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Post by bikeman on Oct 1, 2019 19:13:34 GMT
I don't know about the rest of you but I'm not happy with having my capital tied up for another 18 months at the paltry rate AC have offered.
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Post by bikeman on Oct 1, 2019 19:11:03 GMT
W/ref I** loans .... I brought my complaint to FOS mid April 2019.
I duly got a letter with a complaint number ,
I rang FOS mid May to enquire progress, and was told they operate to a 12 week performance target to get complaints allocated to a case manager.
As 16 weeks have passed I rang FOS again today to ask for progress, was told my complaint is still awaiting allocation, due to heavy workload.
HHHMMMMM.
If anybody else has a complaint with FOS on the Assetz turbines, do drop me a PM!
We may think about getting a group together at FOS as they will treat the complaints more seriously. I may try and revive the nascent windlender group
Any news from FOS. I never received any acknowledgement from them. After 4 months I wrote to them and never received a reply. I bet AC are so worried about complaints to FOS - NOT. Useless tossers.
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Post by bikeman on Oct 1, 2019 18:43:09 GMT
Noticed that my funds are not being reinvested despite set to reinvest at market rate.
I was under the impression that funds would be reinvested at what ever the prevailing market rate was when they reached the top of the lender queue. However after querying why my funds failed to reinvest for almost 2 weeks, customer services tell me that 'my rate' is set at the time of the funds becoming available, so if the prevailing market rate is lower than my funds wont reinvest until the market rate rises again. In a falling market my funds will never get reinvested until I manually override the lending rate. That can't be right.
Secondly, I have an increasing amount in my holding account but the rep couldn't explain why. Why would this happen if I have reinvest at market rate set?
I'm not sure the guy at ratesetter knows what he's talking about so I'm asking here.
Thanks
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Post by bikeman on Aug 10, 2019 13:24:05 GMT
I'll start the ball rolling: 1. Complaint to AC mid October 2018. Final response received Dec 2018. 2. Referred to FOS mid May 2019 3. Current status - no response from FOS and a complaint handler has not been allocated Why the 5 month gap between AC rejection and referral to FOS? There's a 6 month limit on referrals to FOS. AC upheld my complaint and I basically gave them as long as I could to settle, they did FA, so I referred to the FOS.
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Post by bikeman on Aug 5, 2019 14:18:33 GMT
I'll start the ball rolling:
1. Complaint to AC mid October 2018. Final response received Dec 2018.
2. Referred to FOS mid May 2019
3. Current status - no response from FOS and a complaint handler has not been allocated
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Post by bikeman on Aug 5, 2019 14:13:53 GMT
I am interested to ascertain the level of lender activity regarding complaints re the I** loans.
If you are a lender please respond with answers to the following:
1. Have you made a complaint to AC regarding these loans? If so when.
2. Have you referred your complaint to the FOS? If so when.
3. What is the status of your complaint to FOS e.g. no response, complaint handler allocated, complaint investigated etc.
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Post by bikeman on Jun 29, 2019 9:31:47 GMT
Does anyone else get the impression that AC's offer was always designed to get the heat off them while they continue the kick the can indefinitely.
All affected need to starting turning the heat up.
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Post by bikeman on May 17, 2019 14:08:34 GMT
Ah yes I think you are right. Thanks.
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Post by bikeman on May 17, 2019 12:57:08 GMT
Since the start of April my account has had a constant holding account balance. As loans are repaid, new loans are being formed but always leave the same holding account balance of about £200.
I have the account set to reinvest principal and interest.
Why might this be happening?
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Post by bikeman on May 17, 2019 12:41:46 GMT
I received my tax statement by email today. It doesn't look very official and I am not sure what the HMRC will make of it in the event of an audit.
Also, it seems remiss that I have to reply upon an email and can't download previous tax year statements
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Post by bikeman on Apr 7, 2019 19:40:11 GMT
Why are those bloody wind farm loans still not shown as 'in recovery'? I'll be ed if I'm paying tax on AC interest when my capital loss is so high.
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Post by bikeman on Apr 7, 2019 19:31:04 GMT
Raising funds to bail out us wind farm 'investors'....
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Post by bikeman on Mar 29, 2019 20:17:14 GMT
I will be happy to get any money back on these loans since I viewed P2P as gambling/investing not saving and expected losses. P2P was very profitable for me and these were my only significant loss(about £500) , if I can get most of my principal back I would be over the moon I've never really understood why investors in the MLA and GEIA accounts are being treated the same. Granted AC cocked up but GEIA investors never chose to invest in the ILI loans and we're given a lower rate on the basis of PF protection. MLA investors took a risk and accepted no PF protection.
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Post by bikeman on Mar 4, 2019 22:09:34 GMT
Which loans are we talking about - loan numbers? S*** D*** is #330 A*** G*** is #435 What effect will these two have on the PF balance?
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Post by bikeman on Mar 4, 2019 21:41:58 GMT
The first two loans that will have a provision fund payout to lenders' cash accounts for capital losses are now in process following work this month that was announced earlier. There is a little remaining work to do on how this is displayed on lenders' transaction histories but suffice to say we are near enough there now and you will be receiving cash in relation to S*** D*** and A*** G*** very shortly. Such transactions will be quicker and easier in the future you will be pleased to hear. Which loans are we talking about - loan numbers?
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