alender
Member of DD Central
Posts: 982 
Likes: 683
|
Post by alender on Mar 14, 2024 19:55:14 GMT
But the provision fund still exists which will cover some bad debt? True, but from past experience AC will take a long time after the default before the PF is used.
|
|
|
|
Post by bob2010 on Mar 18, 2024 13:10:32 GMT
|
|
dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,057
Likes: 617
|
Post by dave4 on Mar 18, 2024 13:21:21 GMT
90 days is 16 june 2024
|
|
|
|
Post by overthehill on Mar 18, 2024 14:08:03 GMT
AC always were such a generous company, stop complaining, the 1st withdrawal is free !
|
|
upland
Member of DD Central
Posts: 479
Likes: 175
|
Post by upland on Mar 18, 2024 15:00:08 GMT
I think that it is a miserable development. I made complaints when it was first mentioned. They are in effect using more lender capital for their own ends or exposing us to additional platform risk. We are only doing what they said to do some months ago.
|
|
|
|
Post by bob2010 on Mar 18, 2024 15:36:03 GMT
I think that it is a miserable development. I made complaints when it was first mentioned. They are in effect using more lender capital for their own ends or exposing us to additional platform risk. We are only doing what they said to do some months ago. Did they respond to your complaint?
|
|
upland
Member of DD Central
Posts: 479
Likes: 175
|
Post by upland on Mar 18, 2024 16:06:24 GMT
Indeed they did. I made it formal pointing out that we were doing what we were told and that there had ben no request from them to not withdraw so often. They are currently collecting the data. You would have thought that it was rocket science and they are just getting back to me etc. I shall make as much fuss as warrents. I have been pretty tolerant with their problems to now but this is just beyond sensible. I am starting to agree with others that Assetz is not my favourite. I feel that they are just using loyal lenders money to further their own plans unreasonably. Still they are not the first.
|
|
dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,057
Likes: 617
|
Post by dave4 on Mar 18, 2024 16:07:38 GMT
I think that it is a miserable development. I made complaints when it was first mentioned. They are in effect using more lender capital for their own ends or exposing us to additional platform risk. We are only doing what they said to do some months ago. Did they respond to your complaint? Probably only with a bill for there time.
|
|
upland
Member of DD Central
Posts: 479
Likes: 175
|
Post by upland on Mar 18, 2024 16:36:36 GMT
Did they respond to your complaint? Probably only with a bill for there time. I did wonder whether they would charge us 50P every time we logged on to our accounts after all we are using their server time.
|
|
dave2
Member of DD Central
Posts: 177
Likes: 163
|
Post by dave2 on Mar 18, 2024 16:55:14 GMT
This impacts those who have "squirreled away a few quid for a rainy day" most, they will have to wait for the full 90 days before a cash withdrawal becomes economically viable.
Anybody who has loaned a larger amount should consider that a thousand quid left in the AC cash account for a week would have earned them a quid if transferred out to a 5% bank account.
|
|
|
|
Post by df on Mar 18, 2024 20:39:36 GMT
So it costs £1 to process a withdrawal. What will happen to their staff salaries if everyone sticks to 90 days 'curfew'? Their previous proposal to limit withdrawal amount to £5 made sense, but this move looks ridiculous to me.
|
|
rscal
Posts: 985
Likes: 537
|
Post by rscal on Mar 19, 2024 9:18:30 GMT
I would like to clarify with AA investors (as I am only in the MLA) when and how often they get a distribution now? How is that doing, because if AC is paying you more often than once a quarter the non-free nature of you access becomes an issue (whereas for MLA types the argument of be charged is how long should we be expected to leave withdrawals given the trickle nature of our returns)
|
|
loadsahope
Member of DD Central
Posts: 84
Likes: 44
|
Post by loadsahope on Mar 19, 2024 10:14:00 GMT
I would like to clarify with AA investors (as I am only in the MLA) when and how often they get a distribution now? How is that doing, because if AC is paying you more often than once a quarter the non-free nature of you access becomes an issue (whereas for MLA types the argument of be charged is how long should we be expected to leave withdrawals given the trickle nature of our returns) Once around the start of each month, which is also when interest gets paid.
|
|
rscal
Posts: 985
Likes: 537
|
Post by rscal on Mar 19, 2024 11:58:11 GMT
I would like to clarify with AA investors (as I am only in the MLA) when and how often they get a distribution now? How is that doing, because if AC is paying you more often than once a quarter the non-free nature of you access becomes an issue (whereas for MLA types the argument of be charged is how long should we be expected to leave withdrawals given the trickle nature of our returns) Once around the start of each month, which is also when interest gets paid. Ahha! So therefore they have no reason not to allow their own customers free MONTHLY withdrawals. They claim (spuriously) that only one free quarterly withdrawal is "fair to our customers" whereas I have asked for one free withdrawal per month. We shall see how the farce proceeds.
|
|
loadsahope
Member of DD Central
Posts: 84
Likes: 44
|
Post by loadsahope on Mar 19, 2024 14:43:00 GMT
I would find it reasonble for or once per month to be free, or when the withdrawal is greater than some amount (maybe 100). Once per quarter is laughable.
|
|
