registerme
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Post by registerme on Jun 29, 2015 17:15:13 GMT
I've had a go at them too (fat lot will come of it, though!) And here is the relevant extract from their recent blog post about "How the collection process works" So, since the last comment was 26th May, they can't even stick to their own procedures. HA! They're so laughable I've stopped asking questions. On a late loan I hold the last comment was months ago saying they were going to default; I emailed them and they explained they had decided not to default the loan; nobody has ever bothered to add a comment to mention they changed their minds! The last time I phoned them to discuss a late loan the person I spoke to talked about a "no loan left behind" policy. I was actually amused, and appalled, enough by this to laugh. More seriously apparently what they do is sweep all late / non-performing loans every two weeks and assure that each one has an "owner" who is responsible for it........
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Post by loanstar on Jun 29, 2015 22:04:19 GMT
And the reply was "can confirm that we are on schedule for early July" (repayment) and that "Our head of property, Luke Jooste, is currently preparing an update for investors which will initially be placed on the forum and subsequently in a loan comment." So thats the reason the loan is late, and all the reassurance that we need.
It the way they tell them. They should have a job in the Greek Central Bank.
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coop
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Post by coop on Jun 30, 2015 9:04:39 GMT
Pish poor as usual. Another deadline slides past and they act like it was never there...
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blender
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Post by blender on Jun 30, 2015 9:29:07 GMT
Now be fair! I heard they had done everything but were supplied the wrong kind of water.
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coop
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Post by coop on Jun 30, 2015 10:30:33 GMT
ZFG about this loan being late; it's the lack of communication that really irks me.
If you say something is on target for end of June then you should have the good grace to let people know beforehand if that target is not going to be met. Simply saying "We are on track for early July" [which was never the date they were aiming for] with no explaination as to why and no apology given isn't good enough!
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adrianc
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Post by adrianc on Jul 1, 2015 11:57:20 GMT
ZFG about this loan being late; it's the lack of communication that really irks me. And, in less than an hour after your post, there was another comment... "Another absolutely-definitely-positively-final-(except-for-the-next-few) hurdle has been cleared..."
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adrianc
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Post by adrianc on Jul 8, 2015 17:59:04 GMT
<happy dance>
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blender
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Post by blender on Jul 8, 2015 18:34:49 GMT
Comment for tranches 1 (7419) and 2 (6762) from today says: "Please be advised that we have now received sale proceeds from the first property sales which amount to £354k. This is sufficient to fully repay tranches 1 & 2 and payments will be distributed to investors overnight tonight. Respective interest due will also be taken into account. The balance of the sale proceeds will be held towards the repayment of tranche 3. Further sale proceeds are expected by the end of the week which fully repay all debt on this scheme in full (tranche 3). Thank you for bearing with us on the late payment issues for these loan tranches."I hold some of tranche 3 (9950) which was due for repayment today. It says "processing" under the repayments tab, but there's no loan comment yet saying that repayment will be delayed. It would be nice if Failingus Consistently kept tranche 3 lenders informed without having to hunt for the info. If they tell you about it you might demand two days' extra interest.
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adrianc
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Post by adrianc on Jul 9, 2015 7:00:45 GMT
Comment for tranches 1 (7419) and 2 (6762) from today says: "and payments will be distributed to investors overnight tonight."...and it has.
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mikeb
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Post by mikeb on Jul 9, 2015 17:46:28 GMT
Comment for tranches 1 (7419) and 2 (6762) from today says: "and payments will be distributed to investors overnight tonight."...and it has. 6762 did, 7419 got wedged in the abacus somewhere and needs manual intervention 
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