nw99
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Post by nw99 on Oct 21, 2019 18:17:53 GMT
Yes always able to buy something within a week at a good discount
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corto
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one-syllabistic
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Post by corto on Nov 27, 2019 9:23:10 GMT
These loans have been paused today.
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blender
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Post by blender on Nov 27, 2019 10:11:04 GMT
These loans have been paused today. Interesting - is there an admin note? Available loan 134 (the borrowers of these loans being subsidiaries) runs out of its extension tomorrow and the chances of getting the whole £2.5M for that project look slim. I wonder if there is a connection?
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tommo
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Post by tommo on Nov 27, 2019 10:15:36 GMT
These loans have been paused today. Interesting - is there an admin note? Available loan 134 (the borrowers of these loans being subsidiaries) runs out of its extension tomorrow and the chances of getting the whole £2.5M for that project look slim. I wonder if there is a connection?
They were all paused yesterday. Basically 105 didn't pay and Ablrate have a meeting this morning with them and decided to pause all linked loans until meeting concluded.
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Post by ladywhitenap on Nov 27, 2019 10:19:07 GMT
These loans have been paused today. Interesting - is there an admin note? Available loan 134 (the borrowers of these loans being subsidiaries) runs out of its extension tomorrow and the chances of getting the whole £2.5M for that project look slim. I wonder if there is a connection?
I had the admin note about 16.40 yesterday. Sent under 105 when in fact the trigger event seemed to be late payment on 104. There is supposed to be further comms with the company today and update to us following that. LW
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Post by ablrate on Nov 28, 2019 16:02:02 GMT
We had the meeting and are compiling an update when we receive confirmation of a couple of points.
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number5
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Post by number5 on Nov 28, 2019 17:01:31 GMT
We had the meeting and are compiling an update when we receive confirmation of a couple of points. Thanks...is there a time frame for this? Should we be concerned?
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number5
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Post by number5 on Nov 29, 2019 16:04:00 GMT
Looks like no news until Monday at the earliest
97 is also due on Monday...
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blender
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Post by blender on Nov 30, 2019 9:04:25 GMT
I would not hold your breath. It's a complicated business. Must remember to send ablrate a game of KerPlunk for Xmas .
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Monetus
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Post by Monetus on Dec 3, 2019 18:58:12 GMT
Email update received. Not great news.
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number5
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Post by number5 on Dec 3, 2019 19:14:19 GMT
Email update received. Not great news. Not good at all...on top of what I can't access on FS as it is! Any idea how long this may take?
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blender
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Post by blender on Dec 3, 2019 19:38:36 GMT
Not very surprising. If you lent on 131 and 134 to save 85, 97, 104 and 105 then you are not going to be very happy. 129 is connected to 67 and 68 in a much more transparent way.
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number5
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Post by number5 on Dec 3, 2019 20:06:01 GMT
Not very surprising. If you lent on 131 and 134 to save 85, 97, 104 and 105 then you are not going to be very happy. 129 is connected to 67 and 68 in a much more transparent way. I am in 104, 105 and 97. Hoping their inital assesment is not too far off, although my biggest holding is in 104! They have mentioned surplus returns, so hopefully won't be that bad
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blender
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Post by blender on Dec 4, 2019 16:17:38 GMT
Loans 97, 104, and 105, have the additional security of a personal guarantee from the original sole owner/director, a Mr D M-J, whose net worth was said to be over £1M. Nothing has been said about this guarantor by Ablrate recently - but presumably he will be good for any shortfall?
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sj
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Post by sj on Dec 4, 2019 17:41:05 GMT
If I have learnt one thing from P2P, it's that personal guarantees are anything but. The borrowers always seem to wriggle their slimy way out of them by giving their assets to their family etc and declaring bankruptcy, then starting up all over again. Should be made against the law.
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