criston
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Post by criston on Sept 15, 2021 11:39:37 GMT
We don't aim to be absent on the forum, but as you can imagine we can't comment publicly. We have spent a couple of hours on the phone to the borrower this morning outlining the plans going forward and the schedule of updates that we will be giving lenders. It will probably be best for all concerned that we stick to the formal updates issued on the platform, which we aim to do on a regular (weekly) basis - or when anything material happens. At this time we are working on the information schedule and arranging discussions with all parties involved in each project to better see where our resources can be deployed to assist the borrower regularize the loans. ..and for clarity, yes any funds that would have been allocated to fees, will be allocated to lender payments during this period. We are working through how payments will be made when received and what the quantum of those payments is likely to be. We appreciate that it is a worrying time and we will do all we can to keep lenders informed of the progress, of course we are very motivated to do all we can to get the loans and the borrower back on track. ablrate Would the weekly update be imminent. Only without it, confidence is being lost on the SM with non associated loans as well. Please advise.
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criston
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Post by criston on Sept 15, 2021 13:04:02 GMT
ablrate . Thanks for prompt response. There was no mention of the additional security. Please advise.
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Post by Badly Drawn Stickman on Sept 15, 2021 13:10:07 GMT
ablrate any good reason why the update(s) could not just be attached to the email as well? It would remove a lot of faffing from the process.
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Post by ablrate on Sept 22, 2021 14:20:18 GMT
ablrate any good reason why the update(s) could not just be attached to the email as well? It would remove a lot of faffing from the process. I will have a word and see if it can be done, don't see why not but we use a third party system to avoid spam etc, it might be something to do with that. If it is a quick fix, no issue, but as you can imagine it is all hands to the pump on getting loans back on track... and before I kick off an avalanche of questions; There is a short admin note going out on the AF loans, we have been working towards a solution and believe we have made huge progress since the addendum, some of the other loans, specifically IL pubs are a target of ours. I had a meeting on those Friday, but not ready to give a full update, there is progress. We have been spending time on looking across the book as we are almost free of the Covid scenarios and progress is being made. We hope that in the coming week or so we can have some meaningful detailed updates, you may even see a video.. I would also like to say that the majority of lenders have been unbelievably supportive and patient, for that the team and I are very grateful. It has been a stressful time for all as our number one priority is making sure you get a positive return on Ablrate and it is never pleasant for anyone when things do not go according to plan. I can assure you we are all working very hard on your behalf and we will update you very soon with progress.
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Post by Badly Drawn Stickman on Sept 22, 2021 15:41:31 GMT
ablrate any good reason why the update(s) could not just be attached to the email as well? It would remove a lot of faffing from the process. I will have a word and see if it can be done, don't see why not but we use a third party system to avoid spam etc, it might be something to do with that. If it is a quick fix, no issue, but as you can imagine it is all hands to the pump on getting loans back on track... and before I kick off an avalanche of questions; There is a short admin note going out on the AF loans, we have been working towards a solution and believe we have made huge progress since the addendum, some of the other loans, specifically IL pubs are a target of ours. I had a meeting on those Friday, but not ready to give a full update, there is progress. We have been spending time on looking across the book as we are almost free of the Covid scenarios and progress is being made. We hope that in the coming week or so we can have some meaningful detailed updates, you may even see a video.. I would also like to say that the majority of lenders have been unbelievably supportive and patient, for that the team and I are very grateful. It has been a stressful time for all as our number one priority is making sure you get a positive return on Ablrate and it is never pleasant for anyone when things do not go according to plan. I can assure you we are all working very hard on your behalf and we will update you very soon with progress. I notice this was done on the emails today, thank you it is much better and hopefully will become the norm going forward.
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Balder
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Post by Balder on Sept 28, 2021 7:31:24 GMT
ablrate I see you are still in the not bothered to issue admin notes for late payments mode. What has happened to 100?
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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 Sept 28, 2021 8:39:24 GMT
ablrate I see you are still in the not bothered to issue admin notes for late payments mode. What has happened to 100? I'm told, payment has been received and is being processed this morning.
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brush
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Post by brush on Oct 1, 2021 15:46:36 GMT
123 payment would be a sweet dessert abl.
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markyg61
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Post by markyg61 on Oct 4, 2021 12:00:31 GMT
123 payment would be a sweet dessert abl. I see what you did there !
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Balder
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Post by Balder on Oct 8, 2021 12:40:12 GMT
ablrate 89 admin note perhaps, maybe, should be!
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Post by Badly Drawn Stickman on Oct 8, 2021 13:48:05 GMT
ablrate 89 admin note perhaps, maybe, should be! I think 38 is due one as well. So many red dots it is hard to tell.....
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brush
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Post by brush on Oct 14, 2021 16:39:35 GMT
36 loans in all, 8 paying on time mostly, 8 paying when they feel like it, leaves 20 paying nothing at all. Communication seems at an all time low, patience being stretched, is this going the way of others. Someone please cheer me up (
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Post by df on Oct 14, 2021 18:08:45 GMT
36 loans in all, 8 paying on time mostly, 8 paying when they feel like it, leaves 20 paying nothing at all. Communication seems at an all time low, patience being stretched, is this going the way of others. Someone please cheer me up ( I'm in the same boat, most loans are currently not paying. It will change when when/if AF loans will start repayments again. I'm sure everyone who is over-exposed to AFs is experiencing a similar picture.
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GreenZero
Member of DD Central
The early bird may get the worm, but it's the second mouse who gets the cheese
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Post by GreenZero on Oct 14, 2021 18:27:01 GMT
36 loans in all, 8 paying on time mostly, 8 paying when they feel like it, leaves 20 paying nothing at all. Communication seems at an all time low, patience being stretched, is this going the way of others. Someone please cheer me up ( I'm in the same boat, most loans are currently not paying. It will change when when/if AF loans will start repayments again. I'm sure everyone who is over-exposed to AFs is experiencing a similar picture. I’m in a similar position due to AF loans, although it’s not helped by 38 being late which will probably mean their other loans now won’t be paid on time.
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Post by df on Oct 14, 2021 19:54:52 GMT
I'm in the same boat, most loans are currently not paying. It will change when when/if AF loans will start repayments again. I'm sure everyone who is over-exposed to AFs is experiencing a similar picture. I’m in a similar position due to AF loans, although it’s not helped by 38 being late which will probably mean their other loans now won’t be paid on time. But that's normal for AC* loans, they've been always late for quite a while now. I'm not too worried about them, they do pay eventually.
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