Wellesley P2P and Bond Investors

Johnny_Doe

To all Wellesley investors..
As you are aware Wellesley are asking you to cast a vote for or against a proposed CVA
Before you cast your vote I strongly suggest you join the Private Facebook group below for more information
“Wellesley P2P Creditors 2020“

Many thanks and take care!

DiggerUK

P2P?.....should've gone to Premium Bonds..._

steampowered

What a nightmare, sorry to hear that you are in this situation. It is a cautionary tale as to the risks involved with P2P - with P2P you are stuck if your provider goes insolvent.

mikb

FCA authorisation for P2P operators required that there be an orderly wind-down plan in place.

I'm not sure at what point they rubber-stamped a plan to sell the loans to yourself at discount and exit

Johnny_Doe

Just bumping this as voting ends tomorrow... please join the Facebook group and help us fight this appalling situation

Thrugelmir

Discounted suggests there's a lot of bad and doubtful debt contained within the loan book. Also that recovery might be slow and expensive. Appointing very expensive administrators to perform the task doesn't necessarily equate to a more favourable outcome. The FCA may well have been informed of events. 

Takedap

Any updates on this?   Recently had an email saying that a payment had been made into the account.  When checking, it tells me that there is just over 2k in the account but less than £7 is available to be withdrawn.

Alan4561

Anyone know if FCA are doing anything worthwhile in investigating Wellesley finance CVA situation anyone had had any good feed back yet