jj
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Jolly Jammy
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Post by jj on Nov 1, 2017 13:25:31 GMT
Is It worth investing into the last offer of equity or has the ship sailed.
Any advice/opinions would be appreciated.
(p.s. the tax issue is N/A)
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jj
Member of DD Central
Jolly Jammy
Posts: 320
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Post by jj on Oct 27, 2017 16:15:38 GMT
I have withdrawn about half of my UK P2P money. I think that too many platforms are offering the same type of highly speculative loans with dubious security and to people with bad track records. The defaults are only appearing recently as loans were extended, but there had to be a limit to that. I am worried that unsavory characters have cotton on to the fact that its an easy way to get money without the necessary checks. They can get money without revealing their credit history or what the true intention is for the money. Just make up some story in a glossy document.
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jj
Member of DD Central
Jolly Jammy
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Post by jj on Oct 23, 2017 21:39:47 GMT
wonder where it will pop up next and at what %age. FS at 13% would be my bet, perhaps someone would care to run a poll? Albrate all the way! 14%.
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jj
Member of DD Central
Jolly Jammy
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FundingSecure (FS) in Administration
New Loans (FS)
Oct 23, 2017 16:08:51 GMT
Post by jj on Oct 23, 2017 16:08:51 GMT
This loan could have been handled way better but its a good loan.
The borrower is using the money to make more money, so all for the right reasons. The LTV is still low even with all the faults and wrongs in the report.
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jj
Member of DD Central
Jolly Jammy
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Post by jj on Oct 18, 2017 6:58:25 GMT
Perhaps its to repay a debt from the past!
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jj
Member of DD Central
Jolly Jammy
Posts: 320
Likes: 358
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Post by jj on Oct 18, 2017 6:21:16 GMT
And that's exactly why I pulled my money out of AC & Ablrate. The problem is there is not any Legal obligation to disclose this kind of information. Moral obligation, yes. Legal no.
However I am optimistic for the future because as a community we have uncovered very important information here and have used it for our own advantage. This makes investing here ironically a safer place.
Now what I propose will probably not be possible but why can there not be a sub-board here, like AC's. Here we could do our DD before MT takes on the loan. This would make MT a more pure P2P platform and increase confidence in the platform. I noticed that MT lately have been a bit off the mark in the loans they take on lately. MT could do with a bit of help.
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jj
Member of DD Central
Jolly Jammy
Posts: 320
Likes: 358
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Post by jj on Oct 17, 2017 5:15:18 GMT
Exactly, platform s! I've relegated p2p platforms to a dodgy financial adviser, whos only interest is on their own comission. I've already pulled out of two p2p platform because of my own DD, could this be a third ? Hope not. I have been changing my strategy from study to a numbers game to compensate and dismissing reports altogether, especially valuation. Works for me.
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jj
Member of DD Central
Jolly Jammy
Posts: 320
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Post by jj on Oct 16, 2017 20:12:43 GMT
Glad to see people pulling together to do the DD in the not-so-secret forum.
The best way to gauge a borrower's future intention is to look at Their past actions.
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jj
Member of DD Central
Jolly Jammy
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Post by jj on Oct 16, 2017 16:23:35 GMT
Perhaps MT's loan tomorrow is affecting the uptake!?
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jj
Member of DD Central
Jolly Jammy
Posts: 320
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FundingSecure (FS) in Administration
Bury 3170241424
Oct 14, 2017 10:31:11 GMT
Post by jj on Oct 14, 2017 10:31:11 GMT
I see our friends j***y and j****y (jenny and jeremy ?) are back in action again, being the largest participants, with 10k each thus mopping up 40% of the entire loan . Presumably both renewals, given that there was a £100 limit. Thats from the rollover. I think there was only <£2425 available from my reckoning.
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jj
Member of DD Central
Jolly Jammy
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Post by jj on Oct 10, 2017 16:00:52 GMT
Reconciling the investments between the original and renewal, the j***y's investment for 10k looks to be the 'new' money that swallowed up most of what was available on the renewal. He/she is a name that comes up regularly as clearly getting preferred treatment. Given most of this loan was renewed and there were only a few scraps available for everyone else, maybe they could have let the general public fight it out for this one. Hmm.... I think finger pointing is not going to be enough for these kind of people. I suggest you find out who this jolly chappy is then torture him until he confesses to being one of the sixty then string him up for being so jammy.
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jj
Member of DD Central
Jolly Jammy
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Post by jj on Oct 10, 2017 15:54:12 GMT
In the current economic cycle I think investing into these Government backed scheme are a very good safe investment to have. I am not surprised at quickly the loan was filled.
This brings us onto the next loan in the pipeline. I have asked if you can rollover your existing investment in M***** V***** CHP. The answer I got back was highly likely but not a definite. I think considering the speed of the previous loan it might be a good option.
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jj
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Jolly Jammy
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Post by jj on Oct 8, 2017 19:34:38 GMT
2. The prohibition on identifying borrowers.<snip> I have now finished my rant but if this is what I know what about the other borrowers & loans that I don't know about, I dread to think. Have you been on the same red as me? Nice before,during and after a rant!
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jj
Member of DD Central
Jolly Jammy
Posts: 320
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Post by jj on Oct 8, 2017 18:53:12 GMT
2. The prohibition on identifying borrowers.
I know a "borrower" with a string of bankruptcies. Each time just uses a different family member's name. This leads me to think its done on purpose. Yet I can't for legal reasons say anything.
This borrower(s) has loans over at least three platforms that I know of and to make matters worse the P2P platforms does not mention it in their glossy write ups. In fact they go out of their way to avoid any negative information at all. The problem is not lying or misinformation but of omission. We are entitled to know the background of the borrower the same as everyone else to weight up risk.
I am afraid to say here on the forum have a distinct disadvantage in the information front and platforms are using this for their own advantage. One has to remember the huge commission that is earned by platformers in filling a loan and very little or no risk to themselves when it defaults.
From what I have learned SOME P2P platformers are no better than politicians, lawyers and estate agents. They want YOU to risk your money for them.
I have now finished my rant but if this is what I know what about the other borrowers & loans that I don't know about, I dread to think.
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jj
Member of DD Central
Jolly Jammy
Posts: 320
Likes: 358
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Post by jj on Oct 4, 2017 16:54:02 GMT
congratulations to AC on a schrude bit of business (if this loan succeeds).
Can anyone comment on the valuation in the AC report of the ZA compared with the ALB report? I don't think the numbers add up. I need a second opinion.
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