mikes1531
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Post by mikes1531 on Mar 9, 2016 13:48:10 GMT
Just wait two days, savingstream unwind the buy, and you're back where you were before the pre-fund. There's no need to panic, just do nothing and it'll all be sorted. The critical question is what SS say/do to the offenders and whether it's enough to reduce their appetite for repeating the offence. As someone else has suggested, one thing SS could do is not simply to unwind the unfunded purchases but instead to sell the investors' most prized parts, the ones that are hard to obtain and easy to sell. That ought to hurt enough to make people rethink their future behaviour. 
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SteveT
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Post by SteveT on Mar 9, 2016 13:55:37 GMT
I can't understand what led anyone to think they WOULDN'T receive 100% of their pre-fund target in PBL085. The SS Feast / Famine lever has been on Feast for a week or more, it's one of the biggest loans on the platform and the 2 DFLs are due to launch today too.
Great time for any new SS lenders though! You can pretty much buy the entire set today if you keep any eye out.
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sl75
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Post by sl75 on Mar 9, 2016 14:00:46 GMT
Great time for any new SS lenders though! You can pretty much buy the entire set today if you keep any eye out. So much for all the hard work it took to build up a complete set since I joined a few weeks ago!
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adrianc
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Post by adrianc on Mar 9, 2016 14:03:35 GMT
Just wait two days, savingstream unwind the buy, and you're back where you were before the pre-fund. There's no need to panic, just do nothing and it'll all be sorted. Let's hope SS treat people who do this with the full contempt they deserve, especially after the recent shenanigans with extractors of substantial INPL-michael.
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sl75
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Post by sl75 on Mar 9, 2016 14:14:39 GMT
Just wait two days, savingstream unwind the buy, and you're back where you were before the pre-fund. There's no need to panic, just do nothing and it'll all be sorted. Let's hope SS treat people who do this with the full contempt they deserve, especially after the recent shenanigans with extractors of substantial INPL-michael. If they don't already, SS need to reserve the right to force a sale of ANY loan parts of their choosing from your loan book, rather than merely unwinding the loan you just bought... as all pre-fund requests over £10k are necessarily less than the total value of the existing loan book, they'll certainly find enough to cover it.
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sl75
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Post by sl75 on Mar 9, 2016 14:27:16 GMT
Let's hope SS treat people who do this with the full contempt they deserve, especially after the recent shenanigans with extractors of substantial INPL-michael. Well the only thing SS have ever said is that the position will be unwound and that no interest will be paid. Plus there's never been a user here saying that they suffered any other punishment. So I'm concluding that there are no consequences. You must have missed this thread: p2pindependentforum.com/post/97215/thread"Misuse of our generous system will result in restrictions and limitations."
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SteveT
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Post by SteveT on Mar 9, 2016 14:43:03 GMT
The "restriction and limitation" chamber:
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davex
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Post by davex on Mar 9, 2016 15:03:30 GMT
Wish I had read this thread before I invested.
may have got some undeserved person out of a hole.
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Investboy
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Trying to recover from P2P revolution
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Post by Investboy on Mar 10, 2016 16:58:29 GMT
I told ya' this day will come! I picked up a bit more than my average allocation, but happy to hold it and in few months it will go on SM like hot cake. Cleared my balance with selling few rare small loans that I kept for this purpose. Luv ya savingstream |
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