agent69
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Post by agent69 on Jan 30, 2022 22:08:23 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 My wife has an account, it was created for the bonus, after qualifying period all funds were withdrawn about 3 years ago.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 There're probably many empty or nearly empty accounts as well as those who has withdrawn and in waiting for any possible returns from non-AA accounts...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. Still waiting for my £23 from the South Coast Plumbing man
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Post by davefoz on Feb 8, 2022 7:10:48 GMT
Time for AC to close the access accounts and open new accounts in order to leave investors in the access accounts with a raft of default loans which are inadequately covered by the provision fund ?
The residual capital will then used to cover their fees ??
The shiny new accounts to be promoted by Stuart Laws appearance in a marketing video explaining how they are very different from all predecessors ?
Just a thought.
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Post by overthehill on Feb 8, 2022 9:06:10 GMT
Time for AC to close the access accounts and open new accounts in order to leave investors in the access accounts with a raft of default loans which are inadequately covered by the provision fund ? The residual capital will then used to cover their fees ?? The shiny new accounts to be promoted by Stuart Laws appearance in a marketing video explaining how they are very different from all predecessors ? Just a thought.
Like me who has still got 25% of my historic interest payments stuck in the old business accounts as defaulted capital and accrued interest.
You left out our residual capital which is used to recover the remaining debt after the assets are sold and everyone has had their fill. Of course they have a vote but neither option offers the provision fund. It could hardly be more one sided, AC take no responsibility for the loans, danger ahead signs, no silly nonsense like we don't take our fees unless at least the capital is repaid.
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ton27
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Post by ton27 on Feb 8, 2022 13:13:48 GMT
Yes - they seem pretty focused on maximising their own returns at the expense of lenders. If the directors do not take it all in salaries/bonus/options(are there any?) there may even be something left for shareholders!
With recent loans at 5% I have ceased re-investment and thus the withdrawal from the platform will accelerate,albeit at a snails pace.
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mogish
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Post by mogish on Feb 9, 2022 10:37:51 GMT
The "great" brit business accounts dont seem to be recovering much debts.
Personally I would be happy to accept an offer on outstanding monies just to close my account.
However I do only have a few hundred left in which has only produced £31 in recovery over 6 months.
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alibaba
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Post by alibaba on Feb 9, 2022 11:40:32 GMT
The "great" brit business accounts dont seem to be recovering much debts. Personally I would be happy to accept an offer on outstanding monies just to close my account. However I do only have a few hundred left in which has only produced £31 in recovery over 6 months. after 5 years I still have 30k stuck in these accounts the pennies trickle in, I have very little hope of recoveries, what infuriates me is listening to the spin from AC. A very similar scenario to TC use the small investors to get us started then dump them when it suits.
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mogish
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Post by mogish on Feb 9, 2022 12:10:38 GMT
The "great" brit business accounts dont seem to be recovering much debts. Personally I would be happy to accept an offer on outstanding monies just to close my account. However I do only have a few hundred left in which has only produced £31 in recovery over 6 months. after 5 years I still have 30k stuck in these accounts the pennies trickle in, I have very little hope of recoveries, what infuriates me is listening to the spin from AC. A very similar scenario to TC use the small investors to get us started then dump them when it suits. Wow 30k that's bad. In hindsight , I balked at the sellout discounts I offered at the time but now I'm sure glad I did. Personally I dont believe the voting is worth the effort. The Greek loans cash could have been distributed to lenders, I dont believe for a second that cash will help recovery of loans, simply lost in the black hole of legal fees . Same with Scottish castle with assetz conflict of interest ....
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dead-money
Rocket to the Moon
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Post by dead-money on Feb 9, 2022 13:15:53 GMT
You might not be aware, but AC shares on Seedrs secondary market are currently suspended due to forthcoming corporate actions.
Could be either another investment round, Aros Kapital or someone else taking an equity stake, or maybe even a complete buyout.
So you never know, maybe they'll do a Zopa and the acquirer will suck it up and buyout all the zombie accounts and loans? Here's hoping...
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ton27
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Post by ton27 on Feb 9, 2022 17:01:07 GMT
Another good example of AC maximising their returns whilst lenders suffer. #528 recently repaid leaving lenders with a small capital loss - £80k on £1.8M on a loan with a 46% LTGDV and PGs for 10%; however lenders also had a loss of interest of £400k whilst AC recovered c£100k in monitoring fees + a £36k arrangement fee.
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ganymede
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Post by ganymede on Feb 10, 2022 15:44:55 GMT
Another good example of AC maximising their returns whilst lenders suffer. #528 recently repaid leaving lenders with a small capital loss - £80k on £1.8M on a loan with a 46% LTGDV and PGs for 10%; however lenders also had a loss of interest of £400k whilst AC recovered c£100k in monitoring fees + a £36k arrangement fee. I've just looked and have result of #528 in my cash account today. I've made the withdrawal ASAP, leaves me less than £25 in AC down from at one point over £30k. Can't be too concerned about the losses overall getting out capital is the first priority, then with something to show for the years of using AC. Still hope to see something back from what's remaining. Main thing, got out well ahead with a trifle left behind, and little intention of returning to AC in it's current state.
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mogish
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Post by mogish on Feb 10, 2022 16:07:19 GMT
Still £310 with AC. £220 with LW.
£200 odd W&co.
Funny how I dont feel so bitter about losses on S&S than I do with P2P.
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ashtondav
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Post by ashtondav on Feb 10, 2022 17:46:04 GMT
Yes it is funny. Losses on equities can dwarf losses on most p2p platforms. Of course you don’t get the same upside but you certainly don’t get the same downside.
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jonno
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nil satis nisi optimum
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Post by jonno on Feb 10, 2022 18:45:46 GMT
Still £310 with AC. £220 with LW. £200 odd W&co. Funny how I dont feel so bitter about losses on S&S than I do with P2P. I think it's because you don't have the same feeling that some thieving bastard has stolen it from you 
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Post by overthehill on Feb 10, 2022 19:29:14 GMT
Still £310 with AC. £220 with LW. £200 odd W&co. Funny how I dont feel so bitter about losses on S&S than I do with P2P. I think it's because you don't have the same feeling that some thieving bastard has stolen it from you 
Many Neil Woodford investors might disagree!
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mogish
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Post by mogish on Feb 10, 2022 21:28:15 GMT
Still £310 with AC. £220 with LW. £200 odd W&co. Funny how I dont feel so bitter about losses on S&S than I do with P2P. I think it's because you don't have the same feeling that some thieving bastard has stolen it from you Exactly. Ac are no angels but the other 2 i mentioned have no morals at all. Outright theft of investors cash imho. Ive prob not lost overall with p2p , just feel very bitter about how some platforms have operated but luckily never experienced the major losses of some who were involved with Lendy, mini bonds , london and whatever the were called etc etc
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