chadwick1123 #10057

Hi,
When is the principal payment going to be collected for this?
The deadline for the start of the loan was May 2016 with a 9 month duration.
That means the principal should have been paid back in January. It is now August and I have been waiting extremely patiently for either a payout or an update.
Thanks

Reply

leotyndall #10059

Dear Chadwick,
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.

Kind regards,

Marketlend

Reply

leotyndall #10061

Dear Chadwick,
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.

Kind regards,

Marketlend

Reply

chadwick1123 #10089

Hi Leo,

Turns out I have figured out why there was no payment.
On April 19 I sent the email disagreeing to the loan continuation yet did not see the following email returned to me until now.

This message was created automatically by mail delivery software.

A message that you sent could not be delivered to one or more of its
recipients. This is a permanent error. The following address(es) failed:

support@marketlend.zohosupport.com
(ultimately generated from administrator@marketlend.com.au)
host outbound.mailspamprotection.com [69.175.69.90]
SMTP error from remote mail server after end of data:
550 High probability of spam

Action: failed
Final-Recipient: rfc822;support@marketlend.zohosupport.com
Status: 5.0.0
Remote-MTA: dns; outbound.mailspamprotection.com
Diagnostic-Code: smtp; 550 High probability of spam

Reply

chadwick1123 #10091

I also sent a disagree email for Mix Spray Painting – 5213 on April 12 which did not bounce back.
I did not receive any emails from Force Hydraulics & Pneumatics – 5370 about a loan continuation yet that one has also gone passed its May Deadline.

Thanks

Reply

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