kevinkelly
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Rebuilding Society
Update
Feb 12, 2016 9:01:34 GMT
Post by kevinkelly on Feb 12, 2016 9:01:34 GMT
Here is this weeks update.
No update
It's not just me, is it?
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kevinkelly
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Post by kevinkelly on Feb 5, 2016 16:13:47 GMT
Can it really take up to four weeks for a bank to trace a 'missing payment'? Only when more plausible excuses are absent from a borrowers repertoire. Still, it's one step above "Cheque's in the post"
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kevinkelly
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Post by kevinkelly on Jan 28, 2016 17:26:33 GMT
I see that new loans are no longer being flagged here. A loss of interest, perhaps? I suspect the problem is loss of capital and interest. And a complete lack of any sort of response from REBS on any topic. Still waiting for someone to acknowledge my Lenders Evening feedback.
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kevinkelly
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Post by kevinkelly on Jan 28, 2016 17:22:51 GMT
Just scroll right down to the bottom of the page. Every loan past and present is listed. This info coluld hardly be called 'advertised', I had no idea it was there. Perhaps Rebs could just create a page for expired loans, and a page for defaulted loans, as well as the Secondary market page. That would be nice. How would you expect them to recognise a defaulted loan? After all, Advatec hasn't paid a monthly payment in full for over 14 months, and not a penny in the last 6 months, but is still not listed as default/bad debt.
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kevinkelly
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Post by kevinkelly on Jan 25, 2016 8:49:18 GMT
I heard nothing as I had apparently been "muted by an organiser" It's OK though, I emailed Nick in response to his "thank you for attending the webinar email" and I'm sure he'll get round to replying sometime soon with a recording of the audio so I can listen to it at my leisure. He will, won't he? And here we are, a week later, and still NO reply to my feedback email. Not even a "sorry the webinar was shite". Anyone else get the feeling that investors are just an irritation?
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kevinkelly
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Post by kevinkelly on Jan 21, 2016 14:48:46 GMT
Am I alone in disliking early repayments?
I see it like this - I put a lot of effort into carrying out my own DD but I do so as I know the return on offer should I choose to invest.
An early repayment means that I earn less than I originally thought I would, so my DD effort becomes "unpaid".
I accept that early return may be attractive to some, but collecting essentially "the contracted sum in total" is more important to me.
Thoughts?
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kevinkelly
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Post by kevinkelly on Jan 19, 2016 18:18:32 GMT
Webinars by reputable organisations usually end up on youtube. This one isn't on YouTube
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kevinkelly
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Post by kevinkelly on Jan 19, 2016 16:34:32 GMT
I heard nothing as I had apparently been "muted by an organiser" It's OK though, I emailed Nick in response to his "thank you for attending the webinar email" and I'm sure he'll get round to replying sometime soon with a recording of the audio so I can listen to it at my leisure. He will, won't he?
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kevinkelly
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Likes: 37
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Rebuilding Society
Discount
Oct 6, 2015 17:17:26 GMT
Post by kevinkelly on Oct 6, 2015 17:17:26 GMT
Would it be possible to increase the discount rate. The maximum is at 5%, and sometimes if I want to get out of a loan a better discount might help. I concur, as I might want to buy the heavily discounted loan parts
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kevinkelly
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Post by kevinkelly on Apr 30, 2015 8:17:09 GMT
Too many lies. Too many broken promises. Too many excuses.
I entered into a "partnership of sorts" when I provided my chunk of the funding. The "partner" in this enterprise has failed to deliver his side of the bargain and has yet to provide a reasonable and believable explanation as to why he thinks it OK to not pay me when payment is due.
On a wider note, all the while that lenders can fail to meet their obligations with impunity, this will continue to be an issue for lenders. Borrowers have no reason to pay on time unless they feel like it. There's no mechanism in place to actively and positively encourage borrowers to meet their obligations unless and until they default on their loan.
In future, I intend to quickly offload any loan that is late on 2 consecutive occasions. Problem is that from a borrowers viewpoint, my dumping the loan will have ZERO effect. Why should they care who holds loan parts, or who sells loan parts?
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kevinkelly
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Rebuilding Society
Website
Mar 5, 2015 11:24:42 GMT
Post by kevinkelly on Mar 5, 2015 11:24:42 GMT
Is it painfully slow for everyone?
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kevinkelly
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Post by kevinkelly on Feb 3, 2015 21:56:21 GMT
My post was a little tongue in cheek, sorry!
I was just trying to get my head round the Adv**ec scenario whereby they are supposed to be paying "interest only" but their payment record, as of today, shows 3 payments at the full rate but all applied to cover interest only.
I'm confused.
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kevinkelly
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Post by kevinkelly on Feb 3, 2015 17:33:48 GMT
My understanding of the term "interest only" may be defective.
In round number terms, if the usual repayment on a loan is £1,000 per month, and interest/capital split is 50/50, then "interest only" payment would be £500. This would cover only the month's interest, and not reduce the capital outstanding at all. Consequently there would be additional months added to the term so that the capital is repaid.
So if, for example, a borrower paid 3 months "interest only" they would pay £1,500. If they paid, say, £3,000 which is equivalent to 3 months full payment but had that applied to cover "interest only" then there would be no benefit derived by the borrower.
What am I missing?
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kevinkelly
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Post by kevinkelly on Feb 1, 2015 21:26:48 GMT
I didn't see any roasting. I did see a number of potential lenders exercising due diligence. Usually I find all the answers I need by reading questions that others have posted, and the answers to those questions (usually), so long may they continue to help me
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kevinkelly
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Post by kevinkelly on Jan 26, 2015 18:39:31 GMT
I see it is payment day for the above loan today - OK it is a Saturday so maybe on Monday then. Or maybe it'll arrive Tuesday...
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