r1200gs
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Post by r1200gs on Jan 26, 2023 19:04:48 GMT
So, latest update tells us that there will be more distributions on 2nd Feb, so none today. There is also a long backlog of withdrawals. Bearing in mind how slowly this is happening and how long we'd been waiting for the restart of distributions, why didn't they wait and do all these distributions together. We'd have only made one withdrawal each then! Doh! Because they would have to take less money from us, my best guess. They don't need to be efficient, they are incentivised to be inneficient. After all, what are you going to do about it?
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k6
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Post by k6 on Jan 26, 2023 19:29:21 GMT
So, latest update tells us that there will be more distributions on 2nd Feb, so none today. There is also a long backlog of withdrawals. Bearing in mind how slowly this is happening and how long we'd been waiting for the restart of distributions, why didn't they wait and do all these distributions together. We'd have only made one withdrawal each then! Doh! Because they would have to take less money from us, my best guess. They don't need to be efficient, they are incentivised to be inneficient. After all, what are you going to do about it? Exactly so, and that was my though to not to get into their game ( if there is one ) and withdraw all at once at the very end. Every each one of us has a different situation. If one can handle daily life without a need for an extra £20 then let it accumulate and do it as one go. Also I don't see reason to worry about the safety of our funds once distributed under our accounts .
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Post by rooster on Jan 26, 2023 19:39:26 GMT
So, latest update tells us that there will be more distributions on 2nd Feb, so none today. There is also a long backlog of withdrawals. Bearing in mind how slowly this is happening and how long we'd been waiting for the restart of distributions, why didn't they wait and do all these distributions together. We'd have only made one withdrawal each then! Doh! Because they would have to take less money from us, my best guess. They don't need to be efficient, they are incentivised to be inneficient. After all, what are you going to do about it? " Incentivised to be inefficient".... wasn't that the majority of the the problem with how the clowns were running the company that they are now administering?!
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quidco
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Post by quidco on Jan 27, 2023 9:16:44 GMT
The platform of course used to be able to process incredibly low amounts of money with high volume I seem to recall. Wasn't it possible to buy a 1p loan part?
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Post by df on Jan 27, 2023 12:21:13 GMT
The platform of course used to be able to process incredibly low amounts of money with high volume I seem to recall. Wasn't it possible to buy a 1p loan part?It was. I once bought 1p part, unintentionally. At the time of starvation I tried to buy a larger sum but ended up with what was left (1p), loans on SM were disappearing in a mater of seconds.
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jonno
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nil satis nisi optimum
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Post by jonno on Jan 27, 2023 12:37:17 GMT
The platform of course used to be able to process incredibly low amounts of money with high volume I seem to recall. Wasn't it possible to buy a 1p loan part?It was. I once bought 1p part, unintentionally. At the time of starvation I tried to buy a larger sum but ended up with what was left (1p), loans on SM were disappearing in a mater of seconds.Ah yes I remember that. It really was the mother of all "fastest finger firsts".
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toffeeboy
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Post by toffeeboy on Jan 27, 2023 12:40:16 GMT
Individual approval of each and every payout, taking five minutes per payment...? No, that's conspiracy theory guff, sorry.Administrators have a legal responsibility to maximise the return to creditors. Why is it taking a fortnight? Gawd knows. But it's definitely not because there's some junior clerk having to go and find the login details, navigate menus, read a ream of paperwork, then click "OK", before logging back out again... then onto the next one? Seriously...? 200 a day is one every 4 minutes or so. They have now said it themselves. At their rates, this must be hell for them. Of course they could get three more monkeys to do the work at a fraction of the price, but why would they? If we are talking of doing things sensibly then they would have got all of the distributions ready together and released it all rather than drip feeding it like they are.
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Post by Badly Drawn Stickman on Jan 27, 2023 12:57:18 GMT
200 a day is one every 4 minutes or so. They have now said it themselves. At their rates, this must be hell for them. Of course they could get three more monkeys to do the work at a fraction of the price, but why would they? If we are talking of doing things sensibly then they would have got all of the distributions ready together and released it all rather than drip feeding it like they are. It is very difficult to see the current method as being anything other than a cost generating exercise. It would be interesting to hear how they could defend the actions, or is it just that they have no need to?
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benaj
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Post by benaj on Jan 27, 2023 13:03:03 GMT
Surely if they are going hire someone to do a spreadsheet for distribution per customer for all the money realised, even a three month contract would have all the interim distribution credit by now since last progress report.
£8k to complete all the distribution to lendy lenders accounts?
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rocky1
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Post by rocky1 on Jan 27, 2023 17:52:40 GMT
progress reports also take time.so squeezing every pound they can now out of these and then the final distributions.
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spareapennyor2
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Post by spareapennyor2 on Jan 30, 2023 10:55:02 GMT
DFL006 W/D landed today small consolation prize
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jane
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Post by jane on Jan 30, 2023 15:28:02 GMT
Latest update states: Before i completed the AML checks i was unable to withdraw money. No need for any manual checks. So that is complete bull . How is a manual process going to find who has supplied incorrect or old bank details? Seems like bull again. Just a further attempt to rack up chargeable activity and take more of our money.
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trevor
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Post by trevor on Jan 30, 2023 15:34:37 GMT
Money withdrawn from website 13/1 arrived today.
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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 Jan 30, 2023 16:42:56 GMT
Latest update states: Before i completed the AML checks i was unable to withdraw money. No need for any manual checks. So that is complete bull . How is a manual process going to find who has supplied incorrect or old bank details? Seems like bull again. Just a further attempt to rack up chargeable activity and take more of our money. Confirmation of payee system that has been introduced by banks since maybe?
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rocky1
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Post by rocky1 on Jan 30, 2023 16:47:26 GMT
administration ends 23.5.23 so i guess they will just carry on now fleecing lenders until it is no longer a money spinner for them and just close it all down.
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