Balder
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Post by Balder on Jan 28, 2021 11:33:50 GMT
Keeping track of late/unpaid payments is difficult enough for us lenders as it is but without admin notes it's a pain. ablrate can we please get back to the situation we used to have whereby at the close of the next business day following a due date, we either have the payment or an Admin note to explain why not and a firm new date. LW Agree 100% it looks as if 89 and others will not be paying at all this month and the Admin note basically said we don't know when they will be paid - is that good enough ablrate? Or are you actually renegotiating them all behind the scenes and not telling us?
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brush
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Post by brush on Feb 3, 2021 15:35:04 GMT
Nice to see a new loan coming friday but can we have our interest paid up from the loans mentioned in the webcast, ready to invest. Compound interest and all that
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Post by ladywhitenap on Feb 4, 2021 12:02:17 GMT
ablrate Why no note on 59 please. Over a week late and nothing seen or heard in my inbox TIA LW
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mah
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Post by mah on Feb 7, 2021 17:45:59 GMT
A few months, but still no updates for 1000105 ?
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TitoPuente
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Post by TitoPuente on Feb 7, 2021 19:32:34 GMT
A few months, but still no updates for 1000105 ? Watch the video updates.
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mah
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Post by mah on Feb 7, 2021 21:08:18 GMT
Is there any sensible update for this particular loan or would it be mere waste of time to go through all their video updates (costs quite a bit of time) ? Nothing on the Loan details - wouldn't it be much easier / simpler / time effective for all to actually put an update on the individual Loans - either the Admin Notes Section or the Documents Section or even the Videos Section of the Particular Loan instead of a general video ? What are those sections for, after all ?
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Post by Badly Drawn Stickman on Feb 7, 2021 21:42:41 GMT
Is there any sensible update for this particular loan or would it be mere waste of time to go through all their video updates (costs quite a bit of time) ? Nothing on the Loan details - wouldn't it be much easier / simpler / time effective for all to actually put an update on the individual Loans - either the Admin Notes Section or the Documents Section or even the Videos Section of the Particular Loan instead of a general video ? What are those sections for, after all ?
I can try and encapsulate the essence for you. This group of loans are to public houses/hospitality related (essentially), for some curious reason they are not a great prospect at this time, so the logic being applied is that alternative uses/time healing are the main prospects for recovery. I have to admit it makes sense to me and would not anticipate much happening for some considerable time. A written update may well be the best answer in the circumstances, probably with a proposed update in six months time (unless events change in the duration).
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mah
Member of DD Central
Posts: 347
Likes: 379
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Post by mah on Feb 7, 2021 22:28:47 GMT
Thanks VillageIdiot for the summary.
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Post by ladywhitenap on Feb 8, 2021 11:47:16 GMT
ablrateWe are now two repayments behind on #89 from the borrower beset with "banking problems" - this excuse is running a bit thin now. It is time for some loan specific truthful updates as to the nature of the problem - we are all adults here and can understand financial issue. LW
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brush
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Post by brush on Feb 8, 2021 14:54:17 GMT
151 should have paid yesterday, today would be fine though
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Post by eascogo on Feb 8, 2021 15:33:42 GMT
Loans 147 and 151. Ill-health brings me to sell my two strong positions on this platform. 151 is temporarily paused but I will release for sale once unpaused.
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Balder
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Post by Balder on Feb 8, 2021 18:09:56 GMT
ablrate 151 late on 1st payment doesn't bode well - don't say the bank problems have spread? How about an admin note?
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Post by Badly Drawn Stickman on Feb 8, 2021 18:18:20 GMT
ablrate 151 late on 1st payment doesn't bode well - don't say the bank problems have spread? How about an admin note? Pretty sure they are good for it (once 154 is completed anyway).
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Balder
Member of DD Central
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Likes: 622
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Post by Balder on Feb 9, 2021 15:25:46 GMT
ablrate 151 late on 1st payment doesn't bode well - don't say the bank problems have spread? How about an admin note? ablrate still no Admin note - why has your communication gone backwards?
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Post by supernumerary on Feb 10, 2021 9:21:52 GMT
ablrate 151 late on 1st payment doesn't bode well - don't say the bank problems have spread? How about an admin note? ablrate still no Admin note - why has your communication gone backwards? Your observation(s) add substance, to the post by p2pfan… The majority of other P2P platforms have been a soft touch on borrowers and that's why I've wound down my loans through them. I became fed up of hearing excuses (start from well before the Coronavirus) of lenders not paying and the platforms constantly being biased in the favour of borrowers versus the rights of lenders. Becoming lax with receiving interest payments is one of the few insights we get into the inner-workings of AblRate. Yes, they have been a particularly impressive platform, thusfar, but so were those other platforms named above and other well-known European platforms until they started going downhill and eventually went bust. Therefore, AblRate becoming substandard on a few fronts (for example, they stated in November that loans would go live in December, some of which still haven't even though we're into mid-January) and their particularly unhealthy obsession with ASMX which is obviously distracting them from core tasks within their business (previously the obsession was with "CBILS" and you couldn't watch a single video for months without it being the main, passionate subject talked about - odd for a P2P platform) is the reason why I also am stepping back from lending via the platform as a precaution. I'm not saying I'm hugely worried about AblRate or that I'm pausing my investments with them, but they do need to up their game on these persistent late and non-payments.
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