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Post by Deleted on Mar 28, 2015 15:45:23 GMT
There's a loan to a company involved in fruit and veg on which micro loan trading was suspended nearly 2 months ago because of a CCJ. In early Feb ReBS said they were contacting the borrower about it but despite requests for information there has been no information provided to investors despite requests. I find the communication to be poor and think lenders should be kept better informed. ReBS must have information on the situation by now so why haven't lenders been told what's going on.
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Post by Deleted on Apr 1, 2015 0:02:30 GMT
This isn't uncommon. The platform, as middleman, will inevitably favour one side or the other and the writing's been on the wall with this platform for some time. They certainly should not hide loans in default: it produces a distorted impression in potential new investors as to how many of the loans are in trouble. I for one was certainly not aware of this one and I watch this platform fairly closely as it's one of the very best for detailed information. If you want to get a feel for the lay of the land in p2p finance, REBS is probably the best one to watch. Nevertheless, it doesn't seem very ethical to keep people in the dark about the extent to which loans are underperforming. Full disclosure is always the best policy, even if your priority is to please the borrowers. That's a perfectly legitimate priority to have but the borrowers need to know what's going on.
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