ilmoro
Member of DD Central
'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 Jul 6, 2018 9:48:55 GMT
Confirmation Statement filed and two months earlier than last year so wont get a gazzette notice for that this year.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,906
Likes: 11,128
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Post by ilmoro on Jul 7, 2018 8:44:56 GMT
Compulsory strike off discontinued which may indicate accounts filed though nothing showing.
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Post by ladywhitenap on Jul 7, 2018 9:10:01 GMT
And I note that settlement date slipped another week without comment from MT!
LW
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r00lish67
Member of DD Central
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Post by r00lish67 on Jul 7, 2018 10:12:54 GMT
And I note that settlement date slipped another week without comment from MT! LW But, you have had plenty of time to escape already, right? Or are you still riding the storage unit rollercoaster?
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Post by funkymonkey on Jul 7, 2018 17:43:02 GMT
Still paying the interest though, so long as that continues!
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Post by elephantrosie on Jul 7, 2018 20:42:26 GMT
Got out of this loan few months ago and had not pay notice on it until today. I was not aware that this loan is still in existence.
Now at an attractive 18% But would it ever repays?
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Post by funkymonkey on Jul 7, 2018 21:23:52 GMT
Got out of this loan few months ago and had not pay notice on it until today. I was not aware that this loan is still in existence. Now at an attractive 18% But would it ever repays? Does it matter if it never repays, if the interest is being serviced?
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Post by elephantrosie on Jul 7, 2018 21:52:04 GMT
Got out of this loan few months ago and had not pay notice on it until today. I was not aware that this loan is still in existence. Now at an attractive 18% But would it ever repays? Does it matter if it never repays, if the interest is being serviced? Yes, at least to me.
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eeyore
Member of DD Central
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Post by eeyore on Jul 8, 2018 8:28:46 GMT
Does it matter if it never repays, if the interest is being serviced? Hmm, an annuity that pays 18%? Sounds too good to be true!
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keystone
Member of DD Central
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Post by keystone on Jul 8, 2018 10:25:23 GMT
At some point it will either pay up and everything will be fine or it will fail to pay and you could end up losing more than the 18% its currently paying. I sold up a few month ago, it is a high risk game but too high for me. Good luck to those still in it.
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Post by elephantrosie on Jul 8, 2018 21:42:49 GMT
Long may it stays paying 18%! Lol
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andy1
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Post by andy1 on Jul 11, 2018 11:23:33 GMT
So now it might sell at auction in September!!!!
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amwinv
Member of DD Central
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Post by amwinv on Jul 11, 2018 15:20:21 GMT
I don't think I ever really managed to get my head round this loan.
They took out the loan 2 years ago to purchase the building, with an aim to buying the business within shortly after. (Did that ever happen?)
They have now paid 20 months at 12% plus the last 4 months at 18% (Plus whatever MT takes)
Now after aaaaaall this time of trying a host of avenues to refinance or sell, they are giving up and auctioning.
For the sake of people still in the loan, I'm glad they have at least continued paying the interest monthly. But with a seemingly almost forced auction as a last resort, it just kind of feels like a default that never officially defaulted. This must result in a massive loss for the borrower right? Or am I missing something? Would the rents received have totalled more than the interest paid? Or was it just a bad investment on their part?
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jlend
Member of DD Central
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Post by jlend on Jul 11, 2018 16:34:49 GMT
So now it might sell at auction in September!!!! For a time I used to work at the head office for the group company who owned this auction. From memory up to about a third of the lots went unsold on any day. Others will have more experience of these things than me though I must admit.
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Post by ladywhitenap on Aug 14, 2018 11:32:04 GMT
MoneyThing There has been no news on the MT site since 13th July. Please can we have an update on both the Auction date booking and the potential sale progress before auction. However realistic it is to just keep slipping the end date by a week per week, I do feel it is a little unprofessional not to provide updates each time you do this. Thanks LW
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