dh1
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Post by dh1 on Jun 19, 2020 18:46:55 GMT
Mine has turned up as well; the £ total ties up exactly with my records.
Sadly, the Collateral loan numbers don't tie up with the ones I have in a lot of cases, making loan for loan comparison tricky. BDO have named the borrowers but haven't included the Collateral Borrower ID making the comparison of my records with theirs dependent on just two factors: the Collateral loan number and the amount of the loan. Where the loan number is "wrong"....
BDO have specifically asked for feedback so accepting their product with ANY inconsistencies is probably unwise.
I think I'll have to do them a spreadsheet back....
Having completed the reconcilliation, there were 19 discrepencies (about 10%). I suspect that these reflect renewals of loans as if memory serves, Coll changed loan numbers every now and then.
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michaelc
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Post by michaelc on Jun 19, 2020 18:51:14 GMT
My reconciliation is missing £500 which I had uninvested on account. Is anybody else missing uninvested cash? I'm not sure. I'm certainly missing coincidentally £500 on two investments not listed in the spreadsheet but also I was prior to it going bust, writing down every month what the website said my total balance was. That total balance was nearly another £500 more than the total of all the "part funding notice" emails. To summarise: Balance on website before it went bust showed: X Total of all the "part funding" emails came to X - 500ish Total given by BCD in today's email: X - 1000ish
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tomp
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Post by tomp on Jun 19, 2020 18:52:59 GMT
My reconciliation is missing £500 which I had uninvested on account. Is anybody else missing uninvested cash? Cash is not included in summary
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Post by df on Jun 19, 2020 18:55:16 GMT
Collateral account reconciliation just received for myself + wife. Correct to the penny. Just imagine if you told someone in February 2018 that you'd not only not have a penny back but only just have confirmation of your account holdings through 2 years and 4 months later. They'd think you were barking mad. Same for me. This is, at least, some progress. I recall (I think?) somewhere on here someone very kindly set out a full list of the loan securities that had been sold (with the realised amount vs. principal outstanding), but I can't find it for the life of me now. Don't suppose anyone can point me in the right direction? Thank you! Before everyone starts shouting "Haven't had mine!!!", were you both amongst the percentage that had an earlier reconciliation that was wide of your understanding by some margin? (Whereas most lenders' were pretty much spot on, IIRC.) I've got mine at 18:29 today. The figure is exactly the same as previously communicated and I believe it was correct.
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DeafEater
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Post by DeafEater on Jun 19, 2020 18:56:54 GMT
My reconciliation is missing £500 which I had uninvested on account. Is anybody else missing uninvested cash? The email does specifically say that the list doesn't include any cash you held on the platform, just the loans. I have replied to confirm the loan figures and to remind them about the cash I held on the platform when it disappeared from view (a little over £600).
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ptr120
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Post by ptr120 on Jun 19, 2020 18:57:50 GMT
Any insight as to what the colour coding on the spreadsheet means?
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tomp
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Post by tomp on Jun 19, 2020 19:13:17 GMT
My reconciliation is missing £500 which I had uninvested on account. Is anybody else missing uninvested cash? The email does specifically say that the list doesn't include any cash you held on the platform, just the loans. I have replied to confirm the loan figures and to remind them about the cash I held on the platform when it disappeared from view (a little over £600).
Was there any communication in the past in regards to the uninvested cash balances?
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chris1200
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Post by chris1200 on Jun 19, 2020 19:25:19 GMT
The email does specifically say that the list doesn't include any cash you held on the platform, just the loans. I have replied to confirm the loan figures and to remind them about the cash I held on the platform when it disappeared from view (a little over £600).
Was there any communication in the past in regards to the uninvested cash balances? Others please correct me if I'm wrong, but I recall that there is an almighty cock-up such that there isn't anywhere near enough cash in the Collateral accounts to cover uninvested cash/non-drawndown loans. So something very dodgy was happening - some theorised that money might've been given to other borrowers (e.g. the Bolton student development) after Jessica at RR suggested this as a possibility. This is the type of thing that the courts/regulators should hopefully be coming down very hard on the directors for, but I don't know how fruitful this will be for us. I wonder, though, if it might provide slightly better grounds for complaint re the FCA than the standard complaint re other loans (given we thought these people were granted permission to operate etc., but were clearly not following FCA regs re client money in the slightest). (Edit: realise now you probably just meant the specific numbers themselves, but will leave the above there just in case helpful for others!)
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Carter
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Post by Carter on Jun 19, 2020 19:25:27 GMT
The email does specifically say that the list doesn't include any cash you held on the platform, just the loans. I have replied to confirm the loan figures and to remind them about the cash I held on the platform when it disappeared from view (a little over £600).
Was there any communication in the past in regards to the uninvested cash balances? I'm in the same camp, if you recall the proof of debt form, that they sent out nearly two years ago, it had the overall exposure value prepopulated on the form. The difference between that and today's confirmed loan investments does equal my expected cash. Don't know why they couldn't just tie this all up together.
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ganymede
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Post by ganymede on Jun 19, 2020 19:30:37 GMT
I've had mine, I checked the total only and spot on. I will do a full check later. Only had £0.99 cash to invest, so if that missing hardly worth too much worry.
Colours seem to be Green - Property, Blue - Chattels, Yellow - incomplete loan, Red - and a guess here with dissolved, administration these are loans with big questions over eventual recovery.
Green, Blue maybe a percentage return. Yellow - should be in part in bank accounts.
Red - seem to be loans with same people/companies guessing dealers, other pawn brokers gone out of business. Suspect there will be little return from these if any.
That's a quick assessment , looks like a busy weekend doing a detailed check against my records.
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DeafEater
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Post by DeafEater on Jun 19, 2020 19:39:45 GMT
The email does specifically say that the list doesn't include any cash you held on the platform, just the loans. I have replied to confirm the loan figures and to remind them about the cash I held on the platform when it disappeared from view (a little over £600).
Was there any communication in the past in regards to the uninvested cash balances? I've never had any figure for uninvested cash from BDO and certainly they seemed initially to have no idea how to glean it from the database they were recovering. Whether they can do so now isn't clear but you would have thought if they could, a figure would have been provided with the loan listings. Mind you given that rather a large sum of money was withdrawn from the Colateral bank account (presumably by messrs Rogue and Dosh) just before it was frozen, the chances of us getting any uninvested cash back is about as likely as a John Lennon comeback album.
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tomp
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Post by tomp on Jun 19, 2020 19:45:31 GMT
Was there any communication in the past in regards to the uninvested cash balances? I'm in the same camp, if you recall the proof of debt form, that they sent out nearly two years ago, it had the overall exposure value prepopulated on the form. The difference between that and today's confirmed loan investments does equal my expected cash. Don't know why they couldn't just tie this all up together. I agree that would be way better. I had substantial amount uninvested and would no like for that amount to be somehow forgotten
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ilmoro
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Post by ilmoro on Jun 19, 2020 19:49:37 GMT
Any insight as to what the colour coding on the spreadsheet means? Green for property, blue for pawn, red for dodgy?
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ilmoro
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'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 Jun 19, 2020 19:51:16 GMT
Mine is short by £500 due to two investments in: Tudor Place 2 cottages in Manley Road Anyone else in those two? (note there is not enough information there to identify the properties let alone the "borrower"). BL050, repaid I am led to believe Jan 18
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chris1200
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Post by chris1200 on Jun 19, 2020 19:51:25 GMT
Any insight as to what the colour coding on the spreadsheet means? Green for property, blue for pawn, red for dodgy? Yellow for a figment of your imagination
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