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Post by ablrate on Feb 7, 2020 16:41:27 GMT
And I bought it on Secondary Market so my loss is even higher. 50% of interest of ABL in last 2+ years. Its a shame that I had just started trusting a P2P platofrm and this happened. ABL must have tried their best but its just my bad luck (or DD) not sure. 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.
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brianlom1
Member of DD Central
He's not the Messiah, he's a very naughty boy!
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Post by brianlom1 on Feb 7, 2020 19:36:55 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. At least if the loan is declared as bad debt it should be possible to offset against interest earned on other loans for tax purposes (unless the investment was made via an IFISA or SIPP)
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Post by westcountry on Feb 26, 2020 15:45:42 GMT
Yes it does, on 97 & 104 as well Hence my eagerness to know when we can expect the next step We are awaiting the valuations. I would imagine we would expect those within the next couple of weeks, so we should be able to update in this time period. ablrate, it's now 20 days on from this post, and there hasn't been an update on 97/104/105 - have the valuations come in yet, please?
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number5
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Post by number5 on Feb 29, 2020 22:07:56 GMT
Yes it does, on 97 & 104 as well Hence my eagerness to know when we can expect the next step We are awaiting the valuations. I would imagine we would expect those within the next couple of weeks, so we should be able to update in this time period. Almost a month now...any update when this loan can be settled/taken of pause?
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number5
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Post by number5 on Mar 4, 2020 22:42:45 GMT
The latest update sounds just like the last one we had on here one month ago...?
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number5
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Post by number5 on Mar 26, 2020 14:54:17 GMT
ablrate any progress on this one please? Been almost a couple months now we been waiting for a valuation?
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number5
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Post by number5 on Apr 3, 2020 10:54:49 GMT
ablrate no regular update for this one or a covid-19 update? Can we have an update please?
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Post by ablrate on Apr 3, 2020 15:43:26 GMT
ablrate no regular update for this one or a covid-19 update? Can we have an update please? This is one of those we are awaiting some info on. Should have an update soon.
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Post by Ace on May 29, 2020 21:14:48 GMT
ablrate, my understanding is that there is no hope of any further recovery on loan #85. If this is the case, Why does the outstanding capital still feature in my Invested Funds total? Surely this should be shown as being written off as a loss. As things stand, my dashboard now shows a false position of my account.
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Post by ablrate on Jun 1, 2020 12:10:09 GMT
Yes, you are correct. We are working on removing written off loans but we want to make sure that there is nothing in the code that has an unintended consequence somewhere else.
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blender
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Post by blender on Jun 1, 2020 14:19:48 GMT
Presumably this was shown as a loss in the 2019-20 tax statements? I do not have it.
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des
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Post by des on Jun 1, 2020 14:26:48 GMT
Presumably this was shown as a loss in the 2019-20 tax statements? I do not have it. It is on mine Bad Debt Principle Defaulted and not recovered in period:£1,015.38 Recovery of Bad Debt:£0.00 Total:£1,015.38
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Post by waryinvestor on Jun 28, 2020 11:53:05 GMT
Any updates on Loan 1000105 ? It has been sying the same thing for months (venue is trading well). However, one can't place any bids/offers on this Loan ?
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withnell
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Post by withnell on Jun 29, 2020 7:44:05 GMT
Any updates on Loan 1000105 ? ... However, one can't place any bids/offers on this Loan ? Amortising loan that is missing a repayment (none yet this year) - so automatically can't be traded!
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blender
Member of DD Central
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Post by blender on Jun 29, 2020 8:37:11 GMT
Any updates on Loan 1000105 ? It has been sying the same thing for months (venue is trading well). However, one can't place any bids/offers on this Loan ? I am fairly sure that this group of loans have been covered by the regular video updates. The formal admin notes are pre-covid and the venues have clearly not been trading (by law) for the last three months. Maybe there will be an update about the plans to re-start trade and the prospects for sale, but I doubt there will be much to say on forthcoming repayments that lenders would wish to read.
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