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Post by Ace on Apr 29, 2022 7:10:18 GMT
This loan has now started drawing on the Interest Cover Fund. There appears to be no cause for concern as the LTGDV is less than 28%, virtually all development risk has passed and an offer in excess of the GDV has already been received. Only 1.42% of our capital is currently deployed in this loan (1.47% of total platform loans).
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Post by Harland Kearney on May 3, 2022 12:49:50 GMT
Will be interesting to see developments, small or big as we have seen on other P2P platforms its the attutide & action (or inaction) that counts as the flag for future handling of defaults. So far so good.
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agent69
Member of DD Central
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Post by agent69 on May 7, 2022 10:31:19 GMT
To avoid starting a new thread can somebody clarify the 'loan status' of loans in general:
- Live - interest being paid, everything is ok?
- Extended (No ICF) - the end date has been extended and interest is being paid by the borrower, everything is ok?
- Extended (ICF) - the borrower is no longer paying interest, but it is being covered by what is effectively a provision fund. First step to defaulting the loan and recovering assets?
- Default (No Suspension - No ICF) - no interest being paid. Receivers have been appointed?
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Post by Ace on May 7, 2022 11:08:30 GMT
To avoid starting a new thread can somebody clarify the 'loan status' of loans in general:
- Live - interest being paid, everything is ok?
- Extended (No ICF) - the end date has been extended and interest is being paid by the borrower, everything is ok?
- Extended (ICF) - the borrower is no longer paying interest, but it is being covered by what is effectively a provision fund. First step to defaulting the loan and recovering assets?
- Default (No Suspension - No ICF) - no interest being paid. Receivers have been appointed?
No, some of those are not correct. Here's the definitions from the platform FAQs: We allocate each loan a status as outlined below which can be viewed at any time in My Loanbook:
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