Laughable ReBS recovery projections

Without doubt this "complete shower" are the worst P2P platform I've had the misfortune to come across. It is clear that the only way I'm going to be completely shut of them is by them writing off my remaining bad debts. Luckily I never went large with them and ceased investing at a reasonably early stage so minimising the damage. But for some this platform really could prove a House of Pain.

Hello Jonno and the gang!

Gosh I bet you're glad you bullied that old stick-in-the-mud Austrian Economist off the forum   

Look, I hate to say "I told you so" - no actually I love saying it: I told you so.

You were all shepherded here by the low interest rates on your savings, you all felt like geniuses when you were looking to get 10% interest, and you've all been treated like suckers by one platform after another.

I remember three years ago people talking about how awful other platforms were and how glad they were that they moved to REBS and some of the others.

Now they're saying what a "shower" REBS is and how glad they are that they're using other platforms that are totally fine lol

Sorry guys but it's not fine, and if you've got any sense you'll adopt the exact opposite approach to your finances: instead of high risk uninformed speculations in pursuit of high yield, just try to cling to some value. Pay off any debts you have, take out some one-year bonds with stable institutions, buy some premium bonds and sit back and watch the fireworks in the government debt market, the stock market, commodities futures and the alt.finance sector.

Everything's in a bubble except common sense.

I genuinely wish all of you well. I genuinely want all of you to come out of this wearing your shirts. Am I hopeful that anyone at all will listen, even at this late stage? Nope, about as likely as Americans not 'buying the dip' today.

Ah! The stock market has had a wobble has it?? They always come out don't they?

I say buy yourself some silver and wait for the fireworks. Inflation is coming.

Another one bites the dust...

...One of mine.

A* C**m**e C*n***l Ltd.

michaelrebs lender update received 05/04/2018 presented here abridged:

"To remind lenders, the company has since been liquidated and the sole director has been adjudged as bankrupt and subsequently been discharged from his bankruptcy order. There is one other guarantor who we have thus far been unable to locate.

After reviewing the case, we have moved to reclassify this loan as a bad debt."

Once again Rebuilding Society.com and their recoveries nae we are collectively inept at recoveries team fail to locate another errant guarantor, once again this pitiful excuse for a p2p platform fails to protect its lenders interests."

Without doubt ReBS platform are up to their necks in defaults, bad debts and lender dissatisfaction and one wonders if they may even be considered worthy of patronage, except to the FCA that is.

danraj , rebsrep lest ye opt to forget your former deliberately? misleading loan profile page statement a further reminder: "Why are we safe to lend to?"

ReBS have since April 2016 protected themselves against the fallout from folly and any further blame, fully divested responsibility So in this respect and in this respect Only they do excel finding themselves sitting at the very top of the p2p league table.

Round of applause please, ticker tape parade, roll out the red carpet!

Alternately for those who find this unappealing how about an evening at the Panto guest appearance by Coco the Clown?   

I'm pleased to report that I'm now entirely shot of ReBS, managing to get my account formally closed by requesting that any future (vanishingly unlikely) recoveries on the remaining handful of zombie loan parts be donated to a charity of ReBS' choice 

Even ReBS’ predictions totalled £90 recoveries. My own, less than £20. Not having to maintain a ReBS ledger in my monthly company accounts for years to come is definitely worth more to me than that!