star dust
Member of DD Central
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Post by star dust on Oct 20, 2020 15:24:47 GMT
So we understand that sl75 and df have very small exposure to these AC wind loans and consequently aren't concerned about AC conduct or liability here. That's fine, except that's not the purpose of this thread. This thread is for those who have a larger exposure to the wind loans, understand AC liability and are not content with AC conduct in sorting things out. This thread is for such lenders to make themselves known so they can link with others in the same position for so action to resolve matters. If you are like Sl75 and DF who aren't in this affected group, please don't troll this thread. Start your own thread instead. Also, it doesn't matter if all your wind loans were in GEIA. I will be contacting all those who have contacted me later this week. Thanks for reaching out😊 So what's a larger exposure then? How do you know what sl75 and df 's total exposure is in monetary terms? If someone is exiting AC the wind loans might be quite a high % of what's left, but less than four or even three figures in monetary terms. So what or who counts? It seems you don't have that much in them (or AC?) yourself Yeah there are serious questions to be asked, and more than have been listed here, and bikeman makes a good start....
I am trying to get some advice from finance lawyer I know (as I've only got a toe in this bungle) but the circumstances shout 'right of action' to me
I really thought AC were more competant than this, the tone of the updates smacks of bewilderment.
C'mon AC, get a wiggle on or this is going to bite you big time.
As for the rest well - it's a forum, and I suggest you take a look at the forum rules the first one of which is 'be polite and constructive' so stop calling people who have a different opinion to you trolls.
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dave2
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Post by dave2 on Oct 20, 2020 20:46:41 GMT
Good grief.
What is the purpose of this?
These are difficult times.
I want to see AC pull through the current situation successfully, maintain company stability, and re-commence their planned repayment offer when appropriate.
Are they trying to cheat us?
No.
They are making the correct financial decisions to protect the money in all of our loans.
Wuzimo, this is not a game of Jenga.
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Post by queenvictoria on Oct 21, 2020 17:34:18 GMT
Yes please Wuzimu
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angrysaveruk
Member of DD Central
Say No To T.D.S
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Post by angrysaveruk on Nov 3, 2020 23:13:13 GMT
To be fair to AC they have made an effort to pay off these loans and given the global pandemic i think it is reasonable to cut them some slack. With all the chaos that is coming down the line at us unless this is your only P2P investment you have alot more to worry about in my opinion.
I was in these loans through the MLA so only have myself to blame and i am grateful for anything i get back. I really didnt see what could go seriously wrong with wind turbines since i knew a farmer who set one up as a profitable diy investment (and he certainly isnt Nikola Tesla). I still dont fully understand what went wrong and why. Anyhow, Years of easy returns in P2P had made me over confident and forget P2P is a high risk investment. These loans are what woke me up and convinced me to get out of P2P so I view them as a valuable learning experience and Are the main reason i got out before covid19.
There are people who took a big hit on these through the GEA. I just lost a few months interest and overall made a good profit on AC.
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Post by bikeman on Nov 28, 2020 18:15:33 GMT
To be fair to AC they have made an effort to pay off these loans and given the global pandemic i think it is reasonable to cut them some slack. With all the chaos that is coming down the line at us unless this is your only P2P investment you have alot more to worry about in my opinion. I was in these loans through the MLA so only have myself to blame and i am grateful for anything i get back. I really didnt see what could go seriously wrong with wind turbines since i knew a farmer who set one up as a profitable diy investment (and he certainly isnt Nikola Tesla). I still dont fully understand what went wrong and why. Anyhow, Years of easy returns in P2P had made me over confident and forget P2P is a high risk investment. These loans are what woke me up and convinced me to get out of P2P so I view them as a valuable learning experience and Are the main reason i got out before covid19. There are people who took a big hit on these through the GEA. I just lost a few months interest and overall made a good profit on AC. So it was your choice to invest in these loans, so this thread doesn't apply to you does it. This is about GEIA investors who left the investment choice to AC and AC admitted liability and offered redress, then subsequently reneged on that promise despite raising a substantial amount of investment via incentives in the months leading up to the pandemic and as much afterwards through the business loan schemes. They were early to pull the plug before the defaults even came in and sat on investment cash which could have made the payments promised. Admitting liability and offering redress should mean something but apparently to AC a promise is quickly forgotten.
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wuzimu
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Post by wuzimu on Nov 30, 2020 18:22:15 GMT
To be specific.....
I started this thread to reach out to those AC lenders who are concerned about AC living up to their obligations and compensating lenders in these wind loans.
It doesn't matter whether you invested via MLA or GEIA. The negligence on behalf of AC that caused your losses is the same. The only thing that matters to me is that you are concerned about AC failure to sort this out by now and particularly if you would like to join in writing some letters to FCA and FOS about the matter.
I am about to circulate some draft letters that concerned lenders can use or alter if they like. If you'd like to take part please make yourself known here or PM me.
Regards Wuzimu
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