ablender
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Post by ablender on Mar 13, 2016 21:44:57 GMT
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ablender
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Post by ablender on Mar 13, 2016 21:44:27 GMT
rebsrep : More promises without visible results here. Any news? Many p2plenders don't count a loan as overdue until 45days. This one is only 22 days. However I appreciate and we appreciate that that is unacceptable and we start to chase all loans at just 1 day overdue. This one became due 22nd Feb. If you look at the discussion updates for this loan you'll see updates from us on: 23/2 (x2) 24/2 25/2 29/2 2/3 3/3 4/3 8/3 10/3 11/3 i.e. virtually one update per working day, we can't be asked of being uncommunicative on this one. They promised to make payment on Friday, so of course if it hasn't arrived when processing payments on Monday we'll continue to pursue them. With this business they are a seasonal business which creates large swings in their cashflow and the email contact from them at the start of last week stated that they had been overseas on business. Of course we've asked them to re-instate the Standing Order. rebsrep"Many p2plenders don't count a loan as overdue until 45days" What sort of rule is that. If it is not paid on the day it should be paid, then it is overdue, even if by only one day. I have read your communications on the dates you quoted. Thanks. Most of these say that you contacted the borrower who was not there, left a message but no tangible results are achieved from this. If there is something that I missed please let me know. This business deals with education and you (they) claim that it is seasonal. When do you expect this business to have more cash, when we are out of term time; summer perhaps. You did mention that a payment has been made with a Standing Order. I appreciate that you asked for the re-instatement of the Standing Order. My question is, why was the standing order removed in the first place?
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ablender
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Post by ablender on Mar 13, 2016 11:37:05 GMT
This I have done thanks. But I assume that although I made purchases both yesterday and today. The transaction may only be processed tomorrow and hit my account with SS on Tuesday (worst case scenario) assuming both SS and FD work faster payments. Would Tuesday arrival be OK or will my purchases be wiped? From my past experience, I do not think that your purchases (over the weekend) will be wiped out. I usually send a quick email to SS when I transfer money to let them know that money is heading their way.
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ablender
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Post by ablender on Mar 12, 2016 23:18:48 GMT
rebsrep: More promises without visible results here. Any news?
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ablender
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Post by ablender on Mar 12, 2016 23:16:38 GMT
rebsrep: This has now two payments which are outstanding. Any news?
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ablender
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Rebuilding Society
La D*I* Ltd
Mar 12, 2016 23:13:47 GMT
Post by ablender on Mar 12, 2016 23:13:47 GMT
La D*I* Ltd; rebsrep: What are the latest news on this one? There were rumours about a payment holiday. Is this what is going to happen?
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ablender
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Post by ablender on Mar 12, 2016 22:47:07 GMT
rebsrep
"We have to balance staying true to the ethos of rebuildingsociety by working with borrowers where the circumstances warrant it."If you work with borrowers, how did you allow L** J*L* to default after one payment ? It was a ReBs requirement that the borrower took out PG Insurance. My understanding is that the PG Insurance is worthless unless 3 payments are made. There are other loans, including a current loan in auction, which also have PG Insurance. What are you doing to ensure that these borrowers make at least 3 payments ? rebsrep: If three payments are a requirement for a PG Insurance (as indicated above), why don't you hold a minimum of three months worth of interest up front?
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ablender
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Post by ablender on Mar 12, 2016 21:45:35 GMT
I'd like to see the interest rate for each investment displayed on the "My Investments" screen. I'm pretty certain this used to be displayed when I first signed up. This can be a good idea but for now I settle with being able to see the "My Investment" page. When I try to access it the following comes up. Please note that this is not the first time that this happens.
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ablender
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Post by ablender on Mar 12, 2016 16:58:36 GMT
To add to what GSV3MIaC already said, many have warned here that things can change quickly either way. Diversification is the best option I find, not only for security but also for access. If I need some cash and I cannot sell one thing, I will sell another.
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ablender
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Lendy (L) in Administration
Risk
Mar 12, 2016 8:24:32 GMT
Post by ablender on Mar 12, 2016 8:24:32 GMT
The main thing is liquidity. For me, quick access to funds is more valuable than high % return. If quick access was my highest priority I would put all my money with AC's Quick Access Account. Currently it gives 3.75% and boasts of near instant access to your money. However I find it hard to understand your position (Priority to fund access) vs the other investing products you use, which I cannot see them as particularly quick access, but rather aim at getting better returns. Correct me if I am wrong.
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ablender
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Post by ablender on Mar 10, 2016 13:28:34 GMT
Saving Stream have created a FREE secondary market for us all. There has to be rules and IMHO, this particular rule should be kept. By keeping it the way it is, simplifies the procedures involved with selling on the secondary market. If it is over complicated, with selling order ticket numbers being generated and then being cancelled, that could lead eventually to the secondary market not being free. Who knows? Come on. We are not asking for the end of the world. What is the extra complexity that you see in being able to cancel a sale? And why should SM not be free in the future if we can cancel a sale?
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ablender
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Post by ablender on Mar 9, 2016 18:45:40 GMT
We do need this functionality added to the platform. What you are describing is a work around and is only effective if there are lots of sales happening. Imagine I put a loan part for sale on a loan that is slow going. After a few days it has not sold and I fund some extra funds and decide to put them on SS. Why shouldn't I be able to cancel the sale and keep my loan part if so I wish?
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ablender
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Post by ablender on Mar 9, 2016 18:21:09 GMT
I understood that if our pipeline for DFL2 was set to £0, then no roll-over would happen and the capital in PBL50 would be returned. This did not happen and now I have some parts in DFL2 which I am still not sure if I want because I have not made up my mind yet about DFL loans in general. savingstream can you please clarify how we can indicate that no roll over should happen, if that is our choice? The email they've sent out says that if you don't want them, let SS know within 48hrs, and they'll buy them back. Or you could just put them on the SM - they'll go like they were rocket-propelled... Definitely they do sell quickly. I reduced my part and kept a small amount to explore them further. I might buy more later on when I start to understand them and be more confident with this new (to me on SS) type of loan.
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ablender
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Post by ablender on Mar 9, 2016 17:50:35 GMT
I understood that if our pipeline for DFL2 was set to £0, then no roll-over would happen and the capital in PBL50 would be returned. This did not happen and now I have some parts in DFL2 which I am still not sure if I want because I have not made up my mind yet about DFL loans in general. savingstream can you please clarify how we can indicate that no roll over should happen, if that is our choice?
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ablender
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Post by ablender on Mar 8, 2016 7:46:23 GMT
Analysing the sold information for the loan indicated above, I found that there were a total of £2,310,460.15, of loans held for 1 or 2 days, earning an interest of £1020.07. Where these loan parts funded? I do not know. I think it can be interesting to find how it compares to older loans.
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