geoff
Member of DD Central
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Post by geoff on Feb 28, 2017 14:16:09 GMT
Have you considered that many, if not most investors in this loan would sell if they could. Unfortunately for obvious reasons this has not been possible for some considerable time. To describe holders of this loan as fools is an unworthy sweeping generalisation. Well, jeepers thinks they are fools, I'll say nothing. I will say that those paying the slightest attention had ample opportunity to off-load this, and all the way back in may 2016, there are posters on this thread expressing astonishment that people were still buying it. What they would make of the £4070 purchase three days back, I have no idea. SS is clearly not for everybody. Really? Last May, there was already £70K+ on the SM. Very few were buying, so even then it was proving very difficult to sell except for the few at the front of the queue. The situation has not materially changed since then.
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Post by jackpease on Feb 28, 2017 14:23:21 GMT
This is why we need a default that leads to a modest investor haircut and not swept under the carpet of a protection fund.
A boast that lenders have not lost a penny for me is an open invite for people to assume that bad loans will make good and then claim they were misled.
Jack P
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 28, 2017 14:51:01 GMT
REPAID  geoff - please spill the beans  |
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SteveT
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Post by SteveT on Feb 28, 2017 14:54:19 GMT
The "Default Loans" page now seems to be tying itself in knots (in my browser anyway) trying to find something to display  |
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elsee
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Retired:D
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Post by elsee on Feb 28, 2017 14:55:35 GMT
Yep, it says "No loans to show"
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Post by spareapennyor2 on Feb 28, 2017 14:57:02 GMT
no loans to show
will we see a update sold?
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Post by gaspilot on Feb 28, 2017 15:00:40 GMT
REPAID geoff - please spill the beans I can see that the loan is no longer in the default section but the page just keeps refreshing. No sign of any funds in my account, however  . Edit: All capital refunded. No interest as yet. Phew!
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 28, 2017 15:02:36 GMT
REPAID geoff - please spill the beans I can see that the loan is no longer in the default section but the page just keeps refreshing. No sign of any funds in my account, however . Looks like the refresh needs to be refined.... or another default to fill the void 
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gurberly
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Post by gurberly on Feb 28, 2017 15:04:08 GMT
From the garden centre's Facebook page. Starting to come together and hoping to open by 1 April. Sign indicates the cafe is open as stated by @49 . (Mods: To the best of my knowledge the asset is not identified. ) Thanks Timmy. I wish the best of luck to the new owners and I hope they can make it a going concern and keep the business running and viable. Hopefully the previous employees of the garden center will be able to find jobs again soon. The peeps at the cafe could do with a wee round of applause too, as they have kept going despite having a real shitty end of the stick.
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SteveT
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Post by SteveT on Feb 28, 2017 15:04:43 GMT
Edit: All capital refunded. No interest as yet. Phew! Any interest would presumably be paid as part of the month-end run (tomorrow) ...
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jamesc
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Post by jamesc on Feb 28, 2017 15:05:58 GMT
What would be really nice to known, although I guess we will never know is how much they had to dip into the provision fund for ?
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sl75
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Post by sl75 on Feb 28, 2017 15:08:18 GMT
Edit: All capital refunded. No interest as yet. Phew! Interest is normally saved up to be paid as a batch at the start of the next month... but as that's tomorrow, there shouldn't be too much "wait and see". Could be good timing for SS to send a positive message about recoveries of defaults, just as a few more are about to be classified as such.
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oldgrumpy
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Post by oldgrumpy on Feb 28, 2017 15:15:32 GMT
I've got my 1p back.  No interest though. |
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sg
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Post by sg on Feb 28, 2017 15:18:41 GMT
It will be interesting to see if we see the SM get bought up the same as it did the other day. My bet is that this money will be getting withdrawn immediately and not going back on -ve day loans (once bitten). But on the other hand if the interest is paid up in full then who knows. Interesting times.
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lobster
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Post by lobster on Feb 28, 2017 15:24:09 GMT
I reckon the SM will be cleared out within an hour , obviously funded by garden centre proceeds. Interest will be interesting (tomorrow presumably) |
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No interest though. 