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Post by banffy on Mar 31, 2019 11:28:29 GMT
I have 60 loans that are overdue is this normal? And is there anything to be concerned about since they are all covered by PF/Assets. Should Unbolted be keeping a firmer grip on these outstanding loans and defaulting them sooner to get repayment?
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archie
Posts: 1,838
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Post by archie on Mar 31, 2019 12:30:13 GMT
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Post by banffy on Mar 31, 2019 13:02:06 GMT
Some loans overdue since Sept/Oct etc should they not have been defaulted earlier?
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kaya
Member of DD Central
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Post by kaya on Apr 1, 2019 7:35:49 GMT
I always wondered why it was called Unbolted. Starting to figure it out now.
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Post by elephantrosie on Apr 15, 2019 19:47:53 GMT
cashing out too.
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sd2
Member of DD Central
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Post by sd2 on Apr 16, 2019 11:14:46 GMT
I will go back in if unbolted win the court case. If they don't then every one who has been defaulted could be claiming back? The interest? The value of the pawned item? Who knows
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IFISAcava
Member of DD Central
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Post by IFISAcava on Apr 23, 2019 14:00:19 GMT
Looks like the Lendy London Loan virus has spread to Unbolted. The litigant has asked for names and contact details of all individual lenders.
If this tactic becomes widespread, P2P could be in big trouble.
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keystone
Member of DD Central
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Post by keystone on Apr 23, 2019 14:07:26 GMT
Yep, lenders did not sign up for this b*******, what is the point of p2p if borrowers are going to try to go after individuals.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Apr 23, 2019 14:07:39 GMT
Looks like the Lendy London Loan virus has spread to Unbolted. The litigant has asked for names and contact details of all individual lenders. If this tactic becomes widespread, P2P could be in big trouble. Someone probably close to the borrower, posted a first post on Frank, that could almost have been quoted from the London Loan debacle and designed to worry lenders. Maybe they haven't found this forum yet?
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invester
P2P Blogger
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Post by invester on Apr 23, 2019 14:14:08 GMT
I would think at this point, the platforms should band together in some way.
Overly litigious borrowers are a bit of a threat to the whole sector.
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sjg
Member of DD Central
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Post by sjg on Apr 23, 2019 14:17:49 GMT
Looks like the Lendy London Loan virus has spread to Unbolted. The litigant has asked for names and contact details of all individual lenders. If this tactic becomes widespread, P2P could be in big trouble. I'm assuming they will have as much success as the Lendy case as well. Hopefully in my case anyway as I didn't have anything in the Lendy loan but have £5+ in most of his loans. It's certainly a headache that people don't need though. Also what would it mean for other pawn brokers? If this was to go through and win (which I doubt very much ). The whole pawn business would collapse.
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IFISAcava
Member of DD Central
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Post by IFISAcava on Apr 23, 2019 14:18:31 GMT
I would think at this point, the platforms should band together in some way. Overly litigious borrowers are a bit of a threat to the whole sector. Indeed. As it is, my "maintain balance but don't increase investment" approach on UB is now a "draw down until this is over". I wonder if UB's T&Cs aren't as watertight as other platforms.
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sarahcount
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Post by sarahcount on Apr 23, 2019 14:19:12 GMT
seeking disclosure of the names and contact details of all the individual lenders to him >>>> Don't tell him Pike!
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r00lish67
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Post by r00lish67 on Apr 23, 2019 14:39:42 GMT
I would think at this point, the platforms should band together in some way. Overly litigious borrowers are a bit of a threat to the whole sector. I think it's really one that the FCA should be sorting out, as competing platforms can't really be expected to standardise sufficiently or pool risk in this way. There's obviously no way that retail investors should be at any risk of being sued for putting fifty bob (or fifty thousand, indeed) into a P2P loan. We don't even have visibility of loan contracts most of the time, it's clearly ludicrous. I'm sure the FCA will be right on it, being the proactive organisation that they are
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sj
Member of DD Central
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Post by sj on Apr 23, 2019 15:03:34 GMT
Stupid course of action from the borrower, he'll be laughing on the other side of his face when it falls apart for him and he has to pay his bills.
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