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  • jamesd
    Some might be interested in the current good supply of loans on the Ablrate secondary market. Nine loans at or below original issue price and a few more not much above it. A nice chance to get a fairly diversified start.

    It's unlikely that any of the loans will be bought from me, though maybe it'll help any future sales I might want to make.
    • MoneySavingUser
    • By MoneySavingUser 22nd Sep 16, 9:32 PM
    • 1,504 Posts
    • 600 Thanks

    1. the ultimate borrower was described as an individual when it was in fact a limited company
    Originally posted by jamesd
    Doesn't look like this has been mentioned but the linked company (Eco Warrior Resorts Ltd) is in administration!

    Looks like Lendy Limited asked for them to put into administration. Lendy Ltd being the company that runs Saving Stream.
  • jamesd
    Yes, if I recall the discussions correctly the three non-Lendy owners of the limited company started trying to wind it up at about the same time as three relatives formed a new company of similar nature. My guess is that they would try to buy the place out of administration for a price lower than the amount advanced in the loan and maybe even lower than the price the first firm paid for it. Apparently an offer has been made by someone but it's not known who. More ... less than desirable stiff .. if it turns out that it is the new limited company set up by the relatives.

    On the more positive side of things, Ablrate's new developer team is in place and doing assorted updates to the platform at the moment.
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