11025
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Post by 11025 on Mar 1, 2018 9:27:49 GMT
Well , the email address for JH is loud and proud when you search on google - so I wouldn't worry too much  |
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pikestaff
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Post by pikestaff on Mar 1, 2018 9:27:55 GMT
I take it you had permission given to post Jessica's email address in a public place micky . seriously Stub! Whose side are you actually on? The lenders' side, I would suggest. I'm not in Collateral, but I'd advise lenders NOT to bombard the administrators with questions. They are normally paid on a time basis, so the more time they waste dealing with premature questions the less cash will be left for lenders. Loans invested are not at risk, but uninvested cash, including cash earmarked for undrawn loans, probably is. As is interest on loans, to the extent this was withheld at drawdown. Better to sit tight and wait for further communications from the administrators in due course.
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m2btj
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Post by m2btj on Mar 1, 2018 9:29:34 GMT
I believe we'll all be happy to see the website up again. A non functional site will give us all a snapshot of where we are with our current investment/cash status.
A good Administrator will soon familiarise themselves with a companies accounting systems. I expect them to be working with the Coll senior management team in this matter. They will also contract specialist help where required. If the loan book or business can be saved I'd like to see it taken over by another Manchester based platorm looking to grow. From my experience that platform is well run & resourced to absorb Colls property book.
It would also assist the Administrator if we could establish a single point of contact for our questions.....a kind of class action. This would make communication faster & easier.
Early days, it's just a case of sitting tight for the moment & let the Administrator do their initial work.
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pikestaff
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Post by pikestaff on Mar 1, 2018 9:35:07 GMT
...If the loan book or business can be saved I'd like to see it taken over by another Manchester based platorm looking to grow. From my experience that platform is well run & resourced to absorb Colls property book... I'd be surprised if they wanted it. It's probably full of loans they rejected (or would not even have considered), and it would likely be a severe distraction in terms of admin required. I suspect that Collateral, with the FCA and their advisers, will have been trying to secure a sale for weeks. The fact that administration has happened without a prepack sale suggests to me that it's proving difficult to find a buyer.
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Post by dualinvestor on Mar 1, 2018 9:36:37 GMT
I hope the loans can be 'sold off' (given) to other platform(s) keeps administration costs down. As been said before most platforms have an agreement with another platform to 'help' out in these situations (appreciate saying in blurb could be different to reality), if this is the case it would be more positive. My concern here is Administrator costs and if there is any money here to move this forward. We may have to forgo some interest to cover their costs to run (if we get any interest)? happy to give some of my interest to keep it ticking over as long as they use it appropriately! You never know there may be some of us retired folk who can do some community service to help! The loans cannot be sold off they do not belong to Collateral however management of them can. To sell the loans the Administrators would need the consent of the lenders unless thryy have already done so by signing up to the t&cs
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Post by Deleted on Mar 1, 2018 9:36:59 GMT
Well , the email address for JH is loud and proud when you search on google - so I wouldn't worry too much As she gets paid by the hour, why would she mind not getting buried in email? As others are saying, leave her to get on with her work. Unless you are actually a creditor/debtor of the business and want to destrain goods you might as well leave it to stew.
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Post by dan1 on Mar 1, 2018 9:38:02 GMT
Every letter, every phone call, every email, every pencil, every note pad every visit *will* be added to the administrators bill and, by law, administrators get paid before everyone else. Something to think about perhaps. /Mod hat off I'd just like to emphasise this point. It will be our funds that will pay to deal with every email, telephone call, letter that the administrators receive. Please think carefully before you pick up the phone or write an email. I for one will not be contacting them today, they need time to get to grips with the task in hand. I don't mean this to sound patronising and I understand this really is squeaky bum stuff but at the end of the day we all invested to make money so think carefully before reducing those returns in exchange for peace of mind.
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jcm9000
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Post by jcm9000 on Mar 1, 2018 9:40:12 GMT
We are just considering the practicalities of reopening the website in order for people to view their balances. I am hoping this is something that can be done, but I need to discuss it further with the Directors. So at present I can’t say for definite that this will be an option. If a balance of funds was transferred over yesterday, these will returned to you once I am able to access the bank and reconcile the accounts. How did you receive this info btc? Indeed - did this come from the administrators? Absolutely in agreement with the other calls - lay off the administrators, at least for now. It will take them time to figure this all out. As an ICAS CA I shall reserve judgement on my ICAEW brothers and sisters (only kidding....they'll do a professional job and I am heartened this has gone to a proper firm, but again please let them do their job).
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hazellend
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Post by hazellend on Mar 1, 2018 9:40:37 GMT
Nobody should be emailing the administrators.
I have 6 figures with col so just want them to sort this out as soon as possible.
I am still amazed this FCA error has been made by Col, who seemed to be an incredibly dilligent bunch.
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Post by supernumerary on Mar 1, 2018 9:43:17 GMT
As someone who has over £1000 on this platform do I have to write in a per the letter? I have no record of my investments  You will have email confirmations of your investments. If you have a search engine in your email account and type in 'collateral part funding notice', you will see your investments. I hope that helps you and others. 
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jcm9000
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Post by jcm9000 on Mar 1, 2018 9:44:08 GMT
As someone who has over £1000 on this platform do I have to write in a per the letter? I have no record of my investments You will have email confirmations of your investments. If you have a search engine in your email account and type in 'collateral part funding notice', you will see your investments. I hope that helps you and others. Aye, if we didn't hit the delete key on all the notification emails like total dafties to keep the email box clear... doh...
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11025
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Post by 11025 on Mar 1, 2018 9:44:25 GMT
Nobody should be emailing the administrators. I have 6 figures with col so just want them to sort this out as soon as possible. I am still amazed this FCA error has been made by Col, who seemed to be an incredibly dilligent bunch. Couldn't agree more ,
maybe more will transpire but I was up until now happy with the way this ran and their level of communication ....
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sj
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Post by sj on Mar 1, 2018 9:46:00 GMT
Nobody should be emailing the administrators. I have 6 figures with col so just want them to sort this out as soon as possible. I am still amazed this FCA error has been made by Col, who seemed to be an incredibly dilligent bunch. Error? This was no error, there was deliberate deception at play here (I refer you to the unannounced changing of T&Cs as proof). They knew full well what they were doing. Hopefully they'll incur the full wrath of the authorities!
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11025
Member of DD Central
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Post by 11025 on Mar 1, 2018 9:47:39 GMT
Well , the email address for JH is loud and proud when you search on google - so I wouldn't worry too much As she gets paid by the hour, why would she mind not getting buried in email? As others are saying, leave her to get on with her work. Unless you are actually a creditor/debtor of the business and want to destrain goods you might as well leave it to stew. Sorry I should have worded that better , I meant don't get into a forum disagreement over it
not for everyone to email her !
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Post by supernumerary on Mar 1, 2018 10:02:14 GMT
You will have email confirmations of your investments. If you have a search engine in your email account and type in 'collateral part funding notice', you will see your investments. I hope that helps you and others. Aye, if we didn't hit the delete key on all the notification emails like total dafties to keep the email box clear... doh... I remember having to pay a company plenty of money because my then email address was Hotmail and if you didn't use it for a month all records were wiped... Learning from that 'costly experience', all my transactions are done using a GMail account, which has a vast storage ability and I don't delete anything... I hope everybody is staying calm. Not pleasant I know, but from my reading of it and guessing, if the platform does get the FCA approval, it MAY BE up and running again. Who knows? 
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