pom
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Post by pom on Apr 9, 2020 10:03:17 GMT
I have no objection given the current climate to the idea behind this, but I do rather wonder on what basis it'll now be paid "To check the amount of funds which have qualified for the promotion, simply log into your account and look in the 'My Promotions' section of your dashboard." This is as clear as mud - we are past 6/4/20....and I already realised (on the 6th) that my eligible ISA funds (which were originally invested in the PSA & GBBA) had in fact dropped after AC switched off "invest idle funds"....and what is showing today has dropped further. So will be be paid based on 6/4 balance...or on the days AC make the payments? We were expecting a few hundred today and are not pleased to find the Assetz have unilaterally broken their contract with us, on the date of payment that is. The qualifying amount was that shown on 6 April, and they have said nothing about any changes to the qualifying amount calculation - there could be no excuse for changing it. Best to take a record of what that was. For those who took the more recent promotion, presumably they go to the back of the queue for the delayed payment of promotions.
Yeah unfortunately I don't have a time machine, and silly me, assumed the tracker would at least be frozen when the promo period ended
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pom
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Post by pom on Apr 9, 2020 9:47:30 GMT
I have no objection given the current climate to the idea behind this, but I do rather wonder on what basis it'll now be paid
"To check the amount of funds which have qualified for the promotion, simply log into your account and look in the 'My Promotions' section of your dashboard."
This is as clear as mud - we are past 6/4/20....and I already realised (on the 5th or 6th) that my eligible ISA funds (which were mostly originally invested in the PSA & GBBA) had in fact dropped after AC switched off "invest idle funds"....and what is showing today has dropped further. So will we be paid based on 6/4 balance...or on the days AC make the payments?
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pom
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Post by pom on Apr 2, 2020 9:50:51 GMT
I understand that Cocaine consumption is way down while MaryJane use is way up with people "chilling" through the crisis.
Imagine the queues to buy this stuff "keep 2 metres apart" just hide behind the next car....
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pom
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Post by pom on Apr 2, 2020 9:31:13 GMT
Would like to know who bought it and if an associate of te borrower As it was based on the best of "full and final offers" it'd be academic. Given covid etc I'm rather glad the sale has already happened so that a) its sold and b) the valuer can't argue "we couldn't have predicted covid" (because I suspect that will be happening a LOT)
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pom
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Post by pom on Apr 2, 2020 9:29:17 GMT
So to do the math - 80% loss for lenders - only 20% of the value of former 4.12m as result ?! - 1/3 for administration fees etc. ?! I'm not impressed at all.
Well make sure you direct your ire in the right direction. If it had achieved anything like the predicted value the fees would have been proportionately minimal. Total no brainer for me, option 2
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pom
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Post by pom on Mar 29, 2020 17:28:02 GMT
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pom
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Post by pom on Mar 14, 2020 17:54:31 GMT
pom How has it been going with Energise Africa since you last posted? What you wrote last year sounded quite promising... I'm looking for other 'green' investment opportunities and some international diversification, and this ticks the boxes. How often do they release new bonds? I also have some investments in Abundance which seem to have been mostly ok although this coming year will be the real test as some of my investments there mature and we'll see what happens at that point... Everything is performing well, but new listings are mostly further bond issues for the same companies (which doesn't entirely fill me with confidence), so that plus a need to rebalance anyway means I'm winding down
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pom
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Post by pom on Mar 1, 2020 21:11:19 GMT
I don't mean to offend anyone. It is a genuine question and I would appreciate your point of view I think it depends a lot on how much you trust the platform and their valuations, after all lendy made a big thing about how it wasn't about the borrower but the security and that did not work out well.... Personally I think there's far better chance of BC getting it right, but not surprised they've pulled it in the circumstances...they need to maintain investor confidence
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pom
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Post by pom on Feb 25, 2020 8:48:13 GMT
FYI LB have already forwarded me my tax cert...LW will have to wait until they generate them all in April.
On the "bright" side if AC do manage to merge the accounts at least I'll be able to forget about this account more quickly than I might have otherwise.
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pom
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Post by pom on Feb 24, 2020 13:19:31 GMT
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Post by pom on Feb 24, 2020 13:18:23 GMT
See also p2pindependentforum.com/thread/16779/merging-unsellable-loans-personal-account but putting this here as it's not just AC that's going to be a problem.... I emailed Orca to ask how we should get tax statements from the other platforms they invested us in... "Thanks for your message this is an important point. From last week we no longer have access to the accounts and therefore tax statements can only be provided directly by the P2P platforms where the holdings were held." So that's nice. I only invested the minimum to get the bonus (moral of the story, bonuses really aren't worth chasing unless you actually like the platform and want to invest - I didn't, couldn't see who their model would really benefit, except them obviously - but I also wasn't an AC customer then so had no idea it might take this long to exit) so at least only need to worry about LB and LW, and have already emailed them to see what hoops I might have to jump through there. Will update when I find out. I'd like to think that since "this is an important point" there might be a further communication from Orca to advise us we'll need to do this but I won't hold my breath.
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pom
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Post by pom on Feb 21, 2020 13:40:02 GMT
Having finally got around to replying to the initial email I got from AC yesterday (requesting a pretty silly amount of confirmatory info given it came from my registered address, but hey ho, one size doesn't fit all), whereas yesterday they were saying they couldn't merge the accounts they now say they're looking into the option of merging them. I suspect Orca might not have given them much warning.
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pom
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Post by pom on Feb 20, 2020 10:53:31 GMT
Is orca struggling as a company or is this just an AC issue for orca. I was wary of lending through orca when they first introduced their offers. I didn;t in the end bother couldn't see the benefits for me personally. There weren't any for anyone already investing in p2p, and I recall being very dismissive of them. Then they offered a silly bonus so I thought if they're going to be that foolish.......I never thought about how difficult it might be to exit though, I requested withdrawal last June and am now under £8!!! So stuartassetzcapital I'll second SteveT this makes NO sense for any of us. I'm sure that for those of us that are existing customers you have more than enough info to work out we are who we say we are and that all details match. Otherwise at least give us the option to donate to charity, because I really don't need loads of hassle for £7.82. EDIT actually scrap that charity option as it won't "fix" the problem because I'm still going to need a tax statement (and how the heck are we supposed to get them from the other already exited platforms I wonder? Already emailed Orca to ask).
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pom
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Post by pom on Feb 19, 2020 10:38:16 GMT
Whey hey, didn’t get an email, but another 35p recovery credited on 11Feb2020 Happy Daze Oooh thanks for the tip off.... 44p for me (still not got enough for a withdrawal tho). Which is slightly worrying as that appears to be how much I was getting from the "weekly" payments that happened for a few weeks and then stopped, so I hope they've not been conned into thinking the borrower will now pay those regularly again.
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pom
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Post by pom on Feb 15, 2020 21:53:22 GMT
The Cash ISA suggestion is better than sending the ISA to the slow previous provider. Thanks. it would mean selling my lovely ablerate loans, putting the resulting cash in a cash isa and then transferring that cash ISA back to ablerate so I can buy them all again. I've convinced myself I shouldn't have to do this but may be wrong.
It would take maybe 2-3 months in interest losses and the difference between sale and purchase price on the SM - perhaps £500 losses?
Silly question, why do I have to wait till next FY? I'm using this year's allowance.
I'm not getting this bit. For one thing even if you were able to transfer your existing ISA subscription over to ABL, you'd still need to sell loans if you wanted to transfer that money into your ISA (I guess your intention was to sell loans between your regular & ISA accounts?)....tho I'm not sure how you could possibly lose £500 on <20k worth of loans!!!! The suggestion that you're investing in high risk platforms (yes ABL are good but they do have some loans in trouble and sooner or later there will be some real losses) yet apparently have <20k in cash (if you need to sell loans to top up the rest of your ISA subscription) also makes me nervous. I just don't really think it's a good time to be counting on liquidity
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