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Post by overthehill on Jan 6, 2022 14:07:50 GMT
I don't think we'll be seeing this borrower again after the oustanding loans are repaid. Proplend communications are also stretching out, the frequency is getting so low the updates have redshifted. I think it is nearly 4 months since the last update of a supposed firm refinance offer from a well known bank.
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scooter
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Post by scooter on Jan 6, 2022 15:22:11 GMT
Hi, they slipped a comment in on one of the Interest repayment messages (Nov I think). I won't repost it, no point poking the beast. Expected to be repaid end February early March was the comment made to me this week. Not sure which year though...  |
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bababill
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Post by bababill on Jan 6, 2022 23:10:55 GMT
They changed some of their company names late last year for some reason.
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eeyore
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Post by eeyore on Apr 14, 2022 17:17:54 GMT
The borrower, originally due to repay in Aug-2021, has repaid £352.94 (leaving £647.06) per £1000 of the TrancheA loan today. Proplend is negotiating a refinance.
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eeyore
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Post by eeyore on Jun 15, 2022 12:25:26 GMT
Funds credited to the cash account today: PLL0903 - New*** Offices - TrancheA - Penalty Interest 355 Days £34.51
Maybe there's been some progress with the refinancing of this partially-repaid but long overdue loan (either with Proplend or otherwise)?
UPDATE: This element of the repayment has now been deleted from the cash statement. See below.
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scooter
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Post by scooter on Jun 15, 2022 12:34:57 GMT
Paid tranche C as well. Now I can reinvest the money at half the interest rate.
I hope they are not refinancing thru PL cause if there's one thing I've learned, it's never to invest in a loan with Newb*** in the title.
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eeyore
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Post by eeyore on Jun 15, 2022 13:16:37 GMT
PLL0903 New*** Offices has repaid today!
Principal and another 61 days of Penalty Interest have been credited to our accounts.
Looks like the loan won't be refinanced by another Proplend loan...
But don't try to withdraw the funds - it just fails and logs you out!
UPDATE [15:15]: Sometimes I despair of Proplend's basic book-keeping! They seem to think that the "Lender Statement" displayed to the lender on the website is just a scratch pad for Proplend to make temporary entries, then change or delete them, or do whatever needs to be done, until they find that it doesn't balance and so Proplend locks it and tries again and again.
The initial payment for 355 days of penalty interest for this loan which appeared in the statement sometime before 13:00 and remained there whilst the entries for the repayment of the principal and for 61 days of penalty interest appeared, has now been deleted.
UPDATE2 [15:30]: I don't believe it! It's now reappeared but for 325 days of penalty (plus the earlier 61 days).
The cash account credit entries for a £1000 TrancheA loan are now (@15:38):
Principal paid off: £647.06
Penalty interest for 61 days: £3.84
Penalty interest for 325 days: £31.60
Normally, I'd just leave it but I'm trying to make a withdrawal to be credited to my bank account by Friday, so it needs to be done today.
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Post by overthehill on Jun 15, 2022 20:59:37 GMT
Last of a group of choppy linked loans repaid in full. Well done to PL and the borrower for seeing it through. A reminder to think carefully about the merits of multiple loans with the same borrower though.
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