The members of the P2P Underground invested significant sums in Collateral UK, no doubt incentivised by preferential rates in common with other syndicates, institution investors and other "professionals". Of course, the emphasis on DD leads them to believe that full reconstruction of the database and distribution on a loan by loan basis is in their best financial interests and have pushed hard for this via direct communication with BDO (do they reply to your emails?), seats on the CC and it would surprise me not if there were other techniques in play. The consequence of a loan by loan distribution are vastly increased costs (how long is it taking to reconstruct and interrogate the database), and delays to any actual distribution (should there be any because we must remember that nothing is guaranteed).
It's a sad tale that continues to divide the lender base and no doubt will continue to for many years to come.
I'm still undecided about whether this is beautifully-wrought satire on the conspiracy theories, or if there really is such a super-elite clique...
No-one is ever going to help us, there’s strength in numbers, and the Government and/or The FCA aren’t going to do much either for us Lenders - DO something or continue to be turned over.
So, whatever your Complaint is about I suggest we all consider to start logging Complaints en masse – raise visibility on the myriad issues.
If it is about a Platform then your first Complaint must always be to The Platform. That is key, all Complaints to Other Bodies are usually met with “Have you Complained to The Platform?”
You must of course keep your Complaint/s factual. Not an exhaustive List, but for starters consider Complaints to:-
The FCA www.fca.org.uk/ Financial Regulators Complaints Commissioner – for Complaints about The FCA, but only after you have Complained to The FCA themselves (!) and if your FCA response is unsatisfactory. frccommissioner.org.uk/