tx
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Post by tx on Feb 27, 2018 16:57:49 GMT
If the platform fail to come back up tomorrow and pay Feb interest on time, then it is technically defaulted. That would be clear sign of cease trading. We then need to figure out how to get our money back. My heart is sinking. It's a platform update that's slightly overrun - I don't think we need to worry about platform default quite yet. They have contingency plans so an accountancy firm will step in to manage loans to maturity if anything did happen I want to be chilled like you, really. But all recent signs aren’t pointing to the right direction. Even if accountancy step in, that is provided no fraud committed and funds are still in the right place where they should be, such as segregated client account. I am just feeling more and more anxious.
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hazellend
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Post by hazellend on Feb 27, 2018 17:00:18 GMT
Anxiety is a terrible thing. No point in getting anxious about something you can’t control. Really disappointed in collateral though.
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Post by richardthe4th on Feb 27, 2018 17:05:21 GMT
I've come to terms with the fact that I've lost my money now.
It's hard....but once you do this then you can have a glass of wine and move on.
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oldgrumpy
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Post by oldgrumpy on Feb 27, 2018 17:11:07 GMT
The fact that Gordon White (obo) Peter Currie and Andrew Currie has (have) chosen not to give lenders even a brief report says a lot to me about the directors' attitude towards a mishap.
Very Lendyesque.
What a pity. "Stuff happens" which is sometimes uncontrollable. Communication regarding important updates about the platform or individual loans is controllable. Collateral has opted not to do so. I want an explanation for that choice as well now, not just a description of the problem.
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Post by beepbeepimajeep on Feb 27, 2018 17:12:11 GMT
It's a platform update that's slightly overrun - I don't think we need to worry about platform default quite yet. They have contingency plans so an accountancy firm will step in to manage loans to maturity if anything did happen Realistically our investments and money are very likely safe, although all the other signs are a bit worrying. However this has been amateur hour with the way it has been carried out and communicated with investors, and it shows a complete lack of care in that regard. Even an email would have sufficed. For that reason they can spin if they think they are getting any more deposits from me after this.
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dermot
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Post by dermot on Feb 27, 2018 17:18:37 GMT
I seems to recall that once before, the website was down for the better part of a day - anyone ? Yes, several times.
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marka
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Post by marka on Feb 27, 2018 17:57:14 GMT
Three flakes of snow and the southern softie half of the country where they think an inch is a lot (oo-er missus) is put on an emergency footing. Fixed that for you
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blink
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Post by blink on Feb 27, 2018 18:29:53 GMT
There are a lot of repayments due on the 1st March...
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jo
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Post by jo on Feb 27, 2018 18:39:51 GMT
Conundrum: If things are cool - there's virtually no downside to some kind of communication. If things aren't cool - telling a flat-out lie on your website wouldn't be the smartest thing to do (legally). Hrmm
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tx
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Post by tx on Feb 27, 2018 18:40:09 GMT
They may ran out of cash for interest payment. My heart is sinking.
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Monetus
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Post by Monetus on Feb 27, 2018 18:40:28 GMT
There are a lot of repayments due on the 1st March... I don’t want to add fuel to the fire but this crossed my mind also. Lots of big loans are repaying in the next few days. I’m hoping for all our sakes this isn’t some kind of exit scam.... It would be so easy to clear all of this up with just a simple communication. It’s incredible really...
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moist
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Post by moist on Feb 27, 2018 18:40:36 GMT
anyone live close enough to pop in tomorrow and see if anyone is still there?
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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 18:43:07 GMT
anyone live close enough to pop in tomorrow and see if anyone is still there? Don't bother as you will not get past the buildings reception. Even if you did then you would not be able to get onto their floor or into their offices. Security is tight.
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Post by beepbeepimajeep on Feb 27, 2018 18:45:35 GMT
If things aren't cool - telling a flat-out lie on your website wouldn't be the smartest thing to do (legally). I dont know I've seen it happen before on websites with lots of users money involved. "Scheduled maintenance" given as reason when really they had paid all the customer money to themselves as bonus payments and were offline for good. Did not have any effect on the legals years later.
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moist
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Post by moist on Feb 27, 2018 19:06:35 GMT
Baring in mind they have also disappeared from the forum....not looking good this one.
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