9:27:08 GMT
It was more than double that earlier on, people snapped some good deals on offer. I'll be contacting Kuflink to see if they have addressed the concerns raised. I've emailed them too.
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Post by uksoul on Apr 24, 2021 9:30:56 GMT
It was more than double that earlier on, people snapped some good deals on offer. I'll be contacting Kuflink to see if they have addressed the concerns raised. I've emailed them too. Good, the more that do it the better it will be..
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Post by uksoul on Apr 24, 2021 10:13:11 GMT
A bit concerned on the issues raised re account manangement but have sent an email asking if things are being done to address the issues. If you have any questions you want answered email them which will encourage them to improve faster.
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p2pfan
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Post by p2pfan on Apr 24, 2021 10:15:50 GMT
That auditors resignation letter is pretty damning.
Getting totally fed-up with P2P. It's such a dirty industry. It seems like when you scratch beneath the service of the majority of P2P companies and their borrowers, you realise they are poorly-run third-rate outfits flying by the seat of their pants. Usually one only discovers this when they go into Administration, when it's too late and you've lost all or most your money, but in this case we're getting an insight from the auditors while the business is a going concern.
Unless Kuflink comprehensively address each of the EY's points head-on, I'll be taking a pause from investing on this platform.
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Post by alexp2p on Apr 24, 2021 15:08:46 GMT
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ilmoro
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'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 Apr 24, 2021 15:15:55 GMT
Only if you want to pay for no reason. Anything available to the public will be free at CH
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dave4
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Post by dave4 on Apr 24, 2021 15:29:05 GMT
E mail requesting an Explanation sent first thing !!
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69m
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Post by 69m on Apr 24, 2021 16:11:05 GMT
The Companies House website is probably the best place.
The Auditor's Report is within the full accounts posted on 24 February 2021. This same document also includes the Directors' Report, which unfortunately seems to use the term 'investor' to describe both shareholders and P2P lenders.
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Post by uksoul on Apr 25, 2021 2:13:02 GMT
That auditors resignation letter is pretty damning. Getting totally fed-up with P2P. It's such a dirty industry. It seems like when you scratch beneath the service of the majority of P2P companies and their borrowers, you realise they are poorly-run third-rate outfits flying by the seat of their pants. Usually one only discovers this when they go into Administration, when it's too late and you've lost all or most your money, but in this case we're getting an insight from the auditors while the business is a going concern. Unless Kuflink comprehensively address each of the EY's points head-on, I'll be taking a pause from investing on this platform. Going by the Directors report they have began to address some of the issues but Kuflink needs to comprehensively address each concern like you said.
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