Balder
Member of DD Central
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Post by Balder on Nov 8, 2023 16:17:48 GMT
no response from Ablrate customer service
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Post by Badly Drawn Stickman on Nov 9, 2023 16:19:16 GMT
no response from Ablrate customer service Is it possible your ouija board is faulty? Pretty sure the customer facing aspect of Ablrate was akin to the Unicorn even in the 'good times'.
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Nov 10, 2023 14:14:22 GMT
Brilliant!!!........I've just had an update, updating me on the fact there is no update. It's so reassuring to be kept in the loop.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,213
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Post by ilmoro on Nov 10, 2023 14:21:05 GMT
So the regulator who's rules require lenders to be kept informed is preventing lenders from being kept informed. Oddly they aren't preventing lenders from being kept informed on the other platform winding down.
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eeyore
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Post by eeyore on Nov 10, 2023 14:31:01 GMT
"Unfortunately, due to regulatory restrictions, we are unable to provide a comprehensive update at this time, while we are able to give indivdual loan updates it really wouldn't be the full picture and we want to be completely transparent."
So what are these 'regulatory restrictions'? If Ablrate can give individual loan updates, what else is there? I can only come to the conclusion that the missing element that the FCA (or whoever) has under investigation must be Ablrate itself!
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ptr120
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Post by ptr120 on Nov 10, 2023 14:34:00 GMT
"Due to regulatory restrictions"?? I call BS.
Either BS, or this is a forerunner to the entire loanbook either being sold off, or the platform entering administration. Anyone who has been following DBW on linkedin will see that he has more or less zero focus on Ablrate anymore
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dh1
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Post by dh1 on Nov 10, 2023 14:46:16 GMT
Hmmm. The email today is in fact a substantive update as it provides information that has not been provided - or even hinted at - previously. There is a "matter" which involves "appropriate authorities".
Frankly, it is impossible to divine what the "matter" is or which "authorities" are involved from the information given, so it is not worth trying to do so at this point.
What we do know is that the "matter" is delaying loan updates; that is of great concern to me as updates are usually a small but vital part of loan management.
I prompted Ablrate yesterday about the lack of updates and following their email today, I will give them about a week before raising it with them again.
Sadly, my patience has already run out and I have no tangible understanding of the current situation, so the penultimate paragraph of the email has fallen on rather deaf ears in my case.
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agent69
Member of DD Central
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Post by agent69 on Nov 10, 2023 16:23:56 GMT
"Unfortunately, due to regulatory restrictions, we are unable to provide a comprehensive update at this time, while we are able to give indivdual loan updates it really wouldn't be the full picture and we want to be completely transparent." So there could be individual loan updates, but there is "full picture" that DBW seems to want to tell lenders about, but that the FCA is not happy about that happening (yet). Does DBW have some sort of "non standard" approach to dealing with the remnants of the loan book that he needs to work through with the FCA before it can be unveiled to lenders? Personally, I would settle for individual loan updates with the caveat that there is more information to come later. We can see from Companies House and elsewhere that a lot has happened on a few lenders that is different to the impression given by the last update. We also know that a lot of things that the last update gave the impression were going to happen imminently have not yet happened. Yes, individual loan updates would be useful at this time imo. I suspect that is the last thing they want
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macq
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Post by macq on Nov 10, 2023 19:05:10 GMT
I have spent too much time already thinking about the significance of having Pickthall as a Director of Aviation & Tech Capital Ltd (from June 2021 to March 2023) and Ablrate Assets Ltd (from March 2022 to March 2023) whilst he was also a Director of a number of borrowers, some of which had already built up significant arrears by failing to honour the terms of their loans. It certainly raises conflict of interest questions at the very least. I can't help but wonder if that is something that is now causing the FCA to raise an eyebrow in ablrate's direction? With all the inter connected loans & people it might take about Six pairs of eyebrows
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Post by davidspindle on Nov 11, 2023 0:53:03 GMT
Does the UK have an extradition treaty with Dubai?
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Post by peertopier on Nov 13, 2023 22:38:35 GMT
The latest email was designed to placate whilst saying very little. Notice the typo "we are doing everything in our power to reciver the loans". I think he means "recover".
Let's see what transpires next week then.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Nov 14, 2023 7:07:56 GMT
Typo or slip out of the truth?
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Post by overthehill on Nov 24, 2023 15:42:58 GMT
I always assumed the new costa del sol was an upgrade extradition free haven but not so apparently.
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Post by overthehill on Nov 25, 2023 17:10:18 GMT
I always assumed the new costa del sol was an upgrade extradition free haven but not so apparently.
The UAE are probably better known for putting non-criminals in jail in their own country. I wonder what level of crime a manchester city player would have to commit in the UAE to be charged?
The premier league and its 'within the rules' and inevitable yet to surface corruption has rightly enraged Everton supporters when you consider the big clubs and the big picture.
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Post by Ace on Dec 1, 2023 9:52:18 GMT
It's the ridiculous notion that, he won't give us updates on any loans because the FCA have prevented him from giving updates on some, that irks me.
It's clear that a bunch of bad actors, who are more slippery than a bucket of eels when it comes to honoring their debts, have outsmarted ABLrate so far. But, despite the interconnected web of eels across some loans, there are others that are not connected which long suffering lenders deserve to be updated on.
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