mrsb
Posts: 196
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Post by mrsb on Apr 13, 2020 11:44:55 GMT
"we get one daily withdrawal per access account request"
Yep, that's correct. I've currently got six access accounts in the pool and awaiting the time when the trickle becomes a stream.
Forgive me - but can you clarify. Are there individual AC investors receiving more than 1x the dribble? (Because they have money in more than 1 of the accounts?)
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Post by Harland Kearney on Apr 13, 2020 12:29:17 GMT
Looks like we could be approaching a milestone in terms of how repayments are heading:
- 986 due to repay tomorrow
- 590 due to repay on Wednesday
Both in exces of £4m, but don't hold your breath
My loan update menu is still odd, are these just due for repayment or has AC confirmed they recieved funds? Edit, according to 986 April 1st update, a ongoing event is already going on with this loan, repayment looks 6 weeks away. Next update end of the month. The repayment due date is not accurate to this loan.
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cb25
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Post by cb25 on Apr 13, 2020 12:49:20 GMT
Looks like we could be approaching a milestone in terms of how repayments are heading:
- 986 due to repay tomorrow
- 590 due to repay on Wednesday
Both in exces of £4m, but don't hold your breath
My loan update menu is still odd, are these just due for repayment or has AC confirmed they recieved funds? Edit , according to 986 April 1st update, a ongoing event is already going on with this loan, repayment looks 6 weeks away. Next update end of the month. The repayment due date is not accurate to this loan. Yes, just due for repayment. When AC have received funds they tend to say so in a Lender Update
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ilmoro
Member of DD Central
'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 Apr 13, 2020 12:56:21 GMT
I suspect windmills are likely to be a more useful source of data based on last update … £6m expected this week and probably an area not going to be overly impacted by CV19 on lending considerations.
So one might want to grab the nominal access account holdings for later calcs
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mrsb
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Post by mrsb on Apr 13, 2020 12:58:45 GMT
Forgive me - but can you clarify. Are there individual AC investors receiving more than 1x the dribble? (Because they have money in more than 1 of the accounts?) Yes, e.g. I get 4 payments as I have money past its withdrawal dates in QAA, 30DAA, 90DAA and IFISA 90DAA Humm - How does this fair on the "fairness" scale with the sanctimonious and pious amongst us?
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mrsb
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Post by mrsb on Apr 13, 2020 13:11:24 GMT
Humm - How does this fair on the "fairness" scale with the sanctimonious and pious amongst us? I don't know (or much care), but will say that most of my requests for my 30DAA/90DAA money to be moved to my cash account was made month(s) ahead of any requests for QAA money to be moved to cash. Indeed - but the arguments used (on these threads) against 'proportional-ness" would surely apply equally to individual investors getting multi-dribbles - but no one seems to be yelling about the latter. I'm sure you'd care more if your situation was not as it is. Mind you, 10x the dribble ain't much use.
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cb25
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Post by cb25 on Apr 13, 2020 13:22:40 GMT
I don't know (or much care), but will say that most of my requests for my 30DAA/90DAA money to be moved to my cash account was made month(s) ahead of any requests for QAA money to be moved to cash. Indeed - but the arguments used (on these threads) against 'proportional-ness" would surely apply equally to individual investors getting multi-dribbles - but no one seems to be yelling about the latter. I'm sure you'd care more if your situation was not as it is. Mind you, 10x the dribble ain't much use. A little possibly, but -with the exception of some £240-ish repayments, 4xdribble isn't much better than 1xdribble and my MLA repayments dwarf the small AA dribbles
-I'm not insisting AC honour my 30DAA/90DAA withdrawals which were in the queue far before others' QAA withdrawal requests -I'm probably a large investor by investment size, but I haven't complained about the withdrawal system favouring the smaller investor (which it does)
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agent69
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Post by agent69 on Apr 14, 2020 19:30:41 GMT
Following 3 days of zilch I have received £2.42 today.
Given the fall off of repayments over the last 2 weeks I wonder if AC emptied the coffers to pay the March interest.
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jcb208
Member of DD Central
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Post by jcb208 on Apr 15, 2020 5:10:33 GMT
Repayments seem to have basically stopped for me as well apart from a few pound each day. Surely this can't carry on like this ,it will take years to clear queued withdrawals
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Post by oppsididitagain on Apr 15, 2020 7:16:19 GMT
Loan #406 repaid £288K today, spotted by amwinv .
agent69 My access accounts got a repayment of £2.59 as well as the £2.42 (admittedly still only a fiver) I noticed that, and had over £150 in my cash account, then realised I had invested £150 direct to #406 via MLIA and £2.42 came via the QAA Is there a report that can be generated to show how much ,when a loan is repaid, how the % is split between MLIA and the QAA/30AA/90AA. ?
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ceejay
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Post by ceejay on Apr 15, 2020 7:26:50 GMT
Repayments seem to have basically stopped for me as well apart from a few pound each day. Surely this can't carry on like this ,it will take years to clear queued withdrawals Have you looked out of the window recently? In case you hadn't noticed, huge parts of the economy have simply ground to a halt. Companies are going bust, people are out of work. Expecting this particular corner of the economy to be unaffected is - well, let's say optimistic. And of course it can't carry on like this, in exactly the same way that the lockdown of most of the world can't carry on like this - there will be developments and unlockings and recovery, but it will take time that is likely to be measured in at least months and more likely years. Significant withdrawals are going to be contingent on major loans being repaid. Who, exactly, is able to complete and then sell a development at the moment? Sure, there will be the odd one and we'll all go hooray because that days repayment was £100 instead of £2. There will be significantly more loans going bad than we might have expected, and than the PF was sized for. What that means for the final outcome is literally impossible to say right now. Much depends on whether any of the government's largesse reaches this neck of the woods, not to mention how quickly a vaccine becomes available. Patience, my friend, patience.
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alender
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Post by alender on Apr 15, 2020 7:38:04 GMT
Repayments seem to have basically stopped for me as well apart from a few pound each day. Surely this can't carry on like this ,it will take years to clear queued withdrawals The bulk of repayments of loans in AAs are not being passed back to the lenders but kept by AC in these accounts, this is probably due to the fact AC have a number of Loans where money has promised in the way of future drawdowns which AC have no other way to fund.
In brief repayments are going to fund promises made by AC with money they did not have. All we can hope is that these repayments are not going into loans that will go bad.
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blender
Member of DD Central
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Post by blender on Apr 15, 2020 7:57:30 GMT
And don't forget the new fees on lenders which will be payable monthly to AC. Presumably this will come from cash which was otherwise due to lenders but will probably find its way to AC's coffers without resting in lenders' cash accounts longer than momentarily (making it taxable).
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alender
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Post by alender on Apr 15, 2020 8:09:50 GMT
Patience, my friend, patience. _
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agent69
Member of DD Central
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Post by agent69 on Apr 15, 2020 8:44:34 GMT
Repayments seem to have basically stopped for me as well apart from a few pound each day. Surely this can't carry on like this ,it will take years to clear queued withdrawals Have you looked out of the window recently? In case you hadn't noticed, huge parts of the economy have simply ground to a halt. Companies are going bust, people are out of work. Expecting this particular corner of the economy to be unaffected is - well, let's say optimistic.And of course it can't carry on like this, in exactly the same way that the lockdown of most of the world can't carry on like this - there will be developments and unlockings and recovery, but it will take time that is likely to be measured in at least months and more likely years. Significant withdrawals are going to be contingent on major loans being repaid. Who, exactly, is able to complete and then sell a development at the moment? Sure, there will be the odd one and we'll all go hooray because that days repayment was £100 instead of £2. There will be significantly more loans going bad than we might have expected, and than the PF was sized for. What that means for the final outcome is literally impossible to say right now. Much depends on whether any of the government's largesse reaches this neck of the woods, not to mention how quickly a vaccine becomes available. Patience, my friend, patience. Some parts of the P2P2 universe are holding up better than others. Just had an email from Unbolted saying their recent recoveries on defaulted loans is around 120% of the debt.
The problem with most platforms is that they were woefully unprepared for a rocky ride, and appeared to think they would be living in a land of milk and honey forever.
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