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Post by jevans4949 on Mar 15, 2018 12:14:32 GMT
I chuckled on reading yesterday's update to this sorry default (#86). There can't be many P2P loans out there where the next step in the recovery plan involves waiting for the borrower's release from prison... SteveT - gawd this is an old one that fortunately I managed to get out of before everything hit the fan. Having a peep at the activity, surely this should now be formally defaulted.
I know it will affect the perfect record stats at AC but seems to me as not formally defaulting especially in view of the legal advice received is living in fools paradise.
Suppose there might be hope of him inheriting a wad from his family, but even that seems unlikely.
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trouble
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Post by trouble on Mar 15, 2018 17:18:40 GMT
hmnnnnn, perhaps it might just go away with the fairies
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trouble
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Post by trouble on Nov 4, 2018 13:43:20 GMT
Can't remember the last decent update and it's 2 years since the Activity page mentioned the valuer. As AC have had the update from a solicitor that the guarantor isn't worth anything then in my view the loss is crystallized, so a decision on action or not against the valuer should be being taken or this loan should be formally killed off.
As I'm not on the private board, is there anything of interest on there?
thanks
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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 Nov 4, 2018 13:53:53 GMT
Can't remember the last decent update and it's 2 years since the Activity page mentioned the valuer. As AC have had the update from a solicitor that the guarantor isn't worth anything then in my view the loss is crystallized, so a decision on action or not against the valuer should be being taken or this loan should be formally killed off. As I'm not on the private board, is there anything of interest on there? thanks nope.
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trouble
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Post by trouble on Nov 4, 2018 16:40:56 GMT
Can't remember the last decent update and it's 2 years since the Activity page mentioned the valuer. As AC have had the update from a solicitor that the guarantor isn't worth anything then in my view the loss is crystallized, so a decision on action or not against the valuer should be being taken or this loan should be formally killed off. As I'm not on the private board, is there anything of interest on there? thanks nope. Thanks, suppose i could have expected that to be the case. AC really don't want to say anything on this one do they? Wonder why?
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ton27
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Post by ton27 on Nov 5, 2018 12:46:47 GMT
You may prompt some sort of response by using the Q and A.
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trouble
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Post by trouble on Apr 4, 2019 19:56:36 GMT
I've just read the Q&A, and the AA springs to mind - Avoiding Answering  |
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trouble
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Post by trouble on Jun 29, 2019 1:04:26 GMT
Just read the Q&A again, AA is still the response ............. avoiding the questions and kicking the can down the road!!! But the borrower is free |
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trouble
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Post by trouble on Aug 28, 2019 17:51:28 GMT
Update due 20th August, tumbleweed so far, will the can be kicked down the road or proper action taken this time?
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ashtondav
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Post by ashtondav on Aug 29, 2019 6:44:28 GMT
One for the legendary Provision Fund?
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SteveT
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Post by SteveT on Aug 29, 2019 7:02:13 GMT
One for the legendary Provision Fund? This one is so old that most / all of it sits with MLA lenders, IIRC.
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sl75
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Post by sl75 on Aug 29, 2019 10:02:55 GMT
One for the legendary Provision Fund? This one is so old that most / all of it sits with MLA lenders, IIRC. A tiny amount is held by the access accounts... based on various assumptions about how these accounts work internally, my calculations suggest less just a little over £8 collectively, shared across all investors in all of the access accounts (i.e. all but the biggest investors would have only a fraction of a penny exposure).
I don't think an eventual payout of whatever fraction of that £8 can't be recovered by other means will put much of a dent in that fund, especially given that the anticipated loss should already be ringfenced within the relevant PFs.
Don't know about GBBA1 etc. as I never used those, but I do know that units of this loan were being actively bought and sold at least as late as January 2016.
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trouble
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Post by trouble on Aug 30, 2019 0:06:50 GMT
One of those loans that made an original MLA lender take a backward step, burned once, never again, the action (and updates) by AC have been woeful.
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