boundah
Member of DD Central
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Post by boundah on Dec 10, 2020 18:35:13 GMT
So, here at last. Not surprised, but I'm not sure it will turn out any better.
'The Directors of MoneyThing have issued a Notice to of Intention to Appoint Administrators (NOITA) over MoneyThing Capital Limited (“the Company”), effective today, 10th December 2020.'
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Mousey
Member of DD Central
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Post by Mousey on Dec 10, 2020 18:42:21 GMT
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Post by bracknellboy on Dec 10, 2020 18:45:16 GMT
So, here at last. Not surprised, but I'm not sure it will turn out any better. 'The Directors of MoneyThing have issued a Notice to of Intention to Appoint Administrators (NOITA) over MoneyThing Capital Limited (“the Company”), effective today, 10th December 2020.' I'm pretty sure it won't turn out any better, and probably considerably worse. Experience with other platforms that have ended up here is not good, at all.
Sad. Just the whole general bombed out landscape of P2P. Oh, and of course how too many of use are losing substantive sums of money. At least I wouldn't put the 'Things' in the same category as the ********s at Col/FS/lendy. Not much consolation but intent is still important.
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tony9239
Member of DD Central
Posts: 101
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Post by tony9239 on Dec 10, 2020 18:54:19 GMT
So, here at last. Not surprised, but I'm not sure it will turn out any better. 'The Directors of MoneyThing have issued a Notice to of Intention to Appoint Administrators (NOITA) over MoneyThing Capital Limited (“the Company”), effective today, 10th December 2020.' I'm pretty sure it won't turn out any better, and probably considerably worse. Experience with other platforms that have ended up here is not good, at all.
Sad. Just the whole general bombed out landscape of P2P. Oh, and of course how too many of use are losing substantive sums of money. At least I wouldn't put the 'Things' in the same category as the ********s at Col/FS/lendy. Not much consolation but intent is still important.
Now then, I don't agree they were ********s at Col/FS/lendy. More like ****s I'd say.
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Post by Financial Thing on Dec 10, 2020 19:07:45 GMT
I had to count the stars to really understand the used words here  |
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11025
Member of DD Central
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Post by 11025 on Dec 10, 2020 19:14:01 GMT
I guessed what it said before I opened it , Another Financial ombudsman case I had open that they couldn't finish before the administrators appeared  "The Directors of MoneyThing have taken this decision in order to protect the interests of the Company’s creditors as a whole" remind me; are we creditors , investors or lenders   |
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Post by Badly Drawn Stickman on Dec 10, 2020 19:14:34 GMT
So, here at last. Not surprised, but I'm not sure it will turn out any better. 'The Directors of MoneyThing have issued a Notice to of Intention to Appoint Administrators (NOITA) over MoneyThing Capital Limited (“the Company”), effective today, 10th December 2020.' I'm pretty sure it won't turn out any better, and probably considerably worse. Experience with other platforms that have ended up here is not good, at all.
Sad. Just the whole general bombed out landscape of P2P. Oh, and of course how too many of use are losing substantive sums of money. At least I wouldn't put the 'Things' in the same category as the ********s at Col/FS/lendy. Not much consolation but intent is still important.
Shortly after the administration email I received another notifying my withdrawal request had been processed. So I am going with immeasurably better. I wish them luck with sorting it out.
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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
Posts: 11,315
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Post by ilmoro on Dec 10, 2020 19:19:36 GMT
I guessed what it said before I opened it , Another Financial ombudsman case I had open that they couldn't finish before the administrators appeared "The Directors of MoneyThing have taken this decision in order to protect the interests of the Company’s creditors as a whole" remind me; are we creditors , investors or lenders Not creditors - so lenders or investors, terms seem to interchangeable
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11025
Member of DD Central
Posts: 737
Likes: 858
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Post by 11025 on Dec 10, 2020 19:36:12 GMT
I guessed what it said before I opened it , Another Financial ombudsman case I had open that they couldn't finish before the administrators appeared "The Directors of MoneyThing have taken this decision in order to protect the interests of the Company’s creditors as a whole" remind me; are we creditors , investors or lenders Not creditors - so lenders or investors, terms seem to interchangeable Yes , you get what I mean.
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Post by Companion Cube on Dec 10, 2020 19:56:36 GMT
I had to count the stars to really understand the used words here Well you can't count your lucky stars. ☺
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travolta
Member of DD Central
Posts: 1,506
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Post by travolta on Dec 10, 2020 22:32:07 GMT
Well , sit back and watch 'The Administrators' carve off what ever is left after everyone has had their cut.
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Mucho P2P
Member of DD Central
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Post by Mucho P2P on Dec 11, 2020 0:13:04 GMT
I guessed what it said before I opened it , Another Financial ombudsman case I had open that they couldn't finish before the administrators appeared "The Directors of MoneyThing have taken this decision in order to protect the interests of the Company’s creditors as a whole" remind me; are we creditors , investors or lenders Not creditors - so lenders or investors, terms seem to interchangeable Do you really have to ask what we are, bottom of the pile, whatever that is in financial terminology.
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Post by Ace on Dec 11, 2020 0:30:56 GMT
Not creditors - so lenders or investors, terms seem to interchangeable Do you really have to ask what we are, bottom of the pile, whatever that is in financial terminology. Bottom feeders?
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Post by bracknellboy on Dec 11, 2020 7:30:01 GMT
I didn't properly read the email last night, I'm sure others did. I see there is still the possibility, however small, that they reach agreement with whoever within the 10 day window and not actually appoint administrators.
By the way, which borrower is this, do we know ? Loan number will suffice of course, to keep within the forum rules....
EDIT: do we think this is the MT***2994 borrower ?
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Post by bracknellboy on Dec 11, 2020 7:31:15 GMT
I had to count the stars to really understand the used words here that's more than I did: I just "pressed and held". There can never be too many *'s to describes some of the **************s that got involved in p2p platforms.
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