Thread: Picrealty Members??

As far as payments made, someone said they had seen a post somewhere. I too thought the post was about a payment being made, but, I think it turned out that the poster (mod in auspips) misunderstood the question and answered in such a way that it sounded like the payment had been made. I just saw last nite that there was that misunderstanding and, a correction that, no the payment wasn't received. :(

VP

Originally Posted by boatman

Originally Posted by michaelr

Unlike some who rely on gossip in TG I have taken the trouble to go to Conventions and talk to Bryan and other members of staff and visit the offices in Nilai fairly regularly for the same reason. Then I ask questions and then I listen to the answers.

That is how I find things out and it generally appears to work quite well for me :)

I have noticed that some others do the same thing and also seem to know what they are talking about :)

I hope this answers your question, tuppence,:)

Michael

So, how do you know that the bank ok'd Pic Realty? I must of missed that answer.

me too!

It is correct that picrealty does not depend on picpay nor on pips. It is a seperate business located in a different country operating under the pips umbrella. This has been a known fact for quite some time now. Question about how do I know hold no ground. The question should be; how come you don't know? I have been a member of pips for quite a while. Pips is in trouble for being too transparent. Lots of info was available for everyone to read on the old forum.
To come back to the question asked. I also read that someone had been paid but I honestly must say that 1 single testimony is not enough. But then again, if there's one thing I know about forums is that people vent. We'll see.

Originally Posted by boink

It is correct that picrealty does not depend on picpay nor on pips. It is a seperate business located in a different country operating under the pips umbrella. This has been a known fact for quite some time now. Question about how do I know hold no ground. The question should be; how come you don't know? I have been a member of pips for quite a while. Pips is in trouble for being too transparent. Lots of info was available for everyone to read on the old forum.
To come back to the question asked. I also read that someone had been paid but I honestly must say that 1 single testimony is not enough. But then again, if there's one thing I know about forums is that people vent. We'll see.

Ok... if it is a seperate company in a different country, why has it been closed?
Only question should be who owns it, not it's operation. Yet, No one seems to work there, phone calls aren't answered,no emails are answered, and no payments are being made.( didn't pay mine)

Pips is in trouble because it defaulted ( as in did not pay) on it's loans to us.

Boatman says

Pips is in trouble because it defaulted ( as in did not pay) on it's loans to us.

I do not agree with this. Picpay was the reason for the breakdown in transfers.

Pips is unlikely to attract that much attention from BN and there have been several posts to the effect that it is already cleared by the Bank and that Bryan is cleared to continue to run the business along with Bistro, Newmark Business Centre etc.

The default on payments was caused by the failure to adequately verify merchant accounts and some of the merchants abused the system in a way that was unnacceptable to the regulators. This business, Picpay, is the one which has been closed and with which the banks would not play ball over our transfers.

To be fair to the management I understand that in the wake of 911 there was such a welter of new regulations that it was very difficult to comply. I have even heard senior bank staff in the UK say that they did not understand it all.

So we must hope now that Pips can come up with a new system which is acceptable. Assuming the funds are still there I am sure that Bryan will come up with a way to get everything moving again, but I am equally sure that it will take some time,

Just my two bobs worth :)


Michael

Originally Posted by michaelr

Boatman says

Pips is in trouble because it defaulted ( as in did not pay) on it's loans to us.

I do not agree with this. Picpay was the reason for the breakdown in transfers.

Pips is unlikely to attract that much attention from BN and there have been several posts to the effect that it is already cleared by the Bank and that Bryan is cleared to continue to run the business along with Bistro, Newmark Business Centre etc.

The default on payments was caused by the failure to adequately verify merchant accounts and some of the merchants abused the system in a way that was unnacceptable to the regulators. This business, Picpay, is the one which has been closed and with which the banks would not play ball over our transfers.

To be fair to the management I understand that in the wake of 911 there was such a welter of new regulations that it was very difficult to comply. I have even heard senior bank staff in the UK say that they did not understand it all.

So we must hope now that Pips can come up with a new system which is acceptable. Assuming the funds are still there I am sure that Bryan will come up with a way to get everything moving again, but I am equally sure that it will take some time,

Just my two bobs worth :)


Michael

I should of said Pips /Picpay sense we do not know what failed yet. If Pips paid Pic Pay with real monies then Pic pay is clearly at fault.
I was really only making the point that Pic realty should be open if it is a seperate company

I did post here that PicRealty will stop their payments to banks for mortgages several weeks ago, but the admin of this forum decided that he/she should remove the thread.

Originally Posted by LegalEagle05

I did post here that PicRealty will stop their payments to banks for mortgages several weeks ago, but the admin of this forum decided that he/she should remove the thread.

How did you know?