tjtl
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Post by tjtl on Dec 22, 2021 13:38:35 GMT
Some small dribbles of money have been credited in the last hour- both for property mini-bonds and P2P- seems to be about 10% of expected amount- wait and see if more follows
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tjtl
Posts: 232
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Post by tjtl on Dec 22, 2021 13:46:00 GMT
Some small dribbles of money have been credited in the last hour- both for property mini-bonds and P2P- seems to be about 10% of expected amount- wait and see if more follows Amounts in vary from 25% of expected balance, down to 1.4% of expected balance- overall it works out for me at 11%. I hope that this is the start, and not the end, of cash coming in over the next days. Fingers crossed- and still no email
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tjtl
Posts: 232
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Post by tjtl on Dec 22, 2021 13:48:59 GMT
Some small dribbles of money have been credited in the last hour- both for property mini-bonds and P2P- seems to be about 10% of expected amount- wait and see if more follows Amounts in vary from 25% of expected balance, down to 1.4% of expected balance- overall it works out for me at 11%. I hope that this is the start, and not the end, of cash coming in over the next days. Fingers crossed- and still no email Perhaps interestingly where the December 16 payments were described as CVA payments, these are described as LBS payments (your guess is as good as mine)
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mogish
Member of DD Central
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Post by mogish on Dec 22, 2021 15:27:31 GMT
Just checked... 23% of total expected sum. I hope the balance is paid by end if month latest.
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mogish
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Post by mogish on Dec 22, 2021 15:44:01 GMT
"Interest payments are not gauranteed ", I missed that statement. Does anyone know what steps we can take should the full payment not be recieved by end of December?
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mogish
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Post by mogish on Dec 22, 2021 16:57:16 GMT
Why would graham wellesley be reappointed as a director on 21 dec 2021?
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tjtl
Posts: 232
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Post by tjtl on Dec 22, 2021 17:17:17 GMT
Why would graham wellesley be reappointed as a director on 21 dec 2021? Hadn't seen that- if the restructured entity was going tits up I would have expected him to head for the hills. maybe a tiny bit of positivity if he is still hanging around. Struggling to understand the payments that were made today- some at 25% of expected balances, some at 1.4%- appears no rhyme or reason. We are, once again, stuck waiting for news- see if tomorrow brings another batch of payments- would be much happier if I knew today's wasn't it (even if the payments are staggered over the next 5 working days) They are particularly useless at communication.
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mogish
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Post by mogish on Dec 22, 2021 20:50:13 GMT
Apparently the balance will be paid in Feb 22. They must need the outstanding 75% to but another luxury villa for rhe wifes xmas.
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Esmeralda
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Post by Esmeralda on Dec 22, 2021 21:14:45 GMT
Only 1/4 of my P2P expected payment in my holding account tonight. Email received at 8pm Further payments will be made by 28 February 2022. "The Loan Book Sale agreements allow for repayment to occur 60 days from the specified payment dates and therefore please note that provided full repayment is made by the end of February 2022, no events of default will have occurred".
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elsee
Member of DD Central
Retired:D
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Post by elsee on Dec 22, 2021 22:43:21 GMT
"Cloverleaf has paid 25% of the amount due in December 2021, which is available in your holding account now to withdraw, the remaining 75% will be paid in full by 28 February 2022. The Loan Book Sale agreements allow for repayment to occur 60 days from the specified payment dates and therefore please note that provided full repayment is made by the end of February 2022, no events of default will have occurred" Great :/
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Post by belladog on Dec 22, 2021 23:38:10 GMT
And so it goes on sws
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2boi
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Post by 2boi on Dec 22, 2021 23:38:38 GMT
I received 28% today of what I was expecting this month. Typical Wellesley - drawing up a payment plan but inserting small print that allows them to delay 60 days on each payment without being in default.
Incidentally their email says they are paying 25% but they have paid a small extra amount called "WF CVA Contingent Creditor payment for P2P" which is not in my payment plan. This accounts for the payment being 28% not 25% of the planned amount. Anyone know what that is about? The main amount is called "December 2021 LBS payment for xxxxxxxx" and that is 25% of the planned amount.
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tjtl
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Post by tjtl on Dec 23, 2021 7:48:47 GMT
Utterly tedious.
At least the language in the email was robust- the monies WILL be paid by the 28th February- no caveat of "circumstances permitting" (though of course they can continue with their impeccable track-record of disappointing).
In all in December across all my holdings I got back circa £18k of my "expected" £26k, - £8k to come (we hope) in February- I think I doubted I would get anything back to I am not as pissed off as I should be! I am one of those idiots who had some of the 7 year bonds, so have a further £5k to collect half in 2024 and half in 2025- I would put slight odds on ever seeing that.
Anyway, no point looking at Wellesley till next year- taken all the cash out that i can- now focus on other more important matters (like family and Christmas)
Best regards and seasons greetings to all other Wellesley sufferers.
There is more to life that Wellesley
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mah
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Post by mah on Dec 29, 2021 19:09:12 GMT
I received 28% today of what I was expecting this month. Typical Wellesley - drawing up a payment plan but inserting small print that allows them to delay 60 days on each payment without being in default. Incidentally their email says they are paying 25% but they have paid a small extra amount called "WF CVA Contingent Creditor payment for P2P" which is not in my payment plan. This accounts for the payment being 28% not 25% of the planned amount. Anyone know what that is about? The main amount is called "December 2021 LBS payment for xxxxxxxx" and that is 25% of the planned amount. The extra £1 is for 'Payment towards Contingent Creditor (P2P)' as per CVA. P2P Investors were treated as Contingent Creditors for £1 for Voting. Not sure if/what any other extra amount you received.
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mah
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Post by mah on Dec 29, 2021 19:27:11 GMT
"Interest payments are not gauranteed ", I missed that statement. Does anyone know what steps we can take should the full payment not be recieved by end of December? If you have not already done the following, please do the following :
1) Complain to Financial Ombudsman re Wellesley and the non Payment of the Promised Dec 2021 payment - they are considering a response (since long though).
2) Also, please raise a Complaint against FCA re Wellesley (those who already did this, pls send an addendum mentioning the non Payment of the Promised Dec 2021 payment).
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