ablender
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Post by ablender on Jul 21, 2017 10:22:14 GMT
COLBB00375 - Repaid in full (including interest). Well done collateral.
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ablender
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Post by ablender on Jul 15, 2017 7:38:05 GMT
Is there a course (online or otherwise) which teaches the new Lendy way?
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ablender
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Post by ablender on Jul 15, 2017 7:30:45 GMT
My main concern is physically securing the assets. After that, the actual recovery is what it is - I'm sure COL will get the best retun they can, but they can only do so if the assets are properly secured - legally and physically. COL need to act as fast as possible, consistent with the law. Agreed! I can't be the only one who's more than a little concerned that COL are basically not going to do anything now until next week, leaving a whole weekend for these vehicles - which are not in COL's possession - to just magically vanish into thin air! Why can't COL take steps to secure possession of these vehicles before Monday?! If the cars disappear, I understand it to be the equivalent to being stolen. At that point I expect insurance to kick in.
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ablender
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Post by ablender on Jul 14, 2017 16:00:48 GMT
Even though I have skin in the game, I am actually quite "satisfied" to see that Collateral had its first default. Now we will really be able to gauge this platform. Sourcing deals is a skill, but recovering money is a different one especially on such assets... Agreed, it will be interesting. However it's not property. Since property is the way Collateral is going I would be more interested in seeing how a default in that area goes. (Not that anybody wants to see any defaults really.) I hope that Collateral will not abandon the other areas as I am not that much interested in property. I need diversity mainly.
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ablender
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Post by ablender on Jul 14, 2017 15:59:20 GMT
Even though I have skin in the game, I am actually quite "satisfied" to see that Collateral had its first default. Now we will really be able to gauge this platform. Sourcing deals is a skill, but recovering money is a different one especially on such assets... I have to add. Up to now I am happy with the quick action of Collateral. Keep it up.
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ablender
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Post by ablender on Jul 4, 2017 16:15:41 GMT
Doesn't this sound a bit like the Homer's Odyssey - the never-ending journey? I wonder who this Ulysses is?
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ablender
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Post by ablender on Jun 8, 2017 13:58:12 GMT
Hi lendingcrowd , I've just received the most recent update. The first payment for this "B" rated loan was due, and paid on the 12th September 2015. They made the next payment on time, the following three payments were late, with the last payment received on the 29th January 2016. Out of twenty four scheduled payments they made five. Please can you explain the "loan payments for * * * M********** Ltd are now 120 days overdue...." comment? Please can you also explain how and why it has taken Lending Crowd roughly 18 months (ie closer to 547 days) to default the loan? Many thanks, RM I believe that lendingcrowd are facilitating people to default on their loan commitments, and if lendingcrowd has any objections to my view I challenge them to come here and air their view.
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ablender
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Post by ablender on May 27, 2017 16:43:26 GMT
I positive update has just been posted on this loan. This really has been a funny old carry on. Still, if the intermediary and the borrow get their fingers out, this could and should be paid before the week's out. I'll not congratulate holders just yet...... "this will take a week because it involves cross-border transaction" Are we still in the time of Texas Rangers as seen on films? Perhaps there are bandits attacking horse drawn carriages.
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ablender
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Post by ablender on May 27, 2017 13:37:38 GMT
I don't understand how they continue to operate to be honest, I genuinely don't, even disregarding loan performance. By their own stats page, they've only ever issued 135 loans for a total of £11.1m since their inception in 2014. To put this in perspective, I just had a look at FC's loanbook and started summing by loan amount from the most recent loans issued until I reached £11.1m. Do you know what date I reached? 20th May, 2017, 5 days ago. FC themselves apparently struggle for profitability, so I can but imagine how LC are doing. But in more positive news, their self-select ISA is coming soon i see! Form an orderly queue.... I bet LC will soon go to a P2P platform to borrow money. - AD: a competitor platform asks for money.
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ablender
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Post by ablender on May 25, 2017 15:46:24 GMT
Total SM is now up to 3.2m this morning. Is this a new record? Dear Lendy, is there something that we ought to know? The £1.6m COL Bolton loan should be drawing down today which will free up £1.6m on MT. There is only £450k on MT so the remaining could clear the £600k on COL or come to L Apart from the Barrowford loans on Col which are now at 14%.
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ablender
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FundingSecure (FS) in Administration
Overdue loans
May 22, 2017 19:42:58 GMT
Post by ablender on May 22, 2017 19:42:58 GMT
Numerous Updates posted during today. Yes, but Land in Rishton is still flying back (or away) with the money.
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ablender
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Post by ablender on May 17, 2017 15:19:04 GMT
15-May-17 "We have been advised that the payment is to be made this week."
This is very good news, I will be glad to see the back of this one. Your post is a bit confusing. Do you mean you want to see the rump?
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ablender
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Post by ablender on May 12, 2017 17:58:10 GMT
Daisy told me today there will be an update this weekend ,saying that the intermediary is going to switzerland for the moneyHope he checks his baggage allowance then, £1m should easily fill a suitcase or two. Dont suppose they've thought of just giving IBAN/BIC codes for a bank transfer, it works a treat Did he say on which flight he is returning back?
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ablender
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Post by ablender on May 10, 2017 22:35:00 GMT
I have to disagree with most of this. I recommend avoiding the lower rate loans and the very large loans for the exact reason that they are much more likely to become illiquid and people are much more likely to have to hold them until the potentially bitter end. GeorgeT : I think I'm missing something here. You wrote that you disagreed with what cooling_dude said, but ISTM that you're both saying the same thing. What's the difference between... and... ? ? ? EDIT: Beaten to it by stevio ! Perhaps the order !!!
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ablender
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Post by ablender on May 10, 2017 15:08:28 GMT
Those still investing/signing up will have to be hoping that the old adage is true past performance is not a guide to future resultsI currently hold about 45 loan parts most of which were obtained on the PM. Shortly after joining this platform I decided to limit my investments to about 5K because I was unhappy with the practice of one investor underwriting the offerings at low percentages and then dumping the loans on the SM which dragged the SM percentages down. From the name of this investor it was not difficult to guess who! (college house). Later I noted that some of the DD was dubious. A very recent offering is to a company that went to the wall in 2012, was restarted with almost the same name by the same and only director (who appears also to be the secretary?) and at the same address. The current business accounts show a markedly downward slope and yet it gets a B+ rating, despite making dubious statements in the presentation. As others have said there are other platforms with better records of reclaiming losses etc. Despite careful selection this platform accounts for 1/3 of my losses (and probably more to come) over 2 years and 5 platforms (Now 6) and it carries only a small fraction of my overall investment. You are brave in putting £5k in this platform in the first place.
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