agent69
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Post by agent69 on May 5, 2016 17:52:35 GMT
230 now suspended. Borrower has made 2 repayments out of 60, and suddenly realised that his cash flow is more suited to repaying on 21st of each month and not 3rd. Borrower has unilaterally decided this is ok and not made the payment due a couple of days ago.  |
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Post by bracknellboy on May 5, 2016 19:16:38 GMT
230 now suspended. Borrower has made 2 repayments out of 60, and suddenly realised that his cash flow is more suited to repaying on 21st of each month and not 3rd. Borrower has unilaterally decided this is ok and not made the payment due a couple of days ago. To be fair to the borrower, if you are referring to the same comms I saw today, AC stated that the borrower had made the request in advance, and that ACs response had 'not been communicated as well as it could have been'. I read into that - and not much reading into required - that AC is holding its hands up to say that it's comms to the borrower had at best been ambiguous. I took it as 'move on - nothing much happening here' (bar an AC internal wrap on the knuckles to someone).
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mikes1531
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Post by mikes1531 on May 5, 2016 20:04:11 GMT
230 now suspended. Borrower has made 2 repayments out of 60, and suddenly realised that his cash flow is more suited to repaying on 21st of each month and not 3rd. Borrower has unilaterally decided this is ok and not made the payment due a couple of days ago. To be fair to the borrower, if you are referring to the same comms I saw today, AC stated that the borrower had made the request in advance, and that ACs response had 'not been communicated as well as it could have been'. I read into that - and not much reading into required - that AC is holding its hands up to say that it's comms to the borrower had at best been ambiguous. I took it as 'move on - nothing much happening here' (bar an AC internal wrap on the knuckles to someone). My guess as to what happened is that the borrower said they'd like to be able to pay on the 21st, and AC probably suggested some accommodation could be made later, without pointing out that the loan agreement stated payments would be due on the same day of the month as the loan drew down. Since that timing is so unpredictable, the borrower wouldn't have known they had a problem until that happened -- at which point there was nothing that could have been done in the short term. Then again, the borrower could have solved the problem by setting aside on the 21st the money due on the 3rd of the coming month. They obviously didn't/couldn't and that suggests, of course, that the borrower's cash flow situation is so tight that they don't have even a single month's worth of working capital. Which makes me wonder if they'll be able to make 1.5 months' worth of payment on 21/May.  Does this suggest that AC don't do much/any stress testing before granting 9% loans?
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Post by Ton ⓉⓞⓃ on May 6, 2016 9:15:40 GMT
I'd have expected a "quick vote" or an "email us if you object to this change" and if there were a substantial objections it wouldn't have been okayed.
Anyone think this is a seasonal business?
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oldgrumpy
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Post by oldgrumpy on May 6, 2016 10:10:17 GMT
I'd have expected a "quick vote" or an "email us if you object to this change" and if there were a substantial objections it wouldn't have been okayed. Anyone think this is a seasonal business? I got one yesterday.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on May 10, 2016 16:02:43 GMT
#26 after a 2 month 'grace' period of no payments & silence has now been put on an informal weekly 'half pay' repayment plan to sort arrears.
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agent69
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Post by agent69 on May 11, 2016 18:15:06 GMT
230 now suspended. Borrower has made 2 repayments out of 60, and suddenly realised that his cash flow is more suited to repaying on 21st of each month and not 3rd. Borrower has unilaterally decided this is ok and not made the payment due a couple of days ago. ACs response had 'not been communicated as well as it could have been'. I see there's been another breakdown in communications. Update for 218 on 18th April says the installation hasn't been commissioned, update today says it was actually commissioned in March. Doesn't inspire confidence
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on May 16, 2016 19:38:39 GMT
#207 CSPC repaid Saturday - another successful recovery to add to the record.
Edit: though for some reason there seems to be £20 interest outstanding on the repayments tab?
#165 expected to repay this week
Anyone in Eppy might be alarmed by update on #171, (a result of lender duedil), though AC are relaxed
Lots of generation stats for all the K turbines.
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mikes1531
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Post by mikes1531 on May 16, 2016 21:04:02 GMT
#207 CSPC has repaid today - another successful recovery to add to the record. Edit: though for some reason there seems to be £20 interest outstanding on the repayments tab? #165 expected to repay this week Anyone in Eppy might be alarmed by update on #171, (a result of lender duedil), though AC are relaxed Lots of generation stats for all the K turbines. For anyone who's puzzled because they can't see a credit today on their statement for the repayment... My account received the repayment at 1007 on Saturday (the 14th). #165: When that one pays off there will be an awful lot of money looking for a new home! Will AC be able to retain it? Or will it emigrate? If it all was swept into the QAA, could the QAA cope with the inflow? Or will a cap on the QAA quickly reappear? #171: I sure hope that AC's position turns out to be right in the end. Turbines: If anyone has the time -- I'm afraid I don't -- to compare the actual output for the quarter to the projected output, I'm sure many here would like to know the results. I certainly would.
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Post by pepperpot on May 16, 2016 22:01:30 GMT
#171; if you suddenly discover you're walking on thin ice, it's best not to jump up and down. Especially if the shore is only a short walk away.  I think there's a contrast to Eppy, the borrowers intention is most likely quite different (cost saving?), imho just the suggestion of legal action would be enough for the borrower to, ...well, evict himself. |
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jonah
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Post by jonah on May 17, 2016 4:54:49 GMT
Turbines.... On the two I am in.... Slightly down and quite a bit down. Similar logic for both, being too high wind in Feb and maintenance activities/ issues with the old maintenance supplier. Statement about the parent company supporting.
Seems to be endemic as I dropped out of other turbines after missing power targets on previous quarters.
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duck
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Post by duck on May 17, 2016 4:57:37 GMT
..#165: When that one pays off there will be an awful lot of money looking for a new home! Will AC be able to retain it? Or will it emigrate? If it all was swept into the QAA, could the QAA cope with the inflow? Or will a cap on the QAA quickly reappear? ..... I suspect it will also have an adverse effect on GBBA returns for those that entered the GBBA early. 165 was one of the few available eligible loans and GBBA accounts bought up to their limits - my wife's account bought its max 20%. Whilst this % has been diluted slightly it still stands at 18.7%, which has not been helped by the account continuing to buy after the update has been posted.
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mikes1531
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Post by mikes1531 on May 17, 2016 14:26:20 GMT
..#165: When that one pays off there will be an awful lot of money looking for a new home! Will AC be able to retain it? Or will it emigrate? If it all was swept into the QAA, could the QAA cope with the inflow? Or will a cap on the QAA quickly reappear? ..... I suspect it will also have an adverse effect on GBBA returns for those that entered the GBBA early. 165 was one of the few available eligible loans and GBBA accounts bought up to their limits - my wife's account bought its max 20%. Whilst this % has been diluted slightly it still stands at 18.7%, which has not been helped by the account continuing to buy after the update has been posted. I think the GBBA may be just about the only one buying #165. I sold a chunk of it in the wee hours of today. A quarter of it went in one piece, and the rest went in over 700 bits of shrapnel, none as large as £1. Between the entries for the individual sales, and the corresponding entries when the proceeds were swept into the QAA, my statement grew by nearly 1500 lines -- 30 pages worth!
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duck
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Post by duck on May 17, 2016 16:47:54 GMT
Between the entries for the individual sales, and the corresponding entries when the proceeds were swept into the QAA, my statement grew by nearly 1500 lines -- 30 pages worth! I had a similar experience, my business spreadsheet gained 2094 lines and my personal account grew by a slightly lower amount 
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mikes1531
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Post by mikes1531 on May 17, 2016 22:18:32 GMT
Between the entries for the individual sales, and the corresponding entries when the proceeds were swept into the QAA, my statement grew by nearly 1500 lines -- 30 pages worth! I had a similar experience, my business spreadsheet gained 2094 lines and my personal account grew by a slightly lower amount Having sold a few more chunks of #165, my statement for today alone is more than 4500 lines!
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