number5
Member of DD Central
Posts: 449
Likes: 98
|
Post by number5 on Feb 6, 2020 13:23:14 GMT
Meeting was 2 weeks ago now... There will an update in the next couple of days. The results of that meeting has some action points to fulfill and we have followed up on those. Thanks for the update What is the expected date or timeframe we should expect valuations/proposed next steps?
|
|
johnfleet
Member of DD Central
Posts: 170
Likes: 85
|
Post by johnfleet on Feb 6, 2020 16:09:11 GMT
update on 105 sent earlier this afternoon - sounds quite encouraging?
|
|
number5
Member of DD Central
Posts: 449
Likes: 98
|
Post by number5 on Feb 6, 2020 16:50:46 GMT
update on 105 sent earlier this afternoon - sounds quite encouraging? Yes it does, on 97 & 104 as well Hence my eagerness to know when we can expect the next step
|
|
|
Post by ablrate on Feb 6, 2020 16:54:18 GMT
update on 105 sent earlier this afternoon - sounds quite encouraging? 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.
|
|
|
Post by stevem on Feb 6, 2020 18:10:04 GMT
See documents
|
|
|
Post by muttley916 on Feb 6, 2020 18:17:24 GMT
A rough 10% approx returned on a loan with a 76.9% loan to value. Not that impressive a recovery percentage
|
|
|
Post by Ace on Feb 6, 2020 18:29:09 GMT
A loss of 6 weeks worth of total platform interest for me.
I'm sure ABLrate did their best. Can't expect to win them all at these rates.
|
|
number5
Member of DD Central
Posts: 449
Likes: 98
|
Post by number5 on Feb 6, 2020 19:27:36 GMT
A loss of 6 weeks worth of total platform interest for me. I'm sure ABLrate did their best. Can't expect to win them all at these rates. What was/is the situation to 85? Is it linked to 97/104/105 Sorry, I can't seem to find the loan. Is that a only 10% recovery of loan value?
|
|
|
Post by Ace on Feb 6, 2020 19:31:12 GMT
A loss of 6 weeks worth of total platform interest for me. I'm sure ABLrate did their best. Can't expect to win them all at these rates. What was/is the situation to 85? Is it linked to 97/104/105 Sorry, I can't seem to find the loan. Is that a only 10% recovery of loan value? I found it in my "Current Investments" list, highlighted in orange. Yes, roughly a 10% recovery of what was remaining.
|
|
brianlom1
Member of DD Central
He's not the Messiah, he's a very naughty boy!
Posts: 384
Likes: 386
|
Post by brianlom1 on Feb 6, 2020 19:34:02 GMT
A loss of 6 weeks worth of total platform interest for me. I'm sure ABLrate did their best. Can't expect to win them all at these rates. What was/is the situation to 85? Is it linked to 97/104/105 Sorry, I can't seem to find the loan. Is that a only 10% recovery of loan value? You can find the loan under p2pindependentforum.com/thread/11434/ablrate-loan-book but I, like yourself am mystified as to what this payment represents (has interest been written off or just deferred?)
|
|
|
Post by Ace on Feb 6, 2020 19:38:15 GMT
What was/is the situation to 85? Is it linked to 97/104/105 Sorry, I can't seem to find the loan. Is that a only 10% recovery of loan value? You can find the loan under p2pindependentforum.com/thread/11434/ablrate-loan-book but I, like yourself am mystified as to what this payment represents (has interest been written off or just deferred?) See full explanation in the latest document in the loan. It's a dodo.
|
|
iren
Member of DD Central
Posts: 302
Likes: 300
|
Post by iren on Feb 6, 2020 19:44:31 GMT
What was/is the situation to 85? Is it linked to 97/104/105 Sorry, I can't seem to find the loan. Is that a only 10% recovery of loan value? You can find the loan under p2pindependentforum.com/thread/11434/ablrate-loan-book but I, like yourself am mystified as to what this payment represents (has interest been written off or just deferred?) The company’s dead, it’s assets have been sold off, and that’s it for the recovery. In a recovery situation, proceeds are always credited to capital. Interest is only paid if there are funds over after all capital has been paid, which isn’t going to happen in this case.
|
|
tommo
Member of DD Central
Posts: 70
Likes: 97
|
Post by tommo on Feb 6, 2020 19:47:19 GMT
I only realised what had happened to 85 from this forum.
I am invested in 85 (tiny, tiny amount) and had no idea the payment today was final. No notifications or emails. I searched for 85 in the secondary market and did not find it there (for reasons that are obvious to me now).
Feel Ablrate need to better communicate this with lenders. I realise the details are in the documents section of the loan, but nothing (except this forum) would have made me look there. Even the notification for the capital payment makes no reference to this being the proceeds from sale.
There is no 'defaults' section on the site, so a lack of transparency for current and potential lenders. Maybe the data is published somewhere on the site, but i cant seem to find it.
|
|
sj
Member of DD Central
Posts: 229
Likes: 330
|
Post by sj on Feb 6, 2020 19:54:53 GMT
B@ll@cks. This is a very poor state of affairs! AND I bet the borrower is "bankrupt" and there's no way to chase anybody for any more payment? Any comments ABL?
|
|
|
Post by muttley916 on Feb 6, 2020 20:14:44 GMT
45k received from the sale, with an outstanding amount of 328k roughly works out at 14% to be returned according to the document.
|
|