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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?
"Timmy, great response"--------Incredible, words fail me.
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.
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.
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 ?
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)
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!
‘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”“
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
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.
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
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.
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.
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.)
@TheeDuke out of interest, would you sell your holdings if Benamor looses the vote?
Seamus, I was just replying on your separate thread about complaints volumes but it's been deleted?
I just logged out to log back in to see that brought it back?
I just logged out to log back in to see that brought it back? Its gone from my posts as well
So what’s shaking gang ? What have I missed?
you're not allowed to speak to us until you buy back in Mark you dirty traitor lol
Ooooh get you Loki :D
I’ve in fact just topped up my sipp for the occasion ; )