Now that COL is beginning to get a few -ve day loans on its books, what is its policy on communicating activity. For instance we have one loan, just gone -1 day and all I can dig out is that this is a 3 month extension from October, nothing about the future. This is true of a few other loans but not many yet.
So how do I know this issue is being managed or is it just "one of the things we will get to when the desk gets tidied up" ?
I'd like to know
1) the boys have been sent round 2) given it was a three month extension they were sent around at least a month ago to see what's what 3) that a receiver has been called in 4) that this was being communicated to us in a timely manner
I just have a nasty feeling that COL may be drifting into a Lendy style of work and that is not why I've put my money here.
Another night without being attacked by dragons. Recipient of £50 from Lendy for advice being published in their newsletter.
We are in constant communication with our borrowers and have just updated three loans that are in minus days.
As mentioned in an earlier post, we are trying to build relationships with investors and borrowers and if we need to give a little grace, as long as we are happy with the explanations, we will work with the borrower.