treeman
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Post by treeman on May 8, 2016 16:04:37 GMT
My payment for the 7th for one of the planes doesn't seem to have been given clearance for take off... Same here ...... due one later today too .....
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james
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Post by james on May 8, 2016 21:18:20 GMT
Probably not really due until the first business day from the payment date onwards, though the lender terms don't actually mention that. I don't think that we can reasonably expect borrowers to be repaying on non-business days. I expect Ablrate will clarify on Monday.
The lender terms also say that Ablrate will pay and that doesn't seem like wise wording, lest a borrower not pay and lenders argue that the lender terms clearly state that it is Ablrate that is to do the paying.
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treeman
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Post by treeman on May 8, 2016 21:28:16 GMT
Just checked whilst waiting for MOTD ............ Today's (bottling plant) has been credited but the ATR due yesterday is still outstanding..........
Not a big deal, no seething going on here (!), just frustrating not being kept informed ..........
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jonah
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Post by jonah on May 9, 2016 5:14:39 GMT
Probably not really due to the first business day from the payment date onwards, though the lender terms don't actually mention that. I don't think that we can reasonably expect borrowers to be repaying on non-business days. I expect Ablrate will clarify on Monday. The lender terms also say that Ablrate will pay and that doesn't seem like wise wording, lest a borrower not pay and lenders argue that the lender terms clearly state that it is Ablrate that is to do the paying. Maybe Abl should move to the RS model, lend 7 days a week, but repay only 5 days. At least that way it's slightly more practical. I agree, bottles repaid yesterday, expecting a crate to repay today, but an airplane is still outstanding.
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blender
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Post by blender on May 9, 2016 6:59:45 GMT
Agreed, my payment of £0.00 is late.
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registerme
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Post by registerme on May 9, 2016 8:34:12 GMT
Yep, I'm missing a payment from the 7th.
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jonno
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nil satis nisi optimum
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Post by jonno on May 9, 2016 9:18:41 GMT
I fear we may be about to hear news reports of a man found in Yorkshire with an imploded head
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Post by yorkshireman on May 9, 2016 10:29:42 GMT
I fear we may be about to hear news reports of a man found in Yorkshire with an imploded head No chance. I simply can’t be bothered dealing with any business that is all talk and no action, style and no substance or fur coat and no knickers, pick your own adjective!
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blender
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Post by blender on May 9, 2016 10:50:00 GMT
To be fair they have improved; the fur coat is not displayed to us so often. Pie in the sky would be a more appropriate description.
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treeman
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Post by treeman on May 9, 2016 13:24:41 GMT
ATR from the 7th has now paid
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jonah
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Post by jonah on May 9, 2016 19:35:00 GMT
ATR from the 7th has now paid Yay! This brings me current. Now for the crates (December variety) to come through this evening to keep us on a roll...
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treeman
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Post by treeman on May 9, 2016 19:43:16 GMT
ATR from the 7th has now paid Yay! This brings me current. Now for the crates (December variety) to come through this evening to keep us on a roll... Likewise !
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jonah
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Post by jonah on May 9, 2016 20:22:20 GMT
Yay! This brings me current. Now for the crates (December variety) to come through this evening to keep us on a roll... Likewise ! And it's been paid.
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registerme
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Post by registerme on May 10, 2016 2:10:22 GMT
I met ablrate last week at the "Boats and other things overpriced show" in London, and it was good fun . It was good to meet him, and another forumite, Investboy. We talked about many things, but two things were close to the heart of other forumites - tax returns and payments. I am sure ablrate / ablrateandy will correct me if I have miss-stepped but:- a) tax returns etc are dependent on 1) their lawyers and 2) their developers - they are very aware of how much it vexes us. b) payments could be automated, and will be, when it scales - until then I think that, as much as it annoys, this is part of being invested in (lent to?) a different asset class. Do I have some sympathy with the above? Yes. Do I think we stop holding them to account? No.
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blender
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Post by blender on May 10, 2016 6:59:59 GMT
I met ablrate last week at the "Boats and other things overpriced show" in London, and it was good fun . It was good to meet him, and another forumite, Investboy . We talked about many things, but two things were close to the heart of other forumites - tax returns and payments. I am sure ablrate / ablrateandy will correct me if I have miss-stepped but:- a) tax returns etc are dependent on 1) their lawyers and 2) their developers - they are very aware of how much it vexes us. b) payments could be automated, and will be, when it scales - until then I think that, as much as it annoys, this is part of being invested in (lent to?) a different asset class. Do I have some sympathy with the above? Yes. Do I think we stop holding them to account? No. This may seem harsh but sympathy is misplaced. a). Is it acceptable for a financial services business to launch a product with optional complexities such as instant returns where it is unable to inform lenders of the general tax treatment, let alone provide a tax statement? Note the current apology on another site: "Please note that we are currently updating the downloadable tax statement to reflect the declarable income paid to you, following the new bad debt relief introduced by HMRC in relation to loans that have defaulted since 6 April 2015. Please bear with us, and we thank investors for their patience." What would Albrate say? Perhaps " We have no idea of what the declarable income is - you're on your own". b). We don't care if payments are automated or not. Why should they not be credited to our account on the due date, if Ablrate has the cash from the Borrower? It is entirely in the hands of Albrate. Does Albrate turn up for Board meetings a day or two late? It's a matter of priorities, and the general problem is that Ablrate have a great product concept but no real understanding of running a customer service business.
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