Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Jan 22, 2016 21:18:23 GMT
So at this point, is the responsibility up to the car park's owner to provide more spaces, or is it for the drivers to wait? Apart from this, I still do not think that it justifies the argument that it is difficult to get money in. I am seeing this from the mechanical / technical / banking / etc . . .point of view. We want the car park extension to have good foundations, otherwise it may collapse, dragging the whole lot down.
|
|
Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Jan 22, 2016 21:23:06 GMT
There is of course the provision fund to help with any short falls once the assets have been realised. Just tagging onto this line of conversation; back last year, before I had invested a penny on P2P I was researching several sources to try and find suitable places to put my money. I seem to remember when reading about SS that there had been one default. For us newcomers, how was this resolved and how was this handled by SS; Did anybody loose out? Did the defaulted loan still provide interest? They sold the defaulted property, and everyone got 100% back including interest upto the date members were repaid, without the need to touch the provision fund. The loan was also tradeable on the SM.
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853 
Likes: 4,298
|
Post by cooling_dude on Jan 22, 2016 21:47:20 GMT
Just tagging onto this line of conversation; back last year, before I had invested a penny on P2P I was researching several sources to try and find suitable places to put my money. I seem to remember when reading about SS that there had been one default. For us newcomers, how was this resolved and how was this handled by SS; Did anybody loose out? Did the defaulted loan still provide interest? They sold the defaulted property, and everyone got 100% back including interest upto the date members were repaid, without the need to touch the provision fund. The loan was also tradeable on the SM. Thanks Liz. Good to know the system works!
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
|
Post by ilmoro on Jan 22, 2016 22:06:38 GMT
They sold the defaulted property, and everyone got 100% back including interest upto the date members were repaid, without the need to touch the provision fund. The loan was also tradeable on the SM. Thanks Liz. Good to know the system works! Bear in mind that theyve changed it so the result may not be the same next time
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Jan 23, 2016 6:59:49 GMT
They sold the defaulted property, and everyone got 100% back including interest upto the date members were repaid, without the need to touch the provision fund. The loan was also tradeable on the SM. Thanks Liz . Good to know the system works! Nicely summarised by Liz just to add it was not only tradeable, but towards recovery was traded quite extensively; and as ilmoro says the system now is a bit different so technically you wouldn't continue to get monthly interest paid for example, and although still accrued recovery of both capital and interest may not be 100%. This Forum is a mine of information, and the thread for the defaulted loan (PBL 07) is here if you fancy a bit more reading material  .
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Jan 23, 2016 11:57:18 GMT
Thanks Liz . Good to know the system works! Nicely summarised by Liz just to add it was not only tradeable, but towards recovery was traded quite extensively; and as ilmoro says the system now is a bit different so technically you wouldn't continue to get monthly interest paid for example, and although still accrued recovery of both capital and interest may not be 100%. This Forum is a mine of information, and the thread for the defaulted loan (PBL 07) is here if you fancy a bit more reading material . Thanks for the link star dust . I never realised that it was so recent. I'll have a good read through that thread; I just can’t get enough of SS P2P reading material  !
|
|
ablender
Member of DD Central
Posts: 2,204
Likes: 555
|
Post by ablender on Jan 23, 2016 13:40:21 GMT
Thanks star dust for the link. I am reading through it and arrived at page 3. In order to put it in context, will I be correct in saying that at the moment of PBL7 going in default the SM was, at least slightly, less liquid than today? How do you think this difference can effect a current default? Also it is pointed out that PBL7 was a small loan, can anyone chip in some ideas about how they think a larger default can behave? |
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Jan 23, 2016 13:47:06 GMT
Thanks star dust for the link. I am reading through it and arrived at page 3. In order to put it in context, will I be correct in saying that at the moment of PBL7 going in default the SM was, at least slightly, less liquid than today? How do you think this difference can effect a current default? Also it is pointed out that PBL7 was a small loan, can anyone chip in some ideas about how they think a larger default can behave? There was often availability across several loans on the SM around that time. PBL007 usually had some available once defaulted, as I recall, but saw steady trading too,
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Jan 23, 2016 13:56:18 GMT
Thanks star dust for the link. I am reading through it and arrived at page 3. In order to put it in context, will I be correct in saying that at the moment of PBL7 going in default the SM was, at least slightly, less liquid than today? How do you think this difference can effect a current default? Also it is pointed out that PBL7 was a small loan, can anyone chip in some ideas about how they think a larger default can behave? There was often availability across several loans on the SM around that time. PBL007 usually had some available once defaulted, as I recall, but saw steady trading too, Would any defulted loan be traded on the SM now? As I read it, interest will cease to be paid once a loan defults and would only be paid once all is resolved. Would this not mean that any defulted loan would not be alowed to trade on teh SM market.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
|
Post by ilmoro on Jan 23, 2016 14:30:40 GMT
There was often availability across several loans on the SM around that time. PBL007 usually had some available once defaulted, as I recall, but saw steady trading too, Would any defulted loan be traded on the SM now? As I read it, interest will cease to be paid once a loan defults and would only be paid once all is resolved. Would this not mean that any defulted loan would not be alowed to trade on teh SM market. ISTM Based on the statement made by SS here (was repeated on the site somewhere, though I cant find it quickly now) then yes they will still be tradeable though interest would not be paid until recovery on loans under the new T&Cs. Loans under the old T&Cs would carry on as before. However, there is nothing to say this wouldnt change. Cant see anything in T&Cs that cover this specifically. However, whether anyone would buy it on the promise of interest at some point in the unknown future is another matter and probably would be dependent on a loan by loan basis.
|
|
|
|
Post by tsk1970 on Jan 26, 2016 13:22:14 GMT
Thanks for the feedback - have taken a look at MT and dipped the toe in the market there - will also have a look at the other options too
|
|
.
!