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Post by GSV3MIaC on Jan 9, 2020 20:29:16 GMT
None of which really make joyous reading...
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Post by GSV3MIaC on Jan 9, 2020 20:27:55 GMT
Even MT are using the Fr**d word in connection with this borrower.
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Post by GSV3MIaC on Jan 5, 2020 21:38:48 GMT
Taking the thread title at face value.. WHAT 'net returns'.. afaict there have been none yet. Long time til anything drops out the other end of the sausage machine, no? I guess you could be happy with 0, but you'd be in a minority.
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Post by GSV3MIaC on Jan 5, 2020 21:34:22 GMT
Well there were two sides to that debate.. I can't find anyone much saying Ly, Col, FS and the fca are all wonderful and blameless. Need at least body armour to take that stance.
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Post by GSV3MIaC on Jan 2, 2020 23:41:03 GMT
Not exactly flying off the shelf.
Yes, it is not exactly a dog, but has a few issues which limit its popularity, especially in the current p2p climate. None the less, I'm going to take a small punt , on the assumption ablrate keep their eyes on the ball, or at least on the boots.
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Post by GSV3MIaC on Dec 31, 2019 16:13:30 GMT
That is a historical statement which AFAIK, has NEVER been acted on, unless back in the distant days of a real SM, and it never happened to me even then. I confidently predict that under the new system you won't have to renew your orders ecery 120 days.. We shall see.
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Post by GSV3MIaC on Dec 31, 2019 16:10:16 GMT
Historically they have gotten it wrong.. At least for me. And I don't consider 24 hours to fill a loan is going to look unpopularly slow
. As for discouraging 10k punters from looking at it at all, I would think that having it all sold to one such, even as the starting whistle blows, is even more discouraging.
Yep, it is entirely ablrate 's call. I am just suggesting that they need to not get it wrong again. I expect this one to be very popular, unless the documents look really canine.
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Post by GSV3MIaC on Dec 31, 2019 10:05:13 GMT
I'm almost prepared to bet you a chocolate bar there will be no money forthcoming, just another feeble excuse and attempt to delay. I am less certain as to whether MT will pull the plug if that happens. I would love to be wrong, but leopards and spots comes to mind.
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Post by GSV3MIaC on Dec 31, 2019 10:02:32 GMT
Actually it seems to be selling about 1% per cycle, subject to rounding for very small requests.. You will get out after 100 cycles, roughly. Call it 2 years. In that case the size of your sell request doesn't affect it much. Whether the 1% applies to the original request, or the reducing balance.. Too early to say. The 1% is per original at the start of the request. But every 120 days a new request has to be submitted and the 100-cycles-away from exit restarts!!. Portfolios with circa 100 loan parts should get out in about 100 cycles but those with larger numbers of loan parts will take more than 100 cycles. See logic and illustration from earlier. Are we sure that the requests still 'time out' after 120 days? Clearly that makes no sense, and there has not yet been enough time for an actual occurrence ..
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Post by GSV3MIaC on Dec 31, 2019 9:56:51 GMT
It may not be necessary, but the downside of having it in place, unneeded, is minimal.
Without it it only takes one whale to eat the whole lot at minute 5, on the assumption (whether right or wrong) they can resell on the SM at a profit.
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Post by GSV3MIaC on Dec 30, 2019 20:55:31 GMT
So unless the documents show this to be a real dog, can we have a BID LIMIT for at least 24 hours, please, ablrate . Something reasonable like £1k or £2k, such that it isn't all sold in the first hour. Ideally not even in the first day.
If not, I'm outta here, sorry.
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Post by GSV3MIaC on Dec 30, 2019 20:51:26 GMT
£10 sold on 02/12/2019 £13 sold on 11/12/2019 £12 sold on 18/12/2019 £10 sold on 28/12/2019 So it's selling one loan per week, which is a vast improvement on 6 months of selling nothing at all I suppose! It's certainly not an improvement for anyone with a substantial amount to sell, though FC will be very pleased if it's perceived that way. Selling only ~30% in 6 months is much worse than selling the vast majority after 6 months, and now have to pay a fee for the privilege. It effectively favours smaller sellers over larger ones now, hardly an incentive to invest more! Actually it seems to be selling about 1% per cycle, subject to rounding for very small requests.. You will get out after 100 cycles, roughly. Call it 2 years. In that case the size of your sell request doesn't affect it much. Whether the 1% applies to the original request, or the reducing balance.. Too early to say.
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Post by GSV3MIaC on Dec 27, 2019 21:00:56 GMT
IMHO it isn't P2p when you have no control over who you lend to either, which let's most of the companies on this forum out right away.
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Post by GSV3MIaC on Dec 25, 2019 21:05:53 GMT
Yes, his repayment record is fine, but afaict, his outstanding debts continue to grow. I'm happy to stay invested at my current level, and even top up some of the repayment money, but not to launch wholesale into new loans for the same borrowers.. not this one in particular, but repeat borrowers in general.
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Post by GSV3MIaC on Dec 23, 2019 15:49:22 GMT
AIUI reading the report, the chattel sales are not being prejudiced by the larger sales, they're being stopped by the fact that (reading between the lines) their real value is bog all compared to their supposed value, and BDO are trying to hold whomever is responsible to account before proceeding with the bloodbath sale. I'm quite sure - the lines have been there a while, but I can't fathom a need to delay any sale; a sale won't change any of the existing evidence, or I would have thought prevent anyone from being held "responsible".
A Sale will, presumably, SELL some of the evidence, thus rending it harder to wave it about in court later. I am minded on the 'Dead Parrot' sketch .. having the parrot to hand definitely improves the veracity of the claim about it being predeceased. Similarly any jewellery or bullion the administrators want to call 'foul!' on are probably better not vanished into the 'anonymous bidder' ether.
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