jfm
Member of DD Central
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Post by jfm on Jul 19, 2017 19:05:43 GMT
Correct me if I'm wrong, I always thought if you unwittingly bought a car that had outstanding finance on it, then the debt transfers across to you, hence the reason yo take out an HPI check on a vehicle before buying? I thought that COL owned these vehicles, so would not need to register finance against them. A purchaser would be buying from a thief.
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DiQ
Member of DD Central
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Post by DiQ on Jul 20, 2017 16:03:05 GMT
Looking like Full capital + all interest
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elliotn
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Post by elliotn on Jul 20, 2017 16:53:47 GMT
The cars still have to be recovered and sold and they were listed at 70% retail so that's cutting it a bit fine although interest is retained within term - perhaps they have some sort of commitment from the directors to help avoid losses
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Post by Butch Cassidy on Jul 20, 2017 16:55:31 GMT
Looking like Full capital + all interest I've now locked the poll & am pleased with the actions of Coll so far & reassured that my initial confidence is looking well placed but the proof of the pudding & all that but I think it is a positive start & the communication has been as good as could be expected, given the sensitivity & legal discussions that have obviously been going on behind the scenes. Looking forward to receiving my cash back in due course
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dermot
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Post by dermot on Jul 20, 2017 18:29:18 GMT
I was rather hoping that people would panic and sell me some more bling .... nice to pick up a few hundred quid the other day.
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elliotn
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Post by elliotn on Jul 21, 2017 1:27:06 GMT
I was rather hoping that people would panic and sell me some more bling .... nice to pick up a few hundred quid the other day. I sold several thousand. Less a panic than careful, quantified responses on news updates based on my personal materiality levels. The apparent ability to successfully and swiftly pursue directors individually for missing security allows me to take this back up from my temporary and prudent unsecured SME levels. So you have another renewal competitor back on the block 👊🏿.
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dermot
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Post by dermot on Jul 21, 2017 4:17:55 GMT
I was rather hoping that people would panic and sell me some more bling .... nice to pick up a few hundred quid the other day. I sold several thousand. Less a panic than careful, quantified responses on news updates based on my personal materiality levels. The apparent ability to successfully and swiftly pursue directors individually for missing security allows me to take this back up from my temporary and prudent unsecured SME levels. So you have another renewal competitor back on the block 👊🏿. Dang!
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Jul 21, 2017 10:19:07 GMT
Oh ye of little faith. Never in doubt.................
Phew.
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dermot
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Post by dermot on Jul 21, 2017 11:43:35 GMT
First repayment made Which amounts to around one third of my total exposure to this borrower.
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