TitoPuente
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Post by TitoPuente on Jun 8, 2022 7:40:31 GMT
A**1 Ltd First Gazette notice for compulsory strike-off. For these chaps this is standard operating procedures.
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ptr120
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Post by ptr120 on Jun 8, 2022 7:55:41 GMT
Wasn't there an update on these loans that a report was due last week? In any event, I'm sure ablrate are on the case to protect us against the compulsory strikeoff (and recover our money)..... |
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Post by westcountry on Jun 8, 2022 17:57:57 GMT
Wasn't there an update on these loans that a report was due last week? In any event, I'm sure ablrate are on the case to protect us against the compulsory strikeoff (and recover our money)..... Sadly, I've come to the conclusion that all our money in non-paying ABLRate loans is probably lost forever  It's not just that the borrowers (not just A**) are dodgy, but that ABLRate isn't even trying to recover our money.
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Post by ablrate on Jun 17, 2022 15:58:21 GMT
Wasn't there an update on these loans that a report was due last week? In any event, I'm sure ablrate are on the case to protect us against the compulsory strikeoff (and recover our money)..... Sadly, I've come to the conclusion that all our money in non-paying ABLRate loans is probably lost forever  It's not just that the borrowers (not just A**) are dodgy, but that ABLRate isn't even trying to recover our money. What nonesense.
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steveb
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Post by steveb on Jun 20, 2022 20:39:09 GMT
Does anybody know what's going on with these loans? We keep getting promised a report that never materialises and like other non performing loans we only get a bit of jam for the future (again that never materialises) when there is a deluge of complaints on this forum or when a new loan needs filling.
Steve
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p2pfan
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Post by p2pfan on Jun 21, 2022 9:12:55 GMT
Does anybody know what's going on with these loans? We keep getting promised a report that never materialises and like other non performing loans we only get a bit of jam for the future (again that never materialises) when there is a deluge of complaints on this forum or when a new loan needs filling.
Steve
The situation with these loans is highly worrying. Yes, you're right that we have been kept on hold for several months now, all the while not a single interest payment has been made. I am of the belief the lack of insight is as a result of there being negative news which ABL are trying to avoid telling lenders. If there was good news, we would have been told straight away. I've enquired with ABL a few times this year about these loans but, like everyone else, am merely told there some sort of report being conducted on the borrower. Is there anything at all that lenders can do?
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Post by Ace on Jul 7, 2022 13:31:33 GMT
ablrate, any news on "the report" on these loans that you were expecting at the end of May?
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p2pfan
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Post by p2pfan on Jul 14, 2022 23:13:59 GMT
ablrate , any news on "the report" on these loans that you were expecting at the end of May? Both ABL and the borrower have gone AWOL as regards this loan. The borrower hasn't paid interest the whole of this year and ABL seem not to care the slightest. I wonder how ABL staff would feel if they hadn't been paid since 2021.
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steveb
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Post by steveb on Jul 15, 2022 9:43:18 GMT
ablrate , any news on "the report" on these loans that you were expecting at the end of May? Both ABL and the borrower have gone AWOL as regards this loan. The borrower hasn't paid interest the whole of this year and ABL seem not to care the slightest. I wonder how ABL staff would feel if they hadn't been paid since 2021. Yes the situation with these and a lot of the other loans is a disgrace (just take a look at the loan book).
When the complaints get to much even for ABL, we are told the report will be out next week or things are progressing, but nothing ever happens.
To me it looks like ABL has a policy of always trying to buy a bit more time above anything else.
Steve
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Balder
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Post by Balder on Jul 15, 2022 14:39:52 GMT
Both ABL and the borrower have gone AWOL as regards this loan. The borrower hasn't paid interest the whole of this year and ABL seem not to care the slightest. I wonder how ABL staff would feel if they hadn't been paid since 2021. Yes the situation with these and a lot of the other loans is a disgrace (just take a look at the loan book).
When the complaints get to much even for ABL, we are told the report will be out next week or things are progressing, but nothing ever happens.
To me it looks like ABL has a policy of always trying to buy a bit more time above anything else.
Steve
I asked DBW by email on Monday this week about an update, his response:- "Yes, there will be an update out this week, likely in the next couple of days". obviously failed on the couple of days!
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Balder
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Post by Balder on Jul 16, 2022 9:40:47 GMT
ablrate so after a direct email on Monday saying an update would be provided this week - nothing has happened. This is DBW himself failing to deliver on his own set expectations (though he was ex-military) more trust eroded!
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Post by ladywhitenap on Jul 16, 2022 9:48:57 GMT
ablrate so after a direct email on Monday saying an update would be provided this week - nothing has happened. This is DBW himself failing to deliver on his own set expectations (though he was ex-military) more trust eroded! Although thankfully I'm no longer in the business world other than a spectator, I was always taught that especially in a service industry to under promise and over deliver as the converse always creates a bad impression that gets remembered. I've always tried to be loyal to DBW - after all he has a good wedge of my cash but it is becoming increasingly difficult with his consistent under delivery policy. LW
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tony9239
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Post by tony9239 on Jul 19, 2022 16:21:45 GMT
Sadly, I've come to the conclusion that all our money in non-paying ABLRate loans is probably lost forever It's not just that the borrowers (not just A**) are dodgy, but that ABLRate isn't even trying to recover our money. What nonesense. Well, ablrate, nonsense it may be but can you please explain why, when second hand cars are having their biggest boom in years, this borrower has paid no interest or capital for 8 months now? And why, since they have effectively defaulted, ablrate has not been up to Leeds and seized all the vehicles (our security) and sold them off into the afore-mentioned booming market?
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tony9239
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Post by tony9239 on Jul 22, 2022 9:19:41 GMT
I completely agree with you about being suspicious of so-called wealthy people borrowing money at very high rates - if they have the wealth then why would they borrow at such high rates of interest? (Unless of course they never intended to repay the loan anyway.)
On the A***1 car loans, surely not all our security has "disappeared" in the manner you describe? Whatever is still on forecourts should have been seized and sold to redeem the debts - or is this more of ablrate's "light touch" approach to defaults - i.e. get shafted.
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p2pfan
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Post by p2pfan on Jul 22, 2022 10:15:32 GMT
I completely agree with you about being suspicious of so-called wealthy people borrowing money at very high rates - if they have the wealth then why would they borrow at such high rates of interest? (Unless of course they never intended to repay the loan anyway.) On the A***1 car loans, surely not all our security has "disappeared" in the manner you describe? Whatever is still on forecourts should have been seized and sold to redeem the debts - or is this more of ablrate's "light touch" approach to defaults - i.e. get shafted. Agreed. I lost all the money I loaned to Buy2LetCars. In that case, lenders like myself were repeatedly reassured that, were they to be issues with the company paying us, lenders would simply be able to sell the cars and get their money back. I even had legal charge documents in my name etc. However, it turns out during the Administration process that the majority of cars that were our supposed to be our security simply did not exist! The value of the collateral was massively lower than lenders had been told i.e. out and out fraud. My huge worry is that the reason ABL has been conducting this "report" that is never disclosed to us, is that there is a similar issue with this borrower: the value of the securities has been hugely exaggerated and now we are all in hot water. Whatever the current value of the security, I sincerely hope ABL take urgent action and don't let this matter drag on further. Cars rapidly depreciate in value. This borrower has been given enough time. Waiting for a "report" to be concluded for several months is not going to enable any of us to get even a small ratio of our money back.
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It's not just that the borrowers (not just A**) are dodgy, but that ABLRate isn't even trying to recover our money. 
It's not just that the borrowers (not just A**) are dodgy, but that ABLRate isn't even trying to recover our money. 
