ozboy
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Post by ozboy on Nov 14, 2019 10:58:38 GMT
One of the Borrowers is not "well" and compassion is being extended regarding our Loan. And apparently the Courts are expected to also show further compassion.
BridgeCrowd, do you have written proof of the relevant Borrower's "condition" please? And from two seperate, distinct, authoritave sources? It won't be the first time a Doctor's Note was, errrr, "erroneous".
Apologies if the Borrower is indeed genuinely in the situation we have been told but this is still business and must be checked out thoroughly.
Particularly if it means it will be years before we get our money back.
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michaelc
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Post by michaelc on Nov 14, 2019 14:49:56 GMT
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michaelc
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Post by michaelc on Nov 14, 2019 14:59:06 GMT
I'm not in this loan but my thoughts are if the court is going to show compassion they will certainly need to provide evidence to that court and if there is anything wrong with the evidence then that would be contempt of court - possibly/probably jail.
SO I know its easy for me to say, but I agree with what BC are doing. On balance, if the situation is as described, if I was the lender I'd be happy to wait a few more weeks especially at default interest rates.
Definitely understand your frustration though Ozboy as so many borrowers in p2p have shown themselves to be anything other than integretorious. (made up word but does the job)
Edit: Google tells me the word I was looking for was integritous
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Greenwood2
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Post by Greenwood2 on Nov 14, 2019 15:53:37 GMT
One of the Borrowers is not "well" and compassion is being extended regarding our Loan. And apparently the Courts are expected to also show further compassion. BridgeCrowd, do you have written proof of the relevant Borrower's "condition" please? And from two seperate, distinct, authoritave sources? It won't be the first time a Doctor's Note was, errrr, "erroneous". Apologies if the Borrower is indeed genuinely in the situation we have been told but this is still business and must be checked out thoroughly.
Particularly if it means it will be years before we get our money back. With most platforms I would agree with you, but BC seem to be better than most. If the court will be lenient anyway there is little point BC putting themselves in a bad light with the court by not showing compassion, not wishing to give too much information on the open forum, but if you read the whole update the compassion might lead to a simple resolution. As others have said it's only a couple of weeks delay, unless the court gets involved, then all bets are off.
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ozboy
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Post by ozboy on Nov 15, 2019 12:30:16 GMT
I am not an ogre and have no problem with appropriate forbearance.
The current cessation of activity is based on a Solicitor's letter received by BC in which the Solicitor simply repeats what they were told by the Borrower. AFAIK no actual proof has been provided, so this type of "Solicitor's letter", on which BC is basing a short term decision, is meaningless.
I do however also believe (hope) that BC are experienced and know what they are doing. I have just emailed BC and requested that in due short course BC obtains two separate forms of proof of the Borrower's circumstances.
This is a very difficult situation, nonetheless a professional business stance has still to be taken, AFAIK the Borrower is neither "poor" nor "destitute".
UPDATE: I have just phoned BC and their thinking is aligned with mine/Lenders. FWIW I also took the time to remind BC that Lenders have had a gut full from the likes of FS/Lendy/COLL and that all Platforms are obviously under VERY close scrutiny.
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ozboy
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Post by ozboy on Dec 9, 2019 22:44:28 GMT
Update please bridgecrowd , you were going to do something by/on/around 29 November 2019? Do you have incontrovertible proof of the Borrower's health situation please?
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michaelc
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Post by michaelc on Dec 9, 2019 23:22:56 GMT
Very interesting one to follow this one. Bit of a litmus test as they say.
I wouldn't be worried yet about lack of update. They do tend to do them monthly or bi-monthly regardless of what actually happens.
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ozboy
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Post by ozboy on Feb 9, 2020 15:39:32 GMT
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Greenwood2
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Post by Greenwood2 on Feb 10, 2020 21:01:19 GMT
Up date due 10th of the month? So may be tomorrow?
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ozboy
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Post by ozboy on Feb 10, 2020 22:10:25 GMT
Let's hope so, because I have a BAD feeling about the way this Loan has been going.
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michaelc
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Post by michaelc on Feb 10, 2020 23:11:51 GMT
Let's hope so, because I have a BAD feeling about the way this Loan has been going. Relax. I heard a certain Mr L*xm*re has taken over at BC. You're in good hands.....
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ozboy
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Post by ozboy on Feb 11, 2020 8:41:40 GMT
Jesus Christ, that's a relief, it could have been Our Nige!
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