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 
Likes: 11,523
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Post by ilmoro on Dec 22, 2021 19:06:16 GMT
Don't know if anyone noticed the latest Shrew* loan where AC's monthly fees are 37% of the borrower's monthly interest, put that in your pipe and smoke it. I'm looking for the lender upside here, I doubt there will be much interest in the MLA. This is what you get mixed into the fodder in the autolend accounts, no thanks. Yep, seems very out of line with other loans, both in overall rate/risk and AC share. Might get round to seek an explanation as to why it appears such an outlier. The upside will be the increasing valuation once the new home is done and both of trading histories but certainly not one I can see the MLA touching.
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mogish
Member of DD Central
Posts: 1,105
Likes: 527
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Post by mogish on Jan 2, 2022 18:31:39 GMT
Like most p2p platforms it's only when you want to leave that issues become apparent.
Over the last few years most have changed their t&Cs generally not for the good of investors.
Personally it really gets my goat when the bulls*** and smugness of senior management try to tell porkies which we can all see through.
LW and AC and w&co have been the biggest offenders.
To suggest we waste even more cash chasing someone across Monaco and elsewhere smacks of lining yet another mates business pockets.
Can AC be taken seriously when suggesting zopa investors may like to try them? Bounce back loan funding drying up?
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Post by overthehill on Jan 12, 2022 13:41:32 GMT
I'm assuming AC are still milking these government loans while they keep investors on bread and water.
I've really been trying to keep a few thousand invested but it's practically impossible. I'm just as happy to exit completely. The only imminent piece of meat that will have investors scrapping over like crocodiles has a 30% interest cut for AC (Proplend is 10% for comparison), perfect for the passive investors in the canned accounts. No thanks.
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zlb
Member of DD Central
Posts: 1,422
Likes: 333
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Post by zlb on Jan 13, 2022 21:16:21 GMT
Assetz AAs have helped me break even on the scorching by Lendy and crowd2fund. I started winding down my AC account a while back, as owing to other platform experiences I don't have much tolerance left, but I thought I was prob making the wrong decision. But, there's a different breeze in your comments here which sound moderate unless you group them all in a list including the shift from CBILS to retail which I don't understand the risk of. I'm hoping to keep my accnt open but empty for the time being. I wonder whether they allow that.
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Post by Ace on Jan 13, 2022 21:19:37 GMT
Assetz AAs have helped me break even on the scorching by Lendy and crowd2fund. I started winding down my AC account a while back, as owing to other platform experiences I don't have much tolerance left, but I thought I was prob making the wrong decision. But, there's a different breeze in your comments here which sound moderate unless you group them all in a list including the shift from CBILS to retail which I don't understand the risk of. I'm hoping to keep my accnt open but empty for the time being. I wonder whether they allow that. I don't think it's possible to empty an AC account. There's always a femto-pence left over somewhere.
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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
Likes: 11,523
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Post by ilmoro on Jan 13, 2022 22:14:36 GMT
Assetz AAs have helped me break even on the scorching by Lendy and crowd2fund. I started winding down my AC account a while back, as owing to other platform experiences I don't have much tolerance left, but I thought I was prob making the wrong decision. But, there's a different breeze in your comments here which sound moderate unless you group them all in a list including the shift from CBILS to retail which I don't understand the risk of. I'm hoping to keep my accnt open but empty for the time being. I wonder whether they allow that. I don't think it's possible to empty an AC account. There's always a femto-pence left over somewhere. Perfectly possible ... done it for GBBA& two 90day
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Post by Ace on Jan 13, 2022 22:17:53 GMT
I don't think it's possible to empty an AC account. There's always a femto-pence left over somewhere. Perfectly possible ... done it for GBBA& two 90day I meant the overall account, rather than the individual sub-accounts.
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easynow
Member of DD Central
Popcorn anyone?
Posts: 178
Likes: 147
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Post by easynow on Jan 14, 2022 9:28:54 GMT
I've had an account dormant for over two years, I left a fraction of a penny in the cash account.
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Post by overthehill on Jan 14, 2022 9:53:41 GMT
I don't think it's possible to empty an AC account. There's always a femto-pence left over somewhere. Perfectly possible ... done it for GBBA& two 90day
Able to withdraw all your money from closed accounts, still looking forward to that pleasure while I watch the wheels of recovery slowly grind on as AC coddles their provision funds.
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mogish
Member of DD Central
Posts: 1,105
Likes: 527
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Post by mogish on Jan 14, 2022 12:09:52 GMT
Perfectly possible ... done it for GBBA& two 90day
Able to withdraw all your money from closed accounts, still looking forward to that pleasure while I watch the wheels of recovery slowly grind on as AC coddles their provision funds.
Provision fund? The one covered in dust? Who knows when accounts can be closed as defaulted loans seem to take forever to close off. Any monies coming in seem to be "voted" to be used for chasing borrowers. Maybe its just Im a realist , but just give me back whats left , chasing ghosts is just throwing more money away.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323
Likes: 897
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Post by JamesFrance on Jan 14, 2022 14:57:18 GMT
I have been trying to exit for 2 years so reminded me to look to see if any funds in my accounts to withdraw. There was a small amount but still about £600 GBBA2 put into a single loan before they closed it down instead of rebalancing the allocations.
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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
Likes: 11,523
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Post by ilmoro on Jan 28, 2022 10:12:28 GMT
Wonder if AC have been listening to the debate? A current extension vote has AC increasing lender rate at the expense of their own cut  Current 19% 'gorging' dropping to 14% |
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mogish
Member of DD Central
Posts: 1,105
Likes: 527
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Post by mogish on Jan 29, 2022 12:16:32 GMT
Yes it would be interesting to see what percentage of p2p investors are still on the books V how many were there 3 to 4 years ago.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323
Likes: 897
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Post by JamesFrance on Jan 30, 2022 14:02:42 GMT
Yes it would be interesting to see what percentage of p2p investors are still on the books V how many were there 3 to 4 years ago. Less of course those of us who have been trying to get our money back and are not investing now.
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Post by df on Jan 30, 2022 20:34:36 GMT
Yes it would be interesting to see what percentage of p2p investors are still on the books V how many were there 3 to 4 years ago. My wife has an account, it was created for the bonus, after qualifying period all funds were withdrawn about 3 years ago. There's zero on the account, but we've never bothered closing it. There're probably many empty or nearly empty accounts as well as those who has withdrawn and in waiting for any possible returns from non-AA accounts... so if we had the statistics they wouldn't represent the number of active AC investors.
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