Monetus
Member of DD Central
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Post by Monetus on Feb 28, 2018 22:50:58 GMT
Anyone think the platform itself is likely to come back online or will loans be handled manually?
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romy
Member of DD Central
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Post by romy on Feb 28, 2018 22:53:04 GMT
Congratulation to whoever the observant person was who spotted the FCA registration had disappeared from the footer.
Take a bow you win the prize!
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southport
Member of DD Central
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Post by southport on Feb 28, 2018 22:53:20 GMT
Well that could have been a lot worse in my opinion. It is FCA related, not fraud and sounds like loan book is safe, not sure about cash but no doubt more information will come out. I agree. Out off all the speculation over the last couple of days (of which I was a willing participant) this seems to be the lesser of a lot of potential evils.
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Post by beepbeepimajeep on Feb 28, 2018 22:54:55 GMT
so according to letter we just sit tight and get paid as the money is repaid? The question of loans where we have money that didn't get drawn down yet has to be answered and is one of the biggest. Also do we need to put a claim in for cash on the account? I mean presumably they have good records of that but seems to be up in the air if that is secured money or not. I hope we get access to our accounts so we can know exact figures and what is where precisely.
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Post by beepbeepimajeep on Feb 28, 2018 22:55:55 GMT
Totally agree with this.
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sildenafil
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Post by sildenafil on Feb 28, 2018 22:56:02 GMT
Could have been worse!!
Although what happens now to development loans like Bolton? No more investment allowed for the time being so does the development just stop? Other loans are not as worrisome
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jcb208
Member of DD Central
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Post by jcb208 on Feb 28, 2018 22:56:02 GMT
I'm gona have another drink now  hopefully I will get back the majority of my money,never invested in any of the lower ranking tranches which I think may prove probmatic |
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tombraider
Member of DD Central
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Post by tombraider on Feb 28, 2018 22:57:32 GMT
yes I have a £100 cash and 4k loans and the proving could be difficult as everything was online. so need the site back up ideally
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btc
Member of DD Central
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Post by btc on Feb 28, 2018 22:58:58 GMT
How do we find out our balance?
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p2pete
Member of DD Central
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Post by p2pete on Feb 28, 2018 22:59:06 GMT
When the Administrator says: "If you are a creditor of the Company owed more than £1,000, you will be required to submit a proof of the debt owed to you as at the date of my appointment before you can participate in the proceedings". Does this apply to us as lenders? Or as he says later in the letter, lenders just sit tight and do nothing for now?
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upland
Member of DD Central
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Post by upland on Feb 28, 2018 22:59:16 GMT
Why could they just not announce this a few days ago , why the drama ?
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sj
Member of DD Central
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Post by sj on Feb 28, 2018 22:59:19 GMT
Bloody hell. Operating under the assumption that you're FCA authorised when you're actually not seems like a bit of a rookie error.
Anyway...
Hopefully there will be some sort of functioning website in the next few weeks, because we'll all have tax figures to submit and we need to get those tax statements. What happens if we can't get the figures?
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dermot
Member of DD Central
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Post by dermot on Feb 28, 2018 22:59:30 GMT
Pleased that I had almost no uninvested funds on the platform, just a little bit of interest from renewed bling.
Now we wait to see if the interest run happens tomorrow, and if the various loans due to repay now actually do so.
I guess the most complex issue is going to be the completion of multi-tranch projects for which funding is not yet complete. Presumably other p2p platforms may pick up the slack.
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stokeloans
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Post by stokeloans on Feb 28, 2018 22:59:38 GMT
Could have been worse!! Although what happens now to development loans like Bolton? No more investment allowed for the time being so does the development just stop? Other loans are not as worrisome At a guess they'll have to find alternative finance,the other platforms will be falling over each other in the rush
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tombraider
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Post by tombraider on Feb 28, 2018 22:59:50 GMT
When the Administrator says: "If you are a creditor of the Company owed more than £1,000, you will be required to submit a proof of the debt owed to you as at the date of my appointment before you can participate in the proceedings". Does this apply to us as lenders? Or as he says later in the letter, lenders just sit tight and do nothing for now? thats how I'm reading it
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hopefully I will get back the majority of my money,never invested in any of the lower ranking tranches which I think may prove probmatic
