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    • keyboardworrier
    • By keyboardworrier 4th Jul 18, 12:28 PM
    • 93 Posts
    • 99 Thanks
    keyboardworrier
    Various people on the other forums have voted for others to represent them on the committee, personally I don't understand the ramifications of this well enough so I didn't vote for anyone. At some point BDO will ask us to return the proof of debt form, but so far I haven't done anything.




    Also, is anyone an investor on JustUs (https://www.justus.co/invest) and if so can they share their experiences ? I am considering signing up to increase platform diversification

  • jamesd
    Various people on the other forums have voted for others to represent them on the committee, personally I don't understand the ramifications of this well enough so I didn't vote for anyone.
    Originally posted by keyboardworrier
    The committee can influence the direction and costs of the administration through their votes. Dualinvestor has the background to help prevent things going in pointless but expensive directions, so is my preferred choice. Dualinvestor will be happy to say who he is and his background if you contact him privately before deciding.

    There are still legal constraints, though. If BDO can get the contracts and per-investor loan amounts they will be obliged to use them. And they have to at least try diligently to do so.
    • Dird
    • By Dird 4th Jul 18, 4:07 PM
    • 2,617 Posts
    • 1,561 Thanks
    Dird
    Yes, me too. I would be happy for my available funds to be re-invested but since this isn't happening I am withdrawing them as I don't want to see them sitting there earning no interest.
    Originally posted by MarkFromCornwall
    LendingCrowd seems OK~ Signed up last year & most of my cash is loaned out there
    Mortgage (Nov 15): 79,950 | Cashback sites: 900 | Current accounts: 16
    Mortgage (Sep 17): 75,229 | 30k in 2016: 30,300 (101%) | 25k in 2017: 16,996 (67.9%)
    • AdrianC
    • By AdrianC 4th Jul 18, 4:10 PM
    • 17,783 Posts
    • 16,108 Thanks
    AdrianC
    LendingCrowd seems OK~ Signed up last year & most of my cash is loaned out there
    Originally posted by Dird
    Seriously?

    The one platform I've lost money on (if you ignore the bonus they were running at the time).
    • MallyGirl
    • By MallyGirl 4th Jul 18, 4:32 PM
    • 2,812 Posts
    • 7,821 Thanks
    MallyGirl
    I haven't lost any with LC - touches wood - to date. Or any other P2P so far - I am sure that is likely to change but it has been fun while it lasted. I have used up all the join / recommend bonuses I could so now it is a case of keeping funds in each as long as required to retain those bonuses.
    • edinburgher
    • By edinburgher 4th Jul 18, 4:33 PM
    • 11,180 Posts
    • 59,985 Thanks
    edinburgher
    Seriously?

    The one platform I've lost money on (if you ignore the bonus they were running at the time).
    Originally posted by AdrianC
    I also have a negative rate of return for this particular turkey!
    • masonic
    • By masonic 4th Jul 18, 6:05 PM
    • 9,488 Posts
    • 6,641 Thanks
    masonic
    The committee can influence the direction and costs of the administration through their votes. Dualinvestor has the background to help prevent things going in pointless but expensive directions, so is my preferred choice. Dualinvestor will be happy to say who he is and his background if you contact him privately before deciding.
    Originally posted by jamesd
    Agreed, DualInvestor is my preferred choice. He's a retired chartered accountant and insolvency practitioner and based on some lengthy and frank discussions we've had I think he has exactly the right attributes and perspective required of the role.

    The only other notable person having put themselves forward is Steve Findlay of BondMason. I think his being on the committee is pretty much a foregone conclusion due to BM's exposure to the platform and the other support he has. A number of others have also nominated themselves and perhaps have a few supporting their nomination.

    It seems very likely more than 5 people in total have been nominated, therefore there will be a vote among the wider creditor base - as I understand it the 5 with the largest share of creditor claims supporting them will be accepted onto the committee.
    • soulsaver
    • By soulsaver 5th Jul 18, 12:52 AM
    • 1,751 Posts
    • 716 Thanks
    soulsaver
    Ratesetter tech issue
    I noticed today I had 3 loans repaid early during June.

    I had email notification for one at the start of June but was not notified the two on the 18th - so the funds sat doing nothing for 2 weeks earning nothing.

    In contacting RS cs, the manager then admits I'm not the first customer reporting the problem.

    Maybe not a problem for many, but just heads-up if it could be...
    • Froggitt
    • By Froggitt 5th Jul 18, 9:01 AM
    • 5,806 Posts
    • 3,068 Thanks
    Froggitt
    I noticed today I had 3 loans repaid early during June.

    I had email notification for one at the start of June but was not notified the two on the 18th - so the funds sat doing nothing for 2 weeks earning nothing.
    Originally posted by soulsaver
    You don't use the auto-reinvest facility?
    illegitimi non carborundum
    • soulsaver
    • By soulsaver 5th Jul 18, 10:58 AM
    • 1,751 Posts
    • 716 Thanks
    soulsaver
    You don't use the auto-reinvest facility?
    Originally posted by Froggitt
    I didn't (don't) want to auto invest at the moment as I feel I'm over exposed at their current rates & I have other plans for the cash.

    For those in the same/similar boat, they may wish to know it's possible loans have been repaid earlier than expected and they haven't been informed.
    • masonic
    • By masonic 5th Jul 18, 5:50 PM
    • 9,488 Posts
    • 6,641 Thanks
    masonic
    They also have an auto-withdraw facility, which I've made good use of.
    • agent69
    • By agent69 5th Jul 18, 9:10 PM
    • 194 Posts
    • 97 Thanks
    agent69
    The committee can influence the direction and costs of the administration
    Originally posted by jamesd

    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)
    • agent69
    • By agent69 5th Jul 18, 9:15 PM
    • 194 Posts
    • 97 Thanks
    agent69
    Agreed, DualInvestor is my preferred choice
    Originally posted by masonic

    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.



    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.
    • fun4everyone
    • By fun4everyone 5th Jul 18, 9:33 PM
    • 998 Posts
    • 1,532 Thanks
    fun4everyone
    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.
    Last edited by fun4everyone; 06-07-2018 at 1:40 AM.
    • soulsaver
    • By soulsaver 5th Jul 18, 9:34 PM
    • 1,751 Posts
    • 716 Thanks
    soulsaver
    They also have an auto-withdraw facility, which I've made good use of.
    Originally posted by masonic
    Good for you, glad it suits in your circumstances.

    It doesn't suit mine. I like to be informed and make the decision based on what options are available then, or in the near future; not up to a month later and maybe missing better opportunities.
    • masonic
    • By masonic 5th Jul 18, 10:00 PM
    • 9,488 Posts
    • 6,641 Thanks
    masonic
    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)
    Originally posted by agent69
    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.

    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.
    Originally posted by agent69
    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.
    • masonic
    • By masonic 5th Jul 18, 10:09 PM
    • 9,488 Posts
    • 6,641 Thanks
    masonic
    I would have preferred masonic or jamesd from here!
    Originally posted by fun4everyone
    No thanks. I suspect it will be a very tough gig.
  • jamesd
    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.
    Originally posted by agent69
    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
    • By taylornj 6th Jul 18, 12:31 AM
    • 195 Posts
    • 97 Thanks
    taylornj
    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.
    Originally posted by masonic
    I was banned from P2PIF for a while.


    This needs an explanation, first there is no warning or reason given why your banned, and you find yourself asking what did I do wrong, and there is no easy way to contact anyone.


    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.


    Once you know the method it's completely ineffective, so the method is kept secret.
    • masonic
    • By masonic 6th Jul 18, 7:06 AM
    • 9,488 Posts
    • 6,641 Thanks
    masonic
    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.
    Originally posted by taylornj
    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.
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