kaya
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Post by kaya on Oct 21, 2015 15:55:27 GMT
Loans with late repayments are seemingly becoming ever-more common at the moment. Many a borrower is happy to answer lots of questions before they get their cash - but when payments go late, communication is lost and we tend to get.....silence. An honest appraisal of the situation is much better than nothing at all, and lenders will usually be patient and understanding when things are a little tight. An honest explanation is all that is needed. Can anything be done to improve the flow of communications? The way things are going ( definately south), my criteria for lending is going to get a whole lot stricter from now on. Rebs needs to do better too. For example - and there are many - it increasingly looks like the magic mushies are going to default into a bad trip after all, but it seems that everyone has gone home...
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Post by dodgeydave on Oct 21, 2015 23:20:59 GMT
I personally gave up on REBS some time ago. I felt they had buried their head in the sand about chasing money.
And i don't think there attitude has changed if anything it has got worse.
You only have to look at feed back on the said Mushroom loan.
June 24, 2015 at 13:07
Dear Mr. Corporate & Commercial,
Please could you spare another 20 seconds in order to explain this £1500 part payment fully and unambiguously. The ReBS website’s “Repayments” tab shows that payments are up-to-date. There is nothing which might explain a £1500 part-payment.
Regards,
October 9, 2015 at 13:09
09/10. Further payments have been received but given the delay in previous payments there is some confusion between the customer and REBs as to where said monies are to be allocated. We shall undertake a full financial review of the case and update both parties as to what remains to ensure that going forward, the account is agreed. This process will be completed by return.
Regards, Corp & Comm.
We are still waiting for an answer to both questions
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shimself
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Post by shimself on Oct 22, 2015 12:10:09 GMT
I flagged a Discussion question by email to REBS (because it was seeking an answer from rebs themselves).
I was told that they don't keep up with the loan discussions any more because there's so many of them. I suggested they should change that policy quite quickly.
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Post by dodgeydave on Oct 22, 2015 12:16:08 GMT
So there is no point raising any questions ??
Seems a very short sighted policy.
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kaya
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Post by kaya on Oct 22, 2015 21:07:03 GMT
Apparently an exciting announcement is coming up regarding the mushies! I reckon it'll be a stir-fry. And I just love the new Rebs word 'imminnently' (sp?) regarding due repayments, and now live my life on the edge of nervous imminnence awaiting the next default....
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Post by dodgeydave on Oct 23, 2015 1:59:18 GMT
If REBS do reply friday it will be posted at 5pm just as they leave the building.
But i will not be holding my breath.
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kaya
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Post by kaya on Oct 23, 2015 10:24:49 GMT
Well the post has now been made, and makes for interesting reading! Would you, or anyone, make a first repayment on a loan, before having even received the funds being borrowed? Of course not, so you can understand the first point of dispute, which then apparently escalated into a wrangle over part-interest payments and late payment fees. All very silly, and now we await the results of negotiations....
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shimself
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Post by shimself on Oct 23, 2015 12:13:30 GMT
Well the post has now been made, and makes for interesting reading! Would you, or anyone, make a first repayment on a loan, before having even received the funds being borrowed? Of course not, so you can understand the first point of dispute, .... Quite so, and at least one other borrower (north of the border) fell into a similar trap. I emailed Nick to ask if they have now changed the way this works, because it's obviously going to lead to trouble again as it stands
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Post by dodgeydave on Oct 23, 2015 13:58:46 GMT
In fairness to REBS it appears to be a very honest reply at long last.
It also shows the communication between customer and us lenders is terrible.
The loan date was 23/06/2014 , Surely all this should of been sorted out last year.
But lets see how the payments go from this day forth
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