SteveT
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Post by SteveT on Apr 22, 2016 15:57:56 GMT
rebsrep , in case your team haven't seen the latest info added to the loan Q&A, this borrower now has yet another FC loan filling this afternoon for almost £70,000 (following on from the one I notified you of yesterday). I trust this further FC loan now has ReBS' approval and is specifically intended to pay off the ReBS loan? However it doesn't really tally with the loan update that Michael posted last night?
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Post by rebsrep on Apr 22, 2016 18:32:10 GMT
Yes we're fully aware of RHIFI on the other platform and the change in status today, funds are on hold with the other P2P provider I.e. they aren't releasing the funds as yet.
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SteveT
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Post by SteveT on Apr 22, 2016 19:20:58 GMT
Good news indeed. Glad we caught it in time before FC released the funds to them and leverage was lost.
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Post by rebsrep on Apr 25, 2016 18:45:18 GMT
There is an update from us on this one on the relevant page on rebs. In short the new requirement on the other p2p platform is indeed to redeem the loan on our platform.
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SteveT
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Post by SteveT on Apr 28, 2016 14:56:34 GMT
There is an update from us on this one on the relevant page on rebs. In short the new requirement on the other p2p platform is indeed to redeem the loan on our platform. Sadly however, FC have today cancelled the further £69k loan without explanation. So what now? Will ReBS issue a written demand for repayment of the original loan?
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Post by betterthanworking on Apr 28, 2016 16:55:21 GMT
...but the first FC loan has not been pulled. Could it be that FC want a higher rate given their discovery of the ReBS loan?
edit: silly me, the first loan has already drawn down.
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Post by captainconfident on Apr 29, 2016 12:46:45 GMT
Thanks very much to the d*ckheads with stakes in this ReBs loan who were shrieking on the FC q&a about that second loan, demanding it be used to repay this ReBs loan, when that was the very intention of the borrower. They cleverly pointed out that the ReBs loan was months behind in payments and that information presumably caused the cancellation.
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Post by lynnanthony on Jul 21, 2016 2:25:47 GMT
Hmmm
I only have one loan left with Rebs; this one, to the tune of just under £100. Yet if I log in and look at my dashboard, there is nothing at all listed under "my loans", and "Investments, capital employed" shows zero. That strikes me as very odd.
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Steerpike
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Post by Steerpike on Jul 21, 2016 7:01:38 GMT
Hmmm I only have one loan left with Rebs; this one, to the tune of just under £100. Yet if I log in and look at my dashboard, there is nothing at all listed under "my loans", and "Investments, capital employed" shows zero. That strikes me as very odd. Dashboard/Est.Loss/See Breakdown?
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Post by lynnanthony on Jul 21, 2016 8:14:30 GMT
Hmmm I only have one loan left with Rebs; this one, to the tune of just under £100. Yet if I log in and look at my dashboard, there is nothing at all listed under "my loans", and "Investments, capital employed" shows zero. That strikes me as very odd. Dashboard/Est.Loss/See Breakdown? Thank you, you are right, it is there. But (and surely this has been commented before), it seems a very odd, sneaky even, non-intuitive way of displaying it. Estimated loss shows £18.40. Breakdown shows Amount £92.00. Recovery probability shows 80%. Now, maybe I'm being pedantic here, but "Recovery probability" sounds to me like it means "Likelihood of full recovery" or possibly "Likelihood of any recovery", whereas showing an estimated loss of £18.40 (=20%) it looks like they mean " Probable recovery" of 80%.
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jonno
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nil satis nisi optimum
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Post by jonno on Jul 21, 2016 9:14:36 GMT
Dashboard/Est.Loss/See Breakdown? Thank you, you are right, it is there. But (and surely this has been commented before), it seems a very odd, sneaky even, non-intuitive way of displaying it. Estimated loss shows £18.40. Breakdown shows Amount £92.00. Recovery probability shows 80%. Now, maybe I'm being pedantic here, but "Recovery probability" sounds to me like it means "Likelihood of full recovery" or possibly "Likelihood of any recovery", whereas showing an estimated loss of £18.40 (=20%) it looks like they mean " Probable recovery" of 80%. Much debate about this "imaginative" approach on the following thread. Just thank the Lord that you had the extreme wisdom to trust such a small investment with this lot. I take my hat off to you.
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Liz
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Post by Liz on Jul 21, 2016 15:15:27 GMT
Dashboard/Est.Loss/See Breakdown? Thank you, you are right, it is there. But (and surely this has been commented before), it seems a very odd, sneaky even, non-intuitive way of displaying it. Estimated loss shows £18.40. Breakdown shows Amount £92.00. Recovery probability shows 80%. Now, maybe I'm being pedantic here, but "Recovery probability" sounds to me like it means "Likelihood of full recovery" or possibly "Likelihood of any recovery", whereas showing an estimated loss of £18.40 (=20%) it looks like they mean " Probable recovery" of 80%. Agreed. Or maybe Probable recovery rate: 80%. From experience, I believe recovery rates quoted by platforms, are overly optimistic. Even loans with great security, often have little left once the company is in distress and runs down assets. Also fees, insolvency practitioners etc, will "devour" a big chunk of any remaining assets.
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