ian
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Post by ian on Sept 4, 2020 8:38:53 GMT
One criticism all us investors could have is the fact that we have to look to this platform to get information about the site.
We are all grateful that some stalwart contributors provide us all with information about :- redemptions & distributions; Discounts available for trading the secondary market and recent trades.
Additionally back of fag packet calculations of funds invested in each of the accounts, number of defaults etc are also useful for our understanding of the site & quality of our investment.
It also useful to know when AC renege on communicated interest payment rates; and there are material changes to terms and conditions.
It obviously begs the question why AC do not provide such information.
Maybe management could look at some of the information provided on here and provide it to there customers on the platform or via weekly updates.
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bugs4me
Member of DD Central
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Post by bugs4me on Sept 4, 2020 10:36:36 GMT
One criticism all us investors could have is the fact that we have to look to this platform to get information about the site. We are all grateful that some stalwart contributors provide us all with information about :- redemptions & distributions; Discounts available for trading the secondary market and recent trades. Additionally back of fag packet calculations of funds invested in each of the accounts, number of defaults etc are also useful for our understanding of the site & quality of our investment. It also useful to know when AC renege on communicated interest payment rates; and there are material changes to terms and conditions. It obviously begs the question why AC do not provide such information. Maybe management could look at some of the information provided on here and provide it to there customers on the platform or via weekly updates. Okay I’ll bite with my tuppence worth although I should declare that I exited AC shortly after AH left so I view posts academically. IMO, it’s all about transparency and whilst there are instances where information cannot be disclosed as it may adversely affect a future recovery, this ‘excuse card’ is vastly overplayed leading to lenders understandably believing a hidden agenda exists. An excellent example has to be the D******* M***** loan where valid questions are either ignored or when AC can be bothered to respond it’s done so in a patronising/condescending manner. There are other instances, GBBA for example where the maximum exposure was not meant to exceed 20% but this has been ignored by those that set the initial ground rules so an answer would not go amiss but once again AC bury their heads in the sand. Whilst I’m all in favour of working with borrowers to achieve a positive outcome (for all parties), again IMO AC have lost the plot and the main shareholders/directors are concentrating on other personal money making schemes. Once I feel the transparency of a platform diminishes then that in my book is a demonstration of their contempt towards lenders - so I’m off.
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p2pfan
Member of DD Central
Full-Time Investor
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Post by p2pfan on Sept 4, 2020 12:59:47 GMT
IMO AC have lost the plot and the main shareholders/directors are concentrating on other personal money making schemes. Thank you for sharing your thoughts bugs4me. Useful. I've experienced time and again when the people running the show at businesses indulge in their passion for being "serial entrepreneurs" the wheels fall off the wagon on their previous venture. It's cooler/more exciting + more to show off about working on sexier new projects than the day-to-day grind of making older projects continue to motor ahead. Do you have any insights on whether the main shareholders and/or directors at AC are now focusing on other ventures? If so, that'll be a very worrying sign for all of us invested into AC. Thanks.
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ian
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Post by ian on Sept 4, 2020 13:26:10 GMT
Irrespective of his things have been handled - good / bad & appallingly in many cases.
The fact I find this forum the primary source of key information indicates what a shambles the communication is.
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Post by bradley02 on Sept 4, 2020 13:31:26 GMT
Thank you for sharing your thoughts bugs4me. Useful. I've experienced time and again when the people running the show at businesses indulge in their passion for being "serial entrepreneurs" the wheels fall off the wagon on their previous venture. It's cooler/more exciting + more to show off about working on sexier new projects than the day-to-day grind of making older projects continue to motor ahead. Do you have any insights on whether the main shareholders and/or directors at AC are now focusing on other ventures? If so, that'll be a very worrying sign for all of us invested into AC. Thanks. Nonsense in my opinion. All of the company main equity holder / Directors / founding partners, I believe, are fully involved in a number of growth opportunities for the company and platform. Research the company and you will find recent partnership announcements with institutional investors, British Business Bank accredation for joint lending to businesses and Cbils, successful recent equity fund raising on Seedrs shows the growth direction the company is trying to pursue in very challenging financial times. So while I agree that all is not as we would like in regard to information and communication, it's misleading insinuation such as this that can panic investors into selling out at big discounts out of unwarranted fear.
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