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Post by jasonnewman on Apr 5, 2020 15:25:58 GMT
If you have note voted B you have effectively allowed AC to change the terms of the business and jump through a legal loop hole.
When a business can't pay it is important early action is taken so AC can recoup as much cash as possible, if loans go into forbearance it means you will go back of the queue to get paid and will likely get back less.
VOTE B so AC do what they are being paid to do which is recover YOUR hard earned cash for non-performing loans.
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Post by Harland Kearney on Apr 5, 2020 15:35:15 GMT
If you have note voted B you have effectively allowed AC to change the terms of the business and jump through a legal loop hole. When a business can't pay it is important early action is taken so AC can recoup as much cash as possible, if loans go into forbearance it means you will go back of the queue to get paid and will likely get back less. VOTE B so AC do what they are being paid to do which is recover YOUR hard earned cash for non-performing loans. First Charge Secured assets is all you will be left. The people at the back of the queue are those who do not hold the charge over assets; which isn't us.
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Post by jasonnewman on Apr 5, 2020 15:41:33 GMT
Chasing loans now when there could be more cash in the business vs chasing them 3 months later when there is likely to be less cash will make a difference.
Harland your profile says you are 22 years old? I'm assuming your a small time investor here?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 5, 2020 15:49:06 GMT
If you have note voted B you have effectively allowed AC to change the terms of the business and jump through a legal loop hole. When a business can't pay it is important early action is taken so AC can recoup as much cash as possible, if loans go into forbearance it means you will go back of the queue to get paid and will likely get back less. VOTE B so AC do what they are being paid to do which is recover YOUR hard earned cash for non-performing loans. When a business cant pay it is important the RIGHT action is taken so AC can recoup as much cash as possible rather than inflicting an indicated probable 40% haircut, with some 90/180 day valuations being 0.
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Post by jasonnewman on Apr 5, 2020 15:51:01 GMT
If losses need to be taken they should be done o early, no point paying tax o interest and then incurring losses in the future tax years.
Vote B - Identify the weak businesses and repossess them.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 5, 2020 15:55:54 GMT
If you have note voted B you have effectively allowed AC to change the terms of the business and jump through a legal loop hole. When a business can't pay it is important early action is taken so AC can recoup as much cash as possible, if loans go into forbearance it means you will go back of the queue to get paid and will likely get back less. VOTE B so AC do what they are being paid to do which is recover YOUR hard earned cash for non-performing loans. Voting B would simply mean hundreds of individual Lender Votes (I'm guessing each with essentially the same text) rather than one. Where do you see the benefit of AC and Lenders carrying out the same actions hundreds of time? Actually AIUI voting B would merely mean that where forbearance is requested, AC would automatically apply that position where you are an investor in that loan and if sufficient investors in that loan had also voted B then forbearance would not be given. Its not a win-lose vote. That's my reading In order to deal with those requests expediently we are presenting this blanket vote to every single Lender currently invested with Assetz Capital and will then proportionally apply those votes to each loan ensuring we know Lenders’ position on each of those too. This will avoid numerous votes hitting Inbox’s as occurred with the recent updates, although at that time we felt it important to present you with a holding communication.
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Post by Harland Kearney on Apr 5, 2020 16:02:33 GMT
Chasing loans now when there could be more cash in the business vs chasing them 3 months later when there is likely to be less cash will make a difference. Harland your profile says you are 22 years old? I'm assuming your a small time investor here? Yes I am young, but I have been in P2P since 2016, and avoided the Lendy, FC fiscals by good calling. AC situation here is different, although if I am wrong I'm willing to take it on the chin as my mistake, as it would be. I'm more exposed to P2P than I really should of been (15%), due to short term money trapped in the QAA (ear marked for share investments for drawdown over the next 3-6 months, but not money that was needed for anything critical thankfully.) If my money was not split between ISA packet and main, I'd be on the short end of the pool stick to put it in perspective. Want a good outcome for all, but I don't see any option that to sit and wait, and not force lenders though 100's of votes. My portfolio is in 6 figures (all wealth, although I own no propety of my own) and I've created my own business as a CEO from when I was 15. Not that it is any of your business ofc. I started from £0 so do have a somwhat okay understanding of business. But I dont' know it all ofc not, and this situation is truely unseen in history so far.
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cb25
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Post by cb25 on Apr 5, 2020 16:04:02 GMT
Voting B would simply mean hundreds of individual Lender Votes (I'm guessing each with essentially the same text) rather than one. Where do you see the benefit of AC and Lenders carrying out the same actions hundreds of time? Actually AIUI voting B would merely mean that where forbearance is requested, AC would automatically apply that position where you are an investor in that loan and if sufficient investors in that loan had also voted B then forbearance would not be given. Its not a win-lose vote. That's my reading In order to deal with those requests expediently we are presenting this blanket vote to every single Lender currently invested with Assetz Capital and will then proportionally apply those votes to each loan ensuring we know Lenders’ position on each of those too. This will avoid numerous votes hitting Inbox’s as occurred with the recent updates, although at that time we felt it important to present you with a holding communication.Thanks, I see that now, having read the copy of the vote text put up earlier in this thread by iRobot , so have deleted my post above. Having said that, I'm still OK with having voted A. Whilst I've voted Option B on lender votes in the past, and will no doubt do so in the future, I wouldn't want to do it this time i) because of the extraordinary times which causes me (unusually) to go for compassion as a default, and ii) doesn't fit well with me to go for the hard-ass option without knowing individual Borrower circumstances.
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Post by jasonnewman on Apr 5, 2020 16:33:09 GMT
Chasing loans now when there could be more cash in the business vs chasing them 3 months later when there is likely to be less cash will make a difference. Harland your profile says you are 22 years old? I'm assuming your a small time investor here? Yes I am young, but I have been in P2P since 2016, and avoided the Lendy, FC fiscals by good calling. AC situation here is different, although if I am wrong I'm willing to take it on the chin as my mistake, as it would be. I'm more exposed to P2P than I really should of been (15%), due to short term money trapped in the QAA (ear marked for share investments for drawdown over the next 3-6 months, but not money that was needed for anything critical thankfully.) If my money was not split between ISA packet and main, I'd be on the short end of the pool stick to put it in perspective. Want a good outcome for all, but I don't see any option that to sit and wait, and not force lenders though 100's of votes. My portfilio is in 6 figures (all wealth, although I own no propety of my own) and I've created my own business as a CEO from when I was 15. Not that it is any of your business ofc. I started from £0 so do have a somwhat okay understanding of business. But I dont' know it all ofc not, and this situation is truely unseen in history so far. So you are telling us you have a £100k portfolio worth 15% of your net assets so you have about £700k to your name at the age of 22....
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Post by Harland Kearney on Apr 5, 2020 16:54:19 GMT
Yes I am young, but I have been in P2P since 2016, and avoided the Lendy, FC fiscals by good calling. AC situation here is different, although if I am wrong I'm willing to take it on the chin as my mistake, as it would be. I'm more exposed to P2P than I really should of been (15%), due to short term money trapped in the QAA (ear marked for share investments for drawdown over the next 3-6 months, but not money that was needed for anything critical thankfully.) If my money was not split between ISA packet and main, I'd be on the short end of the pool stick to put it in perspective. Want a good outcome for all, but I don't see any option that to sit and wait, and not force lenders though 100's of votes. My portfilio is in 6 figures ( all wealth, although I own no propety of my own) and I've created my own business as a CEO from when I was 15. Not that it is any of your business ofc. I started from £0 so do have a somwhat okay understanding of business. But I dont' know it all ofc not, and this situation is truely unseen in history so far. So you are telling us you have a £100k portfolio worth 15% of your net assets so you have about £700k to your name at the age of 22.... No, I didnt' say that. Are you even reading? All wealth. Whats with the disbelief? My Portfolio is in the lower six figures, but I do not wish to disclose anymore information like that online. 15% of that is in P2P, which is more than I want, mainly due to swept QAA and as above ear marked money. (I've always used it as a cash stop to prevent cash drag, in correlation to money market and active savings HL)
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Post by jasonnewman on Apr 5, 2020 16:57:24 GMT
Right you have £100k of which £15k is in P2P
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Post by Harland Kearney on Apr 5, 2020 16:58:52 GMT
Right you have £100k of which £15k is in P2P No, God please stop qouting me, for love of God. I will say it again, split between ISA Pool and Main I have enough split between both to just marginally be under therehold of having the pool in my favour (no more than 25k in any one account I believe is the number thrown around as of recent) I'm not telling you my total wealth specfically, I'm not even sure what the number is myself this sec, but it is higher than 100k, and my total in P2P is higher than 15k.
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Post by jasonnewman on Apr 5, 2020 17:04:59 GMT
My portfolio is in 6 figures (all wealth, although I own no propety of my own)
So £100k portfolio
I'm more exposed to P2P than I really should of been (15%),
Of which £15k is in P2P
£15k is NOTHING.....People with small amounts of money in P2P should not have the same influence on AC as people with larger amounts.
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Post by Harland Kearney on Apr 5, 2020 17:09:02 GMT
My portfilio is in six figures, I never said 100k, it is much more than that. But I am not disclosing. I honestly cant' tell if you are trolling at this point.
My investment in P2P overall is far greater than 15k (and greater in AC on its own), again I have no obligation to give your tin foil hat credit.
I dont' want influence of Assetz Capital, I want them to survire as a platform, do their job and see our investments though. That isnt' gonna happen by getting personal with somebody across a internet board.
Can we also please keep on topic, or I will ping the Moderators to stop you. You entirely derailed this thread to be about my money, which has no place on this thread anyway.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 5, 2020 18:22:18 GMT
£15k is NOTHING.....People with small amounts of money in P2P should not have the same influence on AC as people with larger amounts. Why? What makes you think that only large investors are able to make useful contributions that might influence platforms? Youll find there are quite a lot of contributors on these forums who have influenced platforms and not all of them are big hitters.
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