hazellend
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Post by hazellend on Oct 23, 2018 6:03:02 GMT
Why is that? Most of my money tied up in the bling which is all accountable for. I cant see any reason why i wont get the majority of it back minus a few quid for expenses fees ( BDO dependant ) and the odd sandwich. well bling making 70% on average on other p2p sites...less another 20% for fees and sarnies....reckon on 50% and you may be ok. Bling is very hard to sell. Much riskier than property in general. I hope the bling has been reasonably valued. I don’t hold any bling after experience of trying to sell some and realising it is not worth anywhere near its “value”
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tommytaylor
P2P - The new wild west
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Post by tommytaylor on Oct 23, 2018 10:01:51 GMT
well bling making 70% on average on other p2p sites...less another 20% for fees and sarnies....reckon on 50% and you may be ok. Bling is very hard to sell. Much riskier than property in general. I hope the bling has been reasonably valued. I don’t hold any bling after experience of trying to sell some and realising it is not worth anywhere near its “value” Yes depends on valuation but the bling was highly popular when things where all good so hopefully people knew the valuations where near the mark I think 50% is way off the mark though.
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pom
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Post by pom on Oct 23, 2018 10:38:12 GMT
Bling is very hard to sell. Much riskier than property in general. I hope the bling has been reasonably valued. I don’t hold any bling after experience of trying to sell some and realising it is not worth anywhere near its “value” Yes depends on valuation but the bling was highly popular when things where all good so hopefully people knew the valuations where near the mark I think 50% is way off the mark though. Don't forget a lot of the popularity was due to the buyback agreements in place. Quite how enforceable those are now remains to be seen.
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elliotn
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Post by elliotn on Oct 23, 2018 10:48:12 GMT
well bling making 70% on average on other p2p sites...less another 20% for fees and sarnies....reckon on 50% and you may be ok. Bling is very hard to sell. Much riskier than property in general. I hope the bling has been reasonably valued. I don’t hold any bling after experience of trying to sell some and realising it is not worth anywhere near its “value” Don't tell unbolted that! Joking aside, I got full recoveries from all their auction sales
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Post by Butch Cassidy on Oct 29, 2018 13:57:48 GMT
BDO were appointed 27/4/18 & AIUI the legal minimum prescribed in law was a progress report every 6 months (whilst this is woefully inadequate a timescale for such a small job, that should have been largely completed within such a generous period) when are they LEGALLY obliged to let lender's know what is happening? I presume they can argue for a short period to prepare the report is reasonable, over & above the 6 month anniversary but it should still be imminent.
BDO's communication in general has been appalling & I'm only slightly reassured that the creditor committee is valiantly trying to oversee this ongoing farce but if they have actually made significant progress in recovery & perhaps are even ready to issue interim repayments to lenders then I will accept my pessimism is misplaced but until that becomes a reality I remain of the opinion that they are simply cynically milking the situation for their own benefit at the cost of lenders & creditors.
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applets
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Post by applets on Oct 29, 2018 21:51:39 GMT
BDO were appointed 27/4/18 & AIUI the legal minimum prescribed in law was a progress report every 6 months (whilst this is woefully inadequate a timescale for such a small job, that should have been largely completed within such a generous period) when are they LEGALLY obliged to let lender's know what is happening? I presume they can argue for a short period to prepare the report is reasonable, over & above the 6 month anniversary but it should still be imminent.
BDO's communication in general has been appalling & I'm only slightly reassured that the creditor committee is valiantly trying to oversee this ongoing farce but if they have actually made significant progress in recovery & perhaps are even ready to issue interim repayments to lenders then I will accept my pessimism is misplaced but until that becomes a reality I remain of the opinion that they are simply cynically milking the situation for their own benefit at the cost of lenders & creditors. I believe the report must be within one month of the six month anniversary.
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Oct 29, 2018 23:14:29 GMT
BDO were appointed 27/4/18 & AIUI the legal minimum prescribed in law was a progress report every 6 months (whilst this is woefully inadequate a timescale for such a small job, that should have been largely completed within such a generous period) when are they LEGALLY obliged to let lender's know what is happening? I presume they can argue for a short period to prepare the report is reasonable, over & above the 6 month anniversary but it should still be imminent.
BDO's communication in general has been appalling & I'm only slightly reassured that the creditor committee is valiantly trying to oversee this ongoing farce but if they have actually made significant progress in recovery & perhaps are even ready to issue interim repayments to lenders then I will accept my pessimism is misplaced but until that becomes a reality I remain of the opinion that they are simply cynically milking the situation for their own benefit at the cost of lenders & creditors. Again I remind you the court ordered the costs to be paid by the brothers not the lenders or creditors.
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Post by Butch Cassidy on Oct 30, 2018 5:37:38 GMT
BDO were appointed 27/4/18 & AIUI the legal minimum prescribed in law was a progress report every 6 months (whilst this is woefully inadequate a timescale for such a small job, that should have been largely completed within such a generous period) when are they LEGALLY obliged to let lender's know what is happening? I presume they can argue for a short period to prepare the report is reasonable, over & above the 6 month anniversary but it should still be imminent.
BDO's communication in general has been appalling & I'm only slightly reassured that the creditor committee is valiantly trying to oversee this ongoing farce but if they have actually made significant progress in recovery & perhaps are even ready to issue interim repayments to lenders then I will accept my pessimism is misplaced but until that becomes a reality I remain of the opinion that they are simply cynically milking the situation for their own benefit at the cost of lenders & creditors. Again I remind you the court ordered the costs to be paid by the brothers not the lenders or creditors. That's just BDO's invoiced costs but what about the opportunity cost of having millions tied up, presumably earning nothing by way of interest, for God knows how many months or years? I could certainly make better use of my funds couldn't you?
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adrianc
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Post by adrianc on Oct 30, 2018 8:35:22 GMT
...but what about the opportunity cost of having millions tied up, presumably earning nothing by way of interest, for God knows how many months or years? I could certainly make better use of my funds couldn't you? I admire your optimism if you genuinely think that's the biggest downside of this whole mess.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Oct 30, 2018 17:13:57 GMT
Again I remind you the court ordered the costs to be paid by the brothers not the lenders or creditors. That's just BDO's invoiced costs but what about the opportunity cost of having millions tied up, presumably earning nothing by way of interest, for God knows how many months or years? I could certainly make better use of my funds couldn't you? I could indeed I have mid 20Ks in this it would be nice to get it back with some of the contractual interest as soon as.
I also agree this is small potatoes in the big picture and should be settled quite quickly.
All loans should have paid back by now or borrowers refinanced to pay back. These loans should be distributed to the lenders there is no justification on holding on to the money as it belongs to us by contract
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averageguy
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Post by averageguy on Nov 12, 2018 15:55:03 GMT
Official update (the six monthly one) within the next two weeks?
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Post by slender on Nov 12, 2018 16:15:02 GMT
Official update (the six monthly one) within the next two weeks? Within one month of the six month anniversary of their appointment, so on - or by - the 27th November, to be compliant.
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averageguy
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Post by averageguy on Nov 12, 2018 19:41:12 GMT
Official update (the six monthly one) within the next two weeks? Within one month of the six month anniversary of their appointment, so on - or by - the 27th November, to be compliant. Dam one day out then
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stokeloans
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Post by stokeloans on Nov 13, 2018 12:18:13 GMT
So 7 months in and they haven't even been able to tell us if they've recovered the database.....what was the point of the Collateral page on their website then ?
I'm not holding out much hope for the return of any of my money,it will be swallowed up in fees
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tommytaylor
P2P - The new wild west
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Post by tommytaylor on Nov 13, 2018 12:49:55 GMT
So 7 months in and they haven't even been able to tell us if they've recovered the database.....what was the point of the Collateral page on their website then ? I'm not holding out much hope for the return of any of my money,it will be swallowed up in fees As has been said many times before the judge ordered the curry brothers to pay all fees and i am expecting the majority of my money back.
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