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Post by GSV3MIaC on Apr 28, 2016 12:10:18 GMT
My apologies to anyone I may have upset but it seems that you can only have an opposing view on something as long as it doesn't offend the thought police. Oh well I'll refrain from commenting on this thread anymore. I think everyone knows my thoughts by now. Just one final point, and it was something said to me by my Dad. Before parting with any money always read the small print and if you are still not sure, then walk away. Advice to heed I think. /mod hat on There are no 'thought police', you can think what you jolly well please. What you can't do, if you want to stick around, is to flout the forum rule "Please be polite and constructive" in what you actually post. If you think you were being 'polite and constructive', you are in a minority.
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Post by highlandtiger on Apr 28, 2016 12:54:23 GMT
As I never managed read any of the posts made after initial ones I wrote before they were deleted I have absolutely no idea how the thread progressed or what was said. So Im unfortunately at a disadvantage to people who had done so. So I haven't got a clue (I was going to use a bit of rhyming slang there, but thought better off it in the light of the OP's forum name), how my comments were recieved or not. I have no issues with mods doing what mods do. I have been a mod myself in the past on numerous eclectic forum sites so I know it's a thankless task. It's one of the reasons I have a tough hide.  |
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Post by scoobydoo on Apr 28, 2016 14:15:33 GMT
As I never managed read any of the posts made after initial ones I wrote before they were deleted I have absolutely no idea how the thread progressed or what was said. So Im unfortunately at a disadvantage to people who had done so. So I haven't got a clue (I was going to use a bit of rhyming slang there, but thought better off it in the light of the OP's forum name), how my comments were recieved or not. I have no issues with mods doing what mods do. I have been a mod myself in the past on numerous eclectic forum sites so I know it's a thoughtless task. It's one of the reasons I have a tough hide. You don't really need to know what was posted after to guess how your comments were received. You know what you wrote and that should be enough to understand.
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Post by dodgeydave on Apr 28, 2016 14:35:09 GMT
Think its time to move on and get back to the original subject matter
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boundah
Member of DD Central
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Post by boundah on Apr 28, 2016 17:45:43 GMT
Yep, this thread has got a wee bit toxic but hopefully everyone's nice and calm now. SS offer BNPL as a USP, and it's been the main reason I use it as my main P2P platform. But I think they should apply the 48-hour rule rigorously and forcibly sell loan parts for ALL those who miss the payment deadline, either by mistake or because they want to make an extra few p out of the system. It really isn't hard to credit our account or sell another part, is it? BTW, without wanting to cause offence  I think any comparison with credit cards' interest-free period is pretty ludicrous. Card companies make money by charging retailers, SS make nothing out of allowing the grace period. And I'd hate them to withdraw the facility because people try to game the system. |
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mosaic
Member of DD Central
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Post by mosaic on Apr 28, 2016 19:23:50 GMT
Am I missing the point?
Surely we don't earn interest until the part has been paid for?
Seems simple enough if we only get interest on the money we have invested at the same rate across all loans.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Apr 28, 2016 19:58:41 GMT
Am I missing the point? Surely we don't earn interest until the part has been paid for? Seems simple enough if we only get interest on the money we have invested at the same rate across all loans. I do believe that you don't get paid interest on parts you don't actually pay off, but that fact doesn't stop some new investors, who may think that they have found a way to cheat the system. Further to the above is people who game the PM; they up their pre-funding to their maximum amount and then sell the difference on the SM, which is just FFF.
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ianj
Member of DD Central
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Post by ianj on Apr 29, 2016 0:59:30 GMT
BTW, without wanting to cause offence I think any comparison with credit cards' interest-free period is pretty ludicrous. Card companies make money by charging retailers, SS make nothing out of allowing the grace period. And I'd hate them to withdraw the facility because people try to game the system. As I believe the reference to credit cards can only relate to my post then rest assured, there's certainly no offence taken. SS give Lenders a facility to purchase on the SM and settle, via payment or sales, an outstanding balance within 48hrs. The reasoning (my assumption possibly) is that by giving lenders time to organise finances if cash is not readily available, the platform will have gained a competitive edge. A side effect of this 48hr grace period is that there will always be a potential for lenders to profit (a minuscule percentage IMO) by delaying settlement, regardless of their reason. An accusation (my take) was made that by not settling instantly and by utilising the 48hr period lenders were attempting to 'beat the system'. This was grossly unfair as there was no question of anyone not complying with all requirements made by SS. Why lenders choose to delay payment, but still settle within the 48hrs, is unknowable, is only their business, and is most certainly not grounds for accusing anyone of cheating gaining an unfair advantage. My reference to credit cards, admittedly not a perfect analogy, was simply because there will be many possible reasons for their use, and to question anyone's reasons, or make assumptions, relating to their use, is both impertinent and a violation of their privacy, just as I believe that lenders motives should not be questioned when all their actions have all been within the 'rules' specified by the platform. There will most certainly be a cost to SS through provision of 48hrs grace, and only they can determine whether any competitive advantage justifies this cost. No doubt the 'rules' will be changed if SS consider it appropriate, but it will always be impracticable to specify 'rules' then expect the 'players' not to use them fully if it is to their advantage. Believe it or not, not everyone wants to retain INPL, but I'm 100% with you on that score.
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Post by highlandtiger on Apr 29, 2016 8:03:48 GMT
You don't really need to know what was posted after to guess how your comments were received. You know what you wrote and that should be enough to understand. 
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Post by xyon100 on Apr 29, 2016 8:10:20 GMT
Believe it or not, not everyone wants to retain INPL, but I'm 100% with you on that score. Oh, that's quite clear given the moral indignation we have seen! What I don't get is why anybody other than SS needs to give a damn. What I have seen from some posters in the past is the equivalent of getting upset because the guy next door takes advantage of a buy now pay later offer in in the local electrical store. It's none of my business if I believe he should pay right now.
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Liz
Member of DD Central
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Post by Liz on Apr 29, 2016 8:19:44 GMT
Some of these threads are getting comical.
This used to be such a friendly place.
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goopy
Member of DD Central
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Post by goopy on Apr 29, 2016 8:33:23 GMT
Why doesn't everybody just pay up and shut up......  |
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I think any comparison with credit cards' interest-free period is pretty ludicrous. Card companies make money by charging retailers, SS make nothing out of allowing the grace period. And I'd hate them to withdraw the facility because people try to game the system.
