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Post by timarchover on Feb 19, 2019 15:43:45 GMT
Good afternoon roberti, I am sorry that you are disappointed with the recovery situation for this business, however ArchOver are doing all that they can to recover the outstanding funds. We are wary that this process has taken longer than first expected, but we have made sure we have kept Lenders up to date throughout the duration. As a Lender to the S&I projects, you have already received 17.4% back of your original capital investment, we are expecting more capital repayments to be made in the near future. ArchOver has always been very cautious in the recovery forecasts and there is always a chance that the recovery amount could be greater than the figure forecast in the email updates. As you will have seen in the most recent update there are many avenues that ArchOver are chasing, but due to the nature of this business and the industry in which it sits, there are always disputes and delays. |
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Post by captainb on Dec 21, 2019 14:49:52 GMT
10 months on and still alive and waiting.
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Nomad
Member of DD Central
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Post by Nomad on Dec 22, 2019 1:57:47 GMT
10 months on and still alive and waiting. And it seems like almost every new loan on the platform is for a company showing large historic losses, but large projected profits just around the corner...
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Nomad
Member of DD Central
Posts: 711
Likes: 478
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Post by Nomad on Dec 23, 2019 20:58:32 GMT
10 months on and still alive and waiting. Brief email update received today.
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Nomad
Member of DD Central
Posts: 711
Likes: 478
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Post by Nomad on Jul 2, 2021 11:20:36 GMT
Perhaps some light at the end of the tunnel?
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Post by overthehill on Jul 3, 2021 9:55:08 GMT
Perhaps some light at the end of the tunnel? That is good news for all investors in or out of that loan. I have 2 loans which are still in a dark labryinth. The borrowers have been tap dancing around Archover 4 months shy of 3 years now. I will take a fresh look at Archover if my loans are recovered and capital loss is minimal but it will depend on how many loans have defaulted and been recovered since the time I exited.
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Post by roberti on Jul 16, 2021 5:43:59 GMT
Wary of this whole recovery process !!
Looks like there are smarter people (crooks) out there than Archover.
So what happened to the initial recovery payment due last week?
SIGH!!
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Nomad
Member of DD Central
Posts: 711
Likes: 478
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Post by Nomad on Jul 16, 2021 8:38:17 GMT
Wary of this whole recovery process !! Looks like there are smarter people (crooks) out there than Archover. So what happened to the initial recovery payment due last week? SIGH!! They "hoped" to pay out then...
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Steerpike
Member of DD Central
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Post by Steerpike on Sept 1, 2021 17:17:46 GMT
Disappointing. Jan 2018 to September 2021 25.58% recovery.
Estimated recovery in email from Archover dated 27-Nov-18 was ~75% and this figure was confirmed on 2-May-19 and again on 8-Aug-19, sadly reduced to "no more than 70%" on 24-Oct-19.
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Post by overthehill on Sept 1, 2021 19:29:21 GMT
Disappointing. Jan 2018 to September 2021 25.58% recovery.
Estimated recovery in email from Archover dated 27-Nov-18 was ~75% and this figure was confirmed on 2-May-19 and again on 8-Aug-19, sadly reduced to "no more than 70%" on 24-Oct-19.
Is the recovery still on-going?
I've still got two on-going with nothing returned so far worth mentioning. I know there were more defaults from around that time, don't know what's happened since then. I exited asap at the time of the defaults and won't be returning for a fresh look until I see the recovery outcomes. I find it hard to make an objective assessment. It's good that they haven't given up but only results will determine their competence level.
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Post by captainb on Sept 2, 2021 17:33:05 GMT
I got £48 back from 1000. Spent it on lunch. Over 3 years and lost £952. Not very impressed.
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Post by overthehill on Sept 2, 2021 18:38:16 GMT
I got £48 back from 1000. Spent it on lunch. Over 3 years and lost £952. Not very impressed. I can beat that, one of my loans in recovery has returned 5.4%, £54, the other one nowt.
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archie
Posts: 1,816
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Post by archie on Sept 3, 2021 7:04:04 GMT
I got £48 back from 1000. Spent it on lunch. Over 3 years and lost £952. Not very impressed. £48 was the latest payment. There were earlier payments of £32 and £174. Total remaining on £1000 appears to be £744.21.
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Post by overthehill on Sept 3, 2021 9:54:40 GMT
I got £48 back from 1000. Spent it on lunch. Over 3 years and lost £952. Not very impressed. £48 was the latest payment. There were earlier payments of £32 and £174. Total remaining on £1000 appears to be £744.21. You get a payment every xmas. Nothing in my card...
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Post by captainb on Nov 1, 2021 9:02:33 GMT
I have had 70 back in total. £930 still invested.
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