SteveT
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Post by SteveT on Dec 6, 2015 15:38:43 GMT
No one on the forum has surfaced to say they are in Fist Clenched for this borrower, which I would take to indicate a lot of doubt over whether FC is the other lender. Might they have been Whole Loans?
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kaya
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Post by kaya on Dec 9, 2015 11:37:04 GMT
Surprised to see the first payment has been made today (1 week late) I would'nt get too hopefull. If I were them, I'd pay at least once to take the heat off - like Les Miserables did. Rebs will be very pleased, it takes the heat off them too. If I were in this loan, I'd rather have nothing at all than just one repayment, but will they keep paying...?
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Post by captainconfident on Dec 18, 2015 15:07:12 GMT
I was wondering whose bank account that single repayment came from. A loan where repayments were made changes the argument compared to a loan from which no repayments were ever made.
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nick
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Post by nick on Dec 21, 2015 23:10:27 GMT
Strange they entered administration on 30 November the same day as their first repayment. I would have expected the administrator to stop all payments on their appointment, although direct debits and standing orders would continue until they establish a mandate over the bank accounts - not that the payment was made on the due date so unlikely to have been a standing order. The fact the company has been placed in administration rather than liquidation gives some grounds for hope.........
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Post by bluechip on Dec 31, 2015 13:49:10 GMT
I was wondering whose bank account that single repayment came from. A loan where repayments were made changes the argument compared to a loan from which no repayments were ever made. My exact thoughts. If I ran the show it would be a small price to pay, 88888 account!
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Post by danraj on Jan 7, 2016 20:21:26 GMT
The repayment did come from the borrower.
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Post by oppsididitagain on Jan 30, 2016 23:25:45 GMT
You think the broker would have taken more responsibility on this, clearly just after their commission to get the loan completed !
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Post by jh on Feb 2, 2016 10:52:27 GMT
You think the broker would have taken more responsibility on this, clearly just after their commission to get the loan completed ! Could you please confirm what you mean by taking more responsibility ? Feel free to personal message me on this.
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Post by captainconfident on Feb 2, 2016 12:10:02 GMT
jh, I understand you jumping to defend your honour, but would it not be fair to say that the majority of the loans you have introduced have got into repayment difficulties after just a handful of repayments? I am not going to go onto the site and work through the loans to make a precise calculation of this, but it is my perception that your name is features large in my current difficulties.
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Steerpike
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Post by Steerpike on Feb 2, 2016 12:46:38 GMT
jh, I understand you jumping to defend your honour, but would it not be fair to say that the majority of the loans you have introduced have got into repayment difficulties after just a handful of repayments? I am not going to go onto the site and work through the loans to make a precise calculation of this, but it is my perception that your name is features large in my current difficulties. Same here
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Post by bluechip on Feb 2, 2016 13:02:49 GMT
Less time defending honour publicly, more time addressing the issue with those rogue borrowers so the aforementioned isn't necessary please!
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Post by jh on Feb 2, 2016 15:40:45 GMT
I do not want to get into a public debate on this, however you forget the role of a broker/introducer.
The job is to find a home for a loan. It is the lender/platform's job to underwrite the loan enquiry and the broker cannot be held responsible for that underwrite. I take my role incredibly seriously and behind the scenes will always assist a lender or platform to try and recover any late payments. In the case of this particluar deal (and some others), I have also been an investor, therefore stand to make losses as well.
It is unfortunate that some have gone wayward, however please note that due to the increasing number of cases brought to the platform in the last couple of years I will be noticed more.
Going forward, I am working with the platform to put in more upfront checks, including putting the underwriter in direct contact with accountants to substantiate the figures presented.
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Post by jh on Feb 2, 2016 15:58:01 GMT
Please also note the very first post on this thread which I hope goes someway to show that I take my responsibilities seriously.
""Today, following an email from a broker, we became aware that the website n*******ra.com contained a front page message stating that “due to unforeseen circumstances the business has ceased trading”. We are obviously treating this early development as potentially serious and are exploring every avenue in order to try and ascertain precisely what the cause and extent of this issue is.""
I am committed, on an ongoing basis, to review and help where I can to recover late payments etc. There is often a point where I am asked to step away and leave it to the licenced collection professionals as is the case with this particular deal.
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SteveT
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Post by SteveT on Feb 29, 2016 17:32:01 GMT
Now defaulted (belatedly)
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Steerpike
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Post by Steerpike on Mar 1, 2016 9:54:38 GMT
Yes, it is exciting to watch the "Defaults/Bad Debt" total racing to keep up with the "Interest Earnings" on my ReBS Dashboard.
Now it looks like the Highland Chippie may help the baddies to overtake the goodies.
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