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Post by Badly Drawn Stickman on May 4, 2021 15:31:11 GMT
Existing loans covers all outstanding loans whatever their status. You cant view any historically completed loans. (anything before ASMX) You can view current loans status on ASMX. There are no defaulted loans, which is clearly nonsense but for some reason Abl doesnt use the classification, nor delinquent, so you will have to decide for yourself from amongst the paused loans. Completed loans are classed as matured. I assume Abl complies with FCA COBS & default status regulations! You can view completed loans by clicking the loan number in this list p2pindependentforum.com/post/240960. You'll need to be logged in first. Indeed you can. A somewhat telling activity that the best way to access loan details on a platform is from a forum. I'm sure the shiny new 'Shop window' will make life much easier for investors going forward. If not I am sure there will be endless amusement in talking about the dummies in the shop window.
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littleoldlady
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Post by littleoldlady on May 4, 2021 17:17:39 GMT
Where can you view defaulted / late / unrecovered / recovered / completed loans ?
I assume these loans and similar ones are not listed under the EXISTING LOANS tab.
Existing loans covers all outstanding loans whatever their status. You cant view any historically completed loans. (anything before ASMX) You can view current loans status on ASMX. There are no defaulted loans, which is clearly nonsense but for some reason Abl doesnt use the classification, nor delinquent, so you will have to decide for yourself from amongst the paused loans. Completed loans are classed as matured. I assume Abl complies with FCA COBS & default status regulations! So nearly half (well 43%) of all current loans are non-performing and paused. I am frankly amazed at the casual attitude of investors to this sorry state of affairs. Edit: Actually 33% as explained here p2pindependentforum.com/thread/18443/counting-loans-abl
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Post by Ace on May 4, 2021 18:11:43 GMT
Existing loans covers all outstanding loans whatever their status. You cant view any historically completed loans. (anything before ASMX) You can view current loans status on ASMX. There are no defaulted loans, which is clearly nonsense but for some reason Abl doesnt use the classification, nor delinquent, so you will have to decide for yourself from amongst the paused loans. Completed loans are classed as matured. I assume Abl complies with FCA COBS & default status regulations! So nearly half (well 43%) of all current loans are non-performing and paused. I am frankly amazed at the casual attitude of investors to this sorry state of affairs. I think it's 33.9%. 39 tradeable and 20 paused.
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ilmoro
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Post by ilmoro on May 4, 2021 18:24:46 GMT
So nearly half (well 43%) of all current loans are non-performing and paused. I am frankly amazed at the casual attitude of investors to this sorry state of affairs. I think it's 33.9%. 39 tradeable and 20 paused. Which given there are only 68 loans available is either an impressive piece of mathematical error by ASMX or one of the loans has a dual personality (Pretty sure its only 38 tradeable and ASMX cant count) Figures are actually slightly better as two are paused purely as they are amortising loans awaiting imminent redemption
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Post by Ace on May 4, 2021 18:28:22 GMT
I think it's 33.9%. 39 tradeable and 20 paused. Which given there are only 68 loans available is either an impressive piece of mathematical error by ASMX or one of the loans has a dual personality (Pretty sure its only 38 tradeable and ASMX cant count) Figures are actually slightly better as two (maybe 3) are paused purely as they are amortising loans awaiting imminent redemption 9 matured. 39 + 20 + 9 = 68.
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ilmoro
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Post by ilmoro on May 4, 2021 18:44:12 GMT
Which given there are only 68 loans available is either an impressive piece of mathematical error by ASMX or one of the loans has a dual personality (Pretty sure its only 38 tradeable and ASMX cant count) Figures are actually slightly better as two (maybe 3) are paused purely as they are amortising loans awaiting imminent redemption 9 matured. 39 + 20 + 9 = 68. Ah yes, didnt include the matured as they arent available. Rookie mistake (should have actually done the maths rather than just added 0 to 9) So 9 of the loans have dual personality having available unavailability
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littleoldlady
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Post by littleoldlady on May 4, 2021 21:49:13 GMT
So nearly half (well 43%) of all current loans are non-performing and paused. I am frankly amazed at the casual attitude of investors to this sorry state of affairs. I think it's 33.9%. 39 tradeable and 20 paused. I stand corrected. I just counted the number not tradable. Even so doesn't 33% non performing alarm anyone?
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blender
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Post by blender on May 4, 2021 22:08:21 GMT
Where can you view defaulted / late / unrecovered / recovered / completed loans ?
I assume these loans and similar ones are not listed under the EXISTING LOANS tab.
Existing loans covers all outstanding loans whatever their status. You cant view any historically completed loans. (anything before ASMX) You can view current loans status on ASMX. There are no defaulted loans, which is clearly nonsense but for some reason Abl doesnt use the classification, nor delinquent, so you will have to decide for yourself from amongst the paused loans. Completed loans are classed as matured. I assume Abl complies with FCA COBS & default status regulations! I think they do use the classification. 21 was defaulted and recovered 28 & 32 are defaulted and unrecovered, but are neither 'existing' nor on ASMX 85 was declared a capital loss and must therefore be defaulted, but is neither 'existing' nor on ASMX 116 is defaulted and unrecovered but is neither 'existing' nor on ASMX 33 is in the process of being defaulted, and may have been. Presumably lenders are told they can claim a capital loss when this happens - not something I have experienced. 33 looks like it might fall off the end of the 'existing' and ASMX lists. I imagine the new shop window as a pet shop. You would not want the expired Norwegian Blue's to be left on the floor. There are plenty which appear to be nailed to perches. Plus some nice young puppies to choose from.
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ilmoro
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Post by ilmoro on May 4, 2021 22:24:35 GMT
Existing loans covers all outstanding loans whatever their status. You cant view any historically completed loans. (anything before ASMX) You can view current loans status on ASMX. There are no defaulted loans, which is clearly nonsense but for some reason Abl doesnt use the classification, nor delinquent, so you will have to decide for yourself from amongst the paused loans. Completed loans are classed as matured. I assume Abl complies with FCA COBS & default status regulations! I think they do use the classification. 21 was defaulted and recovered 28 & 32 are defaulted and unrecovered, but are neither 'existing' nor on ASMX 85 was declared a capital loss and must therefore be defaulted, but is neither 'existing' nor on ASMX 116 is defaulted and unrecovered but is neither 'existing' nor on ASMX 33 is in the process of being defaulted, and may have been. Presumably lenders are told they can claim a capital loss when this happens - not something I have experienced. 33 looks like it might fall off the end of the 'existing' and ASMX lists. I imagine the new shop window as a pet shop. You would not want the expired Norwegian Blue's to be left on the floor. There are plenty which appear to be nailed to perches. Plus some nice young puppies to choose from. My point was that there are no loans defined as defaulted or delinquent on ASMX. The FCA mandated definition of a defaulted loan is 90 days overdue for non-property or 180 days overdue for property. There are multiple loans on the platform that meet those criteria. Draw your own conclusions.
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blender
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Post by blender on May 4, 2021 22:48:58 GMT
There are some fine distinctions here. Firstly ASMX is not an Ablrate platform but a third party trading facility, and I think we might have to revert to the Ablrate platform to judge compliance with FCA. Secondly 'Existing loans covers all outstanding loans whatever their status' , presumably on the Ablrate platform, is not accurate because a number of outstanding defaulted loans are not included as existing. And lastly, do FCA mandate lenders to formally default loans after 90 days or 120 days? I doubt that would always be in the best interest of lenders. Or do they have to be considered or counted in statistics as 'in default', which is not the same as being defaulted? Sure I agree that a good few loans are in default. And many more have been restructured out of default. Many problems have been caused or aggravated by the effects of the viral unpleasantness, but personally I stay away from pubs and cars, neither drink nor drive.
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Post by davie on May 6, 2021 10:03:42 GMT
Have you tried direct communication, via E mail or phone? ablrate is this best? no i have not tried to communicate directly however i would hope that there would be general updates - even if its a "we have done X and waiting on Y"
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Post by feedme on May 26, 2021 23:02:18 GMT
A further update on this loan would be greatly appreciated. Thanks We have this week been speaking with lawyers and administrators, so should have an update to lenders next week. Hiya ablrate, sorry to bug you but I'm still waiting patiently for an update, anything is better than nothing
I like a number of others have a lot of cash tied up in this loan and from the outset the prognosis seemed quite positive. Something was said along the lines of there being adequate security for full recovery of capital and interest. I do hope this is still the outlook, despite the delay.
We had six updates throughout 2020, and here we are nearly half way through 2021 with just the one in January. Surely there's something more to add?
Thank you.
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Nomad
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Post by Nomad on May 27, 2021 8:12:26 GMT
We have this week been speaking with lawyers and administrators, so should have an update to lenders next week. Hiya ablrate, sorry to bug you but I'm still waiting patiently for an update, anything is better than nothing
I like a number of others have a lot of cash tied up in this loan and from the outset the prognosis seemed quite positive. Something was said along the lines of there being adequate security for full recovery of capital and interest. I do hope this is still the outlook, despite the delay.
We had six updates throughout 2020, and here we are nearly half way through 2021 with just the one in January. Surely there's something more to add?
Thank you.
I have just written again to Emma at ablrate along the same lines. I have no intention to include any further Ablrate loans in my extensive p2p portfolio.
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Nomad
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Post by Nomad on Jun 21, 2021 8:18:33 GMT
A further update on this loan would be greatly appreciated. Thanks We have this week been speaking with lawyers and administrators, so should have an update to lenders next week. You said much the same thing on May 27 (after much prodding for an update) and it's now June 21
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travolta
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Post by travolta on Jul 15, 2021 19:27:46 GMT
Seems like a long, long time since we heard anything .
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