Peer-to-peer lending sites: MSE guide discussion

jamesd wrote: »

The committee can influence the direction and costs of the administration

This isn't the case is it?



I thought the CC was a bit like the House of Lords - they can huff and puff a bit, but ultimately have no power to compel BDO to do anything (other than perhaps attend a meeting)

I am also put off of DI due to some of his posts that I read but not getting involved.

I would have preferred masonic or jamesd from here! Anyway just going to wait patiently and see what develops.

agent69 wrote: »

This isn't the case is it?

I thought the CC was a bit like the House of Lords - they can huff and puff a bit, but ultimately have no power to compel BDO to do anything (other than perhaps attend a meeting)

First of all they will vote on the fees and either accept or reject them. BDO have indicated they will be able to influence how these fees will be apportioned. If they reject the fees, they will be able to influence the actual basis upon which fees will be charged, although ultimately this would be referred to the Court if an agreement could not be reached.

Beyond that, it would be a case of ensuring that BDO has taken all steps reasonably possible to recover lender/creditor funds.

agent69 wrote: »

I think some are put off of DI by the suggestion that he is offerings advice to a private and select group of Col investors on one of the other forums.

Yes, prior to any mention of the creditor committee, DI announced he was going to send BDO a letter on behalf of a number of investors who had signed a letter of authority. BDO is therefore aware of the arrangement. Subsequently, I understand he was approached by further such investors who have also signed the letter. I haven't approached him in this regard because I only have a 4-figure sum tied up in this and it doesn't seem appropriate, but had I done so it doesn't strike me that my request would have been denied.

Unfortunately paranoia has taken over the moderation team of the P2PIF, which is why such a large number of valued long-term members have been permanently banned. One of whom took the trouble to attend the last court hearing and doesn't appear to have done anything worthy of even a slap on the wrist.

Personally, I believe DI's strengths outweigh the above drawbacks and believe that in all aspects that matter my interests are aligned with those he has agreed to advise more formally.

A bit like Bond Mason, you would think they were more suited to the CC than the average man in the street, but you can't be certain that they don't have their own agenda to pursue.

This concerns me a little more, as I have expressed elsewhere. That said, I'm not opposed to them getting onto the committee as they will be diluted by 4 others.

agent69 wrote: »

I think some are put off of DI by the suggestion that he is offerings advice to a private and select group of Col investors on one of the other forums.

It's open to almost anyone who wants to be in it. Some people might be incompatible but they probably wouldn't trust him enough to ask anyway.

taylornj wrote: »

I did find out, P2PIF moderators aren't trying to ban people they are trying to ban SPAM, the method they use is to issue the banned message to IP addresses they suspect of being VPN's responsible for the SPAM. Many of these VPN's are using the ISP's like BT, so while the ban works for a short period, the IP address is dynamically assigned, and a simple reboot will allow the VPN to move to a new unbanned IP address.


This leaves the IP address available for other ISP customers to be assigned the IP address that is banned. To get around the ban you just need to reboot your modem/router you are then hopefully assigned an unbanned IP address. Some suggest turning off router/modem overnight, I just had to reboot mine to pick up a new IP address.

The bannings mostly occurred around the time of the whole forum being taken offline for a weekend. There was a certain thread in which several of the banned members were involved and it was perceived as "mod baiting". Subsequently, some members were banned for asking where other members had gone.