elliotn
Member of DD Central
Posts: 3,064
Likes: 2,681
|
Post by elliotn on Dec 13, 2023 9:48:58 GMT
I feel the same until things like this happen. Once again everyone else getting rich off of our money. What are the chances of ever seeing a breakdown of what was received and how that money was distributed, £550,000 returned to investors on a building valued at £4 million less than 6 years ago leaves a lot of money unaccounted for. You mean breakdown other than the one provided? Fcking. Gold. Dust. #coefficient
|
|
toffeeboy
Member of DD Central
Posts: 538 
Likes: 385
|
Post by toffeeboy on Dec 13, 2023 10:00:12 GMT
I feel the same until things like this happen. Once again everyone else getting rich off of our money. What are the chances of ever seeing a breakdown of what was received and how that money was distributed, £550,000 returned to investors on a building valued at £4 million less than 6 years ago leaves a lot of money unaccounted for. You mean breakdown other than the one provided? That's the one, I didn't click on the read more So property sold for less than 44% of valuation and investors got just over 32% of the proceeds. How many loans are there still that are paying, going to pay, £500 a month to maintain a platform that doesn't seem to change at all? More questions than answers as always in particular the realisation fee and legality of it.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,545
|
Post by ilmoro on Dec 13, 2023 12:40:15 GMT
Well at least I've got all you guys to share the feeling of being mugged with. I really feel that we should all go to a nice pub together and share the gloom. But nobody can afford to get a round in anymore. Thanks, Moneything, I guess you're not buying.
If any administrator doesn't produce a detailed costs report of where the money went or how the value disappeared then you know it's fraud.
This company has never been mentioned on 4thway AFAIK which means they had plenty to hide and the location (not the only one) is somewhere I stopped P2P investing in years ago.
Ah its panto season.😁 Oh yes it has www.4thway.co.uk/candid-opinion/moneything-review/Most sites were on their list at some point ... though not necessarily with ratings or reviews ...
|
|
|
|
Post by davidspindle on Dec 13, 2023 13:41:04 GMT
The withdrawal function now appears to work for this loan.
|
|
DeafEater
Member of DD Central
Extremely Moderate
Posts: 228
Likes: 304
|
Post by DeafEater on Dec 13, 2023 16:51:38 GMT
I may be being impatient, but even though I requested the withdrawal yesterday, the amount of the withdrawal is shown by their website as sitting in 'Frozen Funds'. Have other people had their withdrawal requests processed and if so, is there some magical incantation I can mutter to move it along?
|
|
eeyore
Member of DD Central
Posts: 798
Likes: 805
|
Post by eeyore on Dec 13, 2023 17:04:47 GMT
I may be being impatient, but even though I requested the withdrawal yesterday, the amount of the withdrawal is shown by their website as sitting in 'Frozen Funds'. Have other people had their withdrawal requests processed and if so, is there some magical incantation I can mutter to move it along? I too requested a withdrawal yesterday (c14:30) - it's still in the "frozen funds", presumably waiting for the next scheduled batch of cash transfers.
|
|
|
|
Post by davidspindle on Dec 13, 2023 17:19:16 GMT
I may be being impatient, but even though I requested the withdrawal yesterday, the amount of the withdrawal is shown by their website as sitting in 'Frozen Funds'. Have other people had their withdrawal requests processed and if so, is there some magical incantation I can mutter to move it along? When I tried to withdraw yesterday i got a pop-up saying something like 'Withdrawals are suspended while accounts are being rolled over' . Today's attempt seemed to work but, after seeing your post, I logged in again and found it had moved to 'frozen'. I guess we just have to 'roll over'and wait.
|
|
DeafEater
Member of DD Central
Extremely Moderate
Posts: 228
Likes: 304
|
Post by DeafEater on Dec 13, 2023 17:19:33 GMT
I may be being impatient, but even though I requested the withdrawal yesterday, the amount of the withdrawal is shown by their website as sitting in 'Frozen Funds'. Have other people had their withdrawal requests processed and if so, is there some magical incantation I can mutter to move it along? I too requested a withdrawal yesterday (c14:30) - it's still in the "frozen funds", presumably waiting for the next scheduled batch of cash transfers. Thanks for the reassurance eeyore. I remember the days when you could request a withdrawal from MT and it was in your bank 10 minutes later. Perhaps we aren't contributing enough to the administration kitty... 
|
|
|
|
Post by Badly Drawn Stickman on Dec 13, 2023 17:22:03 GMT
I may be being impatient, but even though I requested the withdrawal yesterday, the amount of the withdrawal is shown by their website as sitting in 'Frozen Funds'. Have other people had their withdrawal requests processed and if so, is there some magical incantation I can mutter to move it along? I too requested a withdrawal yesterday (c14:30) - it's still in the "frozen funds", presumably waiting for the next scheduled batch of cash transfers. The payment for the remaining live loan paid on the 8th is still pending as well, which is not unusual Friday often seems to be the 'can be bothered' day for payments. Lets not forget they are mainly doing this as a favour.........
|
|
archie
Posts: 1,865
Likes: 1,860
|
Post by archie on Dec 13, 2023 18:03:14 GMT
In January 2021 in an email titled 'Lender Payments' they wrote :-
|
|
keitha
Member of DD Central
2024, hopefully the year I get out of P2P
Posts: 4,587
Likes: 2,622
|
Post by keitha on Dec 13, 2023 21:03:58 GMT
LOL is that the what 3 words for the site
|
|
|
|
Post by nbk on Dec 15, 2023 12:39:09 GMT
Why are funds still showing as 'Frozen'. Is there anyway we can get them released ??
|
|
|
|
Post by ladywhitenap on Dec 15, 2023 14:08:30 GMT
Why are funds still showing as 'Frozen'. Is there anyway we can get them released ?? NO you can't. observe how the site works. Once you have requested a withdrawal those funds are frozen (ie allocated) ready to pay out to you the next time they do a pay out run.
|
|
|
|
Post by maxm2023 on Dec 15, 2023 16:58:05 GMT
I emailed support@moneything.com and moneythinglenders@moorfieldscr.com , they said the funds would arrive either yesterday evening or today (Nothing yet)
|
|
mah
Member of DD Central
Posts: 354
Likes: 386
|
Post by mah on Dec 17, 2023 19:47:35 GMT
So property sold for less than 44% of valuation and investors got just over 32% of the proceeds. How many loans are there still that are paying, going to pay, £500 a month to maintain a platform that doesn't seem to change at all? More questions than answers as always in particular the realisation fee and legality of it. It's actually 22.3%, not 32%. And the Funds are showing as Frozen.
£153K Property Costs ??
£50K Funding Costs - Is it just to Fund £153K above (as the rest are only payable on receipt of sale proceds) ?? Who is/are the UN1 Holder(s) ? Platform Maint Fee @£500/month- Is it per Loan per month ? ? ?
20 % (17 +3) Realisation Fee - what's that on top of 2% + 3% Default + Maint Fees + Disbursements ? ? ?
Having said that, this is the 1st (probable?) payment from MT in 16 months !
|
|
