ceejay
Posts: 971
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Post by ceejay on Apr 15, 2020 9:06:35 GMT
.... Expecting this particular corner of the economy to be unaffected is - well, let's say optimistic.... 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.
Good to hear that Unbolted's recent experience is good. That's almost certainly completely irrelevant to what will happen over the next 3 or 6 months. However, I can't argue with the proposition that different platforms are responding in different ways - that will mostly be down to a combination of their standard operating model and their borrower profiles. This is why diversifying across platforms was always a good idea for lenders. The problem with most platforms some lenders 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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Mikeme
Member of DD Central
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Post by Mikeme on Apr 17, 2020 10:27:52 GMT
ALL Queued funds released just now! 5 figures
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Post by Harland Kearney on Apr 17, 2020 10:35:04 GMT
ALL Queued funds released just now! 5 figures What is this a joke?
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Mikeme
Member of DD Central
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Likes: 331
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Post by Mikeme on Apr 17, 2020 10:38:06 GMT
NO Second entry was interest from 12th to 19th. NO JOKE
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Mikeme
Member of DD Central
Posts: 428
Likes: 331
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Post by Mikeme on Apr 17, 2020 10:46:44 GMT
Having got over the surprise KUDOS to AC for the actions they took. The majority of us here now have good reason to have supported them and to do so in the future.
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victors
Member of DD Central
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Post by victors on Apr 17, 2020 10:47:47 GMT
I have one withdrawal from 12th March released.
One from 15th March still in queued withdrawals.
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m2btj
Member of DD Central
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Post by m2btj on Apr 17, 2020 10:48:05 GMT
ALL Queued funds released just now! 5 figures I've just had £11k queued & released to Cash Account. I still have money from March 13 waiting in queue. AC must be using some liquidity (new?) to make limited payments on queued funds.
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Mikeme
Member of DD Central
Posts: 428
Likes: 331
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Post by Mikeme on Apr 17, 2020 10:51:29 GMT
ALL Queued funds released just now! 5 figures I've just had £11k queued & released to Cash Account. I still have money from March 13 waiting in queue. AC must be using some liquidity (new?) to make limited payments on queued funds. Ours 2 accounts withdrawal date 12th totalled more than £50K . I think they must be going through by date.
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r00lish67
Member of DD Central
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Post by r00lish67 on Apr 17, 2020 10:58:16 GMT
FAQ updated 11am this morning. I guess this explains it - ? Now that the situation has calmed down we are able to confirm that Access Account withdrawal requests which were made successfully (before the system began preventing attempts to do so) on the 12th March that have not yet been processed will now be paid out as a priority without need for you to make a request.
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jcb208
Member of DD Central
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Post by jcb208 on Apr 17, 2020 11:02:36 GMT
Not a penny for me still,I expect I'm bottom of the queue
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r00lish67
Member of DD Central
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Post by r00lish67 on Apr 17, 2020 11:04:50 GMT
Not a penny for me still,I expect I'm bottom of the queue Was yours on the 12th? AIUI, this isn't a change to the queue, it's just righting the wrong of those who successfully withdrew on the 12th having their withdrawal reversed after the fact. ( If I have picked up on the right thing, I wish Assetz would highlight changes on their FAQ!)
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savernake
Member of DD Central
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Post by savernake on Apr 17, 2020 11:07:10 GMT
Nothing for me either. My request was made on 15th March, so I expect I'm still in for a long wait. Having read the updated FAQs on the AC site, its not clear to me if this sudden payment of cash to people who made requests on the 12th is a one-off discretionary gesture by AC, or does it mean we are now above the MOL and the 'normal' queuing system has returned? Is this the end of the pool?
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Post by Harland Kearney on Apr 17, 2020 11:07:39 GMT
Well a reduction in the queue is good.
Unfontunely, even if they did return to a queued system. The investors who switched off Swept funds on the 12th will still be waiting until the 19th (as others pointed out too). Which is a long time no doubt.
Possibly some liquidity, I can see why they would want to pay off those people who had their withdrawals reversed on the 12th. That was a really brutal thing to read on the board.
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alanh
Posts: 556
Likes: 560
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Post by alanh on Apr 17, 2020 11:08:49 GMT
Nothing for me either. My request was made on 15th March, so I expect I'm still in for a long wait. Having read the updated FAQs on the AC site, its not clear to me if this sudden payment of cash to people who made requests on the 12th is a one-off discretionary gesture by AC, or does it mean we are now above the MOL and the 'normal' queuing system has returned? Is this the end of the pool? No its just a correction of the error they made when they locked people in that they shouldn't have on March 12th
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Post by Harland Kearney on Apr 17, 2020 11:10:10 GMT
I have one withdrawal from 12th March released. One from 15th March still in queued withdrawals. Did you have one withdrawal reversed on the 12th?
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