Mucho P2P
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Post by Mucho P2P on Oct 29, 2020 8:34:42 GMT
should be plenty from suspended interest/non repayment etc to pay investors pennies in the pound to keep them quite. will there be enough to keep paying directors wages of £8k to £10k per week each for the next few years is another story I queried the wage aspect with Wellesley. Has anyone taken a cut or freeze on wages. They refused to comment. Go figure!
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Post by angel19 on Oct 29, 2020 9:32:19 GMT
First bond repayments under CVA in account now.
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Post by belladog on Oct 29, 2020 9:35:15 GMT
I take it that the repayments for P2P won’t be in until December. Let’s hope that they can honour those. sws
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Post by angel19 on Oct 29, 2020 9:39:53 GMT
I take it that the repayments for P2P won’t be in until December. Let’s hope that they can honour those. sws Yes, P2P repayments are scheduled for Dec 20, Jun 21 and Dec 21. Your individual amounts due and dates should be visible in your Wellesley Classic Account.
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mogish
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Post by mogish on Oct 29, 2020 17:06:03 GMT
I take it that the repayments for P2P won’t be in until December. Let’s hope that they can honour those. sws Yes, P2P repayments are scheduled for Dec 20, Jun 21 and Dec 21. Your individual amounts due and dates should be visible in your Wellesley Classic Account. Wonder what the reason is the larger payments are being made end of 2021. Will they still be about in 21!?
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Post by belladog on Oct 29, 2020 17:56:46 GMT
I’m waiting until their new finance company, 365 or something, start to advertise. I imagine that the reviews they will get on trust pilot will rubbish them like nobody’s business. Talking about trust pilot, if you look at the Wellesley reviews you will find some sort of scammer who keeps adverting some weird company who will get your money back. Whenever people have a problem there’s someone who wants to take advantage of their situation. sws
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Post by waryinvestor on Oct 29, 2020 21:40:20 GMT
should be plenty from suspended interest/non repayment etc to pay investors pennies in the pound to keep them quite. will there be enough to keep paying directors wages of £8k to £10k per week each for the next few years is another story Moreover, they have recovered some amounts (as can be seen by drilling down Classic Account - Summary - Individual Loans), however, they have neither repaid those whole amounts to Investors, nor have they reduced the Suspended Balance (so Investors would only get back 31% instead of 48%).
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Post by exbanker on Oct 29, 2020 22:41:52 GMT
I see they are still trying to manipulate the Trustpilot reviews with at least one of the reviews flagged as “reviewer contacted”. Dare say that’s because the reviewer mentions that they aren’t currently invested in Wellesley. You would think why would they bother given how many one star reviews they now have - shame on them for manipulating it previously otherwise some people at least may have been warned off. Must also mean that they are continuing to pay their marketing consultant Andrew B - notice his name still appears as the contact email address on their website under the Contact Us screen. someone who is a member of the Facebook group may want to just warn investors to keep an eye on reviews they have left on Trustpilot and complain if they start getting taken down. Another indicator that these guys won’t ever give up trying to work the systems where they are able to.
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jo
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Post by jo on Nov 9, 2022 17:17:02 GMT
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ilmoro
Member of DD Central
'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 Nov 9, 2022 19:33:53 GMT
Mini bonds are a greater priority ... at least two have criminal investigations under way
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Mucho P2P
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Post by Mucho P2P on Nov 10, 2022 7:40:00 GMT
I would hazard a guess that W is less complex than L and FS, and there are less funds involved, so a slightly easier task to place a tick against for the FCA.
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mogish
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Post by mogish on Nov 14, 2022 16:59:49 GMT
My "free" ipad reminds me daily of w&co. Lucky I only lost a fairly small amount in p2p, a real shame for mini bond holders. A disgrace these sharks still walk the streets freely.holding director positions with no conscience or consequence.
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duck
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Post by duck on Nov 16, 2022 16:36:21 GMT
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mah
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Post by mah on Nov 19, 2022 21:49:51 GMT
89. What steps did the FCA take or Failed to take when they were made aware about the Illegal Sale of the Loan Book by Wellesley P2P to their sister concern CloverLeaf376 at a much Discounted Price despite a FCA VREQ in place ?
We can make no comment on whether the sale of the loan book was “illegal” or whether the price achieved was “much discounted” as that would be a matter for a court of law to determine. Well, if the FCA were aware that Wellesley & Co Ltd was blatantly violating the FCA mandated VREQ (of not disposing of any Assets), it was obviously illegal (at least the Violation of their own VREQ, discounted or not). And, they were aware before the Loan Book Sale actually happened (Duck ?).
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duck
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Post by duck on Nov 20, 2022 1:03:12 GMT
mah I know no more than what I have posted above, I came across it on my daily trawl of all things FCA, sorry.
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