ptr120
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Post by ptr120 on Sept 19, 2017 8:29:56 GMT
How long do you expect these responses to take? Having already identified that there are issues regarding security on two loans, I'd have thought that this would be treated as more of a priority, and I'd really like to hear the post-mortem on this loan too. We are awaiting representations from the borrower's legal representatives, and that is not something we have any control over. Hi ablrate another two weeks on and we still have no further progress here. As the validity of the security of certain loans has been called in to question I am a little surprised that this isn't being treated with more urgency. Please can you provide the promised update as to what happened in the case of the holiday park loan, and what will happen with the two loans at question? It would certainly give me and no doubt others further confidence in continuing to invest via the platform.
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blender
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Post by blender on Sept 19, 2017 9:37:23 GMT
The borrower's legal representatives receive their instructions from the borrower and are not answerable to Ablrate. I guess the position with this borrower is delicate and the priority is the other existing loans, rather than displaying the content of the drains opened. Presumably the required charges are in place on the existing loans. The necessary action has clearly been taken - from the recent loans offered.
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ptr120
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Post by ptr120 on Sept 19, 2017 11:51:32 GMT
The borrower's legal representatives receive their instructions from the borrower and are not answerable to Ablrate. I guess the position with this borrower is delicate and the priority is the other existing loans, rather than displaying the content of the drains opened. Presumably the required charges are in place on the existing loans. The necessary action has clearly been taken - from the recent loans offered. Your first point may be true, but I'd expect Ablrate to be putting some pressure on the borrower. Your assumption that the charges are all in place was not the case when I last checked, and I don't agree that the necessary action has clearly been taken - we haven't seen any new loans via ACF / APF since the issue came to light.
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blender
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Post by blender on Sept 19, 2017 12:28:36 GMT
The borrower's legal representatives receive their instructions from the borrower and are not answerable to Ablrate. I guess the position with this borrower is delicate and the priority is the other existing loans, rather than displaying the content of the drains opened. Presumably the required charges are in place on the existing loans. The necessary action has clearly been taken - from the recent loans offered. Your first point may be true, but I'd expect Ablrate to be putting some pressure on the borrower. Your assumption that the charges are all in place was not the case when I last checked, and I don't agree that the necessary action has clearly been taken - we haven't seen any new loans via *** / *** since the issue came to light. If charges which should be in place are still not in place on current loans then that is a serious matter which requires an answer and action. I think the fact that we have not seen further loans but have seen new (direct) borrowers is an indication of change. Or I like to think so.
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ptr120
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Post by ptr120 on Oct 6, 2017 8:04:13 GMT
Morning ablrate are we ever going to get the promised postmortem and update on the two loans in question? For the loan that repaid yesterday, has Ablrate settled this themselves, or has the borrower actually repaid?
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ptr120
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Post by ptr120 on Oct 10, 2017 7:57:08 GMT
Morning ablrate are we ever going to get the promised postmortem and update on the two loans in question? For the loan that repaid yesterday, has Ablrate settled this themselves, or has the borrower actually repaid? The silence is deafening ablrate
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blender
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Post by blender on Oct 10, 2017 8:49:43 GMT
The first part, yes. But the second part - that a platform operator might cover up a loss or potential loss with an undeclared ex-gratia payment? That cannot be a serious suggestion?
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ptr120
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Post by ptr120 on Oct 10, 2017 8:53:31 GMT
That cannot be a serious suggestion? Very serious. It has since come to light on another platform that that platform was in fact making monthly payments to borrowers rather than defaulting a loan.
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blender
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Post by blender on Oct 10, 2017 9:04:14 GMT
You mean to lenders? Without declaring it? Pretending that the borrower had paid when they had not? Totally improper, imo.
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Post by ablrate on Oct 10, 2017 9:07:54 GMT
You mean to lenders? Without declaring it? Pretending that the borrower had paid when they had not? Totally improper, imo. I can assure you this was not the case here. We still await information from a legal entity involved before we can make comment further.
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shimself
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Post by shimself on Oct 10, 2017 14:23:38 GMT
That cannot be a serious suggestion? Very serious. It has since come to light on another platform that that platform was in fact making monthly payments to borrowers rather than defaulting a loan. Oh go on do say PM if you feel you should. Thanks
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macq
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Post by macq on Oct 10, 2017 14:31:18 GMT
Morning ablrate are we ever going to get the promised postmortem and update on the two loans in question? For the loan that repaid yesterday, has Ablrate settled this themselves, or has the borrower actually repaid? There is enough to worry about in p2p without you using the word postmortem
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blender
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Post by blender on Oct 10, 2017 14:48:47 GMT
You mean to lenders? Without declaring it? Pretending that the borrower had paid when they had not? Totally improper, imo. I can assure you this was not the case here. We still await information from a legal entity involved before we can make comment further. Thank you for knocking that one on the head.
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stevio
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Post by stevio on Oct 10, 2017 15:01:56 GMT
Very serious. It has since come to light on another platform that that platform was in fact making monthly payments to borrowers rather than defaulting a loan. Oh go on do say PM if you feel you should. Thanks It would be useful for other lenders to know who you are referring too, if not confirmed, then please feel free to PM
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ptr120
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Post by ptr120 on Oct 10, 2017 15:35:13 GMT
MT paid interest (but not capital) on a now defaulted bridging loan but didn't declare it to investors at the time it did so. I have no reason at all to doubt the response from Ablrate above but I would like to know what the issue was with the holiday lodge loan (I believe we were promised this). Also the two loans that Ablrate noted - I think back in August - that had potential security issues, and may pay back early. We've heard several rounds of 'waiting for information' now. All I would like to know is what is going on, and is the security still at risk?
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