mickj
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Post by mickj on Jul 18, 2017 12:46:41 GMT
Can this thread be renamed the "Car loans defaulted THREAD TO PESTER COLLATERAL AND DONT LET THEM DO THEIR JOB" thread Even moderators are adding to the several pages of rather pointless posts here that add.....nothing Surely we are adults here and not petulant children, realise that no one is being told more than anyone else, CO have said what they are going to do and when, add a moderate amount of patience and got on with your life! I think it's the nature of forums stevio, we all think we have a more important point to make than the next, and who knows one of them may be of value. next ?
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Post by sannytwist on Jul 18, 2017 13:46:41 GMT
the panic is real
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Post by elephantrosie on Jul 18, 2017 16:00:12 GMT
those with the defaulted loan in negative timing, are you still receiving increasing interest everyday? or has the interest stopped since the email?
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mrflush
Member of DD Central
This is not me
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Post by mrflush on Jul 18, 2017 18:40:51 GMT
I wouldn't generally pay attention to daily interest earned but I have made a note of today's reading on a sticky I keep on my monitor (managed to squeeze it in between all the passwords) and will let you know if it changes tomorrow. Can you PM me a photo of your monitor please?
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theshape
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Post by theshape on Jul 18, 2017 22:38:18 GMT
those with the defaulted loan in negative timing, are you still receiving increasing interest everyday? or has the interest stopped since the email? I wouldn't generally pay attention to daily interest earned but I have made a note of today's reading on a sticky I keep on my monitor (managed to squeeze it in between all the passwords) and will let you know if it changes tomorrow. Mine hasn't changed with the 23:30 Interest payment.
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moogman
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Post by moogman on Jul 19, 2017 9:55:51 GMT
Email contents from collateral Collateral Rep - <redacted> and updates on the (extremely important) nomenclature of the agreements. Can't read moogman ?? - or is it a simple lack of respect for other's wishes / instructions.... ?? Good point - Deleted. Thanks for the heads-up. Hopefully COL will approve copying of the text here for other interested parties.
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greatmarko
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Post by greatmarko on Jul 19, 2017 10:00:10 GMT
Email contents from collateral Collateral Rep -<redacted> and updates on the (extremely important) nomenclature of the agreements. Can't read moogman ?? - or is it a simple lack of respect for other's wishes / instructions.... ?? Whilst you're right that COL did ask for confidentiality in their email; at the same time there should also be a certain amount of transparency (without compromising any potential legal action COL may take) A lot of investors (not just those directly involved in these loans), but other COL investors, and indeed non-COL investors are watching very closely how COL are ( mis?)-handling their first default... and so I'm sure would be very interested to know things like the number of vehicles recovered by COL, etc
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liso
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Post by liso on Jul 19, 2017 10:02:13 GMT
....not to mention the potential for jeopardising the recovery process moogman.
We want platforms to communicate with us, then ignore what they ask. No surprise that communications stop!
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guff
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Post by guff on Jul 19, 2017 10:08:58 GMT
Please be minded that posting confidential information relating to a legal process on a public forum puts the recovery of all our money at risk. For the minute, we have to trust that Collateral Rep will release whatever information they can when and where it is appropriate.
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mickj
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Post by mickj on Jul 19, 2017 10:42:35 GMT
I am not in this loan, but feel I would like to know a bit more of how it's going, any chance of collateral including all registered investors for these emails, at least it may help stop them being copied here.
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Jul 19, 2017 11:02:07 GMT
Can't read moogman ?? - or is it a simple lack of respect for other's wishes / instructions.... ?? Whilst you're right that COL did ask for confidentiality in their email; at the same time there should also be a certain amount of transparency (without compromising any potential legal action COL may take) A lot of investors (not just those directly involved in these loans), but other COL investors, and indeed non-COL investors are watching very closely how COL are ( mis?)-handling their first default... and so I'm sure would be very interested to know things like the number of vehicles recovered by COL, etc So, the borrower registers on the forum. Col confidential info posted by a none investor or a person that does not know forum rules. Effect-》 legal bods compromised in recovery process -》investors get reduced payout and coll stop communicating. Patience is a virtue. If one is not in the loan please wait for Gordon. If you are then ask your questions direct to coll, however much work that gives to them. Time for discussion of the process is after recovery for the minutiae.
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snowmobile
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Post by snowmobile on Jul 19, 2017 12:20:53 GMT
Whilst you're right that COL did ask for confidentiality in their email; at the same time there should also be a certain amount of transparency (without compromising any potential legal action COL may take) A lot of investors (not just those directly involved in these loans), but other COL investors, and indeed non-COL investors are watching very closely how COL are ( mis?)-handling their first default... and so I'm sure would be very interested to know things like the number of vehicles recovered by COL, etc So, the borrower registers on the forum. Col confidential info posted by a none investor or a person that does not know forum rules. Effect-》 legal bods compromised in recovery process -》investors get reduced payout and coll stop communicating. Patience is a virtue. If one is not in the loan please wait for Gordon. If you are then ask your questions direct to coll, however much work that gives to them. Time for discussion of the process is after recovery for the minutiae. Absolutely. It's also worth noting that the borrower doesn't even have to go to the trouble of registering on the forum. The posts can easily be read as a guest. Whilst it would be good if this were a private closed forum, that is not the reality of the situation.
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GeorgeT
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Post by GeorgeT on Jul 19, 2017 13:58:02 GMT
Here's what I think.
I'm not in any of these loans.
But I have a 5 figure sum invested on the COL platform. Therefore the outcome and how COL are handling this default are of material interest to me and my investment and future investment decisions on the platform. I am not some random, nosey bloke down the pub. In fact with the continued availability of 14% and a new CB loan I would have invested more this week but I have decided against it because I don't know what's going on here. The one thing that damages an investor's confidence more than anything else is uncertainty, as evidenced by my own decision to hold fire on any more COL investment.
I agree sensitive information should not be posted on a public forum. However I think all COL investors should be copied in to the emails - for the reasons I've stated.
That will also stop other interested parties (i.e. other COL investors) asking questions on the forum.
I did not receive the original default email from last week so if it were not for this forum I would not even know some COL loans had run into difficulty. I don't think that meets the transparency test.
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Post by elephantrosie on Jul 19, 2017 15:08:25 GMT
keep going col. don't let us down.
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rxdav
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Post by rxdav on Jul 19, 2017 15:33:28 GMT
Here's what I think. I'm not in any of these loans. But I have a 5 figure sum invested on the COL platform. Therefore the outcome and how COL are handling this default are of material interest to me and my investment and future investment decisions on the platform. I am not some random, nosey bloke down the pub. In fact with the continued availability of 14% and a new CB loan I would have invested more this week but I have decided against it because I don't know what's going on here. The one thing that damages an investor's confidence more than anything else is uncertainty, as evidenced by my own decision to hold fire on any more COL investment. I agree sensitive information should not be posted on a public forum. However I think all COL investors should be copied in to the emails - for the reasons I've stated. That will also stop other interested parties (i.e. other COL investors) asking questions on the forum. I did not receive the original default email from last week so if it were not for this forum I would not even know some COL loans had run into difficulty. I don't think that meets the transparency test. Got to agree with georget here - anyone invested in COL does have a material interest in how this first default is being handled. I don't want a synopsis months down the line with a post mortem on what went well/wrong and lessons leaned for the future. As this is their first default and they have no track record in recoveries this will inevitably have an immediate effect on my attitude to COL - and I doubt I will be in a minority.
It's being in the dark which is particularly unhelpful in respect of COL maintaining the confidence of lenders.
I don't want or need a blow by blow account or any fine detail - just a broad and reasonably regular heads-up on the general progress of the recovery.
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