adrian77
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Post by adrian77 on Nov 30, 2018 10:27:45 GMT
I complained about this loan in August and had yet another none reply today about future promises and was also told
- it's been since August! we were told
This is pathetic and I really worry what is actually going on here - of course they can give an update if they wanted to even if it is "yet again we have been duped".
Some sleeper member posted that I had £400 max in my FS account - stick to the day job mate as sadly this is grossly incorrect - I have nearly this sum in the LandRover loan alone.
However no need to worry as I am sure we will be told on Monday that the vehicle has been sold to the underwriter and as per the Cinema loan I am totally wrong yet again.
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Post by charlata on Nov 30, 2018 11:42:05 GMT
Maybe I'm a sleeper, but you're soporific. Don't you ever change the record?
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arby
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Post by arby on Nov 30, 2018 12:34:20 GMT
Some sleeper member posted that I had £400 max in my FS account - stick to the day job mate as sadly this is grossly incorrect - I have nearly this sum in the LandRover loan alone. However no need to worry as I am sure we will be told on Monday that the vehicle has been sold to the underwriter and as per the Cinema loan I am totally wrong yet again. While your business is your own, from memory you've mentioned in the last few weeks that you have less than 4 figures in your portfolio and separately you mentioned that you've reduced your portfolio by 90% from its max. I got the impression this meant you had a max of £10k at the peak and a max of £1k now. So I can see where the other poster got their impression from. I haven't gone and checked back on any of your messages, just pointing out why some people may be raising this point. Even if you do only have that much in it, it's still your right to question how your money is being used.
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bg
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Post by bg on Nov 30, 2018 13:26:38 GMT
Some sleeper member posted that I had £400 max in my FS account - stick to the day job mate as sadly this is grossly incorrect - I have nearly this sum in the LandRover loan alone. Yep of course....may I point out your post on bonfire night where you said:- p2pindependentforum.com/post/295729So clearly you have either found a sudden surge in confidence in the platform and have started ploughing a load of money in or are just making stuff up. Which one is it? Answers on a digital postcard.
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rs
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Post by rs on Nov 30, 2018 13:27:35 GMT
I complained about this loan in August and had yet another none reply today about future promises and was also told - it's been since August! we were told This is pathetic and I really worry what is actually going on here - of course they can give an update if they wanted to even if it is "yet again we have been duped". Some sleeper member posted that I had £400 max in my FS account - stick to the day job mate as sadly this is grossly incorrect - I have nearly this sum in the LandRover loan alone. However no need to worry as I am sure we will be told on Monday that the vehicle has been sold to the underwriter and as per the Cinema loan I am totally wrong yet again. Don't worry about this loan. After Brexit the value of defender will increase and underwriter will buy the defender in April 2019.
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arby
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Post by arby on Nov 30, 2018 13:43:54 GMT
Answers on a digital postcard. Got to give credit where it's due for that line! 
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mullet
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Post by mullet on Nov 30, 2018 14:23:18 GMT
I think what frustrates me about this loan is unlike other loans it could easily be closed out.
- With Whitehaven etc the land is worthless - there is no easy get-out
- With the power/endurance boats they are unsellable - no easy get-out there either
- God knows what is going on with the art - certainly no easy get-out there
- With some developments like the 2 remaining Llandudno flats, I think FS holding off is actually the right decision
- Other properties probably have tenants etc to kick out with makes it complicated and I understand
But here they are saying they have an underwriter (allegedly!), could close this out today if they wanted to and return all you interest and capital ...but they have chosen not to for no reason that they are prepared to give.
Makes me very suspicious. Does this magical underwriter exist? Who knows! Is the vehicle even in their possession? Don't want to even think about that
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adrian77
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Post by adrian77 on Nov 30, 2018 15:08:32 GMT
damn good question - I really hope it is !
This one is already ruining my weekend...
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r00lish67
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Post by r00lish67 on Nov 30, 2018 15:27:09 GMT
damn good question - I really hope it is ! This one is already ruining my weekend... Are you really saying that you are this troubled by this investment, which was capped at £100 per account on the PM? Does anyone else want to club together and chip in a fiver each to buy Adrian's investment from him to save his (and our) heartache? It could be the best investment we ever make.
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arby
Member of DD Central
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Post by arby on Nov 30, 2018 15:51:33 GMT
damn good question - I really hope it is ! This one is already ruining my weekend... Are you really saying that you are this troubled by this investment, which was capped at £100 per account on the PM? Does anyone else want to club together and chip in a fiver each to buy Adrian's investment from him to save his (and our) heartache? It could be the best investment we ever make. I'm in! In all seriousness, buying loans on the SM beyond the term limit surely has to be implemented at some point. It simply needs communicating that you're not purchasing something with a 12% return, rather you're purchasing something at a 30% discount, based on the your view that receivers being able to make sufficient recovery. It's the best of both worlds for people who are happy to simply cut their perceived/unrealised losses at any cost
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technik
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Post by technik on Dec 3, 2018 16:45:15 GMT
I'm in! In all seriousness, buying loans on the SM beyond the term limit surely has to be implemented at some point. It simply needs communicating that you're not purchasing something with a 12% return, rather you're purchasing something at a 30% discount, based on the your view that receivers being able to make sufficient recovery. It's the best of both worlds for people who are happy to simply cut their perceived/unrealised losses at any cost At any cost is the real crux of that isn't it? Given lack of meaningful updates on overdues there is little useful information to actually derive a valuation from. Would be such a lottery! Not disagreeing with you at all or that it could be good to have to help people just get out, just thinking what that scenario would look like!
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stev
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Post by stev on Dec 24, 2018 1:20:35 GMT
On 05/11/2018, FS wrote “The borrower has a number of projects which are due to mature by the end of November at which point the loan should be repaid. If not repaid by then, the vehicle will be sold to the underwriter. Interest continues to accrue and is underwritten to the date the loan is closed.” That sounds definite but the end of November was over 3 weeks ago and the loan is 7 months overdue. It is time that FS kept their word.
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rs
Member of DD Central
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Post by rs on Dec 25, 2018 18:29:54 GMT
On 05/11/2018, FS wrote “The borrower has a number of projects which are due to mature by the end of November at which point the loan should be repaid. If not repaid by then, the vehicle will be sold to the underwriter. Interest continues to accrue and is underwritten to the date the loan is closed.” That sounds definite but the end of November was over 3 weeks ago and the loan is 7 months overdue. It is time that FS kept their word. Underwriter is on Xmas holiday so this will be another update in the new year. Also the borrowers project is delayed so FS will wait until March 2019 before deciding to enforce the underwriter buys the vehicle! I hope I'm wrong about this but let's wait and see.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Dec 25, 2018 18:51:47 GMT
Time to get the act together..Any physical non property assets should have 50% max LTV and a guaranteed buyer at termination if not redeemed before the loan issued and sold within 3 months if not redeemed.
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adrian77
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Post by adrian77 on Jan 1, 2019 9:13:50 GMT
.Well we are now in 2019 so where is my damn money FS!
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