ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Apr 18, 2020 13:43:05 GMT
Yes, the Art Loans.
I recall Mousey uncovered the unbridled and gob-smacking gross incompetence behind those.
In fact, @mousy performs superb due diligence and is very, VERY good at uncovering stuff.
Then duly reporting his findings on here.
"Thank you", we Salute you Mousy!!! đź‘Ť
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Mucho P2P
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Post by Mucho P2P on Apr 25, 2020 21:40:33 GMT
I often wonder how many Lenders on here actually know what they are talking about and have any business experience? At all?Or even possess even a modicum of just plain common sense? Once a Loan is past 90 days overdue the rule of thumb (obviously there are individual exceptions) is that it is never going to pay back and will eventually Default, so at 91 days you Default. And you go in HARD.But no, certain Posters on here always know better and always agree with offering endless forbearance. They have NO idea. Oh, and Shills and Vested Interests abound. Yours, OzBoy. Cannot agree with you more ozboy. Having worked for HNWs in reclaiming their assets and overdue loans in the past, I can categorically state that borrowers will come up with any rubbish not to pay, let alone, on time. The financial standing of the borrower makes little difference in most cases I was involved in. The more the borrower had financially (and thought they could get away with it), the less they were likely to repay, let alone on time. I was Mr Nice Guy year ago, did not take me too long to realise that once people see there is a soft target, the excuses on why they cannot pay on time just flowed non-stop. I could write a book I have received so much baloney. It left me no choice but to come down on them hard (1 exception only, as irrefutable proof of the "excuse" was supplied). Hence, payment on time, or if 14 days late...... time’s up. Now I have a lot less problems with late payers. Word goes around fast, just as it did with FS, the easy target P2P.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,156
Likes: 4,830
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Post by ozboy on Apr 26, 2020 10:59:46 GMT
You get it Mucho P2P. đź‘Ť As do a few others on here.
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adrian77
Member of DD Central
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Post by adrian77 on Jun 22, 2020 11:17:13 GMT
Just had a quick look at the web sites for these boats - clicked on "news" and it hung - went to FB and latest post is April 2019 - what no news of this imminent sponsorship - I could hardly believe it NOT! I just can't se any other option than a fire sale here - I know hindsight is easy but shame this was not done years ago.
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Post by rebull on Aug 7, 2020 8:18:47 GMT
40% accepted as long as it's within 3 months. It's nearly 4 months now and not even an email to say you've been stitched up again
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adrian77
Member of DD Central
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Post by adrian77 on Aug 7, 2020 8:47:09 GMT
This one is a joke and at best I predict a 90% capital loss.
Things seems to be extremely quite on the administrators front - wonder if they are on holiday ?
Time we had a few more updates as a lot of us have zombie loan books and would like to know what is happening.
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squid
Member of DD Central
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Post by squid on Aug 7, 2020 10:20:31 GMT
Update now on website.
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Aug 7, 2020 10:23:44 GMT
Just wondering, after this and recent "updates", is anyone any wiser as to whether there actually is ONE or TWO boats?
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SteveT
Member of DD Central
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Post by SteveT on Aug 7, 2020 10:28:38 GMT
Just wondering, after this and recent "updates", is anyone any wiser as to whether there actually is ONE or TWO boats? Today's update refers to 'boats' (plural)
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Aug 7, 2020 10:33:30 GMT
Just wondering, after this and recent "updates", is anyone any wiser as to whether there actually is ONE or TWO boats? Today's update refers to 'boats' (plural) Ah, thanks for that. Spotted it now, ".....Legal mortgage over the boatS".
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Post by brightspark on Aug 7, 2020 12:18:50 GMT
Wishful thinking. Pie in the sky. Kicking the can again.
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Mucho P2P
Member of DD Central
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Post by Mucho P2P on Aug 7, 2020 13:03:03 GMT
Wishful thinking. Pie in the sky. Kicking the can again. Could not agree with you more brightspark . One ability that the majority of borrowers in these heavily overdue loans have all been “blessed” with, it’s the ability to talk themselves out of repayments and procrastinate till kingdom come for the purpose of avoiding the inevitable, then to repurchase the asset back at an amount that is less than they received from the lenders in the first instance.
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adrian77
Member of DD Central
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Post by adrian77 on Aug 7, 2020 13:40:40 GMT
As a matter of interest could somebody tell me either by PM or posting on FS DD what the update is - assuming it is just not hot air with no sign of the readies
I thank you.
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r00lish67
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Post by r00lish67 on Aug 7, 2020 13:52:21 GMT
As a matter of interest could somebody tell me either by PM or posting on FS DD what the update is - assuming it is just not hot air with no sign of the readies I thank you. Wait. You've been posting about this particular loan for several years, and you're not actually even in it?! It seems you're not. Or then again, maybe you are. But if you haven't received the e-mail and can't get to it on the website, I assume you're not - ? Or...
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iRobot
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Post by iRobot on Aug 7, 2020 14:00:55 GMT
As a matter of interest could somebody tell me either by PM or posting on FS DD what the update is - assuming it is just not hot air with no sign of the readies I thank you. Here's a teaser for you: " An initial instalment has been received by the Administrators." Now... was it large enough that your 90% loss estimate has already been proven incorrect? Answers on a digital postcard.
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