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Post by Duane Dibley on Mar 7, 2018 19:46:16 GMT
First time I've looked at this thread for a little while but disappointed to see there has been a display of poor judgement by the mentioned platform associate. Oh dear. Regrettable, but certainly no worse than Saving Stream's initial attempts to publicise their business via this forum.
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Post by Duane Dibley on Mar 7, 2018 19:02:05 GMT
These are exactly the sort of loans MT should be focusing on.
Rather than dodgy hotels and never-ending developments.
Back to basics.
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Post by Duane Dibley on Mar 7, 2018 13:20:57 GMT
Ablrate certainly rates top in my book (although Collateral was up there a week ago ), but i do admit that i was never invested in the container loan. Whether you are in a loan or not is immaterial, it's important to consider a platform's overall behaviour not just what affects you personally, though I can understand how that can skew an investor's sentiment. For the record I was in the container loan, and Ablrate's actions in it before default certainly left a lot to be desired, though to be fair their action since default has been much improved and among the most decisive I've seen from a platform, so I presume that is one of the reasons why they were voted most improved platform. If there's one aspect of P2P lending that all platforms should concentrate on improving it's their debt recovery, I'm only surprised there wasn't a separate category for default action and debt recovery, an aspect of P2P that many investors ignore until it affects them personally. Maybe next year. WAWAW.
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Post by Duane Dibley on Mar 4, 2018 19:20:08 GMT
Agree with you in normal times, but if things were to go pear shaped for p2p can't help feeling that they'd go pear shaped for these accounts too. True. If it goes pear-shaped for P2P as a whole then no platform will be unaffected. But then that goes back to my previous question, if not P2P then where? My rationale for AC is that as a whole I think they have better quality loans, albeit at a lower rate, than the higher paying platforms. Those higher paying platforms have in a way made a rod for their own backs, they have built their business on 12% interest rates and it would take a leap of faith for them to now drop them to say 6-8%, even for more secure loans. Lendy have tried reducing rates without any great success and MT receive plenty of negativity when they offer even 10% loans. AC however made that decision a while ago, at the time it wasn't popular and I along with others moved out of AC into those higher paying platforms, but now maybe it was the right decision after all and I should start to move my money back there. Whatever the right strategy is, one thing I am sure of, the days of plenty of good quality 12%+ loans has come to an end. Fun while it lasted though.
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Post by Duane Dibley on Mar 4, 2018 11:15:00 GMT
Been in P2P since 2010, initially with FC then later most of the higher paying platforms.
The high point for me was 2016 and I've been winding down my holdings since then, some at a faster rate than others.
The only higher rate platform I'm significantly reinvesting funds in is Ablrate, the others I'm either withdrawing funds as they repay or actively selling.
The question is if not P2P then where? Shares if not over-valued seem pretty near their peak, bonds susceptible to rate rises, BTL I'm as fully invested as I want to go, niche investments being just that and cash accounts paying less than inflation.
Hmmm Bitcoins anyone??
So for the next 12 months I'll probably continue to drip feed into equities and shift most of my P2P holdings into the lower paying, ostensibly safer, products like AC's 30 day and Instant Access accounts.
First world problems eh.
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Post by Duane Dibley on Mar 3, 2018 10:43:45 GMT
"We launched in January 2018", is that a typo Blend? I invested with you last July 2017! Yours, OzBoy Me too Oz. So rather galling that us intrepid pioneers that helped get these guys get up on their feet get diddly squat, while these Johnny-come-latelies get a tasty little bonus. Maybe the moral of the story is to let others stick their fingers in the fire first and just sit back and see how hot it really is.
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Post by Duane Dibley on Dec 18, 2017 10:58:07 GMT
The specific post that you refer to is this one: p2pindependentforum.com/post/136561/threadwe will find a solution to make sure lenders do not lose out.
As interest continues to accrue it becomes more expensive by the day for them to honor this - I'm a bit surprised that they haven't decided to buy us out of this loan while recoveries are pursued. Personally I take that to read that Ablrate will make good any capital loss to lenders on this loan, not necessarily pay out any accrued interest.
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Post by Duane Dibley on Aug 3, 2017 11:23:56 GMT
If MT don't want people to make small withdrawals then they should pay all interest on one day a month like other platforms.
As it is people who want to withdraw their interest have to log in 20-30 times a month to withdraw it or else have it stood around earning nothing.
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Post by Duane Dibley on May 11, 2017 9:08:05 GMT
It is not acceptable to do this with no notification and no double entry book keeping. I'm surprised it's even legal from a record keeping perspective. They are working on this, hopefully in 3 or 4 months these issues will be a thing of the past. That's what I like about Spring. It brings out the optimist in everybody.
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Post by Duane Dibley on May 11, 2017 9:00:36 GMT
You have disagreed with what CD said, but then restated exactly the same things he said and then claimed it as your own idea! It's an interesting point to discuss, but come on, play the game properly You wouldn't have thought Theresa May had time to read P2P forums would you? Then again some people will nick anything these days.
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Post by Duane Dibley on Apr 7, 2017 9:52:15 GMT
We have looked at this and have changed the heading to 'Next payment date' - you will also see (as requested) that you are able to roll over and see what payment it is... if you click on the calendar you will presented with a list of your repayments and the dates when those payments are due. Regards Ablrate I like that. I don't like the way it automatically scrolls down to the amount to deposit box every time you go to the dashboard - I'm wearing out my finger scrolling back up.
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Collateral (COL) in Liquidation
BB00496 & 7
Apr 5, 2017 9:27:54 GMT
Post by Duane Dibley on Apr 5, 2017 9:27:54 GMT
collateral - I'm sure a simple mistake but do you realize that you have used the same photo for these two loans? I think it is because they are both loans against a collection of different things, so it is a generic photo. What's the point of having it then? Collateral have never admitted it but I suspect the reason that the website is so slow and unresponsive is because of the use of these scrolling type images. Do lenders not know what 'jewellery' is without a photo to help them?
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Post by Duane Dibley on Apr 3, 2017 11:43:35 GMT
In a similarly selfish way, ablrate's full approval gives me confidence that one potential aspect of platform risk has been removed, namely that they were perhaps operating in a way that was unsustainable or unacceptable. You mean like Northern Rock or Bradford & Bingley.
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Post by Duane Dibley on Apr 3, 2017 10:11:35 GMT
LOL.. how to rain on or parade! Actually it is a great question, thanks Caratacus, what it does is add a level of certainty to the business model, basically if we keep doing what we are doing then we are within the rules. This helps us plan for the future, it means we can attract the right staff to manage the increased origination, attract financing for expansion if required, innovate new products and all these things help lenders deploy more capital over a more diverse range of loans. The technology will essentially be continually improved to help us and you manage this. Regards Ablrate I don't mean to be a negative, and obviously it means a lot to you, so again I'll congratulate you. But I still fail to see what it means for me, and I say that as a long-term and enthusiastic Ablrate lender. What are these 'rules' that you mention? What were you doing before that you won't be doing now or what weren't you doing before that you will be doing now? It seems to me to be more of a marketing exercise, perhaps you get to use a new logo on your website, maybe a St Edward's Crown or some trendy new design so people think what's that? Is it a flower no it's a fish or is it an aeroplane? Now maybe some people are attracted by that sort of thing, but I'm afraid it doesn't do anything for me. But what I am concerned about, in a purely selfish way of course, is that should there be a large influx of new investors attracted by trendy logos and new authorisations what it will mean to interest rates and ultimately my returns.
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Post by Duane Dibley on Mar 31, 2017 17:01:29 GMT
I guess from previous posts that congratulations are in order, so why not, I'll add mine to them.
But without wanting to point at the Emperor's clothes, what exactly does it mean for Ablrate and more importantly what does it mean for investors?
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