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Post by bob2010 on Mar 21, 2023 20:09:21 GMT
I can see from the manual loan breakdown that investors have votes on defaulted loans, for example, whether to grant the borrower an extension or increase the loan amount.
Is still the case now that it's in 'run off'? If so do Access Account holders have a vote as well seeing as their cash is also locked away in those investments?
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p2pfan
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Full-Time Investor
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Post by p2pfan on Mar 22, 2023 9:31:33 GMT
Yes, those votes continue for Manual Investing in specific loans.
No, Access Account holders are not allowed to vote.
The votes are and always have been meaningless anyway, because AC heavily stacks the votes to go in one direction, pushing one option to be the 'default' one, and therefore the results of the votes are almost always what AC wants.
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Post by jevans4949 on Mar 22, 2023 12:22:27 GMT
We just had a vote this morning on extending one loan for 3 months. Although this means my money is tied up for longer, at least we should get the benefit if the borrower keeps paying eventually.
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Post by bob2010 on Mar 22, 2023 12:55:34 GMT
We just had a vote this morning on extending one loan for 3 months. Although this means my money is tied up for longer, at least we should get the benefit if the borrower keeps paying eventually. I'm quite surprised that access account holders don't have a say as we are now in exactly the same position as other investors.
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mogish
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Post by mogish on Mar 22, 2023 15:30:37 GMT
Presume the Scottish castle and the Greek bloke loans are totally unlikely to recieve any more funds?
Just over 300 quid left in defaults, looks like this will all be written off at some point.
Gets to the stage u cant be bothered logging in to see the same 1p available!
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ilmoro
Member of DD Central
'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 Mar 22, 2023 19:37:02 GMT
We just had a vote this morning on extending one loan for 3 months. Although this means my money is tied up for longer, at least we should get the benefit if the borrower keeps paying eventually. I'm quite surprised that access account holders don't have a say as we are now in exactly the same position as other investors. Not yet. They dont get a vote because they are covered by the PF so on paper will get their funds back regardless so it would be unfair if they could vote for a course of action that only effects MLA investors. Once the PFs are exhausted (which seems increasingly likely given they are not being replenished due to the fee) then that is probably something AC will need to change.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,840
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Post by ilmoro on Mar 22, 2023 19:38:57 GMT
Presume the Scottish castle and the Greek bloke loans are totally unlikely to recieve any more funds? Just over 300 quid left in defaults, looks like this will all be written off at some point. Gets to the stage u cant be bothered logging in to see the same 1p available! Greek bloke no, Scottish castle still due the funds from the overage agreement in theory (Unfortunately as the loan is no longer on the AE platform harder to keep track of)
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Post by df on Mar 22, 2023 19:55:38 GMT
Presume the Scottish castle and the Greek bloke loans are totally unlikely to recieve any more funds? Just over 300 quid left in defaults, looks like this will all be written off at some point. Gets to the stage u cant be bothered logging in to see the same 1p available! The same here. I login once a week to see if there's enough to bother requesting a withdrawal. Looks from today's update that they might introduce automatic withdrawal, presumably similar to Lending works??? "In the medium term, we are looking to define a process which allows Assetz Capital to distribute cash balances on lenders' accounts to their verified bank account regularly, so a lender does not need to log on to make a withdrawal. We will provide further details in the next lender update."
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Post by peely999 on Mar 23, 2023 10:42:42 GMT
Presume the Scottish castle and the Greek bloke loans are totally unlikely to recieve any more funds? Just over 300 quid left in defaults, looks like this will all be written off at some point. Gets to the stage u cant be bothered logging in to see the same 1p available! The same here. I login once a week to see if there's enough to bother requesting a withdrawal. Looks from today's update that they might introduce automatic withdrawal, presumably similar to Lending works??? "In the medium term, we are looking to define a process which allows Assetz Capital to distribute cash balances on lenders' accounts to their verified bank account regularly, so a lender does not need to log on to make a withdrawal.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Likes: 11,068
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Post by ilmoro on Mar 23, 2023 16:18:33 GMT
The same here. I login once a week to see if there's enough to bother requesting a withdrawal. Looks from today's update that they might introduce automatic withdrawal, presumably similar to Lending works??? "In the medium term, we are looking to define a process which allows Assetz Capital to distribute cash balances on lenders' accounts to their verified bank account regularly, so a lender does not need to log on to make a withdrawal. We will provide further details in the next lender update." ...........And when might that be, 1 week, 1 month, 3 months 6 months? I feel March 2023 Quarterly Bulletin might give a hint 
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