stevio
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ATR 532
Sept 15, 2016 21:41:59 GMT
via mobile
Post by stevio on Sept 15, 2016 21:41:59 GMT
ablrate 10 days ago we were asked to bare with you as you were adding additional functionality to the website to enable this loan to become tradable. Please can you provide a timescale around how long we should bare with you for? In the event that you have understandably decided to abandon this additional functionality, perhaps you could manage our expectations a little? I'm a little concerned that you are becoming FC when it comes to communication! Since they seemed to decide they can't post anything without checking with the borrower first, their communication has gone to about 10% of what it was. This was a USP but seems to have gone by the wayside, unless your happy with waiting a week (or two) for them to get back to you. Poor show ablrate
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 16, 2016 0:24:22 GMT
ablrate 10 days ago we were asked to bare with you as you were adding additional functionality to the website to enable this loan to become tradable. Please can you provide a timescale around how long we should bare with you for? In the event that you have understandably decided to abandon this additional functionality, perhaps you could manage our expectations a little? I'm a little concerned that you are becoming FC when it comes to communication! I feel the level of nudity being advocated requires some form of advisory notification. Not sure I want ablrate or lenders to be quite so revealing as advocated though an update on the promised SM functionality for this & the 5yr container loan would be welcome. Cmon guys, no more teasing, time to reveal the goods
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blender
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Post by blender on Sept 16, 2016 6:34:58 GMT
ablrate 10 days ago we were asked to bare with you as you were adding additional functionality to the website to enable this loan to become tradable. Please can you provide a timescale around how long we should bare with you for? In the event that you have understandably decided to abandon this additional functionality, perhaps you could manage our expectations a little? I'm a little concerned that you are becoming FC when it comes to communication! Sorry but this is a misunderstanding. On 31st Aug Ablrate wrote 'The penalty interest is being added to the end of the loan and will reflect in the final payment. We are working with a few practical issues to make it fair for everyone that is involved, but our number one priority is to get this done and funds returned to lenders along with interest and penalties'. This means that they will not add the extra interest to the cash flows until 29th Sept and therefore the statement meant that the loan would not be tradable, contrary to the admin note. The 'practical issues' might relate to the fact that the 4% uprate was backdated to the start of the first extension and that could have created a problem for those who held this loan during the first extension but sold some or all during the first extension. The backdating may have caused the problem of not being able to trade it now. Not really website functionality.
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Post by ablrate on Sept 16, 2016 13:02:49 GMT
Hi All Thanks for pointing out my atrocious spelling ptr120 Firstly on communication. We have communicated on the forum freely for a long time, and will continue to do so where we can. The issue we are grappling with is the regulatory side of communicating openly in a public forum. There has been discussion about this - should we respond here? Should we repeat all the forums' threads here in the admin section of the loan etc giving everyone the same information... It is a conundrum that we are working on and there does not seem to be a consensus yet, unless I have missed a thread somewhere (please point it out if I have). Maybe its time to have a private section for registered users? As far as email communications not being responded to. Customer Service are very good at responding and we often make responses at weekends and evenings - solving platform issues and customer problems as we can. However, if you feel it would be better, we could re-introduce our ticketing system which would route all urgent inquiries through a structured system. When we had it, people preferred to send emails so we binned it, but as we are now much bigger and handle a lot more inquiries it may be something that we can bring back.... feedback is welcome. Loan I appreciate that people want to trade the loan, but we want to make sure that there is sufficient information for all and the updated interest does make it complex. We will have an update soon, so please bare, beer, bear with us. Best Ablrate
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blender
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Post by blender on Sept 16, 2016 13:45:50 GMT
Will bier with you, ablrate, and trading this close to 29th Sept does seem difficult. However, if by any slim chance there is another extension required, this lender would appreciate it if you would apply the revised cashflows retrospectively on 29th (or even 30th), agree the extension at the same uprated 4% for not less than two months, and restore trading from 1st October for at least a month. Not too much to ask? The security is surely fine - as long as you remove the props.
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james
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Post by james on Sept 16, 2016 13:54:54 GMT
Should we repeat all the forums' threads here in the admin section of the loan etc giving everyone the same information Yes, because it is not appropriate to assume that all lenders read all topics in this place. It would also be good to have a visible last update date for the loan update on the platform to make it easier to monitor just those loans that are of interest with lower time overhead than here. A private section here has uses of course but it's not the place that all investors can be expected and required to read to stay up to date with what is happening with their investments. Private sections can also end up hiding the discussion that potential customers may want to evaluate using a platform before even signing up to an account. That's partly because much discussion will inevitably end up moving into the private section where more free discussion is possible. Though still extremely limited given the policies of this place. It's far from ideal as a private section host where due diligence about loans should be a significant part of discussions, including being able to link to sources and name companies/directors/projects. In essence using this place for such discussions is a way to restrict the due diligence and not really in accord with what I think the FCA wants investors to be able to do: freely discuss the merits and otherwise of the loans or aspects of them. Forget a private section here and go for your own private venue where investors can have proper discussions. An independent place would be better in theory but this place is not suitable because of its policies. So: 1. Updates on the loans on the platform are the source of record for what is happening. 2. A private venue, not here, that allows proper diligence discussion and linking. 3. A public venue here that has more general discussion in accord with the highly restrictive policies that this place operates with regard to evaluating investments properly. Also a place for updates and helping to educate potential as well as current customers via the discussions.
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shimself
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Post by shimself on Sept 16, 2016 16:13:28 GMT
Will bier with you, ablrate,... Beer! Now you're torking
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 16, 2016 16:23:07 GMT
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blender
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Post by blender on Sept 16, 2016 21:26:22 GMT
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stevio
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Post by stevio on Sept 21, 2016 9:20:00 GMT
As this is approximately only 2wks away, ablrate ablrate is this loan still on track to pay back on the 29SEPT16? Are you planning any new loan launches around this time? All joking aside, I believe this loan is due for repayment 29SEPT16, ie now in just 8 days. We should be receiving regular (weekly) updates from you as this draws to completion and notification of any further loan launches where by those wishing to remain invested with AB can make appropriate plans to do so. In contrast to your approach, MT's handling of the Cardiff repayment are a good example of regular communicating with their investors, even when they can only give a best guess, it gives reassurance that we have not just thrown are money into a black hole somewhere. Personally I have been very disappointed with the change in attitude and lack of updates and communications, a shame when I want to invest more on AB
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blender
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Post by blender on Sept 21, 2016 9:41:30 GMT
I agree Stevio, but I think if a sale or deal had been completed Ablrate would have told us. The interest on a 2 month extension is £52k, while the profit to be made on the sale is well over £1m if I remember correctly. You can only sell it once and I imagine the borrower is more concerned with the deal than with the consequent cost of the loan. That's why I am more keen on having it tradable rather than repaid, being locked in is the problem. The interest and security combination is hard to beat - perhaps impossible on p2p platforms.
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Post by ablrate on Sept 22, 2016 13:12:35 GMT
I agree Stevio, but I think if a sale or deal had been completed Ablrate would have told us. The interest on a 2 month extension is £52k, while the profit to be made on the sale is well over £1m if I remember correctly. You can only sell it once and I imagine the borrower is more concerned with the deal than with the consequent cost of the loan. That's why I am more keen on having it tradable rather than repaid, being locked in is the problem. The interest and security combination is hard to beat - perhaps impossible on p2p platforms. Hi Guys We sent a brief update to all last week in a general update and will be following up individually, but just to let you know that the deposit for the aircraft had been received. We will have a full update for individual lenders later today. Regards Ablrate
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johnfleet
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Post by johnfleet on Sept 22, 2016 15:56:22 GMT
I guess I'm not alone in wishing to recycle my imminent funds from the ATR 532 into new loans on the Ablrate platform, just to keep my portfolio diversified if for no other reason. Can I echo the question posed by stevio i.e. is there anything in the pipeline (which appears to be well and truly blocked at the moment!) that would enable me to keep funds with Ablrate? ablrate ?
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hazellend
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Post by hazellend on Sept 22, 2016 18:31:06 GMT
I guess I'm not alone in wishing to recycle my imminent funds from the ATR 532 into new loans on the Ablrate platform, just to keep my portfolio diversified if for no other reason. Can I echo the question posed by stevio i.e. is there anything in the pipeline (which appears to be well and truly blocked at the moment!) that would enable me to keep funds with Ablrate? ablrate ? Depending on how much you want to invest, there is usually something on the secondary market with a long date on it.
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baz657
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Post by baz657 on Sept 22, 2016 18:41:12 GMT
The "kicking its tyres" stage has completed and a holding deposit paid. Now they're getting their AA inspection (other companies are available) carried out and having a better look, both under the bonnet and elsewhere, not forgetting the all important mountain of paperwork which is the service and parts history followed by a test drive or two. Having had experience in the intricacies of inspecting and buying single engined light aircraft I'm sure this process is far more demanding and time consuming. If they managed to complete the deal by the end of October all parties concerned would have done an outstanding job.
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