rogerthat
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Post by rogerthat on Jul 20, 2022 15:50:03 GMT
I wonder if anyone could help with regard to the last two emails from Admins regarding notification of the e/wallet account etc...I will try to be brief.
After the possible outcome of the Art Loans in particular around March of this year, and what appears to be final outcome of those loans, I stepped away from P2P altogether in an attempt to protect my sanity. Sadly, in the last few weeks a close relation has died and im now saddled (and that's what it's turning out to be) as next of kin and therefore his personal representative.
Do I understand correctly that the ewallet is the total of any available cash and any pending withdrawals (none) that were frozen and NOT the totals relating to investments that went tits up in October 2019.
If that is correct the total for both Main and IFISA = £3.94 so insignificant. However the investment + accrued is another matter. I'm too embarrassed to state it.
If I do not contact ebladon@boodlehatfield.com by 25th July will I negate any other legal claims/rights I have further down the line, if indeed any exist at all. ?
Apologies for airing my dirty linen in public but I'm short of options atm.
Please PM me if preferred..thanks.
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Post by overthehill on Jul 20, 2022 15:55:23 GMT
I wonder if anyone could help with regard to the last two emails from Admins regarding notification of the e/wallet account etc...I will try to be brief. After the possible outcome of the Art Loans in particular around March of this year, and what appears to be final outcome of those loans, I stepped away from P2P altogether in an attempt to protect my sanity. Sadly, in the last few weeks a close relation has died and im now saddled (and that's what it's turning out to be) as next of kin and therefore his personal representative. Do I understand correctly that the ewallet is the total of any available cash and any pending withdrawals (none) that were frozen and NOT the totals relating to investments that went tits up in October 2019. If that is correct the total for both Main and IFISA = £3.94 so insignificant. However the investment + accrued is another matter. I'm too embarrassed to state it. If I do not contact ebladon@boodlehatfield.com by 25th July will I negate any other legal claims/rights I have further down the line, if indeed any exist at all. ? Apologies for airing my dirty linen in public but I'm short of options atm. Please PM me if preferred..thanks. ewallet is the total of any available cash and any pending withdrawals. Does not include other investments or money in other accounts yet to be paid to investor.
I doubt they have a legal claim to be disadvantaged ! I would just send them an email stating that you want details of the claim, there is no obligation to provide any more information. They have your email address and can confirm that with the administrators if they should wish.
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adrian77
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Post by adrian77 on Jul 20, 2022 21:21:45 GMT
As a matter of interest has anybody had a reply from Boodle Hatfield - I sure haven't...
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investibod
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Post by investibod on Jul 20, 2022 21:35:04 GMT
As a matter of interest has anybody had a reply from Boodle Hatfield - I sure haven't... Not expecting any reply until August, or at least until after 25 July. My bold.
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bugs4me
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Post by bugs4me on Jul 21, 2022 7:25:11 GMT
I wonder if anyone could help with regard to the last two emails from Admins regarding notification of the e/wallet account etc...I will try to be brief. After the possible outcome of the Art Loans in particular around March of this year, and what appears to be final outcome of those loans, I stepped away from P2P altogether in an attempt to protect my sanity. Sadly, in the last few weeks a close relation has died and im now saddled (and that's what it's turning out to be) as next of kin and therefore his personal representative. Do I understand correctly that the ewallet is the total of any available cash and any pending withdrawals (none) that were frozen and NOT the totals relating to investments that went tits up in October 2019. If that is correct the total for both Main and IFISA = £3.94 so insignificant. However the investment + accrued is another matter. I'm too embarrassed to state it. If I do not contact ebladon@boodlehatfield.com by 25th July will I negate any other legal claims/rights I have further down the line, if indeed any exist at all. ? Apologies for airing my dirty linen in public but I'm short of options atm. Please PM me if preferred..thanks. I really think you need professional legal advice on this although whether financially it is worth it only you can make that decision. I, like many others, have walked away from P2P and mentally written off any returns that may occur although it will in reality only be a couple of pennies in the pound. Whenever I read an updated administrators report which sometimes includes administrators fees, it's a total disgrace as to how many other costs have been conveniently deducted - legal advice, court fees, third party consultations, surveyors, etc, etc. You could be forgiven for thinking it's a friends feeding pot. Hence whether we receive any future returns from recoveries I have my doubts as that 'financial feeding frenzy' will only cease when those funds, rightfully and certainly morally due to lenders start to dry up. So it must be a personal 'calculation' as whether you throw further time and money at the project and only you can make it. I've worked with administrators in the past a couple of times and they are vultures - all totally legal but nonetheless a total injustice. Some folks talk optimistically in my view about receiving 30p in the pound. I personally doubt it. Anyway, just my tuppence worth and excuse any typo's as in a rush but good luck with any decision you make.
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r1200gs
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Post by r1200gs on Jul 21, 2022 12:31:22 GMT
I wonder if anyone could help with regard to the last two emails from Admins regarding notification of the e/wallet account etc...I will try to be brief. After the possible outcome of the Art Loans in particular around March of this year, and what appears to be final outcome of those loans, I stepped away from P2P altogether in an attempt to protect my sanity. Sadly, in the last few weeks a close relation has died and im now saddled (and that's what it's turning out to be) as next of kin and therefore his personal representative. Do I understand correctly that the ewallet is the total of any available cash and any pending withdrawals (none) that were frozen and NOT the totals relating to investments that went tits up in October 2019. If that is correct the total for both Main and IFISA = £3.94 so insignificant. However the investment + accrued is another matter. I'm too embarrassed to state it. If I do not contact ebladon@boodlehatfield.com by 25th July will I negate any other legal claims/rights I have further down the line, if indeed any exist at all. ? Apologies for airing my dirty linen in public but I'm short of options atm. Please PM me if preferred..thanks. ewallet is the total of any available cash and any pending withdrawals. Does not include other investments or money in other accounts yet to be paid to investor.
I doubt they have a legal claim to be disadvantaged ! I would just send them an email stating that you want details of the claim, there is no obligation to provide any more information. They have your email address and can confirm that with the administrators if they should wish.
Apologies to Rogerthat, I promise not to hijack this thread any further but does this mean that the recovery from the first charge on the tower block, which is full capital and interest is safe from this claim for the moment? It's not showing as cash and I never even got a chance to try and withdraw it. In fact the investment is still showing on my account with no evidence that it was ever repaid. Where the heck is it? Anyone? Sorry Rogerthat, I won't add any more.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 21, 2022 12:51:18 GMT
ewallet is the total of any available cash and any pending withdrawals. Does not include other investments or money in other accounts yet to be paid to investor.
I doubt they have a legal claim to be disadvantaged ! I would just send them an email stating that you want details of the claim, there is no obligation to provide any more information. They have your email address and can confirm that with the administrators if they should wish.
Apologies to Rogerthat, I promise not to hijack this thread any further but does this mean that the recovery from the first charge on the tower block, which is full capital and interest is safe from this claim for the moment? It's not showing as cash and I never even got a chance to try and withdraw it. In fact the investment is still showing on my account with no evidence that it was ever repaid. Where the heck is it? Anyone? Sorry Rogerthat, I won't add any more. The loan hasnt had any funds paid out to lenders. Its one of the 3 loans with recoveries held in a separate suspense account, sort of isolated from the administration, because there was an legal challenge to the recovery. (You can see them at the bottom of the admin accounts in the report) The last report suggested one of those challenges had been resolved but didnt say which or if the funds had been moved from the separate account. Anyway AIUI undistributed recovered funds are held in a separate trust account to protect them from the claim against the client account.
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Post by overthehill on Jul 21, 2022 12:58:45 GMT
ewallet is the total of any available cash and any pending withdrawals. Does not include other investments or money in other accounts yet to be paid to investor.
I doubt they have a legal claim to be disadvantaged ! I would just send them an email stating that you want details of the claim, there is no obligation to provide any more information. They have your email address and can confirm that with the administrators if they should wish.
Apologies to Rogerthat, I promise not to hijack this thread any further but does this mean that the recovery from the first charge on the tower block, which is full capital and interest is safe from this claim for the moment? It's not showing as cash and I never even got a chance to try and withdraw it. In fact the investment is still showing on my account with no evidence that it was ever repaid. Where the heck is it? Anyone? Sorry Rogerthat, I won't add any more.
All money from full or partial recoveries, held up and unpaid for whatever reasons, is sitting in other bank accounts, not the e-wallet account, they are all listed in the half year reports.
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henryjford
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Post by henryjford on Jul 24, 2022 20:23:13 GMT
Hi what is this - I have over £10k lost in art loans am I supposed to do something ie contact this boodle firm? Many thanks….
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Post by overthehill on Jul 25, 2022 10:11:44 GMT
Hi what is this - I have over £10k lost in art loans am I supposed to do something ie contact this boodle firm? Many thanks…. It's up to you but I would only provide your name and email address (automatic) as these lawyers work for the claimant.
We've been told by the Administrators that the claim is limited to the e-wallet account (cash + pending withdrawals). All the unrecovered loans and frozen cash from recovered loans are out of scope.
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rocky1
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Post by rocky1 on Jul 25, 2022 11:42:15 GMT
would there be over £500k in the e wallets ? i have got £1.55 in mine.the rest of my money just seems to be dwindling down by the thousands as loans were written off with huge losses. just playing it by ear now for the rest as nothing i can do or say will change the outcomes and have mentally wrote FS off and moved on.P2P where your money once lent becomes many other peoples money who will pull every trick in the book to part it from you.
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Post by overthehill on Jul 25, 2022 12:01:26 GMT
would there be over £500k in the e wallets ? i have got £1.55 in mine.the rest of my money just seems to be dwindling down by the thousands as loans were written off with huge losses. just playing it by ear now for the rest as nothing i can do or say will change the outcomes and have mentally wrote FS off and moved on.P2P where your money once lent becomes many other peoples money who will pull every trick in the book to part it from you.
When you see how much the administrators are getting paid and they send out a mickey mouse pdf file which is basically a huge image which prevents you from copying/pasting or searching to save time, it's pathetic.
Now to the question, it looks like ~800k believe it or not but who does it belong to ? Normal investors, deceased investors , claimant ?
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aj
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Post by aj on Jul 26, 2022 7:17:20 GMT
I'm in the unfortunate position of one of my bigger loans (B*r*sford Road, Wirral) repaying full capital/partial interest just before this vexatious claim on my funds. I was waiting for weeks for my ISA transfer out to be processed then it was cancelled. This was a £414K recovery, anyone trying to keep their funds in the ISA wrapper will be in the same boat as me.
My funds were returned from the borrower in early 2021, apparently someone gullible enough to lend FS money back in 2019 when they were on their last legs thinks they should have a claim to it due to some vague idea of 'cross-contamination' as it touched the same bank account.
I am not a lawyer, but I suspect when FS went into administration (2019) there was a 'pooling event' for said client account (https://www.handbook.fca.org.uk/handbook/CASS/7A/2.html?date=2014-12-01) and this fellow is entitled to either his share of funds available at that time or the first 500K of funds available at that time (if the Quistclose is valid).
I had an ewallet balance of £0.00 at the time of the pooling event; this guy is looking for a 'second bite of the cherry'.
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taffy
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Post by taffy on Jul 26, 2022 10:32:27 GMT
As a matter of interest has anybody had a reply from Boodle Hatfield - I sure haven't... I contacted Boodle Hatfield by email on the 12 July, not giving away much information but requesting some. "I am writing to request a copy of the Particulars of the Quistclose Trust claim in order to try to understand what, if any impact this may have on outstanding funds and investments (excuse the term) still held by the Administrators of Funding Secure". Two weeks later, not even an acknowledgement let alone a reply. Has anyone had better luck?
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Post by overthehill on Jul 26, 2022 11:01:54 GMT
As a matter of interest has anybody had a reply from Boodle Hatfield - I sure haven't... I contacted Boodle Hatfield by email on the 12 July, not giving away much information but requesting some. "I am writing to request a copy of the Particulars of the Quistclose Trust claim in order to try to understand what, if any impact this may have on outstanding funds and investments (excuse the term) still held by the Administrators of Funding Secure". Two weeks later, not even an acknowledgement let alone a reply. Has anyone had better luck? No later than 08aug2022.
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