jlend
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Post by jlend on Jan 22, 2019 7:46:46 GMT
Hi MoneyThingIs repayment on track for before 31st Jan next week? Thanks
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rxdav
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Post by rxdav on Jan 22, 2019 12:04:07 GMT
I too would like an answer to this question - it is to be 31st January latest as previously stated - or is it to be another er, well, maybe, perhaps, actually it's not our fault guv honest (or similar)!?!? Needless to say I (and I suspect most others trapped in this 'Hotel California' loan) would prefer the former - but regrettably I have become rather inured to the latter - no more disappointments please MT - enough is enough.
P.S. Just a reminder - it's now only seven (7) working days to that deadline.
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cedarcourtcapital
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Listening is not the same as understanding
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Post by cedarcourtcapital on Jan 22, 2019 14:15:54 GMT
I think lenders who jump up and down, throwing hissy fits when loans do not repay on time, even after indications have been given that they will, are just plain naïve, and probably should not be investing in P2P for the sake of their blood pressure.
I am not suggesting it is right that loans do not repay on time or when rescheduled to repay. I am just re-emphasising the point that late repayments of property related loans are a sad fact of P2P life. Anyone who believe the platform holds the upper hand in these situations is delusional. It is a sad fact that in most cases the borrowers know the platform is not going to default the loan in the short term, and will acquis to 'kicking the can' when a positive impression of the future can be painted. Platforms do have an end to their patience, but this a lot further down the road than most lender's.
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Post by mrclondon on Jan 24, 2019 21:45:45 GMT
On the otherhand, given there is evidence via the LR alert service that a legal search against at least one of the titles was undertaken earlier this week (22nd) it seems entirely reasonable to me to simply give the borrower and the new lender a small amount of additional time to complete the legal process. The evidence in the public domain supports the contention from the borrower that the refinance legals are underway.
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amwinv
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Post by amwinv on Jan 24, 2019 22:55:34 GMT
rxdav I'd fully support you saying this stuff on the Newc-u-lyme fiasco. They haven't paid interest in what .. 9 months? I think the borrower must have some compromising pictures of important people at MT towers. Otherwise I have no idea how they are getting away with it. But Liverpool has pretty much always kept up to date with interest (until now), hasn't it? If it's paying interest, it's fine for dates to push and slide. Why would you be in such a hurry for all your interest-paying loans to end? Then you'd just have to find another home for them anyway!
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Post by MoneyThing on Jan 25, 2019 9:35:00 GMT
Morning. Just to clarify that this loan was extended on the 8th November by three months from the 24th November. As such, our update from yesterday did not extend the loan. Kind regards, Ed.
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rxdav
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Post by rxdav on Jan 25, 2019 11:15:42 GMT
Morning. Just to clarify that this loan was extended on the 8th November by three months from the 24th November. As such, our update from yesterday did not extend the loan. Kind regards, Ed. 07/12/2018 Further to the last update, legals are progressing well and completion & repayment set for before 31st January 2019. 24/01/2019 This account is now in arrears and is therefore non-performing.
Our solicitors are in contact with the borrower’s solicitors in preparation for the repayment of the loan. We have been advised by the borrower’s solicitor that the legals may now run into early February although they are still aiming for the end of this month
Your quotes MT - not mine. Can I suggest you concentrate on lowering expectations and focus on over delivering - it would make a pleasant change!?
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brush
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Post by brush on Jan 25, 2019 12:24:45 GMT
Now performing.
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withnell
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Post by withnell on Jan 25, 2019 16:57:12 GMT
Morning. Just to clarify that this loan was extended on the 8th November by three months from the 24th November. As such, our update from yesterday did not extend the loan. Kind regards, Ed. 07/12/2018 Further to the last update, legals are progressing well and completion & repayment set for before 31st January 2019. 24/01/2019 This account is now in arrears and is therefore non-performing.
Our solicitors are in contact with the borrower’s solicitors in preparation for the repayment of the loan. We have been advised by the borrower’s solicitor that the legals may now run into early February although they are still aiming for the end of this month
Your quotes MT - not mine. Can I suggest you concentrate on lowering expectations and focus on over delivering - it would make a pleasant change!?
Unless the legals run beyond 24th Feb, I don't get how they're not delivering? The 31st Jan is clearly an expectation for repayment, not a legal change to the end date of the loan
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rxdav
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Post by rxdav on Jan 26, 2019 8:53:03 GMT
07/12/2018 Further to the last update, legals are progressing well and completion & repayment set for before 31st January 2019. 24/01/2019 This account is now in arrears and is therefore non-performing.
Our solicitors are in contact with the borrower’s solicitors in preparation for the repayment of the loan. We have been advised by the borrower’s solicitor that the legals may now run into early February although they are still aiming for the end of this month
Your quotes MT - not mine. Can I suggest you concentrate on lowering expectations and focus on over delivering - it would make a pleasant change!?
Unless the legals run beyond 24th Feb, I don't get how they're not delivering? The 31st Jan is clearly an expectation for repayment, not a legal change to the end date of the loan withnell: Fundamentally you are correct - and I don't dispute what you say However, there are (amongst other iterations) two basic approaches to its clients by a business. The first is to 'over promise' and then 'under deliver', the second it to 'under promise' and then 'over deliver'. I'll let you be the judge of which category seems to apply to statements from MT such as '......legals are progressing well and completion & repayment set for before 31st January' - rapidly followed by 'We have been advised by the borrower's solicitor that the legals may now run into early February although they are still aiming for the end of this month' (which given it's 26th January as I type - and of course a none working day tomorrow (27th January) and hence 28th January before the office door is likely even opened - leaving a maximum of four working days left in January- although theoretically it is possible I accept (and I would be delighted if it was).
However, I note that as yet nobody has taken up my offer to accept a cash bet that this loan won't repay prior to the end of February (not January) - doesn't say much for the confidence of those MT cheerleaders here - does it?
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micky
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Post by micky on Jan 26, 2019 23:42:14 GMT
Silly.
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Post by captainconfident on Jan 27, 2019 12:51:17 GMT
Silly vegan sausages. It's still January.
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gwenynwyr
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Post by gwenynwyr on Jan 27, 2019 17:36:37 GMT
No word from MT - sensibly
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cedarcourtcapital
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Listening is not the same as understanding
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Post by cedarcourtcapital on Jan 28, 2019 13:10:45 GMT
gwenynwyr…. If that was the point of your post I completely agree, why waste their time. As I have suggest often enough on other threads I would rather MT spent their limited time productively engaging in their business.
The alternative is to keep everyone up to date with every twist and turn of a loan. This then causes more questions because the expectations of some borrowers is raised to what I, note I, consider to be an unrealistic level. As has been mooted if lenders are going to get upset when information supplied by the borrowers proves to be untrue, what should MT do, just report hard facts - how many of then are there in P2P world?
On the subject of information, at present where there is a long sale queue, or the loan is in default so untradeable, I consider nothing can actually be done with information, so why worry about a lack of it. Things for MT will become a lot different when variable pricing comes in, then any and all information will become vital, and I expect the clamour for it, and of course it's accuracy to be well and truly scrutinised. We have been promised that there will be no favourites, and I trust that, but what will happen when 'indications' given prove not to be true.
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star dust
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Post by star dust on Jan 29, 2019 1:42:53 GMT
Mod Hat On/ Enough - I'm locking this thread overnight. Winter is coming, I suggest you all go and chill out somewhere, any more playground antics or flying snowballs or mud found elsewhere might result in time in the freezer. Play nicely now.
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