hazellend
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Post by hazellend on Jul 27, 2020 13:02:27 GMT
Yep. All handled very unprofessionally, should have been Defaulted yonks ago, what was going on was crystal clear. Platforms will never learn, but then, it's not their money. Good to know that NEX are another bunch of financial <redacted>
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7d7
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Post by 7d7 on Jul 27, 2020 13:13:19 GMT
In principle, forbearance is sensible if there is a concrete exit plan. With MT, it is far from it.
To add insult to injury, they apply their fees that they state cover litigation and other costs during this so called forbearance period.
It's like being advised periodically to wait for an unconfirmed train ticket on a platform. When the ticket fails to materialise, you are then charged for waiting.
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cwah
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Post by cwah on Jul 27, 2020 13:24:02 GMT
Yep. All handled very unprofessionally, should have been Defaulted yonks ago, what was going on was crystal clear. Platforms will never learn, but then, it's not their money. Good to know that NEX are another bunch of financial <redacted> NEX? As national express? I didn t read all
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Jul 27, 2020 13:33:19 GMT
Good to know that NEX are another bunch of financial <redacted> NEX? As national express? I didn t read all No, but you're half right in that we've all been taken for a ride
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tommo
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Post by tommo on Jul 27, 2020 13:39:48 GMT
Interested to know how much progress has been made onsite.
They made a statement in May on the exchange that they had agreed with L****l to bring forward the opening of 50 lodges to Feb 2021 to take advantage of people wanting 'isolated staycations'.
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Post by p2pvictim on Jul 27, 2020 13:45:53 GMT
Yet another car crash. This loan should have been defaulted and the recovery started over a year ago! Why do they keep letting the borrowers call the tune!
Because of Moneything dragging it out and finding excuses not to call in the loan and giving us all the b******* weve got a recovery starting in the middle of a recession so moneything have cost lenders lots of money again. It's clear what's going on now after lendy and the others these platforms don't want to default loans because if they string them out the more money they take for themselves. How many other loans are there where the borrower has defaulted on the terms that they haven't called in. How can they sell us a contract if they aren't going to enforce it. Id NEVER have lent my money if theyd said if the borrower doesn't pay me back at the end of the loan they won't do anything about it for years!
My money is disappearing on loan after loan. How can this be legal.I'm SICK of the can kicking and delays and excuses from these P2P people. Either theyre clueless or else there are looking after themselves and not the lenders whose hard earned cash they have taken. We're being FLEECED on loan after loan
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averageguy
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Post by averageguy on Jul 27, 2020 13:47:25 GMT
Yet another car crash. This loan should have been defaulted and the recovery started over a year ago! Why do they keep letting the borrowers call the tune! Because of Moneything dragging it out and finding excuses not to call in the loan and giving us all the b******* weve got a recovery starting in the middle of a recession so moneything have cost lenders lots of money again. It's clear what's going on now after lendy and the others these platforms don't want to default loans because if they string them out the more money they take for themselves. How many other loans are there where the borrower has defaulted on the terms that they haven't called in. How can they sell us a contract if they aren't going to enforce it. Id NEVER have lent my money if theyd said if the borrower doesn't pay me back at the end of the loan they won't do anything about it for years! My money is disappearing on loan after loan. How can this be legal.I'm SICK of the can kicking and delays and excuses from these P2P people. Either theyre clueless or else there are looking after themselves and not the lenders whose hard earned cash they have taken. We're being FLEECED on loan after loan ..and breathe out
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starfished
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Post by starfished on Jul 27, 2020 14:22:50 GMT
I am disappointed where this has ended up but no, I don't feel fleeced. Well not yet!
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agent69
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Post by agent69 on Jul 27, 2020 14:32:10 GMT
Update from 2nd July 2019 - we understand ..... repayment of the loan is imminent.
Given the history of p2p defaults it beggars belief that platforms are still so reluctant to start legal proceedings.
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SteveT
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Post by SteveT on Jul 27, 2020 14:50:31 GMT
Given the history of p2p legal proceedings, it beggars belief that some lenders are still so keen to see them started.
Very much the last resort, IMO, once all potential alternatives have been exhausted.
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dovap
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Post by dovap on Jul 27, 2020 16:27:31 GMT
Given the history of p2p potential alternatives, it beggars belief that some lenders are still so keen to believe in those flying pigs............
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daveb
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Post by daveb on Jul 27, 2020 16:45:08 GMT
I haven't quite understood this. If the 6.25% bonds on NEX sell, do we get our money back? Can they sell these bonds if administrators are appointed?
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Post by sirpercyblakeney on Jul 27, 2020 18:11:06 GMT
If the investment was viable, the bonds/shares etc. would have been snapped up already.
I am beginning to wonder if this and many others are planned failures?
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Post by waryinvestor on Jul 28, 2020 15:26:27 GMT
In principle, forbearance is sensible if there is a concrete exit plan. With MT, it is far from it. To add insult to injury, they apply their fees that they state cover litigation and other costs during this so called forbearance period. It's like being advised periodically to wait for an unconfirmed train ticket on a platform. When the ticket fails to materialise, you are then charged for waiting. Yes, their own Charges (excluding their own Legal Charges) are more than 50% of the Total Costs of Recovery (including all Legal Fees, Disbusements, etc.). Their own Costs (excluding all those fees, disbursements, admin Fees, etc.) are upto 20% of the Recovered Amount. Fleecing investors once again for trusting & investing with them and for their own faults.
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gt94sss2
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Post by gt94sss2 on Jul 28, 2020 17:09:08 GMT
It's ironic that demand for UK holidays has shot up in the last couple of days
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