baz657
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Post by baz657 on Nov 26, 2014 18:34:47 GMT
I wont bore forum members with all the issues as just a cursory delve into most of the recent topics would require no further information. The members, all of them (not so dumb) investors have had their say yet the replies are somewhat silent. I've been through all this before with the high street banks and I've taken my money out from under them including all the cash I'd successfully got back they acquired from me (with help from official sources) via ways that were decidedly dodgy. I thought this time it would be different but if it's not, and the countdown clock is ticking loudly, my money will be finding somewhere else to go again.
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j
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Post by j on Nov 26, 2014 18:52:36 GMT
baz657, I wonder if a statement is imminent or the silence will continue?
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Post by bracknellboy on Nov 26, 2014 19:02:52 GMT
The current (relatively short) period of deafening silence is contra to ACs normal communication with this forum. An alternative view might be that they have got a bit overwhelmed with a number of issues relating to the new website and new account structures, and that they a) need to work on those and b) be in a position to make some more comprehensive / holistic statements rather than the continual 'point' responses to posts. That of course may not be the case, but it is a potential realistic scenario.
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oldgrumpy
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Post by oldgrumpy on Nov 26, 2014 19:37:37 GMT
I too can imagine an instruction being given to Chris and Colin to not spend time for a while on responding to multiple individual questions, complaints and criticisms - many of which relate to the same issues, and instead get to the nitty gritty of how the transition from one platform to the next has caused so many time consuming glitches in what should have been a flagship smooth-operating new system.... and fix those issues once and for all. I think Andrew will cover what is happening with a statement before long. Confidence needs a boost, badly. Or not.  |
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gnasher
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Post by gnasher on Nov 26, 2014 19:39:01 GMT
I agree with BB. The silence is only apparent when judged against their own very high communicative standard. Keeping up that level of communication in a forum such as this will take a great deal of time. They have to make a management decision as to whether that time is justified or not; whether they can better use the time on other things. Indeed the sort of things that lenders are asking them to do in this forum, sort out all the loans, sort out all the IT, sort out all the numbers etc. I for one would rather that they got on with those things, rather than posting in here.
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bugs4me
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Post by bugs4me on Nov 26, 2014 20:37:08 GMT
I too can imagine an instruction being given to Chris and Colin to not spend time for a while on responding to multiple individual questions, complaints and criticisms - many of which relate to the same issues, and instead get to the nitty gritty of how the transition from one platform to the next has caused so many time consuming glitches in what should have been a flagship smooth-operating new system.... and fix those issues once and for all. I think Andrew will cover what is happening with a statement before long. Confidence needs a boost, badly. Or not. I agree OG and sometimes it's a better use of time to simply get on and sort things out rather than answer questions. However, some of the questions are highly relevant and require urgent attention. For example, the question/query regarding the interest declaration for HMRC on the GEIA is I suspect putting many off - well me for starters and could come back to bite AC in a big way if investors (who do not read these forums) interpret the gross interest declared will be at 7% when in fact it may be at 9.5% or whatever. They will be in for a big ouch moment and will probably just go (for good). AC have been brilliant at communication in the past and I would suspect they have their hands full ATM especially with sorting out the odd not in good health loan. Nonetheless it was their decision the revamp the web site, introduce the GEIA, effectively kill off shadow bidding, etc, etc. Maybe it was just a step too far in one go but it's been taken so we have what we have. Hopefully they will get back to regular communication sooner rather than later but like any business, good reputations take time to establish but can quickly turn sour. Think AC are walking a very fine line over this.
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mikes1531
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Post by mikes1531 on Nov 26, 2014 20:49:51 GMT
I agree with BB. The silence is only apparent when judged against their own very high communicative standard. Keeping up that level of communication in a forum such as this will take a great deal of time. They have to make a management decision as to whether that time is justified or not; whether they can better use the time on other things. Indeed the sort of things that lenders are asking them to do in this forum, sort out all the loans, sort out all the IT, sort out all the numbers etc. I for one would rather that they got on with those things, rather than posting in here. I can understand the sentiment, but I'd still like to hear something from AC other than silence. It doesn't have to be a detailed addressing of every problem raised, but it would be nice to have an acknowledgement that issues exist and that they're putting solving those at the top of their agenda. What I really don't want to see is the launch of the next phase of the website development -- bespoke investment accounts? -- before problems with the currently existing phases have been sorted. I know AC want to press forward with their development/evolution, but they really need to get their house in order first. If they don't, their past will haunt them.
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oldgrumpy
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Post by oldgrumpy on Nov 26, 2014 20:50:32 GMT
"For example, the question/query regarding the interest declaration for HMRC on the GEIA is I suspect putting many off - well me for starters and could come back to bite AC in a big way if investors (who do not read these forums) interpret the gross interest declared will be at 7% when in fact it may be at 9.5% or whatever. They will be in for a big ouch moment and will probably just go (for good)."
Yes, that is a very big issue. I will be quite happy for Andrew to give me a public slap on this forum if I am wrong, but I would not be surprised if AC are in "vigorous damage limitation mode" on that one, or something would already have been said to clarify the issue. Did I hear echoes across the ether: "Oh b*llo**s. We hadn't thought of that!"
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b*llo**s = balloons, just in case any of you couldn't work it out.
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bugs4me
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Post by bugs4me on Nov 26, 2014 22:19:23 GMT
"For example, the question/query regarding the interest declaration for HMRC on the GEIA is I suspect putting many off - well me for starters and could come back to bite AC in a big way if investors (who do not read these forums) interpret the gross interest declared will be at 7% when in fact it may be at 9.5% or whatever. They will be in for a big ouch moment and will probably just go (for good)." Yes, that is a very big issue. I will be quite happy for Andrew to give me a public slap on this forum if I am wrong, but I would not be surprised if AC are in "vigorous damage limitation mode" on that one, or something would already have been said to clarify the issue. Did I hear echoes across the ether: "Oh b*llo**s. We hadn't thought of that!" . . . . . . b*llo**s = balloons, just in case any of you couldn't work it out. Thanks for clearing that up OG - I was wondering what b*llo**s meant -  The problem, in particular with the GEIA is the thread is becoming extremely damaging to AC through their lack of clarity. Reminds me of another forum when it seemed we all went round and round in circles trying to fathom out how something worked. The whole thing could have been sorted but the platform decided to stay 'mum'. I left as it became meaningless and started to withdraw funds as whilst my confidence in the company was not affected, platforms that for whatever reason refuse to engage are simply not for me. I do not feel I was alone in this decision. It will take one hell of a deal from them (the other platform) to get me back lending there again. I hope AC are not falling into the same trap. If they've screwed up somewhere just say so. Sure there will be a rant here and there but folks get over it far quicker than being left in the dark. I was a bit negative about the GEIA. Now I've decided not to get involved - ever - and just read other lender's experiences.
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Post by yorkshireman on Nov 27, 2014 10:58:22 GMT
Whilst I think that some AC personnel have made themselves too available in the past by answering what in many cases are trivial or wish list questions thus wasting time that could have been better spent on more important matters, their present silence is a little worrying.
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sand2880
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Post by sand2880 on Nov 27, 2014 11:06:31 GMT
I have to say that I've been happy with AZ'd communication on this site over the last few months and I'm not overly concerned with the issues raised have not been quickly answered. I feel that discussions will be ongoing within the company around the issues raised with the Green account and will be communicated within the next week or two.
However, it would be in their interest to confirm that the issues raised have been noted, as in the absense of any comment, speculation will grow until it becomes damaging, especially given their proactive approach in the recent past.
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Post by andrewholgate on Nov 27, 2014 16:08:29 GMT
I've always wondered how silence can deafen you.
For my own part, as AC grows and expands I am finding it increasingly difficult to have a regular presence on this forum, but I do try and dedicate some time each week to it.
I am looking at comments and hope to revert ASAP.
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bugs4me
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Post by bugs4me on Nov 27, 2014 16:17:31 GMT
I've always wondered how silence can deafen you. For my own part, as AC grows and expands I am finding it increasingly difficult to have a regular presence on this forum, but I do try and dedicate some time each week to it. I am looking at comments and hope to revert ASAP. Thanks for posting andrewholgate. It does appear that AC have gone from feast to famine with their participation around these parts. If you are reading the posts within the threads then you will be aware that there are many basic questions requiring clarification especially revolving around the GEIA so IMO a quick spurt of feast may be helpful to clear these. Just my thoughts.
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Post by bracknellboy on Nov 27, 2014 16:51:16 GMT
I've always wondered how silence can deafen you. You clearly don't suffer from tinnitus then.
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Post by andrewholgate on Nov 27, 2014 17:04:43 GMT
I've always wondered how silence can deafen you. You clearly don't suffer from tinnitus then. But a ringing sound isn't silence by the fact it is a sound.
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