michaelc
Member of DD Central
Posts: 4,891
Likes: 2,767
|
Post by michaelc on Mar 3, 2023 20:32:33 GMT
I can't see the updates for that loan. I seem to recall there was something special about it some years ago. Its been repaid with full interest and capital? That would be great for those invested and the platform. While looking, I noticed one loan I used to be in (1148 - Staines and another property). I don't recall being told at the outset that a close relative of the borrower was resident in one of the properties. Maybe I'm wrong. In any case, these IMO are just the kinds of things that the FCA could mandate all platforms disclose. But they don't. We will see but looking good. All your loans got fully repaid with full interest as I recall. They did but I lost a fair amount in FundingSecure, Lendy, Colateral and even MoneyThing. That is why I have completely lost my trust in all social lending platforms. I think there is potential which is why I keep an interest but I'm surprised very few of my fellow investors seem to articulate a need for the FCA or some other body to tighten up what platforms must publish and when.
|
|
Greenwood2
Member of DD Central
Posts: 4,247
Likes: 2,692
|
Post by Greenwood2 on Mar 3, 2023 20:39:45 GMT
We will see but looking good. All your loans got fully repaid with full interest as I recall. They did but I lost a fair amount in FundingSecure, Lendy, Colateral and even MoneyThing. That is why I have completely lost my trust in all social lending platforms. I think there is potential which is why I keep an interest but I'm surprised very few of my fellow investors seem to articulate a need for the FCA or some other body to tighten up what platforms must publish and when. So the one platform that has been good to you, apparently you don't like?
|
|
|
Post by scepticalinvestor on Apr 12, 2023 13:59:15 GMT
Out of interest, how much did this sell for eventually?
|
|
iRobot
Member of DD Central
Posts: 1,657
Likes: 2,450
|
Post by iRobot on Apr 12, 2023 15:08:46 GMT
Out of interest, how much did this sell for eventually? Unfortunately, you need to swap out 'did' for 'will'. The situation is, as they say, 'ongoing'.
|
|
michaelc
Member of DD Central
Posts: 4,891
Likes: 2,767
|
Post by michaelc on Apr 12, 2023 22:14:20 GMT
They did but I lost a fair amount in FundingSecure, Lendy, Colateral and even MoneyThing. That is why I have completely lost my trust in all social lending platforms. I think there is potential which is why I keep an interest but I'm surprised very few of my fellow investors seem to articulate a need for the FCA or some other body to tighten up what platforms must publish and when. So the one platform that has been good to you, apparently you don't like? I can't understand why anyone would like any of them after what has happened to the sector.
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Apr 13, 2023 10:21:38 GMT
So the one platform that has been good to you, apparently you don't like? I can't understand why anyone would like any of them after what has happened to the sector. What sector are you talking about? SoMo is a bridge lender, not a P2P platform (this may have been pointed out previously). I'm unaware of any general problems in the bridge lending sector.
|
|
bababill
Member of DD Central
Posts: 525
Likes: 243
|
Post by bababill on Apr 14, 2023 3:27:43 GMT
If it acts like a duck......
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,870
Likes: 11,097
|
Post by ilmoro on Apr 14, 2023 7:00:29 GMT
It's a witch ... burn it! 😁
|
|
Greenwood2
Member of DD Central
Posts: 4,247
Likes: 2,692
|
Post by Greenwood2 on Apr 14, 2023 9:41:29 GMT
It's a witch ... burn it! 😁 Coincidentally my quacking frogs are back.
|
|
Greenwood2
Member of DD Central
Posts: 4,247
Likes: 2,692
|
Post by Greenwood2 on Aug 4, 2023 10:10:46 GMT
Full email update to lenders, you could write a book!
|
|
michaelc
Member of DD Central
Posts: 4,891
Likes: 2,767
|
Post by michaelc on Aug 4, 2023 17:45:17 GMT
Full email update to lenders, you could write a book! I think they removed this from view for those not sufficiently adventurous to lend on it didn't they? Remind me plz of the loan number? It is good news I hope though ?
|
|
Greenwood2
Member of DD Central
Posts: 4,247
Likes: 2,692
|
Post by Greenwood2 on Aug 4, 2023 19:53:12 GMT
Full email update to lenders, you could write a book! I think they removed this from view for those not sufficiently adventurous to lend on it didn't they? Remind me plz of the loan number? It is good news I hope though ? 1028. They stopped posting updates because the borrower seemed to have access to the updates and were using it to their advantage. Update only for lenders, seems like at least the beginning of the end, borrower was still being 'difficult' right up to the possession. It gives me real confidence in Somo they do not give up however difficult the borrower is, or how long it takes, or how expensive it is. Not sure how much we should post it's all really legally convoluted, although now mainly finished I hope.
|
|
|
Post by seisman on Aug 31, 2023 13:32:25 GMT
Urgent Action Required: Protect Investor Interests, Safeguard (P), and Seek Justice
Dear Esteemed P2P Investors,
We, as vested charge holders in 52 W*******d Road, E*******n, Birmingham B15 3QQ: have a pressing matter that requires immediate attention from all stakeholders. The situation at hand affects not only the interests of investors like you but also raises serious concerns about the integrity of the P2P lending landscape and the platform treatment of borrowers and investors legal rights. It is essential to recognize the gravity of this issue and its potential implications.
Clarifying the Situation: Allow us to present you with the accurate details of the case. A retired, medically unwell pensioner—hereafter referred to as (P)—signed a loan agreement under severe duress. What is crucial to note is that the platform consciously drew up the loan as a business loan, flouting regulations and disguising the borrower's home of over 40 years as collateral. The platform's intentional evasion of legal obligations while exploiting a vulnerable consumer, (P), is undeniable. Two separate legal opinions corroborate this reality, and we possess the evidence to substantiate these claims.
The Car Accident's Impact: The narrative takes a darker turn with (P)'s involvement in a car accident in January 2018. The accident rendered him incapacitated, stripping him of his mental capacity. (P) Went from being a legally aware individual to someone unable to comprehend the complexities of legal proceedings. However, despite his compromised mental state, (P) found himself unexpectedly entangled in a settlement that was not only secret but fundamentally fraudulent in nature.
The Opaque Settlement: The alarming aspect of this settlement is that (P) was not consulted about it. He had no knowledge of its existence, let alone gave informed consent. It was an impossible settlement—one that he, in his incapacitated state, could not have comprehended or agreed to. This glaring oversight raises questions about transparency, ethical practices, and the true intentions of those involved.
Manipulating the Legal System: The platform, fully aware of (P)'s circumstances, capitalized on his vulnerability. The absence of a trial meant that the platform avoided accountability for their claims and dodged facing the repercussions of breaching regulations. The question we must all ask is: who stands to gain from such a situation?
Our Collective Offer: In light of these developments, we are extending an offer to all investors. We propose a collective buyout of your investments, followed by a united effort to recover your rightful interest for the past six years from the platform. This collective initiative aims to restore legal rights, transparency, accountability, and fairness in the marketplace.
Consequences of Inaction: It is imperative to stress that any disregard for the rights and protections provided under the Mental Health Act 2005 and the Mental Capacity Act is not acceptable. By either contributing to or ignoring such violations, individuals become accomplices to injustice, potentially fraud upon (P). The obligations outlined in these acts are unambiguous and require full compliance.
Immediate Action Required: To expedite the resolution of this matter, we implore all investors within the loan to promptly make contact, upon satisfaction of the conversation and provision of evidence of you being a loan shareholder to share their solicitor's details. This information will enable us to coordinate our efforts effectively and drive such progress.
Join Our Collective Mission: As stakeholders in this issue, we have a shared responsibility to uphold ethical practices, protect (P), secure your investments, and ensure a just outcome. P2P Investors should be willing to connect in the interests of justice. We are a Charge Holder B*****y Ro*d at the usual place the Male a G can be a com. Confirm your commitment, search the HMLR, search Companies House, these are public domains for your usage and to protect your interests!
A Call to Action: The urgency of this situation cannot be overstated. Now is the time to unite, support (P), safeguard your returns, and restore justice to a deeply flawed system which has been abused by careful considered actions, not that the model of P2P is flawed but that unscrupulous platforms can abuse both borrowers and investors by setting them against one another to only gain themselves, this was never the intention of Peer-to-peer lending and borrowing.
Consider this: (P) holds an exchanged contract of sale at £2.5million that has always been able to be completed by him or his family, and us, even now. In his best interests and yours, you should allow this contract to complete so you can sue/demand collectively from the platform the last six years full interest on your investments, which have been cleverly and systematically eroded by low valuation and denial of the contract completing.
You could have invested that money elsewhere: for returns you are going to be denied, the loss caused by the platform! The LPA works with the platform! The Agent works for the LPA! – NO ONE is working for the best interests of (P) nor the investors, except us! – Therefore, legally by Act of Law no one except us is complying with the Mental Capacity Act 2005!
(P) Is losing over £1million at the age of 83 that should be for his retirement, medical care and HIS enjoyment: You are made part of this fraud, defrauding, upon him if you do not act lawfully to make the platform, accountable for its actions! The platform early defaulted, where there was no default and it sent people to smash in with pick axes after failing to land grab by drilling out locks two days earlier 21 and 23 June 2017! – Factual, Police attended, stopped the land grab, trespassing.
Q, Was, The Civil action was started to stop the Criminal Trespass and Theft prosecutions!
With unwavering determination, Action Fraud is now involved: Why don’t you investors come and have a conversation with him and us for the truth and to discover the misleading broken promises of his supposed legal team (paid for by the Claimant in conflict of interests!) who failed to meet with him since 2018 and during the last six years, following fraud being alleged, met him for the first time in late 2021, and then for only the second time at Court 02 August 2022 where they promised him the legal opinion they used to give away his home to the Claimant without any trial of the Claimants claim. These are the people who to suit their own purposes agreed delay after delay by consent orders between them that have cost both the Borrower and Investors huge losses of sums, interest and default fees! Nothing to do with (P) or the family, who are the only real losers as well!
They all broke their professional promises and misled (P) and to date have never provided Counsels Opinion: Both Counsel and Solicitor misled him, promised (P) the Opinion but have never provided it, because they are aware it is a fraudulent instrument used to gain another fraudulent instrument, the 2020 Tomlin and Schedule settlement, an abuse of process, procedural irregularity, abuse of CPR Part 21.10. His home has only been appropriated because of use of that Counsel Opinion Instrument, as it was used.
P2P Bridging Marketplace Shout-out: Anyone else affected by dealings with this firm in any way, anyone else please get in touch to speak about your experiences, good and bad?
SEISMAN: [B*****y Ro*d Inv*st****s L*****d] is a Charge holder in a lawful exchange with (P)
Vested Charge holders and Advocates for P2P Investor and Borrower Rights
|
|
dh1
Member of DD Central
Posts: 373
Likes: 383
|
Post by dh1 on Aug 31, 2023 15:23:08 GMT
I wonder where this is coming from? It sounds like an earlier post, now vanished... Perhaps one for the moderators?
|
|
Greenwood2
Member of DD Central
Posts: 4,247
Likes: 2,692
|
Post by Greenwood2 on Aug 31, 2023 16:20:38 GMT
I wonder if he's read Somo's version of events? Which I believe.
Edit: Why didn't he just pay back the loan when due, if he had the prospect to sell for more than the due amount?
|
|