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Post by Deleted on Dec 9, 2015 12:41:18 GMT
I would like to understand and have official answers regarding the old/new loans and their related T&C split.
a) I know some very good people here maintains list of loans on this forum and there is a split of old/new loans (before and after the switch to the real p2p mode). But I would like to know where on the Saving Stream there is a clear explanation of the T&C applied to each loan
b) In the beta version of the new site there was a table with a clear indication old/new T&C. I cannot find this information on the released new site.
c) I remember there was some discussion and promise from SavingStream that all loans would eventually be switched to the new T&C (real peer2peer lending). (and there was discussion if we had to sign anything or accept formally the switch). Has this materialised or not? Of course the problem will gradually disappear while old loans are repayed, but some are due in about a year. So I think this aspect should be clarified earlier
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Post by gaspilot on Dec 14, 2015 16:25:40 GMT
Any news on this front? It becomes very relevant when we talk about Hull and PBL 54. I'm assuming the pipeline loan will be under the new terms and PBL 54 under the old terms. Am I correct in this assumption?
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adrianc
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Post by adrianc on Dec 14, 2015 18:06:19 GMT
Where the Gloucestershire convent loans have split between old and new, they said that the old loans would be brought under the new terms. No timescale was mentioned, though.
Have any actually be re-termed yet? Or just talked-about?
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Post by Financial Thing on Dec 23, 2015 23:12:13 GMT
All I can find so far is:
"If our platform were to fail or we and/or Saving Stream Security Holding become insolvent we would transfer our obligations under the Terms and the Loan Contract to a third party back up servicer, with whom we have entered into a back up servicing arrangement."
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ablender
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Post by ablender on Dec 23, 2015 23:53:06 GMT
Where the Gloucestershire convent loans have split between old and new, they said that the old loans would be brought under the new terms. No timescale was mentioned, though. Have any actually be re-termed yet? Or just talked-about? According to Ilmoro's list 37, 38, 39 were converted to new T&C on 8/12/15.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Dec 23, 2015 23:54:00 GMT
In truth there never were any old T&Cs available for the bridging loans as the on site T&Cs were never updated from those published when the site launched which concerned the boat loans. The key variations in the new T&Cs are any references to Savingstream as an agent/intermediatary between lenders & borrowers and all references to SSSH which would not have been present in the old T&Cs as Savingstream was the defacto borrower.
I am working on the assumption that when SS says loans are being migrated that this is occurring then & there, though it would be helpful if the short lived tagging of such loans on the site was reinstated in line with savingstream's statements at the time of the new T&Cs launch
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