stevio
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Post by stevio on Sept 30, 2015 19:06:17 GMT
If people want to put maximum amounts on how much they take then that is fine. It is a manual process and we are not and have never been a "Computer says No" outfit. If anyone is struggling with the secondary market, there are tutorials on site or call me and I will talk you through how to sell loans. If people get too much and then don't want them I will happily buy them back off you for face value at any point in the next month. Thanks, that helps
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madpierre
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Post by madpierre on Sept 30, 2015 19:35:31 GMT
I cannot leave Ablrate soon enough, but I am totally perplexed by the SM so that may prove difficult. - Log in and click on "Current Investments" in the Dashboard section.
- Look at the list of your current investments and click on the "Buy or Sell Loans" link on its line.
- Click on the "CREATE OFFER" button near the lower middle of the page.
- To the right of the word "Sell" put the amount you want to sell, up to your total holding. The other screen will still have your current amount if you need to look that up.
- To the right of the word "Price" put 100 or some higher amount if you want to try to sell at a profit. The maximum percentage that you can successfully sell at depends on the loan so I won't try to guide you.
- To the right of "valid until" clock on the DD/MM/YY and then click on a date a month or so in the future, doesn't really matte much for your purpose.
- Click on the "Novation Agreement" box, that's you agreeing to the sales contract.
- Click on Submit.
- If told that you can't sell more than you own, reduce the amount you're trying to sell by a penny and ask Ablrateandy to fix it once you've done all possible selling.
- Now wait to see whether there are any interested buyers. Expect it to take several days at least because the speed of selling depends partly on the chance of who looks when and partly on the price you seek.
- If you haven't sold in a week go to your active bids and offers screen then secondary offers and cancel the offers and relist at a lower percentage. Repeat until all sold.
Thank you James. Much appreciated!
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james
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Post by james on Sept 30, 2015 19:48:18 GMT
There's also a potentially faster way which is likely to get you a lower price. Just go to secondary market page and pick the loans you have. If you see any bids in the left column you can sell to people who are offering you a price there. Just put in the amount you want to sell in the box on the lower left and it'll take the bids in best value to least value order. These transactions happen immediately after you agree on the confirmation screen. There's not usually a large amount bid for so the offering way I described first is likely to both get more sold and get you a better price. These bids can also be a clue abou the selling price percentage you should ask for - if people are making bids that probably means that they think they need to pay at least that much and can be a clue that you should be placing offers at that or higher percentage prices.
If you fancy dropping me a private note saying how much you want to sell and at what price I'll consider putting in some money and some bids for those loans. But no real need for this, the fully public stuff should get the job done. Mostly this is just if you want a bit more certainty this evening rather than the wait routine.
Oh, one other thing: the public sale process is completely anonymous. Neither buyer nor seller gets the identify of the other party.
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madpierre
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Post by madpierre on Sept 30, 2015 20:18:22 GMT
Thanks again James. I'm not looking to make gains but I don't wish to make losses either. Planes and containers sold instantly of course but the SME loans may hang around a while
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james
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Post by james on Sept 30, 2015 20:41:01 GMT
Glad you got the first part done. Try not to let your desire to exit push you into too quickly dropping the price on the rest - even when exiting a bit of patience can save money that you can profitably invest somewhere else.
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madpierre
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Post by madpierre on Oct 1, 2015 7:41:58 GMT
Glad you got the first part done. Try not to let your desire to exit push you into too quickly dropping the price on the rest - even when exiting a bit of patience can save money that you can profitably invest somewhere else. I will be here for a while yet as I've got a sizeable chunk in the SEaB loan, which ironically would have ensured I got some of the extra containers. However, once everyone has been persuaded to buy more and the loan fills, I can leave with my dignity intact
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Post by ablrateandy on Oct 1, 2015 11:23:49 GMT
Loan is now available for trading on the secondary market!
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Oct 1, 2015 14:17:07 GMT
I envisage that allocations will not be high. Doesn't ABLrate know exactly what my failed bid was in those first few seconds? That will be the maximum I would like, but I doubt I'll get it. I'm not sure they work in fractions
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james
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Post by james on Oct 1, 2015 14:21:52 GMT
Glad you got the first part done. Try not to let your desire to exit push you into too quickly dropping the price on the rest - even when exiting a bit of patience can save money that you can profitably invest somewhere else. I will be here for a while yet as I've got a sizeable chunk in the SEaB loan, which ironically would have ensured I got some of the extra containers. However, once everyone has been persuaded to buy more and the loan fills, I can leave with my dignity intact I suggest that you drop Ablrate support an email or call and explain that you're unhappy and leaving and would like to exit this loan before it closes. While normally that wouldn't be a good idea, a departing customer is one case where it makes sense to cancel the bid to help the person leave. It's also good business sense, to help the departing person leave as happy as possible given that something made them unhappy in the first place. Of course you can wait if you like but you might as well give Ablrate the chance to do the sensible thing and help you get it done more quickly. I don't personally think that there was anything wrong with what Ablrate did but you do and that's enough for me to help you to get the leaving done.
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jimbob
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Post by jimbob on Oct 1, 2015 16:07:56 GMT
Responded to the email.
Will be interesting to see what the request % is.
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Post by ablrateandy on Oct 1, 2015 16:12:32 GMT
At the moment it looks like 15-20pc will be pro rats at a guess....
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jimbob
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Post by jimbob on Oct 1, 2015 17:52:47 GMT
At the moment it looks like 15-20pc will be pro rats at a guess.... Every little helps
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Post by ablrateandy on Oct 1, 2015 19:46:51 GMT
Glad you got the first part done. Try not to let your desire to exit push you into too quickly dropping the price on the rest - even when exiting a bit of patience can save money that you can profitably invest somewhere else. I will be here for a while yet as I've got a sizeable chunk in the SEaB loan, which ironically would have ensured I got some of the extra containers. However, once everyone has been persuaded to buy more and the loan fills, I can leave with my dignity intact I'm very sorry that you are so offended by my email to users and it isn't our intention to have people feel that they are held hostage on the platform. I'm glad to see that you have managed to sell your holdings in just a few minutes in the secondary market, keeping all interest and with no capital loss, so whilst you haven't enjoyed your experience, at least you got over 10pc returns whilst you were with us. . I will be happy to buy your SeAB loans off you at whatever they cost you with my own money as soon as it is on the secondary market if you contact me.
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stevio
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Post by stevio on Oct 2, 2015 8:07:47 GMT
At the moment it looks like 15-20pc will be pro rats at a guess.... So just to confirm, we will receive approx 15-20% of the higher of either what we invested in SEaB loan or what we had 9pm on the day? You asked that there were cleared funds in the account, can I ask: a) Will you tell us in advance what amount we have been allocated so we don't have to guess what to transfer? b) Is there a date and time the transfer of funds will need to be done by? The above would make it easier in juggling money around, particularly if we have a little notice. It is the start of the month and income receiving and bill paying time after all. Thanks
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Post by ablrateandy on Oct 2, 2015 8:17:04 GMT
Yes to the above I will mail and let you know the amount and give you a few days to clear it if needed
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