criston
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Post by criston on Jun 12, 2021 21:21:18 GMT
We have probably been in & out of 50 loans over the past year or two, which includes redemptions & secondary market sales. Have had 2 problem loans, which rolled over interest. Strangely, have never been advised of any single late payments & all (except the 2 problem loans) have been paid on the 1st of the month. One problem loan, which looked to me very unlikely to receive full payment eventually paid out 100%. The updates were informative apart from any figures when the loan paid out. The other problem one is still ongoing, but at 29% LTV I am not worried about. My conclusion is that the reason they keep secretive about their record, is that they maintain their 100% pay out record (if that is still the case) by footing the bill themselves for any losses.They continue to be one of my preferred platforms. Well they must be very generous. I haven't seen any 'suspicious' pay outs, loans have either paid on time or been pursued through the courts (some of which have also been documented by mousey). Why would they leave loans running late for months or years and then have to pay lenders back not only the capital and interest to the end of term, but also default interest until they randomly decided to pay lenders back maybe years later? If this was a policy you would think they would have all loans apparently pay back on time, recover any late loans themselves as usual and pocket any default interest. Accepted, but my suggestion is not as exaggerated as your interpretation & could apply to just a small amount of instances.
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mah
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Post by mah on Jun 21, 2021 16:42:44 GMT
Any loan numbers I should look at? Pure curiosity. A***.
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Greenwood2
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Post by Greenwood2 on Jun 21, 2021 19:05:35 GMT
That is the one where the extremely difficult borrower has access to Somo updates, not sure if they are also on here. But limited updates for obvious reasons. You can contact Somo if you want more info.
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Greenwood2
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Post by Greenwood2 on Jun 21, 2021 19:09:59 GMT
Well they must be very generous. I haven't seen any 'suspicious' pay outs, loans have either paid on time or been pursued through the courts (some of which have also been documented by mousey). Why would they leave loans running late for months or years and then have to pay lenders back not only the capital and interest to the end of term, but also default interest until they randomly decided to pay lenders back maybe years later? If this was a policy you would think they would have all loans apparently pay back on time, recover any late loans themselves as usual and pocket any default interest. Accepted, but my suggestion is not as exaggerated as your interpretation & could apply to just a small amount of instances. Which ones?
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michaelc
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Post by michaelc on Jun 22, 2021 18:38:24 GMT
Accepted, but my suggestion is not as exaggerated as your interpretation & could apply to just a small amount of instances. Which ones? You seem to rate them extremely highly. Do you have an opinion on this update? The court lost the paperwork. Lost the paperwork. The court lost the paperwork.
I've said it to myself many times but it makes no sense and reads a bit like updates I used to get from funding secure. p2pindependentforum.com/thread/18588/update-fs-bc-somo
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Greenwood2
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Post by Greenwood2 on Jun 22, 2021 19:20:28 GMT
You seem to rate them extremely highly. Do you have an opinion on this update? The court lost the paperwork. Lost the paperwork. The court lost the paperwork.
I've said it to myself many times but it makes no sense and reads a bit like updates I used to get from funding secure. p2pindependentforum.com/thread/18588/update-fs-bc-somoThe court lost the paperwork full stop. Now proceedings going forward a month later, hearing listed July.
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Mousey
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Post by Mousey on Jun 26, 2021 8:13:45 GMT
IN THE HIGH COURT OF JUSTICE BUSINESS AND PROPERTY COURTS IN BIRMINGHAM BEFORE DISTRICT JUDGE RICH SITTING AT BIRMINGHAM CIVIL JUSTICE CENTRE ON MONDAY 28TH JUNE 2021 IN COURTROOM 110 ON THE FIRST FLOOR
SOCIAL MONEY LTD V M ARI* & 1 OTHER
READING (HRG 29TH JUNE 2021)
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Mousey
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Post by Mousey on Jun 28, 2021 18:22:29 GMT
IN THE HIGH COURT OF JUSTICE BUSINESS AND PROPERTY COURTS IN BIRMINGHAM BEFORE DISTRICT JUDGE RICH SITTING AT BIRMINGHAM CIVIL JUSTICE CENTRE ON TUESDAY 29TH JUNE 2021 IN COURTROOM 110 ON THE FIRST FLOOR
SOCIAL MONEY LTD V M ARI* & 1 OTHER
APPLICATION X2 HEARING BY BT MEET ME
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Mousey
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Post by Mousey on Jun 28, 2021 18:24:06 GMT
In The County Court and The Family Court at Staines Tuesday 29 June 2021 Before District Judge King
SOCIAL MONEY -v- ROCK****** PROPERTIES POSS ATTENDED
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Mousey
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Post by Mousey on Jun 29, 2021 18:22:06 GMT
In the County Court at Manchester Wednesday 30 June 2021 Before District Judge Davies
Social Money limited t/a PayL8R -v- UK Data**** Limited & M. Colo*** SAJ (Reading 11:15-11:25) 30 Minutes Telephone Hearing BTMM*
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Mousey
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Post by Mousey on Jul 5, 2021 20:47:48 GMT
In the Civil and Family Court at Edmonton
Tuesday 6 July 2021
Before Deputy District Judge Perry - Courtroom 1
SOCIAL MONEY LTD. -v- MR. SE*** YIL*** & MRS. HA*** YIL*** - SUBSTANTIVE (M) - 15 MINUTES
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Mousey
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Post by Mousey on Jul 14, 2021 21:51:07 GMT
In the County Court at Manchester Wednesday 30 June 2021 Before District Judge Davies
Social Money limited t/a PayL8R -v- UK Data**** Limited & M. Colo*** SAJ (Reading 11:15-11:25) 30 Minutes Telephone Hearing BTMM* Same listing for tomorrow but before a different Judge - Deputy District Judge Reynolds
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Mousey
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Post by Mousey on Jul 21, 2021 22:22:37 GMT
Tomorrow in Derby: SOCIAL MONEY LTD - V - HO***ELL
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Mousey
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Post by Mousey on Jul 22, 2021 20:55:18 GMT
Two tomorrow In The County Court and The Family Court at Brentford:
SOCIAL MONEY -v- PAT** & PAT**
SOCIAL MONEY -v- DEN***
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Mousey
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Post by Mousey on Aug 3, 2021 16:05:37 GMT
Tomorrow At London County Court: Social Money Limited t/a The Bridge Crowd -v- Mr Bri** Alfred Blu*** and Ms Sus** Anne Ba**
Disposal/directions hearing via MS teams 2 hours
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