rxdav
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Post by rxdav on Jan 19, 2019 9:41:39 GMT
I note there was a 'nothing further to report' post on this mis-sold loan from MT on 14 January - which is nevertheless appreciated. Just checking in with monthly reminder that I'm still watching, still waiting. It's now 3 months since the abysmal 69% capital recovery - so just the 31% of capital plus interest still outstanding eh!?
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cedarcourtcapital
Member of DD Central
Listening is not the same as understanding
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Post by cedarcourtcapital on Jan 29, 2019 22:50:10 GMT
MT are you in a position to update lenders on the disputed solicitors fees lenders were charged, as highlighted in the update when distribution of sales proceeds was advised?
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rxdav
Member of DD Central
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Post by rxdav on Jan 30, 2019 10:29:07 GMT
MT are you in a position to update lenders on the disputed solicitors fees lenders were charged, as highlighted in the update when distribution of sales proceeds was advised? Well there's a first eh cedar - a 'like' from me - damn good point though - well done. I suspect the response will be 'we are still in discussion with the solicitor in regard to this matter' - or similar? Hope I'm wrong and they say - 'no problem chief, we got a full refund from the grabbing buggers' - by the way, did I mention the third buttock I'm currently growing!?!? Have a great day.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 10, 2019 14:09:45 GMT
Holding update on site
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sj
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Post by sj on Apr 11, 2019 9:09:47 GMT
No mention of action against the RICS shonky valuation then? BOOOO!!!!
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jlend
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Post by jlend on Jul 17, 2019 20:12:22 GMT
Hi MoneyThingAny chance of a quarterly progress update on this loan? Thanks
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liso
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Post by liso on Jul 17, 2019 21:31:02 GMT
The last substantive update on this loan was in October 2018. At that time, MT stated they would not be releasing any further updates on progress until there was something material to report. Fair enough, but we are now 9 months on, and it is not unreasonable for lenders now to be looking for an update more informative than the usual bland we-are-working-hard-behind-the-scenes. Surely it is possible to update us more fully without jeopardising further recovery? MoneyThing
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sj
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Post by sj on Jul 18, 2019 10:28:54 GMT
As a general question. how long exactly should it take to "take action" against the borrower - is it normal to have absolutely nothing to report by way of progress 9 months after the process was started? Have any court dates etc been set, have there been any initial meetings with lawyers? Work was "well underway" in October, so why no update on it? Does this kind of thing typically take 9 months? A year? 1,000 years? It might as well be, going by the updates we get. I'm now in a sad position where I expect almost every MT loan to overrun/be extended at the very least, and a lot to end up in default.
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derbyfella
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Post by derbyfella on Jul 19, 2019 22:57:18 GMT
I would like to see MT pursue....if they don’t, it basically makes any PG worthless - of course they could pursue and not win...
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hazellend
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Post by hazellend on Jul 20, 2019 8:19:27 GMT
I would like to see MT pursue....if they don’t, it basically makes any PG worthless - of course they could pursue and not win... Me too, but I’m not an expert in these matters. It may be pointless pursuing. ABLrate is the biggest test case as they have been aggressively pursuing the crate borrower for years at cost exceeding the loan value, so I assume they must be moderately confident
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jlend
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Post by jlend on Oct 8, 2019 6:47:37 GMT
Hi MoneyThingAny decision on whether to continue to pursue the borrower or crystallise the loss?
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Post by funkymonkey on Oct 8, 2019 7:54:10 GMT
Hi MoneyThingAny decision on whether to continue to pursue the borrower or crystallise the loss? If there was a decision then we would have been told. If you want to ask MT something then why not contact them directly with your questions, rather than via a 3rd party public forum?
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seb8072
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Post by seb8072 on Oct 8, 2019 11:34:56 GMT
Hi MoneyThing Any decision on whether to continue to pursue the borrower or crystallise the loss? If there was a decision then we would have been told. If you want to ask MT something then why not contact them directly with your questions, rather than via a 3rd party public forum? How do you know jlend hasn't contacted them directly. I have and it didn't yield a result. As MT do not seem averse to interacting on a 3rd party public forum I don't see any problem in giving it a try. I too would like to know whether a decision has been made on this loan.
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liso
Member of DD Central
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Post by liso on Oct 8, 2019 13:01:54 GMT
If there was a decision then we would have been told. IMO, that is not a safe assumption. To be fair to MT, they are not alone in being slow to disclose information, specially if it is bad news, but in the July update for this particular loan we were told a decision re costs would be made "shortly". And unless I have missed it, there has been no update on the dispute over legal fees from October 2018. It is hard to believe that in a year there have been no decisions, nothing to report. So I prefer not to assume that we would have been told.
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seb8072
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Post by seb8072 on Oct 16, 2019 13:56:01 GMT
Almost three months and not a word. Are we to take it that this is the second crystallised loss following the first of MTAIR3959?
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