gramsky
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Post by gramsky on Mar 21, 2021 15:10:30 GMT
One question I have about this is: is £200,000 per month being paid off each of the individual loans or is £200,000 being split between the loans?
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Post by buzzablinio on Mar 21, 2021 16:17:56 GMT
One question I have about this is: is £200,000 per month being paid off each of the individual loans or is £200,000 being split between the loans? In view of the fact all 5 dodgy loans have been lumped together I'm pretty sure it's 200k for the bunch not each unfortunately. My back of a fag packet calculations suggest that if no additional funding comes on stream, and the 200k monthly payment is maintained, the five loans should be history within two years as far as retail investors are conned...sorry, concerned.
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Mar 21, 2021 17:26:01 GMT
Stupid Questions time.
E mail reads to me "we went to (mr fair play) and offered to pay more back cause we made a booboo" really who dose that!!!.
What happens if AC goes feet up within (say the 2 years)?
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gramsky
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Post by gramsky on Mar 21, 2021 17:47:15 GMT
Stupid Questions time. E mail reads to me "we went to (mr fair play) and offered to pay more back cause we made a booboo" really who dose that!!!. What happens if AC goes feet up within (say the 2 years)? We lose!
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Post by df on Mar 21, 2021 20:32:58 GMT
Stupid Questions time. E mail reads to me "we went to (mr fair play) and offered to pay more back cause we made a booboo" really who dose that!!!. What happens if AC goes feet up within (say the 2 years)? It will be repaid by then if everything goes to plan 
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lobster
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Post by lobster on Mar 21, 2021 21:28:47 GMT
Stupid Questions time. E mail reads to me "we went to (mr fair play) and offered to pay more back cause we made a booboo" really who dose that!!!. What happens if AC goes feet up within (say the 2 years)? It will be repaid by then if everything goes to plan Absolutely agreed - good news indeed. I can't understand why a couple of recent contributors to this thread seem upset for some reason ?? We are about to start being repaid - surely that is good news in itself ?! But what's even better is the fact that we will be repaid at a significantly higher rate of interest than was offered before the pandemic, and the higher rate of interest will also be applied retrospectively - what exactly is the problem with that ??
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lobster
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Post by lobster on Apr 1, 2021 17:13:13 GMT
Ok, well Assetz duly recommenced payments today , as promised, so no complaints there . By the size of today's payment , I would suggest that those thinking that these loans will take 2 years or more to pay out are somewhat OTT. Hard to say exactly, because of quite a complex interest element, but I would suggest 18 months would be closer to the mark. |
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Post by df on Apr 1, 2021 19:49:59 GMT
Ok, well Assetz duly recommenced payments today , as promised, so no complaints there . By the size of today's payment , I would suggest that those thinking that these loans will take 2 years or more to pay out are somewhat OTT. Hard to say exactly, because of quite a complex interest element, but I would suggest 18 months would be closer to the mark. I though it will be 22 months, but I might be wrong... in any case it's good that they are doing what they intended to do with regard to this loan. At the point I** collapsed I was overexposed in GEIA, so full repayment of this will have a sizeable effect on overall performance of my AC funds.
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Post by oppsididitagain on Apr 1, 2021 22:38:38 GMT
Does anyone know if the loan repayments are treated differently if you held these loans in the MLA compared to if you held them in the GBBA/GEA ?
I would presume full capital and interest if held in the GBBA/GEA via the PF but nothing in the MLA.
I'm trying to read over historic E mails and compare it what going on in my AC account but I'm just confusing myself.
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IFISAcava
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Post by IFISAcava on Apr 2, 2021 8:15:22 GMT
Does anyone know if the loan repayments are treated differently if you held these loans in the MLA compared to if you held them in the GBBA/GEA ? I would presume full capital and interest if held in the GBBA/GEA via the PF but nothing in the MLA. I'm trying to read over historic E mails and compare it what going on in my AC account but I'm just confusing myself. No, MLA being repaid too (not entirely sure if MLA also gets the upgraded interest from last communication though). Implicit is that AC messed up in the loans themselves as well as overexposing GEIA to the loans.
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Post by oppsididitagain on Apr 2, 2021 11:28:35 GMT
Does anyone know if the loan repayments are treated differently if you held these loans in the MLA compared to if you held them in the GBBA/GEA ? I would presume full capital and interest if held in the GBBA/GEA via the PF but nothing in the MLA. I'm trying to read over historic E mails and compare it what going on in my AC account but I'm just confusing myself. No, MLA being repaid too (not entirely sure if MLA also gets the upgraded interest from last communication though). Implicit is that AC messed up in the loans themselves as well as overexposing GEIA to the loans. Thanks for that, seems that the statements are showing loans being sold rather than principle repayments/Interest being applied which is why I couldn't work out whats going on .. Good to know and Im sure it will work out in the end.
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angrysaveruk
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Say No To T.D.S
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Post by angrysaveruk on Apr 30, 2021 10:12:49 GMT
Very Impressed with AC and their repayment on these loans. I am very pleased to be totally out of P2P apart from a few loans I didnt have a hope in hell of recovering even before the pandemic hit. Does anyone know if you can tell AC to close your account and write off your loans, it is not worth my while checking to see if the few hundred quid of loans I have left are ever repaid in part - which I am virtually certain they wont. *
* - I guess I could just try to sell them in the secondary market for 1p in the pound or something
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lobster
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Post by lobster on May 4, 2021 15:20:34 GMT
Another nice re-payment into the accounts of Mr&Mrs Lobster - no need for either of us to start getting snappy . In all honesty I'm actually now very pleased that these loans got into such trouble. The reason is that if these loans had been tradeable 12 months ago , I would have undoubtedly sold them at a firesale price at the height of the covid scare (as I unfortunately did with a load of other AC loans - an expensive mistake  ). However, as these loans were suspended, I was forced to keep them, and now find that they will be repaid in full with virtually all the interest !! I now wish AC had suspended the entire loanbook !! |
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alibaba
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Post by alibaba on May 11, 2021 9:45:18 GMT
I have lost the plot on this one, can anyone tell me when we can expect the next payment.
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drgonzo
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Post by drgonzo on May 11, 2021 9:47:41 GMT
I have lost the plot on this one, can anyone tell me when we can expect the next payment. Payments are now made on the first working day of each month.
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). However, as these loans were suspended, I was forced to keep them, and now find that they will be repaid in full with virtually all the interest !! I now wish AC had suspended the entire loanbook !! 
