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Post by ladywhitenap on Apr 25, 2020 11:11:58 GMT
ablrate#65 Disappointing that they have been granted interest only terms (and presumably agreed to them?) and yet can't make the reduced payment on time #113 I can't really see why this business should be financially affected by the current (no pun!) situation. LW
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TitoPuente
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Post by TitoPuente on Apr 25, 2020 11:23:00 GMT
ablrate #65 Disappointing that they have been granted interest only terms (and presumably agreed to them?) and yet can't make the reduced payment on time #113 I can't really see why this business should be financially affected by the current (no pun!) situation. LW #142 raise will be affected if #113 does not pay.
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Balder
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Post by Balder on Apr 27, 2020 8:43:15 GMT
ablrate a few fingers needed today.
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Balder
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Post by Balder on May 5, 2020 8:33:53 GMT
ablrate How about an update on 110 Ablrate that was due to pay on the 3rd?
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brush
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Post by brush on May 5, 2020 8:45:25 GMT
Also 123 the 7% loan due on the 30th.
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Balder
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Post by Balder on May 8, 2020 8:24:56 GMT
89 ablrate. Are any paid on time now?
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Post by ladywhitenap on May 8, 2020 8:30:56 GMT
89 ablrate . Are any paid on time now? I too am becoming frustrated by the non payers. Yes market conditions are difficult but especially those borrowers who have negotiated revised terms really ought to be sticking to their new deals or not have agreed to them in the first place. LW
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Post by muttley916 on May 8, 2020 9:34:09 GMT
The silence on each non payment is adding to my frustration.
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number5
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Post by number5 on May 8, 2020 10:02:55 GMT
Here we go...
Just received an update on 123, expected payment after bank holiday!
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Post by ladywhitenap on May 11, 2020 19:01:32 GMT
I can't seem to trace the 5th may payment or an admin note for #38. Any update available please? ablrateLW
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brianlom1
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Post by brianlom1 on May 13, 2020 19:12:36 GMT
Also 123 the 7% loan due on the 30th. ablrate - update please, latest admin note posted on 08/05/2020 stated: We have been in touch with the borrower reference this late payment and expect payment in after the bank holiday weekend
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p2pfan
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Post by p2pfan on May 14, 2020 23:46:03 GMT
Also 123 the 7% loan due on the 30th. ablrate - update please, latest admin note posted on 08/05/2020 stated: We have been in touch with the borrower reference this late payment and expect payment in after the bank holiday weekend Even with the interest being slashed to half for #123, to only 7%, they are refusing to make payment. Therefore the latest update from Ablrate, yesterday, is: "We have yet to receive the payment and will be issuing a letter before action today." Not looking good I'm afraid. Many of these borrowers should not be offered lenient terms because they then see it as a sign of weakness and take it as an opportunity to ride a coach and horses through any agreement.
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Post by ladywhitenap on May 15, 2020 8:50:57 GMT
ablrate - update please, latest admin note posted on 08/05/2020 stated: We have been in touch with the borrower reference this late payment and expect payment in after the bank holiday weekend Even with the interest being slashed to half for #123, to only 7%, they are refusing to make payment. Therefore the latest update from Ablrate, yesterday, is: "We have yet to receive the payment and will be issuing a letter before action today." Not looking good I'm afraid. Many of these borrowers should not be offered lenient terms because they then see it as a sign of weakness and take it as an opportunity to ride a coach and horses through any agreement. The fault could equally lie with ablrate in accepting a less than credible ability to pay half interest for a business in this sector. The borrower doesn't have a good payment record before COVID shutdown with 60% of payments made late. LW
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blender
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Post by blender on May 15, 2020 9:53:01 GMT
There is probably no fault anywhere. The borrower's income will be zeroed. I cannot see how Ablrate can be criticised for not reducing the interest rate sufficiently. Assuming the business is not generating cash, the decision is between a complete holiday and closing it down by selling its plant into the current market, then going after the guarantee. If the guarantee is solid and the business prospects good, then there is the option to grant a holiday and extension. Easy for me to say because I do not hold it.
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number5
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Post by number5 on May 15, 2020 10:21:44 GMT
I would have thought this one would have gone on the 3 month holiday...I was surprised, pleasantly, when only the rate was slashed.
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