Post by Mikeme on Mar 20, 2020 9:51:44 GMT
Much as I would have liked to take money out that issue is over. The right decision made by AC to support borrowers, lenders and keep AC stable was right. We don't want to see the likes of F*****G S****E administration.
So its time to look at how we lenders can support the platform and the borrowers. Almost all of the assets on the platform have a lower value today than last week but if we can get past the next year or 2 without doubt those values will increase again. Maybe not to the original values but better than forced sale and the huge costs of administration. That mitigates our overall loss.
We are where we are, it's time to stop flooding AC with complaints about the inability to withdraw. They would have made sure that what they did was legal!!!
So what is the purpose of this post? Quite simply for us to support AC staff working very hard to do the best for ALL of us.
Bearing in mind the governments announcements of support for businesses and the desire to keep people employed . Much of our lending is to the construction industry employing millions directly and indirectly. If we support them too they are more likely to survive.
Making sure unscrupulous borrowers don't take advantage ( I say that first simply to stop the negative comments)
Interest holiday/forgiveness,
Outside the box! Practical or legal? I don't know. Instead of hugely expensive administration only making money for lawyers and assets sold at low prices. Offer borrowers in trouble share holding in the asset. This would I think give both sides a better result.
Simplistic I know.
So its time to look at how we lenders can support the platform and the borrowers. Almost all of the assets on the platform have a lower value today than last week but if we can get past the next year or 2 without doubt those values will increase again. Maybe not to the original values but better than forced sale and the huge costs of administration. That mitigates our overall loss.
We are where we are, it's time to stop flooding AC with complaints about the inability to withdraw. They would have made sure that what they did was legal!!!
So what is the purpose of this post? Quite simply for us to support AC staff working very hard to do the best for ALL of us.
Bearing in mind the governments announcements of support for businesses and the desire to keep people employed . Much of our lending is to the construction industry employing millions directly and indirectly. If we support them too they are more likely to survive.
Making sure unscrupulous borrowers don't take advantage ( I say that first simply to stop the negative comments)
Interest holiday/forgiveness,
Outside the box! Practical or legal? I don't know. Instead of hugely expensive administration only making money for lawyers and assets sold at low prices. Offer borrowers in trouble share holding in the asset. This would I think give both sides a better result.
Simplistic I know.
