eeyore
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Post by eeyore on Nov 10, 2017 15:16:38 GMT
It may be a provable fact that x has mis-stated facts when seeking a p2p loan - but try proving that was fraudulent is another matter Agreed, but there should be no problem if the poster simply shows that "x has mis-stated facts when seeking a p2p loan" without making any claim that x has been fraudulent. I'd assume that readers of the forum would be able to make up their own minds about whether mis-stating facts when seeking a loan is fraudulent or not. Wouldn't it depend on circumstances, whether the mis-statement was deliberate and crucially the impact that the difference between the correct and the erroneous statements would have on whether to invest?
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mullet
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Post by mullet on Nov 10, 2017 15:18:35 GMT
I don't really get the 50 posts things - it seems a bit like punishing people that are thoughtful in what they post rather than just typing the 1st thing that comes into their minds ....anyway only 31 to go  |
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Post by jackpease on Nov 10, 2017 15:45:24 GMT
there should be no problem if the poster simply shows that "x has mis-stated facts when seeking a p2p loan" without making any claim that x has been fraudulent. I'd assume that readers of the forum would be able to make up their own minds about whether mis-stating facts when seeking a loan is fraudulent or not. Wouldn't it depend on circumstances, whether the mis-statement was deliberate and crucially the impact that the difference between the correct and the erroneous statements would have on whether to invest? Unfortunately time and time again on this forum posters who lose money instead of reminding themselves of the meaning of the word 'risk' they turn on the platform and/or borrower and start questioning their motives which is where it all starts to get legally dangerous. Jack P
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Post by mrclondon on Nov 10, 2017 15:46:02 GMT
eeyore some good points made. Unfortunately human nature being what it is there remains a substantial risk. In the heat of the moment, indignation kicks in, and what we type (me included on occaisons) crosses the line. And just as with climate change, there are a copious number of deniers that won't accept there are liability issues associated with posting on a forum whether public or private.
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dermot
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Post by dermot on Nov 10, 2017 16:25:49 GMT
I've often wondered how 'Have I got News for You' gets away with so much; allegedly, it is the use of the word allegedly that lets them off the hook. Not that I've heard of this being tested in court.
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shimself
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Post by shimself on Nov 10, 2017 16:32:39 GMT
If a firm/individual is named along with words like fraudulent or roguish behaviour do we really think they are going to let that stand? Jack P I would let it stand if I were said villain, because most lenders are not on the forum so it won't make much difference, but if the story gets in the papers the maligned person will definitely be worse off. In any case they have to demonstrate an actual loss, not hurt feelings
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Post by ogglet on Nov 10, 2017 16:35:00 GMT
I don't really get the 50 posts things - it seems a bit like punishing people that are thoughtful in what they post rather than just typing the 1st thing that comes into their minds ....anyway only 31 to go Agreed....and this is my first and probably only (unthoughtful) post
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eeyore
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Post by eeyore on Nov 10, 2017 17:19:26 GMT
... and what we type .... crosses the line. Isn't this what moderators are supposed to pick up and edit or delete? I hope I never post anything intemperate or defamatory but I'm sure I'd accept having it pointed out when I've crossed the line. As the moderator for the last ten years of a single-make car forum, I've rarely had to ask for a post to be changed or withdrawn and only once has a poster refused and left the forum in a huff. But as jackpease points out, when substantial sums of money are at stake, stress levels get high. Anyway, I think we're all agreed that defamatory posts are a "bad thing" even on a closed group forum.
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Post by mrclondon on Nov 10, 2017 17:50:36 GMT
... and what we type .... crosses the line. Isn't this what moderators are supposed to pick up and edit or delete? To be clear, that is not what the moderators are supposed to do. It is the responsibility of the poster to ensure the line isn't crossed for their own protection, and it should be the aim of every forum member to be looking out for the interests of their fellow forum members by reporting posts (via the option under the cog menu on each post) that may have crossed the line so they can be investigated and if necessary dealt with by the mods. Moderators are supposed to attempt to apply the forum rules as consistently as we can, on posts that we read (in my case probably less than 0.5% of the posts on the forum) and on posts that are reported to us by other forum members. Only a fraction of posts that should be reported actually are, and a large number of borderline ones slip through. One of the forum rules requires the redaction of details that enable an asset or borrower to be identified directly from links or a text search. Such redactions should reduce (not eliminate) the liability of the poster. On DD Central there are, and will be, no such redactions.
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Post by moneymakingmoney on Nov 11, 2017 3:17:12 GMT
Can I ask what DD stands for? as for now it sounds like most of the platforms are in the US. Is there a similar forum for EU platforms? DD = due dilligence i.e. researching a prospective loan to understand as much as possible of the background behind the secured asset, the borrower and their business practises, the borrower's directors and majority shareholders etc. The five platforms which we have created sub-boards for initially are in the UK (I guess the US in your post was a typo) and represent the five largest p2p platforms that offer individual loan selection that do not have a private forum / private forum board. Other sub-boards will be created as needed, and just like the rest of the forum sections, there is a general board on which to discuss loan DD for platforms which don't have a sub-board. If the reference to US wasn't a typo - one additional comment is that normally US based investments can not be promoted to EU citizens (and vice versa), so this forum is focused purely on UK/EU platforms. maybe slighly off topic, but can non-UK residents invest in UK platforms?
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pikestaff
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Post by pikestaff on Nov 11, 2017 8:05:13 GMT
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09dolphin
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Post by 09dolphin on Nov 11, 2017 10:12:41 GMT
This section of the forum has been live for 3 days and has 5 pages of comments although I can't see a single comment that relates to the DD of any one loan, which is what this forum is supposed to be about. Perhaps the comments about DD are "lost" or perhaps don't exist!
Frankly I have better things to do with my time than read the sort of comments posted. I think I would be better off spending time on doing my own DD and continue to look for one of the few "gems" FS offer amongst their plethora of offerings.
Sorry but this isn't a section of the forum I have any interest in at the present time. I agree the concept is good but it's sad that the discussion has been about legal liability. Good luck to those who subscribe but I think it may be some time before your time spent is rewarded. My final comment is if you don't know the comment is true and can't prove it don't make it = no legal liability.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Nov 11, 2017 10:16:23 GMT
The DD information is in the DD Central itself, not on view here in this general comments thread.
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archie
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Post by archie on Nov 11, 2017 10:18:44 GMT
This section of the forum has been live for 3 days and has 5 pages of comments although I can't see a single comment that relates to the DD of any one loan, which is what this forum is supposed to be about. Perhaps the comments about DD are "lost" or perhaps don't exist!
Frankly I have better things to do with my time than read the sort of comments posted. I think I would be better off spending time on doing my own DD and continue to look for one of the few "gems" FS offer amongst their plethora of offerings.
Sorry but this isn't a section of the forum I have any interest in at the present time. I agree the concept is good but it's sad that the discussion has been about legal liability. Good luck to those who subscribe but I think it may be some time before your time spent is rewarded. My final comment is if you don't know the comment is true and can't prove it don't make it = no legal liability.
Surely you'd need to be a member to see the DD pages. The DD Central section won't be visible unless you are. Edit: Crossed with oldgrumpy
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archie
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Post by archie on Nov 11, 2017 11:31:35 GMT
and there is much goodness to be had in there all for free. I’m at a loss to understand what reason there would be not to join that group tbh archie ? I don't think I'd be much help. I haven't ruled out joining. 
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