markdirac
Member of DD Central
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Post by markdirac on Apr 27, 2015 20:19:45 GMT
I wonder if anyone can anyone suggest why there is such enthusiastic support for the video maker? His loan parts are still selling, easily, and at a decent premium. Whereas other borrowers in a similar position - Mr. Mushroom - will not sell, and borrowers in a better position - the SIPP provider, who has been up-front about his difficulties, is not selling either - and not unsurprisingly. But the video maker surprises me.
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Vero
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Post by Vero on Apr 28, 2015 1:32:43 GMT
I wasn't in the others, so can't comment, but I was in the video maker until the 2nd late payment, when I sold up on principal.
Yes, the parts sold very quickly on the aftermarket, in minutes I recall.
It seems the borrower is struggling, but hopes to have new work on the horizon - perhaps needs some business advice? I hope it works out for them, as well as lenders.
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kevinkelly
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Post by kevinkelly on Apr 30, 2015 8:17:09 GMT
Too many lies.
Too many broken promises.
Too many excuses.
I entered into a "partnership of sorts" when I provided my chunk of the funding. The "partner" in this enterprise has failed to deliver his side of the bargain and has yet to provide a reasonable and believable explanation as to why he thinks it OK to not pay me when payment is due.
On a wider note, all the while that lenders can fail to meet their obligations with impunity, this will continue to be an issue for lenders. Borrowers have no reason to pay on time unless they feel like it. There's no mechanism in place to actively and positively encourage borrowers to meet their obligations unless and until they default on their loan.
In future, I intend to quickly offload any loan that is late on 2 consecutive occasions. Problem is that from a borrowers viewpoint, my dumping the loan will have ZERO effect. Why should they care who holds loan parts, or who sells loan parts?
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Apr 30, 2015 9:12:06 GMT
If you are a new lender to ReBs, this looks like a good deal. 19.8% Buyer Rate, and get two extra months interest (one owed, one due). That's over 23%. Just gotta hope the borrower repayments catch up by June as planned.
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Post by sceptic on Jun 15, 2015 3:06:01 GMT
I wonder if anyone can anyone suggest why there is such enthusiastic support for the video maker? His loan parts are still selling, easily, and at a decent premium. Whereas other borrowers in a similar position - Mr. Mushroom - will not sell, and borrowers in a better position - the SIPP provider, who has been up-front about his difficulties, is not selling either - and not unsurprisingly. But the video maker surprises me. Mr Mushroom is a fully private concern, hence a bad guy. Mr Video supports community initiatives and so on, hence a good guy. I wish it wasn't as simple as that but I'm sorry to say it is. In the real world both are idiots and symptomatic of what's to come for virtually all these debt-laden companies.
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shimself
Member of DD Central
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Post by shimself on Jun 15, 2015 9:19:02 GMT
I wonder if anyone can anyone suggest why there is such enthusiastic support for the video maker? His loan parts are still selling, easily, and at a decent premium. Whereas other borrowers in a similar position - Mr. Mushroom - will not sell, and borrowers in a better position - the SIPP provider, who has been up-front about his difficulties, is not selling either - and not unsurprisingly. But the video maker surprises me. Mr Mushroom is a fully private concern, hence a bad guy. Mr Video supports community initiatives and so on, hence a good guy. I wish it wasn't as simple as that but I'm sorry to say it is. In the real world both are idiots and symptomatic of what's to come for virtually all these debt-laden companies. But Mushroom has real security, a charge on property
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james
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Post by james on Jun 24, 2015 4:48:18 GMT
I wonder if anyone can anyone suggest why there is such enthusiastic support for the video maker? His loan parts are still selling, easily, and at a decent premium. Whereas other borrowers in a similar position - Mr. Mushroom - will not sell, and borrowers in a better position - the SIPP provider, who has been up-front about his difficulties, is not selling either - and not unsurprisingly. But the video maker surprises me. A SIPP provider? Interesting. But is it really the SIPP provider doing the borrowing? Or is it one of their customers? Either would be a first for me - first time I've heard of a SIPP provider's customer borrowing via P2P or first time for a SIPP provider for that matter. Will be interesting to see how it goes whether it's the provider or one of their SIPP customers. I assume it's quite thoroughly late with missed payments, so wonder what the excuses/reasons are. If it's a SIPP customer I suppose it could be borrowed for a building project that's runing late. For a SIPP provider, maybe just slow business or similar? (shrug). Interesting loan, whatever it is. Anyone care to indulge my curiosity without naming anyone, of course?
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