blender
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Post by blender on Feb 9, 2021 23:52:48 GMT
I can understand that the borrower might ask for some of the loan money from 154 to be deducted and used to make the 151 repayment, rather than having an extra transaction. The idea that they needed to do that is a real stretch, as is the idea that Ablrate would be facilitating further loans based on such a borrower cash position. 154 may have taken a week or more to fill, and then there would have been a problem.
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Balder
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Post by Balder on Feb 10, 2021 9:08:27 GMT
Ablrate by email told me that the payment was late because "the borrower didn't set up the DD - which has now been rectified for the future". Why that wasn't informed in a admin note i don't know!
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blender
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Post by blender on Feb 10, 2021 9:32:49 GMT
Ablrate by email told me that the payment was late because "the borrower didn't set up the DD - which has now been rectified for the future". Why that wasn't informed in a admin note i don't know! Maybe because they felt 'paid late' is a sufficient permanent record for a two-day delay.
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blender
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Post by blender on Feb 15, 2021 11:07:27 GMT
By my calculations there is another £250k needed to take this funding up to the £2M total. The SM is strong on these loans and the expected virgin borrowers must have taken religious vows by now. How about offering the last £250k, as long as I do not miss it again? £10k bid limit?
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macq
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Post by macq on Feb 15, 2021 11:19:28 GMT
By my calculations there is another £250k needed to take this funding up to the £2M total. The SM is strong on these loans and the expected virgin borrowers must have taken religious vows by now. How about offering the last £250k, as long as I do not miss it again? £10k bid limit? Within investing i have heard the words widows & orphans but virgins & religious vows sounds more interesting - is it found on the dark web?
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blender
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Post by blender on Feb 15, 2021 18:20:14 GMT
By my calculations there is another £250k needed to take this funding up to the £2M total. The SM is strong on these loans and the expected virgin borrowers must have taken religious vows by now. How about offering the last £250k, as long as I do not miss it again? £10k bid limit? Within investing i have heard the words widows & orphans but virgins & religious vows sounds more interesting - is it found on the dark web? Exclusively on Ablrate and ASMX, but best to use a VPN.
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Post by Badly Drawn Stickman on Feb 15, 2021 19:37:05 GMT
By my calculations there is another £250k needed to take this funding up to the £2M total. The SM is strong on these loans and the expected virgin borrowers must have taken religious vows by now. How about offering the last £250k, as long as I do not miss it again? £10k bid limit? I doubt your Jedi mind tricks will work with Ablrate, the force (or definitively something beginning with For) is strong with them. Palaces one, may think is quite likely, however the audience may wish to see one finish before more are started. The mob is bored and restless the rainmaker no longer enchants and amuses, a new entertainment is needed, the arena cries to be stained with new blood. (probably next week, for your wish)
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blender
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Post by blender on Feb 15, 2021 23:10:49 GMT
By my calculations there is another £250k needed to take this funding up to the £2M total. The SM is strong on these loans and the expected virgin borrowers must have taken religious vows by now. How about offering the last £250k, as long as I do not miss it again? £10k bid limit? I doubt your Jedi mind tricks will work with Ablrate, the force (or definitively something beginning with For) is strong with them. Palaces one, may think is quite likely, however the audience may wish to see one finish before more are started. The mob is bored and restless the rainmaker no longer enchants and amuses, a new entertainment is needed, the arena cries to be stained with new blood. (probably next week, for your wish) I'm just worried they may be giving up new lending for Lent.
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Balder
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Post by Balder on Feb 16, 2021 9:43:11 GMT
I doubt your Jedi mind tricks will work with Ablrate, the force (or definitively something beginning with For) is strong with them. Palaces one, may think is quite likely, however the audience may wish to see one finish before more are started. The mob is bored and restless the rainmaker no longer enchants and amuses, a new entertainment is needed, the arena cries to be stained with new blood. (probably next week, for your wish) I'm just worried they may be giving up new lending for Lent. More likely interest and re-payments!
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blender
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Post by blender on Feb 16, 2021 11:24:07 GMT
I'm just worried they may be giving up new lending for Lent. More likely interest and re-payments! That's a bit cruel. I have probably said before (short term memory on the wane) that the focus is on preserving lenders' capital, and that Ablrate gives up on a loan about as easily as Donald Trump concedes an election. And this is real work, not just failing to admit a loss. However, preserving is not the same as returning, especially on interest-only loans. The maturities in the near future will provide some interesting tests. Rainmaker looks good - we expect a great deluge. 60 and 120 seem to be completely outside of Ablrate's control, except to kick the can. The big test will be 133, imo. Repaying that on time would boost confidence in that borrower.
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Balder
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Post by Balder on Feb 16, 2021 11:52:16 GMT
More likely interest and re-payments! That's a bit cruel. I have probably said before (short term memory on the wane) that the focus is on preserving lenders' capital, and that Ablrate gives up on a loan about as easily as Donald Trump concedes an election. And this is real work, not just failing to admit a loss. However, preserving is not the same as returning, especially on interest-only loans. The maturities in the near future will provide some interesting tests. Rainmaker looks good - we expect a great deluge. 60 and 120 seem to be completely outside of Ablrate's control, except to kick the can. The big test will be 133, imo. Repaying that on time would boost confidence in that borrower. 33 worries me......
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ptr120
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Post by ptr120 on Feb 16, 2021 13:08:49 GMT
Anything related to any type of container is worrying to me, and I've been worried about the other container loans for some time. Unfortunately the platform are no longer willing to provide updates on those loans, even though the IP progress report was recently published. I gather that recently shipping costs and container rental fees have gone up significantly. However, the global nature of this product means that they could be literally anywhere in the world, and lack of port capacity could mean it might take rather a long time to bring them home.
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blender
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Post by blender on Feb 17, 2021 23:03:06 GMT
It is 133 that I consider the test, as the first of many. I don't hold 33 but agree that it is a concern. Is that not the one which was effectively a home-grown Ablrate loan involving a prominent staff member - at the time?
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Balder
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Post by Balder on Feb 18, 2021 8:09:13 GMT
It is 133 that I consider the test, as the first of many. I don't hold 33 but agree that it is a concern. Is that not the one which was effectively a home-grown Ablrate loan involving a prominent staff member - at the time? Yes, a staff member whose linkedin blurb says he left it in 2017 and generated double digit returns for investors. Looks more likely to be a capital loss.
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blender
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Post by blender on Feb 18, 2021 9:06:05 GMT
Yes, still a member of this forum as 'representative of Ablrate' though no posts since 2017. He was responsible for setting up the two popular container loans, and followed up by instigating 33 while part of Ablrate and before the other two went wrong. The other two were small and the double digit returns claim was justified overall at the time - certainly worked for me. Losses on 33, if that happens, would add a final black mark to the container episode of five years ago - but it would say nothing much about the current loan book.
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