deltron
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Post by deltron on Apr 1, 2022 15:47:41 GMT
Has anyone else noticed Ablrate's email responses becoming more half-arsed recently? They used to use paragraphs and recently I've noticed they use bullet-points with one line answers.
The most revealing response I received today was when I asked for an update on a development that was set to commence in June 2019. There has been no information on the development for almost 3 years. Their response in full: "We do not have any further information on the underlying development project at H***** R*** at this time."
That's it. They have no information regarding the primary security for the loan. And they said nothing about attempting to find out either. That's pretty poor, isn't it?
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hubert
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Post by hubert on Apr 1, 2022 16:05:41 GMT
Has anyone else noticed Ablrate's email responses becoming more half-arsed recently? They used to use paragraphs and recently I've noticed they use bullet-points with one line answers.
The most revealing response I received today was when I asked for an update on a development that was set to commence in June 2019. There has been no information on the development for almost 3 years. Their response in full: "We do not have any further information on the underlying development project at H***** R*** at this time."
That's it. They have no information regarding the primary security for the loan. And they said nothing about attempting to find out either. That's pretty poor, isn't it? Which loan number does this one have. Edit. Got it. 1000074 Google earth shows a recent rectangular excavation to the rear. But understand your point.
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Post by Badly Drawn Stickman on Apr 1, 2022 18:38:19 GMT
Has anyone else noticed Ablrate's email responses becoming more half-arsed recently? They used to use paragraphs and recently I've noticed they use bullet-points with one line answers.
The most revealing response I received today was when I asked for an update on a development that was set to commence in June 2019. There has been no information on the development for almost 3 years. Their response in full: "We do not have any further information on the underlying development project at H***** R*** at this time."
That's it. They have no information regarding the primary security for the loan. And they said nothing about attempting to find out either. That's pretty poor, isn't it? Which loan number does this one have. Edit. Got it. 1000074 Google earth shows a recent rectangular excavation to the rear. But understand your point. That may well be a mass grave for investors hopes and dreams. In its defence this was never a development loan more a short term 'bridge like thing' that has hung around a lot longer than anyone expected. Arguably one of the better assets in relative terms....
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withnell
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Post by withnell on Apr 1, 2022 18:42:35 GMT
Has anyone else noticed Ablrate's email responses becoming more half-arsed recently? They used to use paragraphs and recently I've noticed they use bullet-points with one line answers.
The most revealing response I received today was when I asked for an update on a development that was set to commence in June 2019. There has been no information on the development for almost 3 years. Their response in full: "We do not have any further information on the underlying development project at H***** R*** at this time."
That's it. They have no information regarding the primary security for the loan. And they said nothing about attempting to find out either. That's pretty poor, isn't it? I get the wish to have further information, but given that this loan is up to date what level of update would you expect them to be getting? If they're not asking for further development funds there's not really any obligation on the borrower to provide anything more than payments
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deltron
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Post by deltron on Apr 5, 2022 5:31:07 GMT
Well, the lack of curiosity is the main thing, I suppose. I didn't expect a blow-by-blow account since the last addendum in June 2019, but again, it is the primary security for the loan, for which there has been no information at all for almost 3 years. Nothing. Nada. Zip. So I asked where we currently stand with it and Ablrate said, in effect - "We know nothing".
And that's the matter dealt with as far as they're concerned. Which raised my eyebrows.
It's a valid question. Couldn't they pick up a phone and find out?
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ptr120
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Post by ptr120 on Apr 19, 2022 14:10:08 GMT
By coincidence, there is a CH update today that a certain employee and director who often used to take care of these things is no longer a director. Of course, he may still be an employee, but I wonder why he has resigned the directorship if that is the case.
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Balder
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Post by Balder on Apr 20, 2022 14:58:44 GMT
Same person now freelance since March on Linkedin.
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ptr120
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Post by ptr120 on Jun 13, 2022 20:27:47 GMT
Things haven't got much better have they? It is awfully quiet around here - some would say this is a platform unofficially in rundown.
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markyg61
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Post by markyg61 on Jun 14, 2022 8:45:50 GMT
The silence is deafening, until they have a loan to fill and then we get some upbeat email about how its "jam tomorrow" ! If the loan exchange was available I'd be selling my lot asap
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blender
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Post by blender on Jun 14, 2022 8:56:23 GMT
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ptr120
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Post by ptr120 on Jun 14, 2022 18:27:41 GMT
It is almost beginning to make me wonder if the reason that the FCA wanted their secondary market switched off is because they have concerns about how long the platform will be around
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iRobot
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Post by iRobot on Jun 14, 2022 18:54:31 GMT
It is almost beginning to make me wonder if the reason that the FCA wanted their secondary market switched off is because they have concerns about how long the platform will be around With Collateral, the FCA permitted the platform to continue its' activities for months after they became aware of serious irregularities, allowing the platform to take in a reported £3.8M of additional Lenders' money. Is the FCA capable of learning from a previous mistake? (That is of course a rhetorical question. And even if it wasn't, the answer would have to be 'No' - in order to learn from a specific mistake, it first has to be acknowledged that one was made.)
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Post by Ace on Jun 14, 2022 19:24:11 GMT
It is almost beginning to make me wonder if the reason that the FCA wanted their secondary market switched off is because they have concerns about how long the platform will be around If that was the case then it wouldn't make sense that they were allowed to issue new loans on the primary market. Not that is worth trying to apply logic where the FCA are concerned.
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ptr120
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Post by ptr120 on Jun 14, 2022 19:46:08 GMT
Except that the last 3 loans are all short-term and are due to repay this year, so if I can demonstrate shareholder support until the end of the year (but not beyond) I can imagine why the last couple of loans could be written, but why I wasn't able to operate an exchange that offered loans that would go on for longer than that
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dave4
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Post by dave4 on Jun 14, 2022 19:51:30 GMT
<button disabled="" class="c-attachment-insert--linked o-btn--sm">Attachment Deleted</button> Made me drop my biscuit in me coffee !!!!!!.  Are y banksey?
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Are y banksey?