jcm9000
Member of DD Central
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Post by jcm9000 on Feb 27, 2018 13:25:30 GMT
Thanks Dan, should have thought to check DD....
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jj
Member of DD Central
Jolly Jammy
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Post by jj on Feb 27, 2018 13:40:35 GMT
You have to ask why upgrade the server just before the monthly payout & why no response from a rep.
This is not good. I have a theory & thats not good either. Let's say one or two people on here have questioned Collaterials methods.
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Feb 27, 2018 14:09:57 GMT
If this forum is not deemed to be sufficient in reach, they can use their official social channels, such as: twitter.com/CollateralUKLtdAny official statement would be better than silence (if silence continues people might start move their thinking from a 'simple' IT problem due to inexerience to a more serious issue with unauthorised access to funds) Some sort of foul play has to be a serious possibility, See also: bitcoin sites. At least coll loans are backed by something tangible, aren't they? Someone produces 5000 imaginary tokens and says they are worth £50k each and people suspend reality to believe it and invest.
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Nomad
Member of DD Central
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Post by Nomad on Feb 27, 2018 14:28:31 GMT
My list of platforms which won't see any more of my money is getting ever longer...
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IFISAcava
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Post by IFISAcava on Feb 27, 2018 14:32:23 GMT
Some sort of foul play has to be a serious possibility, See also: bitcoin sites. At least coll loans are backed by something tangible, aren't they? Someone produces 5000 imaginary tokens and says they are worth £50k each and people suspend reality to believe it and invest. Yes.... but a cyberattack with ransomware might be unpleasant, as would siphoning off cash on account. But perhaps it is all OK and there are proper backups/firewalls etc.
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hantsowl
Member of DD Central
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Post by hantsowl on Feb 27, 2018 14:53:34 GMT
At least coll loans are backed by something tangible, aren't they? Someone produces 5000 imaginary tokens and says they are worth £50k each and people suspend reality to believe it and invest. Yes.... but a cyberattack with ransomware might be unpleasant, as would siphoning off cash on account. But perhaps it is all OK and there are proper backups/firewalls etc. Maybe there was a cyberattack/ransomware. If the police are involved they may have told Collateral to keep quiet whilst investigating. This could explain the silence and why the system is down for a few days. Just speculation of course, but I prefer to imagine this rather than some convoluted pyramid scheme run by crooks and no actual 'collateral' to sell off in the case of default....
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dermot
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Post by dermot on Feb 27, 2018 14:56:40 GMT
The young lady I spoke to on the phone was very apologetic and said she was going to speak to the grown-ups (my term) this afternoon so she would have something more substantive to say, so should be worth a call just before close of business.
She also said that there was a backlog of emails and that they were very busy on the upgrades, hence why none were answered - she did give the impression that all was OK and it was just a matter of time to bring the site back up.
All that said, it only needs a functioning laptop or a smartphone to post some reassurance to the forum!
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btc
Member of DD Central
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Post by btc on Feb 27, 2018 15:22:37 GMT
How long do we need to wait? I don't want to give my money to Lendy, funding secure or Assetz
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tx
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Post by tx on Feb 27, 2018 15:24:51 GMT
I have just noticed the website is down (during daytime?) and phone goes straight to voice mail. I am a bit concerned. Is Collateral UK still trading alright?
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tx
Member of DD Central
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Post by tx on Feb 27, 2018 15:28:32 GMT
I have looked, which post? Thanks
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jcm9000
Member of DD Central
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Post by jcm9000 on Feb 27, 2018 15:29:35 GMT
Suggestions to improve website thread....
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sarahcount
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Post by sarahcount on Feb 27, 2018 15:31:07 GMT
It seems that there are a number of possible scenarios.
From some sort of IT system rebuilding work - to some activity behind the scenes that has caused the plug to be pulled - temporarily or otherwise.
In all cases there is some reputational damage.
As we know very few P2P companies make profits and certainly COL are no exception looking at their latest filed accounts.
As investors in the loans that COLL have brought to us our biggest concerns will be that the collateral is actually in place. Bling is held securely, property charges are correctly documented etc.
I have been a big fan of COLL and have found their website to look good and work well. For sure I hope that they can come through this and out the other end.
I know that the recent issue for COLL was that their biggest loan was nearing completion and struggling to fill the final contributions. They were offering a good 15% with 2% cashback. The main problem in my opinion is that there has been a slow down of new investors into P2P generally and existing investors are already fully funded waiting for other loans to repay.
The consensus here was that this Bolton development is one of the best in P2P and hopefully one way or another the remaining funds will be found to get it over the line.
I'm hoping that our investments are as safe today as they were yesterday. Our money is supposed to be in secured loans and people on this site have verified legal charges are in place. It's not like we've signed up for Minibonds in COLL thankfully.
Good luck Collateral.
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elliotn
Member of DD Central
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Post by elliotn on Feb 27, 2018 15:31:25 GMT
Offline Website, etc.
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ash83
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Post by ash83 on Feb 27, 2018 15:31:51 GMT
Also noticed the same! they seem to be down since morning. This is a bit worrying. Does anybody know anything about this?
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ash83
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Post by ash83 on Feb 27, 2018 15:34:58 GMT
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