Reply To: Payout/Collection
We ensure that those seeking principal repayment get paid back in time as much as we can.
Whilst this is a matter that is in the discussion to assist with transparency, Lewis explained the process:
a) prior to the expiration of the loan (90 days) we advise the account holder that the loan is due for expiration and he needs to elect as to what he wants to do next in regard to the repayment. He can pay out the loan or elect to renew the loan.
b) if he elects to renew, we advise him that some investors may choose not to and we arrange to send out an alert to all investors to give them the option to either remain as an investor or opt out of this investment. This alert is sent by MailChimp and we endeavour that everyone receives the message.
c) We will admit there has been occasions that some clients have complained that they haven’t been paid back principal when it turns out that we never received any response from them on the alert and that is why they were not paid back the principal and the loan continued as that the assumption is without being notified we assume that they wish to continue as an investor. This is clearly disclosed in our terms of service.
d) It is most likely what occurred here is that we did send you a message but for some particular reason you haven’t sent us a reply so therefore you have remained as an investor on the loan even those you are stating in your message you do not wish to continue.
e) We will check the status and find out why you didn’t get paid back. If it is a case that I didn’t get your message we will arrange a payout from marketing funds so that you can be made whole for your investment.
Marketlend6 years, 6 months ago Reply