SteveT
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Post by SteveT on Nov 9, 2016 18:38:14 GMT
OK - thankyou for the above posts - I will buy into this judgement, put myself in a holding pattern and await news. Though please note, like real aircraft, there is a finite time that one can be expected to be locked in a holding pattern. Trading in the loan is not suspended and there is no queued availability. If you're unwilling to wait for as long as is deemed appropriate by AC then I suggest you sell.
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rxdav
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Post by rxdav on Nov 10, 2016 7:55:38 GMT
Quite correct - but there is interest overdue which has not been paid, nor will be until payments resume.
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Post by mrclondon on Nov 10, 2016 12:25:32 GMT
Quite correct - but there is interest overdue which has not been paid, nor will be until payments resume. But that doesn't stop you from selling now, you'll be credited outstanding interest when AC receive it. It is very likely the borrower is going to have some cashflow difficulties for the next few months given all his projects are now several months behind schedule. The compassionate stance is to be grateful that progress on the projects is now resuming and that whilst payments / redemption will be delayed to pray you never have to deal with such personal circumstances yourself. Also worth noting that this borrower has previously completed on time a number of projects with p2p finance with both AC & TC.
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rxdav
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Post by rxdav on Nov 10, 2016 17:39:30 GMT
mrclondon,
1. I have previously sold out this loan and now await the unpaid interest - albeit only a paltry amount I am here solely to make money - not indulge myself.
2. I do not know what the exact 'personal circumstances' of this borrower were/are and do not feel it appropriate to ask - so unlike you (who it seems does know?) I am not in a position to judge - hence my initial post.
3. You are unwise to assume I have had no personal tragedies in my life - as I have (and continued to pay all my debts throughout). If you want chapter and verse for comparative purposes then feel free to message me.
4. If the borrower was/is so personally pivotal to the progress of this development then one might as why 'key man' insurance does not seem to have been required by AC as part of the loan conditions?
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mikes1531
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Post by mikes1531 on Nov 11, 2016 15:26:43 GMT
In case anyone hasn't noticed, the overdue payment seems to have been made at 1411 today.
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rxdav
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Post by rxdav on Nov 11, 2016 16:20:26 GMT
Just seen that thanks - payment due October 18 is now paid - November payment due in seven days.
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Post by bracknellboy on Nov 14, 2016 20:44:42 GMT
rxdav: if its of any help - and it may well not be - the TC vote on their loan came out in favour of the proposal which is best described as 'giving them leeway'. By 99.73% to 0.27% - of those who voted, on same basis as AC do their votes (value of participation). And for TC (and indeed AC) a surprisingly high turnout (70%+).
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