nush
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Post by nush on Jul 25, 2016 22:14:22 GMT
showing as repaid on collateral
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littleoldlady
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Post by littleoldlady on Jul 26, 2016 6:55:15 GMT
I still hold part of this. It's supposed to be 2% funded. Is it not showing as repaid? Yes it is now showing as repaid in my account and I have the capital and a few coppers interest back. It never got to much more than 2% funded so I am unclear as to what happened between Collateral and the borrower, or which of them paid the interest.
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fp
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Post by fp on Jul 26, 2016 7:31:04 GMT
Is it not showing as repaid? Yes it is now showing as repaid in my account and I have the capital and a few coppers interest back. It never got to much more than 2% funded so I am unclear as to what happened between Collateral and the borrower, or which of them paid the interest. I'm pretty certain that Gordon said at some point that they had funded it, so I wonder if they have dropped it through lack of investment and stood the interest, or if they have just dropped it from the site. I was never too keen on that one so never had a dabble.
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hendragon
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Post by hendragon on Jul 26, 2016 8:27:44 GMT
I was not in this loan but, like many others, would like Collateral to comment as to how this was dealt with. Gordon do you think you could offer some info please?
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ben
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Post by ben on Jul 26, 2016 8:29:20 GMT
Collateral said that they had fully funded it themselfs before it was launched so maybe the borrorower has recently just paid it back.
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Post by Collateral Rep on Jul 26, 2016 8:56:49 GMT
Morning,
Yes we did fund the film, which has been made and is in post production.
The company has since refinanced and repaid the loan.
Many thanks,
Gordon
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jimc99
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Post by jimc99 on Jul 26, 2016 10:08:50 GMT
I want it shown clearly, on the page inviting my investment, exactly how much I have already lent to this borrower. One (commercial) borrower has multiple loans on raw gemstones and other collections, and I probably have enough exposure to him. Hi - Could I ask how you know that several loans have been made to the same borrower. Very useful information to have.
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fp
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Post by fp on Jul 26, 2016 10:19:15 GMT
I want it shown clearly, on the page inviting my investment, exactly how much I have already lent to this borrower. One (commercial) borrower has multiple loans on raw gemstones and other collections, and I probably have enough exposure to him. Hi - Could I ask how you know that several loans have been made to the same borrower. Very useful information to have. It was pointed out that a jeweller was adding items, and it was fairly obvious in some cases which were his/hers. The first two loans today look as though they could be from the same source, as there was little other information I have not funded the loan on the same basis as oldgrumpy
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jhma
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Post by jhma on Jul 26, 2016 16:03:51 GMT
Agree with several comments above.
At minimum I have suggested adding 'new borrower' to the item description where appropriate.
Better, I would like to see a borrower ID (perhaps a four-digit number) included with each item.
It does (sometimes) seem obvious when items are from the same source - but not always! Even though the items may be 'owned' by Collateral the resale price does not seem to be 'guaranteed' and an ideal outcome would be when the borrower buys back. I don't want to find myself in the situation where for multiple loans a single borrower is not able to, or does not want to, redeem the items, ending up in a recovery situation for a bunch of connected loans that originally appeared independent.
I'll be looking at ramping back individual investments without some solution to this.
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Post by Collateral Rep on Jul 26, 2016 16:18:14 GMT
Evening,
We will look into how best to do this for us at the moment.
It may we just look at adding a reference in the description.
Many thanks,
Gordon
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littleoldlady
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Post by littleoldlady on Jul 28, 2016 13:58:56 GMT
A plus point with C is the speed with which one can build a diversified portfolio. In 3 months I have 50 loans, and I could have had more if my fingers had been faster.
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dermot
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Post by dermot on Jul 29, 2016 12:57:01 GMT
And my first loan has just repaid both capital and interest without any drama, which is encouraging.
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n
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Yet another Nick
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Post by n on Jul 29, 2016 13:17:48 GMT
And my first loan has just repaid both capital and interest without any drama, which is encouraging. Although it is an early repayment, so tells us nothing about how a recalcitrant borrower would be dealt with.
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treeman
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Post by treeman on Jul 29, 2016 13:24:11 GMT
And my first loan has just repaid both capital and interest without any drama, which is encouraging. Out of interest and for future reference, did you receive email notification of the repayment?
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n
Member of DD Central
Yet another Nick
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Post by n on Jul 29, 2016 13:36:12 GMT
I had an email thus: LOAN REPAYMENT NOTICE Dear ***, We are pleased to confirm that [verbose description without any ID numbers] has now been repaid in full. All investors should now have their capital along with any outstanding interest credited to their Collateral accounts. If you have any queries, please feel free to contact us. Kind regards, The Collateral Team www.collateraluk.com
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