stokeloans
Member of DD Central
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Post by stokeloans on Aug 9, 2016 6:15:19 GMT
Mine sold over night,hooray.
The upshot of this is I'm going to be a lot more wary what/who I invest in in the future.
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Jeepers
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Post by Jeepers on Aug 9, 2016 7:36:28 GMT
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Post by savingstream on Aug 9, 2016 7:43:27 GMT
It was all mopped up with the help of AJAX. Everyone thought she was messing about. Do you think she is a front for saving stream? Certainly not.
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Jeepers
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Post by Jeepers on Aug 9, 2016 8:03:13 GMT
I can't help thinking that whoever buys this loan is being mislead. I expect savingstream to give me as much information they know about a particular loan however irrelevant they may consider it to be. As the investor, we should be given the info to be able to come to our own decision as to how significant that info is. In this case, I believe the borrower poses a major threat and high risk of default going by his track record. What other information is waiting to be uncovered about other loans? Trust and transparency is everything in P2P. |
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adrianc
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Post by adrianc on Aug 9, 2016 8:07:40 GMT
New to this thread, it is extremely confusing and difficult to work out what is going on here. Could somebody following this please summarise which loans are involved and what the problem is, if there is indeed one? I guess you're up to speed now, but the very short version... The borrower companies behind PBL64 and PBL56 are linked to an individual who is reported to have a very unsavoury way of doing business, focussing on the agricultural sector, and has apparently had several failed businesses and bankruptcies in the past. The word "fraud" is frequently used but AFAICT, he's never been charged, let alone found guilty, of any crime. He has been named in parliament in relation to his business practices. Several new posters here have taken a very close interest in these loans. At least one of them reports to have been a "victim" directly of this individual. A Times journo is also on the case, and has been harrying SS on Twitter and now in an article. SS's response is that the security on the loan is good in the event the loan is not repaid. Some posters are questioning the valuation document. It all seems quite straightforward to me, at least... - If you don't like a loan, don't have any money in it.
- If you've got your money in a loan, and something comes out that causes you not to like it, sell it.
- If your trust in SS is shaken, then sell all your SS loans, withdraw your money, and invest elsewhere.
There's a fine line between sharing DD and a vendetta.
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locutus
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Post by locutus on Aug 9, 2016 8:18:14 GMT
New to this thread, it is extremely confusing and difficult to work out what is going on here. Could somebody following this please summarise which loans are involved and what the problem is, if there is indeed one? I guess you're up to speed now, but the very short version... The borrower companies behind PBL64 and PBL56 are linked to an individual who is reported to have a very unsavoury way of doing business, focussing on the agricultural sector, and has apparently had several failed businesses and bankruptcies in the past. The word "fraud" is frequently used but AFAICT, he's never been charged, let alone found guilty, of any crime. He has been named in parliament in relation to his business practices. Several new posters here have taken a very close interest in these loans. At least one of them reports to have been a "victim" directly of this individual. A Times journo is also on the case, and has been harrying SS on Twitter and now in an article. SS's response is that the security on the loan is good in the event the loan is not repaid. Some posters are questioning the valuation document. It all seems quite straightforward to me, at least... - If you don't like a loan, don't have any money in it.
- If you've got your money in a loan, and something comes out that causes you not to like it, sell it.
- If your trust in SS is shaken, then sell all your SS loans, withdraw your money, and invest elsewhere.
There's a fine line between sharing DD and a vendetta. The Times also reported a spent conviction for theft.
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treeman
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Post by treeman on Aug 9, 2016 8:19:04 GMT
Yes, very wrong. I sold two parts of PBL64. Got credited for both then credited for first again and the second is still part sold in my Selling Parts. About to write to savingstream to let them know... Hmmm.......... My Solds are still showing as Sold. £5k showing on SM. When I go to list the quid I kept it says the queue is £28.5k ....... Some midnight weirdness for sure. beechside - Be sure to let us know what you find out. Displayed For Sale amount and Queue when listing still showing a c.£24k difference this morning
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adrianc
Member of DD Central
Posts: 10,040
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Post by adrianc on Aug 9, 2016 8:23:58 GMT
I guess you're up to speed now, but the very short version... The borrower companies behind PBL64 and PBL56 are linked to an individual who is reported to have a very unsavoury way of doing business, focussing on the agricultural sector, and has apparently had several failed businesses and bankruptcies in the past. The word "fraud" is frequently used but AFAICT, he's never been charged, let alone found guilty, of any crime. He has been named in parliament in relation to his business practices. Several new posters here have taken a very close interest in these loans. At least one of them reports to have been a "victim" directly of this individual. A Times journo is also on the case, and has been harrying SS on Twitter and now in an article. SS's response is that the security on the loan is good in the event the loan is not repaid. Some posters are questioning the valuation document. It all seems quite straightforward to me, at least... - If you don't like a loan, don't have any money in it.
- If you've got your money in a loan, and something comes out that causes you not to like it, sell it.
- If your trust in SS is shaken, then sell all your SS loans, withdraw your money, and invest elsewhere.
There's a fine line between sharing DD and a vendetta. The Times also reported a spent conviction for theft. Furry muff. A quick google finds it was quoted in Parliament as being from 1976, when the individual in question would have been 24 years old. A quick look at Companies House shows he was 44 when he was first appointed a director of a company.
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beechside
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Post by beechside on Aug 9, 2016 8:28:22 GMT
treeman: I've heard nothing yet and my balance is still higher than it should be by 2x the amount I had invested in PBL56. My cash balance is higher than the amount I held/sold and I still have some in Selling Parts. Your humble leaf... 
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treeman
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Post by treeman on Aug 9, 2016 8:41:37 GMT
treeman : I've heard nothing yet and my balance is still higher than it should be by 2x the amount I had invested in PBL56. My cash balance is higher than the amount I held/sold and I still have some in Selling Parts. Your humble leaf... Resisting (with some difficulty) the temptation to start a pun fight .............. far too early in the week for that ! 
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SteveT
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Post by SteveT on Aug 9, 2016 9:04:47 GMT
Are yew sure?
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beechside
Member of DD Central
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Post by beechside on Aug 9, 2016 9:42:06 GMT
Tim has just come back to me. They've corrected the balance problems on my account but said no more about the impact of the problem elsewhere.
I also got a 0% honesty bonus for identifying that they had credited me with extra thousands of pounds. Perhaps it will be even higher next time!
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beechside
Member of DD Central
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Post by beechside on Aug 9, 2016 9:48:41 GMT
Given that this is all about Acorn House and its inhabitants, it's not a great time to have arboreal affiliation... 
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Investboy
Member of DD Central
Trying to recover from P2P revolution
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Post by Investboy on Aug 9, 2016 11:40:29 GMT
Thanks all for the research and this thread. To be safe I divested myself out of PBL064 & 56.
There was like 100k in front of me yesterday and today my part was sold. Apparently lots of demand from people who did not read this forum and the Times.
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locutus
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Post by locutus on Aug 9, 2016 12:06:08 GMT
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