adrianc
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Post by adrianc on May 14, 2016 8:02:36 GMT
/mod hat definitely off Perhaps he's hoping to get extra for the livestock? Ot maybe it's just inflation?? I would donate the mouse that was stood in the middle of the hall floor last night - but it was looking a little, umm, second-hand this morning. All three bits of it. Guess the cats weren't asleep on the bed all night after all.
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TheDriver
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Slightly bonkers
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Post by TheDriver on May 22, 2016 19:33:55 GMT
A new comment has been added : " As indicated previously we are working with the client with a view to initially get repayments on track and ultimately to repay the debt in full. In terms of the former the borrower has indicated that the outstanding April payment will be received next week. Meantime every effort is being made to realise the value in the leasehold improvements in the property, fixtures and fittings and equipment in order to repay debt. "
Back to waiting and (hopefully) seeing ............ So, the DEFAULT PROCESS specified by LC says:
*After 30 days the loan falls into default if the repayment is not received.
*We will allow a reasonable period of time to rectify the default prior to taking recovery action.
No payment has been received since March. The April payment promised several times is still outstanding. 40 days have elapsed since the first payment was missed, so lendingcrowd why is this loan status still showing as LIVE?
That doesn't dictate any particular method for the recovery process - the experts can continue dealing with this - but if it's LIVE surely it should be listed on the LE - otherwise what does LIVE mean?
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pip
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Post by pip on May 23, 2016 21:10:15 GMT
To my knowledge LC have never defaulted a loan despite 3 loans being late. Very frustrating as paying tax on the bonus, but getting no tax relief for bad debt.
I have no confidence that any of the late loans will be recovered, lot's of promises from the guarantors, very little money.
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adrianc
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Post by adrianc on Jun 7, 2016 14:32:02 GMT
Another new comment... So, what do we think? Light at the end of the tunnel, or a bit more frantic time-buying bull?
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jimbob
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Post by jimbob on Jun 7, 2016 14:47:00 GMT
Can we perhaps read a partial recovery from that ? (So far)
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Post by Butch Cassidy on Jun 7, 2016 14:53:49 GMT
My view on this one hasn't changed (quite confident of at least full capital recovery + hopefully interest too) - this looks a straight forward recovery: sell valuable lease, pay off LC loan in full & all seems to be going to plan.
Defaults happen, making money from bars/restaurants is very hard, failures are high, this one has had it's problems shall we say - none of which should affect the value of this lease/recovery - Time will tell if my optimism is well placed or not .
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adrianc
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Post by adrianc on Jul 4, 2016 16:06:38 GMT
Another new comment... So, what do we think? Light at the end of the tunnel, or a bit more frantic time-buying bull? A month later, silence.
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treeman
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Post by treeman on Jul 4, 2016 16:49:31 GMT
Another new comment... So, what do we think? Light at the end of the tunnel, or a bit more frantic time-buying bull? A month later, silence. Indeed - and that none of the ("He has not been able to make a full payment however he has lodged some funds as a gesture of goodwill.") goodwill has made it's way downhill to investors ..........
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adrianc
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Post by adrianc on Jul 4, 2016 16:56:02 GMT
Indeed - and that none of the ("He has not been able to make a full payment however he has lodged some funds as a gesture of goodwill.") goodwill has made it's way downhill to investors .......... TBF to LC on that one, if this was an FC loan, they wouldn't pay a partial payment, either. If somebody only paid part of their monthly, it'd remain with the platform until enough had been received to make a full month's payment to lenders. OTOH, FC would have LONG since defaulted this one... The last payment received was due on 12th March. That was the third payment of the loan. Next Tuesday will be the fourth missed payment.
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adrianc
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Post by adrianc on Jul 13, 2016 14:06:35 GMT
It lives...! (almost)
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treeman
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Post by treeman on Jul 13, 2016 15:33:49 GMT
A Tesco moment - some progress at least
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adrianc
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Post by adrianc on Aug 16, 2016 20:02:32 GMT
...and about time too...
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Post by nanniema on Aug 16, 2016 20:10:09 GMT
When did you get this up-date as I've received nothing or are they only advising those who have the temerity to ask?
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adrianc
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Post by adrianc on Aug 16, 2016 20:47:36 GMT
When did you get this up-date as I've received nothing or are they only advising those who have the temerity to ask? Sent to me, as any other update - I've never prodded or nudged them. I've not got a huge chunk of the loan (thankfully!) Timed at 5.25pm today.
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ablender
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Post by ablender on Aug 18, 2016 9:04:35 GMT
When did you get this up-date as I've received nothing or are they only advising those who have the temerity to ask? Sent to me, as any other update - I've never prodded or nudged them. I've not got a huge chunk of the loan (thankfully!) Timed at 5.25pm today. I did. I frankly had enough of LC and how they are "running the business" or should I say manipulating?
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