jonno
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nil satis nisi optimum
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Post by jonno on Dec 29, 2018 13:25:47 GMT
If it looks like a duck and quacks like a duck what is the point of getting an update telling you it is a goose? Just in case there is any fowl play.
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Post by Ace on Dec 29, 2018 14:20:21 GMT
If it looks like a duck and quacks like a duck what is the point of getting an update telling you it is a goose? Just in case there is any fowl play. Lenders in this one could be in for a poultry return
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amwinv
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Post by amwinv on Dec 29, 2018 14:29:58 GMT
Just in case there is any fowl play. Lenders in this one could be in for a poultry return I'm sure the borrower isn't being intentionally mal-pheasant.
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Nomad
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Post by Nomad on Dec 30, 2018 6:52:09 GMT
Lenders in this one could be in for a poultry return I'm sure the borrower isn't being intentionally mal-pheasant. For me, this proposition smelled like some sort of bird p**p from the get-go. I note that the last MT update to make any mention of the business possibly starting to trade was back on Oct 19th. On Sep 27th the company tweeted "The countdown has begun!" - but they have been silent ever since.
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archie
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Post by archie on Dec 30, 2018 7:30:11 GMT
I note that the last MT update to make any mention of the business possibly starting to trade was back on Oct 19th. On Sep 27th the company tweeted "The countdown has begun!" - but they have been silent ever since. I've no idea why it's still not trading. Reading through the messages on their Facebook page, two weeks ago it mentions they will be using staff from a temp agency when they open. Possibly they need the refinance to complete before opening.
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Post by charliebrown on Dec 30, 2018 9:35:40 GMT
If the borrower had paid some of the interest owed I’d have felt much better. The fact that we were told interest would be paid and it wasn’t is a red flag in my experience. Once the lies start it’s a slippery slope.
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averageguy
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Post by averageguy on Dec 30, 2018 14:57:10 GMT
If the borrower had paid some of the interest owed I’d have felt much better. The fact that we were told interest would be paid and it wasn’t is a red flag in my experience. Once the lies start it’s a slippery slope. Like I said before...it wasn't quite a ''we will be paid'' but ''aim to pay'' ..maybe semantics...but personally enough to make a difference in expectation
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Post by queenvictoria on Dec 31, 2018 8:46:51 GMT
If the borrower had paid some of the interest owed I’d have felt much better. The fact that we were told interest would be paid and it wasn’t is a red flag in my experience. Once the lies start it’s a slippery slope. Like I said before...it wasn't quite a ''we will be paid'' but ''aim to pay'' ..maybe semantics...but personally enough to make a difference in expectation 'Aim' is different to 'promise', you are right, but I am disappointed that MT did not in some way acknowledge and report on the failure to meet the aim. Looking back, the 'aim' was pretty unrealistic. The update where it was mentioned was on the Tuesday (18th) and the aim was to have been completed 'by the end of this week' (i.e. by Fri 21st). That seems unrealistic rather like a previous update (16th Nov) which gave a Saturday (8th Dec) completion date for the refinance which similarly did not happen although at least on that occasion MT provided an update in advance of the failure (7th). I don't know why MT is prepared to mortgage its own good reputation by being sloppy with updates. They have to be careful what they say, of course, but to simply report an unrealistic aim and then let it pass without comment make it seem that the aim is shared by them and therefore is a failure shared by them. Doesn't it?
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averageguy
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Post by averageguy on Dec 31, 2018 9:38:24 GMT
Like I said before...it wasn't quite a ''we will be paid'' but ''aim to pay'' ..maybe semantics...but personally enough to make a difference in expectation 'Aim' is different to 'promise', you are right, but I am disappointed that MT did not in some way acknowledge and report on the failure to meet the aim. Looking back, the 'aim' was pretty unrealistic. The update where it was mentioned was on the Tuesday (18th) and the aim was to have been completed 'by the end of this week' (i.e. by Fri 21st). That seems unrealistic rather like a previous update (16th Nov) which gave a Saturday (8th Dec) completion date for the refinance which similarly did not happen although at least on that occasion MT provided an update in advance of the failure (7th). I don't know why MT is prepared to mortgage its own good reputation by being sloppy with updates. They have to be careful what they say, of course, but to simply report an unrealistic aim and then let it pass without comment make it seem that the aim is shared by them and therefore is a failure shared by them. Doesn't it? I don't disagree with your comments but perhaps the communication is down to the Xmas/new year break...certainly I would be disappointed if nothing happens this week....I've stated before that I have very little skin in the game on this one, so perhaps I can afford to be a tad more charitable....wish you well on this one Queenie
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Post by queenvictoria on Jan 1, 2019 8:32:16 GMT
Yes, you may be right averageguy but I wouldn't have thought is was difficult for MT to have predicted that the xmas break would be just around the corner when stating the 'aim'.
Its just the latest of a long list of failures to meet promises/deadlines/targets/aims on this loan.
Anyway, HNY to you. Here's hoping that 2019 will be a decent one.
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cedarcourtcapital
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Listening is not the same as understanding
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Post by cedarcourtcapital on Jan 1, 2019 10:12:50 GMT
It seems to me that to updates are a difficult things for platforms to get right. If they push for something to post, something they have been told by their client, this is at first perceived as good. However if the client fails to follow through by not complying, they have the issue of being blamed. Remember updates are usually required for 'problem' loans, ones in some form of trouble. Are updates really likely to prove reliable in these cases? Anyone who gets upset by broken promises needs to understand the facts of problem P2P loans.
The alternative to reporting 'speculative' updates, is only reporting hard information. Personally I would prefer this, but I am not a worrier. I understand you cannot worry about things you cannot control.
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dovap
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Post by dovap on Jan 1, 2019 11:42:52 GMT
to be fair it was only an 'aim to be able' maybe they were indeed able just cba to actually pay ?
actions speak louder etc
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Post by charliebrown on Jan 3, 2019 12:03:13 GMT
Just got off the phone to my bank, told them I would aim to pay my mortgage this month. Spoke to a lovely chap who said it was ok as when they lent me the money they were only hoping I’d pay it back.
MT’s updates are getting worse, they didn’t hire that Paul guy from Lendy did they?
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jonno
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nil satis nisi optimum
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Post by jonno on Jan 3, 2019 12:20:10 GMT
Just got off the phone to my bank, told them I would aim to pay my mortgage this month. Spoke to a lovely chap who said it was ok as when they lent me the money they were only hoping I’d pay it back. MT’s updates are getting worse, they didn’t hire that Paul guy from Lendy did they? No. I think he's working at your bank.
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averageguy
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Post by averageguy on Jan 3, 2019 12:30:16 GMT
to be fair it was only an 'aim to be able' maybe they were indeed able just cba to actually pay ? actions speak louder etc Maybe it wasnt
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