withnell
Member of DD Central
Posts: 550 
Likes: 491
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Post by withnell on Apr 1, 2020 6:37:57 GMT
Vote No - As borrowers have access to government loans if lenders offer a 3 month payment holiday borrowers won’t be forced to access that cash & lenders will have access to zero cash over the next 6 months!! I'm guessing you don't have any money in Lendy, or Collateral? Cash is dripping out of Assetz, albeit slowly, but it's better than a firesale of the book and lender losses.
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Post by jasonnewman on Apr 1, 2020 6:54:56 GMT
Not dripping out fast enough I'm afraid I guess that is the issue.
I don't think a fixed payment for all accounts is the right way to go about this.
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pikestaff
Member of DD Central
Posts: 2,187
Likes: 1,546
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Post by pikestaff on Apr 1, 2020 7:12:44 GMT
I've voted A. It would be mad not to. All borrowers need our forbearance just now.
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ian
Posts: 342
Likes: 226
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Post by ian on Apr 1, 2020 7:46:27 GMT
Vote No - As borrowers have access to government loans if lenders offer a 3 month payment holiday borrowers won’t be forced to access that cash & lenders will have access to zero cash over the next 6 months!! I'm guessing you don't have any money in Lendy, or Collateral? Cash is dripping out of Assetz, albeit slowly, but it's better than a firesale of the book and lender losses. I do however AC don’t appear to recognise the financial pressure some lenders are under. I have lent to the platform, half of which being I needed to withdraw early April. Presently, as of AC blatantly not allowing investors to withdraw funds on a first come first served basis, insufficient is being returned. The proposals will now probably curtail that drip of income. Borrowers can access government emergency funds, however they are highly unlikely to pursue that given the forbearance proposals. Lenders do not have access to such funds. Would assetz capital like to step into the breach. As regards the proposal to charge lenders & borrower fees to invest this is preposterous, it’s blatant profiteering on their part increasing their margin at both ends !!!!
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angrysaveruk
Member of DD Central
Say No To T.D.S
Posts: 1,331
Likes: 788
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Post by angrysaveruk on Apr 1, 2020 7:48:15 GMT
There are 2 scenarios in my opinion:
1) In a few months things start to recover, lenders who do not work with borrowers are drowned under a wave of default
2) Things do not recover in a few months and your P2P investments will be the least of your concerns..
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Post by carol167 on Apr 1, 2020 7:52:57 GMT
The obvious needs to be said but I'm just thankful that neither I, nor anyone I know so far, are gasping for breath on a ventilator. Nothing else really matters in the grand scheme of things.
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Post by brightspark on Apr 1, 2020 7:56:20 GMT
I don't think it matters which way the vote goes. Events in the wider economy will actually dictate. In the narrow platform context Voting B may slow procedures a little.
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Post by bracknellboy on Apr 1, 2020 8:02:09 GMT
so when did this vote come out ? date/time ? I don't appear to have it. Not the first time. I have Stuart Law's lender update email, which mentions the vote, but I don't have anything specific to the vote.
EDIT: Ignore. I see the update email states they are doing a vote via the lender dashboard, so presumably there wasn't a separate vote request email.
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angrysaveruk
Member of DD Central
Say No To T.D.S
Posts: 1,331
Likes: 788
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Post by angrysaveruk on Apr 1, 2020 8:04:58 GMT
The obvious needs to be said but I'm just thankful that neither I, nor anyone I know so far, are gasping for breath on a ventilator. Nothing else really matters in the grand scheme of things.
That is very true, you are dead for a long time.
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corto
Member of DD Central
one-syllabistic
Posts: 851
Likes: 356
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Post by corto on Apr 1, 2020 8:06:37 GMT
It should show when you log into AC before anything else.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,056
Likes: 617
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Post by dave4 on Apr 1, 2020 8:07:26 GMT
so when did this vote come out ? date/time ? I don't appear to have it. Not the first time. I have Stuart Law's lender update email, which mentions the vote, but I don't have anything specific to the vote. Its currently (9am) blocking all access to the web site, you cannot miss it !!!!!!! apparently it will be moved.
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star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
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Post by star dust on Apr 1, 2020 8:15:34 GMT
so when did this vote come out ? date/time ? I don't appear to have it. Not the first time. I have Stuart Law's lender update email, which mentions the vote, but I don't have anything specific to the vote. Its currently (9am) blocking all access to the web site, you cannot miss it !!!!!!! apparently it will be moved. I'm amazed it's still there, I can't see it as I was so annoyed I voted "no" last night just to get rid of it so I could make a withdrawal request for my cash. Chris has said that that is a mistake and will be rectified tomorrow. Just log in I am absolutely sure they will cancel any votes already made. CHRIS? You'd need to email customer services to have your vote cancelled but I'm sure it would be arranged. If that's the best you can do my vote will remain on "no"
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Post by gothteteeshirt on Apr 1, 2020 8:34:41 GMT
I don't think it matters which way the vote goes. Events in the wider economy will actually dictate. In the narrow platform context Voting B may slow procedures a little. Forgone conclusion the outcome of vote and even if there was an 'upset' I have yet to read a convincing argument that AC management team are aspiring kamikaze pilots who are subsequently going to crash and burn the company.
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agent69
Member of DD Central
Posts: 6,043
Likes: 4,437
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Post by agent69 on Apr 1, 2020 8:50:27 GMT
Are AC compelled to accept the result of the vote?
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ceejay
Posts: 975
Likes: 1,149
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Post by ceejay on Apr 1, 2020 9:16:34 GMT
Are AC compelled to accept the result of the vote? I suspect that in the unlikely event of the outcome being "B", all that will happen as a consequence would be that we would be flooded with individual votes on each borrower. Which would be nothing more than a huge waste of AC's resources and our time.
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