ptr120
Member of DD Central
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Post by ptr120 on May 23, 2022 19:48:37 GMT
Why do people think this loan is struggling to attract lenders? It is always the last part of such loans that are hardest to fill. There will be some who will invest in more or less anything on the platform, even if it is only cash they have sitting on the platform (and I used to keep some). There will also always be some who think the last loan went ok, so so will this one (I thought that about a container loan once), or perhaps they have heard of the borrower, or know the area. There is also the incentive of instant returns, which means that if you are going to lend, you may as well do so early - this again shakes out loose cash in the early in the loan listing process. Now, once you've got past that point, if the loan hasn't filled, you need new money on the platform from people who are not concerned about the lack of SM, who don't worry about poor comms from the platform, employees and directors leaving the platform, and who have confidence that the platform have the balls to call in the security if when needed (history shows that they don't). If you are still considering an investment after all that, you may also ask yourself if, on a risk / reward basis, this is a good bet, when cash pays more than it has for the last 5 years, corporate bonds in some sectors are looking attractive, and the UK and elsewhere may be on the edge of recession / stagflation etc.
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Post by df on May 23, 2022 20:24:17 GMT
33% filled in 5.5 hours. A further 6% filled in the following 48 hours. For comparison #175's £500,000 from P1 was snapped up in 5 days about a month ago. On 44% funded of the £500k now. Why do people think this loan is struggling to attract lenders? AFs crisis and SM is closed.
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markyg61
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Post by markyg61 on May 30, 2022 9:11:36 GMT
Looks like they've had to reduce the amount to £280K from the original £500K to get it over the line ! If they got their act together and communicated honestly and more frequently (cant get any more infrequent than never !) they might have attracted more funds.
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Balder
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Post by Balder on May 30, 2022 12:21:01 GMT
and emails to the info box go unanswered and Phil has left with no explanation
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GreenZero
Member of DD Central
The early bird may get the worm, but it's the second mouse who gets the cheese
Posts: 221
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Post by GreenZero on May 31, 2022 12:33:03 GMT
Looks like they've had to reduce the amount to £280K from the original £500K to get it over the line ! If they got their act together and communicated honestly and more frequently (cant get any more infrequent than never !) they might have attracted more funds.
They were very lucky to get that. Whilst we talk about the number of non-paying loans and the lack of communication, it does seems to be more widespread. Their website for example, the last Press Article is March 21, the latest News Article is April 21 and the About Page obviously outdated. More concerning is their Loan Exchange page, advertised as having state of the art technology rather than being No Longer Available. I could go on, but you get the picture. If this was a garden the grass would be up to your knees with weeds everywhere hiding a rusting wheelbarrow. Their Twitter and Facebook Socials are no better. I think Natalie Cowley is spending too much time in airplanes than on her role as abl's PR and Marketing Manager.
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Post by overthehill on May 31, 2022 12:56:17 GMT
Try stopping a gambler from gambling. Some people are just determined to throw good money after bad.
Give me one or multiple reasons why I would invest £1 more in any loan? It's not even about risk/reward any more, it's plain as day, pick a loan any loan and it's likely to be a doughnut. It's all talk -or all no talk- and no action just to keep the wheels spinning and keep the next loan viable.
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Post by df on May 31, 2022 20:07:09 GMT
Try stopping a gambler from gambling. Some people are just determined to throw good money after bad.
Give me one or multiple reasons why I would invest £1 more in any loan? It's not even about risk/reward any more, it's plain as day, pick a loan any loan and it's likely to be a doughnut. It's all talk -or all no talk- and no action just to keep the wheels spinning and keep the next loan viable.
Yes, investing in new loans on ABL at current climate is much closer to "gambling" than "investing". It's good that some people can afford to gamble - helps ABL keeping afloat. The last thing we want is the horror of "in administration".
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Post by Ace on May 31, 2022 20:22:36 GMT
Try stopping a gambler from gambling. Some people are just determined to throw good money after bad.
Give me one or multiple reasons why I would invest £1 more in any loan? It's not even about risk/reward any more, it's plain as day, pick a loan any loan and it's likely to be a doughnut. It's all talk -or all no talk- and no action just to keep the wheels spinning and keep the next loan viable.
Yes, investing in new loans on ABL at current climate is much closer to "gambling" than "investing". It's good that some people can afford to gamble - helps ABL keeping afloat. The last thing we want is the horror of "in administration". I thought that the perceived general wisdom was that one shouldn't invest unless one can afford to gamble! Usually more succinctly put as "don't invest what you can't afford to lose".
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Post by overthehill on May 31, 2022 20:31:10 GMT
Yes, investing in new loans on ABL at current climate is much closer to "gambling" than "investing". It's good that some people can afford to gamble - helps ABL keeping afloat. The last thing we want is the horror of "in administration". I thought that the perceived general wisdom was that one shouldn't invest unless one can afford to gamble! Usually more succinctly put as "don't invest what you can't afford to lose".
Gambling £500 on ablrate isn't as much fun as gambling £500 on Leeds United to stay up!
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TitoPuente
Member of DD Central
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Post by TitoPuente on Sept 30, 2022 8:27:51 GMT
This one should repay today.
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Post by Badly Drawn Stickman on Sept 30, 2022 8:46:45 GMT
This one should repay today. Given the one currently paying down in instalments I suspect a slight delay is quite possible. That to date they all have eventually repaid is fairly reassuring. Edit, in truth it may be a good thing if it is a few days late. touch of extra interest and it would not be despatched to us today even if it did repay.
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Post by ladywhitenap on Sept 30, 2022 9:10:50 GMT
Yesterdays admin note said repayment would be with ABL by close of play today. I suspect there is a chance we will see our funds today but more likely on Monday.
Pee-One have been highly reliable and a shame that they will not be able to use ABL to raise funds in future. Does anyone know if they are using/planning to use another P2P platform to raise funds?
LW
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Post by Ace on Sept 30, 2022 9:15:28 GMT
This one should repay today. Given the one currently paying down in instalments I suspect a slight delay is quite possible. That to date they all have eventually repaid is fairly reassuring. Edit, in truth it may be a good thing if it is a few days late. touch of extra interest and it would not be despatched to us today even if it did repay. Remaining capital for #175 has been promised for today, and interest for another of their loans was paid yesterday on time, so there's hope that this one might repay on time. Not sure about extra interest. None was paid for the 1 day late second installment for #175. Not worth bothering about in the sceme of things IMO. I'm just glad to get my outstanding ABLrate balance reduced. EDIT: Crossed with LW above.
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Post by Badly Drawn Stickman on Sept 30, 2022 9:25:57 GMT
Given the one currently paying down in instalments I suspect a slight delay is quite possible. That to date they all have eventually repaid is fairly reassuring. Edit, in truth it may be a good thing if it is a few days late. touch of extra interest and it would not be despatched to us today even if it did repay. Remaining capital for #175 has been promised for today, and interest for another of their loans was paid yesterday on time, so there's hope that this one might repay on time. Not sure about extra interest. None was paid for the 1 day late second installment for #175. Not worth bothering about in the sceme of things IMO. I'm just glad to get my outstanding ABLrate balance reduced. EDIT: Crossed with LW above. I think technically the funds arrived on the due date, just were not distributed till the following day. So arguably no additional interest was due on that.
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brianlom1
Member of DD Central
He's not the Messiah, he's a very naughty boy!
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Post by brianlom1 on Sept 30, 2022 19:14:12 GMT
Yesterdays admin note said repayment would be with ABL by close of play today. I suspect there is a chance we will see our funds today but more likely on Monday. Pee-One have been highly reliable and a shame that they will not be able to use ABL to raise funds in future. Does anyone know if they are using/planning to use another P2P platform to raise funds? LW I asked the same question a couple of weeks' ago and was sent the following link: www.p1capital.co.uk/how-we-work
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