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Post by bikeman on Apr 9, 2020 12:39:05 GMT
The last payment I received as 23rd Dec. When did you receive a payment? It depends which of the I** loans you hold. If, like me, you only hold #437 (Neilston) , you won't have received anything  . AFAIK you should have received something if you held any of the others. This is because AC recovered some cash via a sale of the properties , but none of that cash pertained to #437, which remains unsold and of negligible value I believe. When AC were previously asked to explain why the #437 wasn't declared unrecoverable they referred to the possibility of recovery of the other loans. But now something's been recovered they want to treat them separately again. I would seem that AC group these loans together or split them according to their own benefit.
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Post by buzzablinio on Jun 25, 2020 8:20:44 GMT
Is it going to happen?
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iann
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Post by iann on Jun 25, 2020 10:55:42 GMT
If it is going to happen, it is typically at quarter end. Five days to go yet.
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rrrupert
Member of DD Central
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Post by rrrupert on Jun 25, 2020 16:20:51 GMT
I would put the odds somewhere very close to zero.
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Post by oppsididitagain on Jun 26, 2020 15:58:19 GMT
from the last correspondence
£750,000 on or before each next following quarter end date (31 December, 31 March, 30 June and 30 September in any year) until the Capital Outstanding has been paid to the Lenders in each of the loans.
FYI the last payment was made on March 31st. So hopefully we get something on June 30
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Post by buzzablinio on Jun 30, 2020 13:14:15 GMT
To quote Björk "it's oh so quiet" ....no money received yet, no update on the loans and no emails received....10 hours left of June....will this be my 3rd month of less than 1p return on over 20k of investment  |
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Post by popeye on Jun 30, 2020 15:43:40 GMT
Latest email says 3 month delay.
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Post by buzzablinio on Jun 30, 2020 15:49:41 GMT
Latest email says 3 month delay. Yep, not really a surprise. What is a surprise that AC waited until the 11th hour to say so....I guess it must have been a pretty close call 
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andy5
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Post by andy5 on Jun 30, 2020 17:20:17 GMT
Well, they did at least bother to tell people, even if it was only in the last 20 minutes of the last day.
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Post by bikeman on Jun 30, 2020 19:54:12 GMT
Latest email says 3 month delay. Yep, not really a surprise. What is a surprise that AC waited until the 11th hour to say so....I guess it must have been a pretty close call And was quickly followed by a good news lender bulletin stating that they've seen 'minimal loan defaults' and 'bumper interest payments'. <redacted>
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Mikeme
Member of DD Central
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Post by Mikeme on Jun 30, 2020 20:08:28 GMT
Damm sight better than FS Lendy FC. They have returned a lot and will continue to do so. Mistakes made early on? Yes but they've learned from them. just MHO.
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Post by bikeman on Jul 1, 2020 13:14:43 GMT
Damm sight better than FS Lendy FC. They have returned a lot and will continue to do so. Mistakes made early on? Yes but they've learned from them. just MHO. What's 'a damm sight better' with AC? They've accepted that they cocked up with these loans and agreed a repayment plan which they've now reneged on. With RS and FC, I am at least able to withdraw interest and not invest in new loans. Not the same situation at all. Are you even invested in these loans?
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Mikeme
Member of DD Central
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Post by Mikeme on Jul 1, 2020 14:01:38 GMT
Damm sight better than FS Lendy FC. They have returned a lot and will continue to do so. Mistakes made early on? Yes but they've learned from them. just MHO. What's 'a damm sight better' with AC? They've accepted that they cocked up with these loans and agreed a repayment plan which they've now reneged on. With RS and FC, I am at least able to withdraw interest and not invest in new loans. Not the same situation at all. Are you even invested in these loans? Yes! £2.5k to the Scottish laird. Much less in the Turbine loans. Yes mistakes were made on some loans but the assets are real EG. FC Short term property LondonLoan where they just walked away from a problem they created.. Compare the whole cart not a few bad apples. As for reneged, well a world wide pandemic came along. You are not investing in new loans here and interest is still being paid on most loans. I know nothing about RS
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Post by wanderer on Jul 1, 2020 14:36:51 GMT
The turbine loans repayment schedule was presumably only offered to lenders due to AC being advised by its lawyers that it would lose in court.
The Scottish Laird loan, and let's not forget he's a convicted criminal, is <redacted> due to AC using its lenders money to clear the bad debt of RBS. The majority of the Laird loan wasn't used as a loan at all, and this was never made clear in the documentation, nor was it made clear to people who were auto invested in the "loan" by the GBBA. It's a clear breach of the terms and conditions of the site, trust, competence, and is likely fraudulent. Given that AC admits he defaulted on £7m (that we know of) of RBS loans, lending him another £5m and expecting him to pay it back, all while drastically over valuing the security which has left lenders with little to no recourse, and blocking administration so <redacted> by building houses on the site through one of his other companies, will not be viewed in a positive light when this ends up in court, which undoubtedly it will.
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blender
Member of DD Central
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Post by blender on Jul 1, 2020 15:37:45 GMT
Ouch! wanderer
Never in the field of forum conflict have so many rules been scorned in just the first post. Glad I do not have these, but many lenders do. Is it really that bad?
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. AFAIK you should have received something if you held any of the others. This is because AC recovered some cash via a sale of the properties , but none of that cash pertained to #437, which remains unsold and of negligible value I believe.
