corto
Member of DD Central
one-syllabistic
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Post by corto on Apr 28, 2019 9:53:15 GMT
The God of Litigation, or the devil's advocate?
As any lawyer knows, the devil is in the detail.
It would honor some people above their achievements to put them any close to either the gods or the devil.
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orvilorvil
Member of DD Central
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Post by orvilorvil on Apr 28, 2019 13:13:41 GMT
Correct me if I wrong please.....
Whilst the T&Cs might be disputed, in the unlikely event the borrower sees this through and wins the case, the court would surely rule that he has to repay the original loan back less the interest, rather than keeping the loaned amount and getting his possessions back?
So the only thing that would actually be disputed is the interest (+ court costs)?
Does that sound about right?
For what it’s worth, I’m continuing to lend via Unbolted...
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Apr 28, 2019 14:12:44 GMT
Correct me if I wrong please..... Whilst the T&Cs might be disputed, in the unlikely event the borrower sees this through and wins the case, the court would surely rule that he has to repay the original loan back less the interest, rather than keeping the loaned amount and getting his possessions back? So the only thing that would actually be disputed is the interest (+ court costs)? Does that sound about right? For what it’s worth, I’m continuing to lend via Unbolted... But then I think he is also claiming damages on top.
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peteuk
Member of DD Central
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Post by peteuk on Apr 28, 2019 15:21:34 GMT
Does anybody think a judge after due consideration would not see this as a stalling tactic , which they do take a dim view of, as to cshing out of unbolted I'm concerned since the ifisa, I'm being paid back faster than i can invest
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Post by sannytwist on Apr 30, 2019 21:54:27 GMT
Think it might not be a bad idea cashing out when you only get 2 x loans since start of the week for £5 each.
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Post by elephantrosie on May 8, 2019 5:10:37 GMT
what do you mean by 2 x 5 pounds each
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Post by banffy on May 8, 2019 5:22:05 GMT
He means that he has only managed to invest £10 and it is in £5 chunks not sure if that was for one day or during the whole week meaning nothing much going on that week.
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Post by df on May 9, 2019 13:14:16 GMT
He means that he has only managed to invest £10 and it is in £5 chunks not sure if that was for one day or during the whole week meaning nothing much going on that week. It goes up and down, but I can't recall a single week when overall investment was as low as £10, even over Christmas/NY period. I guess it can be that low if you don't have any float cash on your account.
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sd2
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Post by sd2 on May 20, 2019 9:34:55 GMT
He still has 10 active loans but all are overdue? So unbolted haven't defaulted them. When he looses the court case (obviously not garunteed) then the items will be sold. Some will need to go to auction, a long wait for our money and the interest will have mounted. Most of the LTV are not extreme but as each is sold on an individual contract he may actually end up getting money back if the item sells for more than whats owed. while we may end up loosing interest on items that sell for less than LTV plus interest?
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IFISAcava
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Post by IFISAcava on May 20, 2019 10:39:12 GMT
He still has 10 active loans but all are overdue? So unbolted haven't defaulted them. When he looses the court case (obviously not garunteed) then the items will be sold. Some will need to go to auction, a long wait for our money and the interest will have mounted. Most of the LTV are not extreme but as each is sold on an individual contract he may actually end up getting money back if the item sells for more than whats owed. while we may end up loosing interest on items that sell for less than LTV plus interest? One would hope that if the legal case is won by UB then legitimate costs would include the additional interest that bringing the litigation incurred.
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sd2
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Post by sd2 on May 21, 2019 10:39:50 GMT
Hopefully. Via excess auction funds? The court can't really add them on as UB is already doing that. Its not until goods are sold that you would know if he's still owes.
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Mousey
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Post by Mousey on May 21, 2019 14:23:45 GMT
The Rolls Buildings, Hearing Room 2
Before DEPUTY MASTER A*****
On behalf of CHIEF MASTER M****
Wednesday 22 May 2019
At 02:00 PM
Application Hearing
FS-2019-****** A***** M**** v Open Acess Finance Limited
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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.
Posts: 2,011
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Post by Godanubis on May 21, 2019 18:13:46 GMT
With Lendy also being sued it is intresting and perhaps a little appreensive time.
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sarahcount
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Post by sarahcount on May 21, 2019 19:35:07 GMT
With Lendy also being sued it is intresting and perhaps a little appreensive time. I think you'll find that Lendy are not being sued any longer and the always frivolous and vexatious case against them has been dismissed. But yes they are not the only platform spending time in court as you'll be well aware one of your favourites is trying to recover payment from a recalcitrant borrower before he gets carted off by the Feds. What many of us probably didn't fully take into consideration before entering this game is quite how desperate and imaginative borrowers can be to find mechanisms to extract themselves from their liabilities.
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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.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on May 21, 2019 20:53:53 GMT
With Lendy also being sued it is intresting and perhaps a little appreensive time. I think you'll find that Lendy are not being sued any longer and the always frivolous and vexatious case against them has been dismissed. But yes they are not the only platform spending time in court as you'll be well aware one of your favourites is trying to recover payment from a recalcitrant borrower before he gets carted off by the Feds. What many of us probably didn't fully take into consideration before entering this game is quite how desperate and imaginative borrowers can be to find mechanisms to extract themselves from their liabilities. It's a big bad world trust nobody  
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