Post by ozboy on Mar 4, 2017 13:07:01 GMT
My P2P Platform in Oz is quite organised and they're far more straight with their Investors, something from which the UK P2Ps could learn, a lot.
Here's a typical example from the Platform which I thought my Fellow Investors would be interested in, read it and weep, puts the UK P2Ps in the shade by a country mile. If the P2Ps in Oz can take the time and trouble to provide appropriate information, why can't they do it here? :-
Status
On the 30 of December 2016, the direct debit payment for the monthly interest dishonoured. We contacted the owner of the Business who advised us that she had left the business and would be declaring herself bankrupt.
As a result, collection agents, together with a representative of The ABP2P Platform, have begun the collection process.
This process involved our collection agents collecting all the goods on the premises, and proceeding to seek legal remedy against the owner and third parties who may have obtained a benefit from the demise of the owner. The business remains operational and we are informed by the landlord that he is running the business for the time being until a new owner for the leasehold happens.
We have alerted him to our rights, and he informs us that he is speaking with his lawyers on Friday 13 January 2017 to determine his response to our claims.
Your investment is obviously protected by first loss and the costs of the collections and processes are typically paid from the provision account.
This means that at present, you will NOT continue to receive your monthly interest payments.These interest payments will accrue whilst the recovery period is occurring, and then be determined after final funds are calculated.
In relation to all loans on the platform, our resolve is to do everything we can legally to protect our investors. Rest assured, therefore, that in this instance we will do our utmost to effect a full recovery of funds from XXXXXXXXXXXX. We will keep you updated.
Please contact our office at XXXXXXXXXXXX if the matter is urgent.
Kind Regards,
The ABP2P Platform Support Team.
Status
18th January 2017 - We have not heard from the Landlord, so we have now sent a letter to the landlord advising him of our rights and making a demand for him to pay for the Business. We will keep you updated
Here's a typical example from the Platform which I thought my Fellow Investors would be interested in, read it and weep, puts the UK P2Ps in the shade by a country mile. If the P2Ps in Oz can take the time and trouble to provide appropriate information, why can't they do it here? :-
Status
On the 30 of December 2016, the direct debit payment for the monthly interest dishonoured. We contacted the owner of the Business who advised us that she had left the business and would be declaring herself bankrupt.
As a result, collection agents, together with a representative of The ABP2P Platform, have begun the collection process.
This process involved our collection agents collecting all the goods on the premises, and proceeding to seek legal remedy against the owner and third parties who may have obtained a benefit from the demise of the owner. The business remains operational and we are informed by the landlord that he is running the business for the time being until a new owner for the leasehold happens.
We have alerted him to our rights, and he informs us that he is speaking with his lawyers on Friday 13 January 2017 to determine his response to our claims.
Your investment is obviously protected by first loss and the costs of the collections and processes are typically paid from the provision account.
This means that at present, you will NOT continue to receive your monthly interest payments.These interest payments will accrue whilst the recovery period is occurring, and then be determined after final funds are calculated.
In relation to all loans on the platform, our resolve is to do everything we can legally to protect our investors. Rest assured, therefore, that in this instance we will do our utmost to effect a full recovery of funds from XXXXXXXXXXXX. We will keep you updated.
Please contact our office at XXXXXXXXXXXX if the matter is urgent.
Kind Regards,
The ABP2P Platform Support Team.
Status
18th January 2017 - We have not heard from the Landlord, so we have now sent a letter to the landlord advising him of our rights and making a demand for him to pay for the Business. We will keep you updated
