ceejay
Posts: 975 
Likes: 1,149
|
Post by ceejay on Apr 9, 2018 9:45:11 GMT
Fortunately I don't NEED the relatively small amount I have locked up in COL, although if the platform had stayed up then I would probably have withdrawn a good chunk of my investment by now.
I dipped my toe in the water in January; quite liked what I saw and so doubled up in February. But there's nothing like having some skin in the game to really get to understand how a platform works, and I quickly came to the conclusion that this wasn't the place for me. I decided to remove cash as it became available - and then the stuff hit the fan.
Ho hum.
|
|
amanda373
Anyone downloaded the full transcript of the Court Session with the FCA. .?
Posts: 56
Likes: 76
|
Post by amanda373 on Apr 9, 2018 11:53:52 GMT
I spoke to a member of Refresh on Thursday prior to their meeting with their Barrister and legal team and it was suggsted i call back today for an update. However person involved was on the phone and then “ off sick” should i be worried? Having lost funds through other fsiled schemes i am anxious as this is my only safety net and i had commited my interest monthiy to something which i now have to fund from pension! Feeling bit sick...
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
|
Post by ozboy on Apr 9, 2018 12:23:25 GMT
It's no consolation amanda373 but as is consistently said on here we just have to quietly sit it out and wait until the court case.
Easier said than done I know - I sympathise with all who are in very difficult situations because of this shambles.
|
|
|
|
Post by charliebrown on Apr 9, 2018 13:08:24 GMT
If they refuse to bring back the website then I don’t know my exact position with COL. I do know I had over 10k on the platform (not my biggest p2p) but I don’t know much beyond that. Since I always transfer to COL via my bank I can work out how much I transferred in, but can’t work out things like which loans I was in, which we’re drawn down and which were not and how much I had on my account such as interest paid to me.
Why on earth are they refusing to bring back the website. It’s outrageous. This is not being handled well at all, by anyone’s standards.
|
|
p2pmark
Member of DD Central
Posts: 218
Likes: 187
|
Post by p2pmark on Apr 9, 2018 13:11:55 GMT
If they refuse to bring back the website then I don’t know my exact position with COL. I do know I had over 10k on the platform (not my biggest p2p) but I don’t know much beyond that. Since I always transfer to COL via my bank I can work out how much I transferred in, but can’t work out things like which loans I was in, which we’re drawn down and which were not and how much I had on my account such as interest paid to me. Why on earth are they refusing to bring back the website. It’s outrageous. This is not being handled well at all, by anyone’s standards. The administrators are not allowed to do much at all right now, pending the court case. I see no reason why we won't all receive information about which loans we're in etc (whether through the website or by correspondence) in due course, but I doubt it's a priority in terms of timing.
|
|
guff
Posts: 730
Likes: 707
|
Post by guff on Apr 9, 2018 13:16:57 GMT
One... Hundred.... PAGES!... 
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
|
Post by ozboy on Apr 9, 2018 13:34:26 GMT
Have to completely agree. I can see no reason whatsoever for RR/The FCA/whoever to disallow transactions but at least allow Lenders to view their own records.
Doesn't make sense at all, if it's cost it can't be that much surely?
Utter shambles, already being handled badly and doesn't bode well.
At all.
|
|
|
|
Post by beepbeepimajeep on Apr 9, 2018 13:42:09 GMT
One... Hundred.... PAGES!... 
|
|
|
|
Post by beepbeepimajeep on Apr 9, 2018 14:06:39 GMT
|
|
ceejay
Posts: 975
Likes: 1,149
|
Post by ceejay on Apr 9, 2018 15:58:47 GMT
Have to completely agree. I can see no reason whatsoever for RR/The FCA/whoever to disallow transactions but at least allow Lenders to view their own records. Doesn't make sense at all, if it's cost it can't be that much surely? Utter shambles, already being handled badly and doesn't bode well. At all. That would be on the Managerial Principle of "Anything I don't understand must be easy" ?! It is quite likely that reworking the website to be reliably read-only is quite a bit more complex than you might expect. The cost wouldn't be trivial, and who would be authorised right now to make that expenditure? And how would it help the administrator (whoever that turns out to be) to do their job?
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
|
Post by ozboy on Apr 9, 2018 16:14:39 GMT
I remain to be convinced that making the website read only would be difficult and/or expensive.
|
|
adrianc
Member of DD Central
Posts: 10,026
Likes: 5,152
|
Post by adrianc on Apr 9, 2018 16:27:10 GMT
I remain to be convinced that making the website read only would be difficult and/or expensive. It's "can't", not "won't". And it's not a technical "can't", either.
FCA say no.
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
|
Post by ozboy on Apr 9, 2018 16:50:29 GMT
IF that's the case then it's a typically bad FCA decision IMHO.
A working read only website would alleviate a TON of enquiries.
|
|
mason
Member of DD Central
Posts: 666
Likes: 641
|
Post by mason on Apr 9, 2018 17:24:19 GMT
I remain to be convinced that making the website read only would be difficult and/or expensive. It wouldn't be difficult or expensive, but before doing so it will be necessary to make sure the information it contains is accurate - that means doing a full reconciliation on a loan by loan basis and establishing that the underlying loan contracts are legally valid. I'm really surprised this wasn't job 1 for RR, but from their recent communication with lenders, it's clear this work has still not been done.
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
|
Post by ozboy on Apr 9, 2018 20:20:04 GMT
"And how would it help the administrator (whoever that turns out to be) to do their job?" - as I have said, by reducing their workload from the number of enquiries they no doubt receive regarding Loan particulars, interest payments, balances, etc.
|
|
