Post by ablrate on Feb 7, 2020 16:41:27 GMT
You and me both, pj. I greedily bought in heavily at discount on the back of the positive resolution rhetoric posted in admin notes at the time. I should have learned my lesson from making the same mistake with Lendy DFL004! This is a painful loss.
There were significant unforeseen circumstances which led to such a poor return and, whilst I'm absolutely gutted, I trust Ablrate fully explored all options.
One thing of note, Ablrate is usually very good at communicating but I received no email alerting me to the outcome of this loan other than the standard 'Payment Made' communication. Lenders not using their initiative to delve further may still be in the dark as to their situation.
ablrate Can you confirm that the amount listed in "Your Investment" for this loan is the amount of capital outstanding after the settlement payment? You mention "There are other matters wthin the business that we are looking at"; I understand there are no guarantees behind this statement, but are you able to give a gut feeling as to the likelihood, scale and timeline of any further repayment (eg. slim chance of minor payment, concluded within 6 months)?
Additionally, at present the capital loss outstanding is shown positively in my "Total funds in this account", are there plans within the new UI to make clear the amount of funds deemed unredeemable? My preference would be for the loss on such loans to be removed from my top line total funds figure, as clearly I am no longer in possession of such funds.
Ref the notification- apologies, we will take a look at that, one should have been triggered.
The other matters let us have a look at those and see what happened... they should be accuratley reflected.
Ref your point were are looking at the situation from a legal perspective. very ong shot, but we are looking at all options.