criston
Member of DD Central
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Post by criston on Oct 29, 2020 10:42:14 GMT
If the payment doesn’t arrive perhaps moneything could try a bit harder to pay the half month they already have which is supposedly impossible Surely the borrower needs to pay all 7 months arrears. Otherwise, how do they get refinance. 9 months arrears by 24/12/20 is £319000 If believable, this refinance would have been going on for months with valuations, surveyors reports, credit checks, checking records with previous lenders, ie Moneything. Therefore, if believable, Moneything would have known about the revised proposition for some time. Why did Moneything give them another 2 months, a month beyond the date given by the borrower ?
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hazellend
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Post by hazellend on Oct 29, 2020 13:14:37 GMT
This borrower is taking the piss. Fine, MT have thrown them some rope but any more messing around and this should be defaulted.
I don’t think I’ve seen a case of “we think this is the most likely way to get borrowers money back” have a better outcome than default ever.
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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
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Post by ilmoro on Oct 29, 2020 19:31:06 GMT
This borrower is taking the piss. Fine, MT have thrown them some rope but any more messing around and this should be defaulted. I don’t think I’ve seen a case of “we think this is the most likely way to get borrowers money back” have a better outcome than default ever. Assume you mean lenders money and recovery through insolvency process as the loan is already in default. If I am understanding your point correctly AC have done quite a few of these prolonged solvent recoveries giving better outcomes than insolvency - one this week in fact.
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hazellend
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Post by hazellend on Oct 30, 2020 7:21:25 GMT
Today is the day for a measly 0.5% interest. Any excuse should be denied now if it’s not forthcoming.
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Post by Badly Drawn Stickman on Oct 30, 2020 12:11:48 GMT
Today is the day for a measly 0.5% interest. Any excuse should be denied now if it’s not forthcoming. We could have the interesting scenario where they can only manage a 0.25% payment due to >insert excuse of choice<. That could produce a dilemma.
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averageguy
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Post by averageguy on Oct 30, 2020 14:26:43 GMT
Today is the day for a measly 0.5% interest. Any excuse should be denied now if it’s not forthcoming. We could have the interesting scenario where they can only manage a 0.25% payment due to >insert excuse of choice<. That could produce a dilemma. 0.49% would be interesting
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mw
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Post by mw on Oct 30, 2020 15:13:11 GMT
Ooh payment 👍
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mikeh
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Post by mikeh on Oct 30, 2020 15:30:30 GMT
Looks like 29 days at 17%.
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mw
Member of DD Central
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Post by mw on Oct 30, 2020 17:12:28 GMT
Looks like 29 days at 17%. Yes mine was a little short this time.. £18.91 today but £20.22 payments on last two occasions.
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radar
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Post by radar on Oct 30, 2020 18:03:30 GMT
2020 is a leap year and this was February interest 29 days correct
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mah
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Post by mah on Oct 31, 2020 20:21:07 GMT
Ah, finally, after 3 months, a few quids in - great progress MT !
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mw
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Post by mw on Nov 24, 2020 11:33:30 GMT
Silly question are we due 50% today on this loan?
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sam i am
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Post by sam i am on Nov 24, 2020 12:46:45 GMT
Silly question are we due 50% today on this loan?
That is correct according to the 28/10/20 update on the platform (50% monthly interest contribution).
In addition and maybe more importantly the borrower should have received and accepted a formal offer of refinance and entered into legals by today.
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withnell
Member of DD Central
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Post by withnell on Nov 24, 2020 14:18:22 GMT
Silly question are we due 50% today on this loan?
That is correct according to the 28/10/20 update on the platform (50% monthly interest contribution).
In addition and maybe more importantly the borrower should have received and accepted a formal offer of refinance and entered into legals by today.
50% is due to be paid to MT - however as MT can't pay out half interest payments lenders won't receive anything in accounts
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tony9239
Member of DD Central
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Post by tony9239 on Nov 24, 2020 16:47:40 GMT
Silly question are we due 50% today on this loan?
That is correct according to the 28/10/20 update on the platform (50% monthly interest contribution).
In addition and maybe more importantly the borrower should have received and accepted a formal offer of refinance and entered into legals by today.
Ah yes, but 28/10 was before the latest lockdown, so there's a tailor-made excuse for not meeting the conditions and a further kick of the can into next year. Hope I'm wrong, of course.
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