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I’ve in fact just topped up my sipp for the occasion ; )
Ooooh get you Loki :D
you're not allowed to speak to us until you buy back in Mark you dirty traitor lol
So what’s shaking gang ? What have I missed?
I just logged out to log back in to see that brought it back? Its gone from my posts as well
I just logged out to log back in to see that brought it back?
Seamus, I was just replying on your separate thread about complaints volumes but it's been deleted?
@TheeDuke out of interest, would you sell your holdings if Benamor looses the vote?
Agree with calamari & Beeworma, it's a reasonable strategy to focus on collections (to reduce loan book and limit exposure) and dealing with backlog of issues during these risky & uncertain times, we do have an excellent liquidity reserve, high nav vs sp (although here with second wave it's moving into worse defaults outcome matrix area unfortunately), I wish they would also cancel payment (and interest) holidays because nobody waived our costs (rent, bond interest, etc.)
Spadger - spot on. I think it's called click bait.
I think Pension Investor is making mischief. That's the only explanation I can find for his bizarre posts.
Seamus, Beevorama - I wholeheartedly agree. Amigo need to stay on the right side of affordability, especially when they're already under investigation. Lending as suggested by PI would be a massive mistake.
I've done some analysis of the complaints data in the annual report. I'm not expecting a significant amount of that provision to be taken back into the business for other purposes.
Catch 22.
When they restart lending the bonds get more expensive to buy back.
Currently Book a 50% gain by buying back bonds or loan out and net 20% profit for every £1
So those of us that are working are seeing a thread saying RNS confirming immediate lending ? It’s giving the impression we’ve had one when from what I see we’ve not and I ain’t got time to read through.
Not wanting to be negative but if anyone got a sniff that Amigo was lending to help people put food on the table they'll get slated and accused of taking advantage. If you can't afford food you can't afford a loan
The irony is- you can buy food with credit cards and pay back minimum per month at x % and balance hardly going down
I'm not suggesting it's ok for Amigo to lend for food but many already do
‘Even if they just lent to people starting a COVID friendly business, maybe they need to buy a sewing machine, or 3d printer, or other equipment to work from home?
That would go a long way in “MAINTAINING A COMPANIES REPUTATION FOR HIGH STANDARDS OF BUSINESS CONDUCT”“
Whats hard to believe jimmy is that you can not see whats going on in the world.
You have just ignored MILLIONS OF PEOPLE in this country who now only work part time.
(Company puts a hundred people on part time hours instead of sacking 50% of them!)
Living on part time wages cant be fun, hence so many opportunities for home working.
Many more Demographics will be able to pass the affordability checks.
Hey it might even help put food on the table!
i don't see it with the 2nd lockdown coming up, in fact i see the opposite. perfect excuse to remain "not lending" whilst they deal with the systemic issue in the loan book (which the board say they don't have because they're looking at claims individually)
There's just one thing that worries me with this and that's claims
I know they've mentioned this is under control on their website and mentioned they couldn't do RNS for xyz but why haven't they released RNS stating this as it would certainly effect SP. Is it because they would be legally committing to it and they can't ? Actual RNS and questions based on this were not answered in any official manner
Anyone got any factual info on this ?
Positive energy in these times is difficult, make your own minds up.
I’m just saying what I feel the whole markets down because of the second wave.
Amigo would be a great help to normal people at the moment.
What's hard to believe is expecting a lender to overlook all affordability indicators and ignore a borrower's current position then provide credit on the basis that the borrower intends to set up a COVID friendly business which will enable to meet the repayments.
Seriously, what do you expect the impairment rate to be if this lending policy were implemented by Amigo? And what do you think that would do to the share price / regulatory reputation of the firm?
Good luck to you guys if you think this is a serious suggestion. I think it would be an absolute disaster.
"Timmy, great response"--------Incredible, words fail me.
Timmy, great response.
I can not understand such a dogmatic approach by jimmy.
Different members of the public have vastly different circumstances.
Is it so hard to believe that there are many members of the public that given their circumstances will fulfil the lending criteria, if afforded the opportunity?
timmycoles is such a silly individual, couldn't come across as being more stupid if he tried :)
Timmy, I'm not judging anyone. I'm trying to show how difficult it would be for Amigo to show they've thought carefully about whether a borrower can afford a loan if they haven't got a reliable income.
Telling Amigo you're planning to set up a business (even a COVID friendly one, whatever that means) is not going to be enough for Amigo to show they've lent responsibly. Yes, there may be a few people who could borrow successfully this way. But it's just not scalable.
Jimmy who are to judge what sort of people they would be, just because your a divy doesn’t mean they won’t have a good business idea, or in fact need a loan to help with something else a car for example; so they can get to work ect.( keep the economy going )
Come on Amigo, we know this business will be back on track soon.