Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011 
Likes: 1,013
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Post by Godanubis on Oct 12, 2018 15:16:30 GMT
Well Neath paid back at about 35% loss luckly not big enough loan for anyone to loose their shirts
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tony
Posts: 136
Likes: 91
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Post by tony on Oct 13, 2018 19:46:07 GMT
I still have loans with no update for MORE THAN 2 months! I agree that posting an update with no change is fairly pointless, but where the loan is overdue there SHOULD be some change/actions have occurred in a month to be reported! The updates on my fourteen overdue loans make sorry reading. Take a look at them and you will no doubt understand why I have stopped investing with FS until the quality of their updates improve. 1536925083 8859773920 2938283517 1966836505 2950815489 7224997259 2620469502 2688914082 2437319925 1084530215 3171765915 1205065729 2995118349 1213701687
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michaelc
Member of DD Central
Posts: 5,592
Likes: 2,935
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Post by michaelc on Oct 25, 2018 12:43:58 GMT
Is it just me or have updates in general really slowed down the past week or two?
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picnicman
Member of DD Central
Posts: 238
Likes: 216
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Post by picnicman on Oct 25, 2018 13:02:21 GMT
Is it just me or have updates in general really slowed down the past week or two? no, I was just thinking the same apart from m****sc*******s (17th). There does not seem to be any pattern - all at once or none at all, the latter of which applies to all my overdue loans! You would like to think that changes at the top will filter through improvements, but best not hold my breath. Cheers P
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michaelc
Member of DD Central
Posts: 5,592
Likes: 2,935
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Post by michaelc on Oct 25, 2018 14:36:46 GMT
Ahh I spoke too soon! Not only an update but a repayment in full!
Sadly only 88p for 2758552557 .
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trium
Member of DD Central
Posts: 384
Likes: 304
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Post by trium on Nov 1, 2018 9:29:49 GMT
7071679925
58 mins ago
Borrower has paid interest. We are awaiting an update from the borrower prior to posting the renewal.
06/09/2018
Borrower has been in touch and expects to pay interest within the next week.
7426751215
1 hour ago
Borrower is expecting completion of sale of a number of units which will realise cash to renew/repay this and other loans on the same property.
06/09/2018
We expect funds to be paid in the next 1-2 weeks that will cover interest to renew this loan.
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benaj
Member of DD Central
N/A
Posts: 5,509
Likes: 1,717
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Post by benaj on Nov 1, 2018 9:49:33 GMT
I have 7 different loans completed in October and 11 loans completed in September. My unredeemed changed changed from 3 to 2.
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arby
Member of DD Central
Posts: 910
Likes: 959
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Post by arby on Nov 1, 2018 10:45:14 GMT
I have 7 different loans completed in October and 11 loans completed in September. My unredeemed changed changed from 3 to 2. Please delete this quote immediately;it does not comply with the terms and conditions of this board which require purely negative comments to be made regarding loan completions 
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09dolphin
Member of DD Central
Posts: 637 
Likes: 863
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Post by 09dolphin on Nov 1, 2018 12:12:50 GMT
I have 7 different loans completed in October and 11 loans completed in September. My unredeemed changed changed from 3 to 2. Good news but it doesn't negate the mismanagement of loans that are anything up to 3 years overdue and still not resolved. I assume that the still active powerboat loan doesn't appear in Benji's loan book!!!!
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arby
Member of DD Central
Posts: 910
Likes: 959
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Post by arby on Nov 1, 2018 12:41:39 GMT
I have 7 different loans completed in October and 11 loans completed in September. My unredeemed changed changed from 3 to 2. Good news but it doesn't negate the mismanagement of loans that are anything up to 3 years overdue and still not resolved. I assume that the still active powerboat loan doesn't appear in Benji's loan book!!!!
Just out of interest, how many loans did you expect to go bad when you started investing? Knowing that these were high risk loans means you must have had an appetite for some risk of loss with an understanding that recovery on loans can be protracted. This isn't to say that FS are perfect by any stretch of the imagination, but the loans that are fully repaid get almost zero mention, while individual loans like the powerboats are mentioned incessantly.
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aj
Member of DD Central
Posts: 348
Likes: 465
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Post by aj on Nov 1, 2018 12:55:22 GMT
Only 14% of my FS portfolio is not overdue.
A grand total of 1 update on overdue loans in October which was 'We are currently struggling to make contact with the borrower'.
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09dolphin
Member of DD Central
Posts: 637
Likes: 863
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Post by 09dolphin on Nov 1, 2018 13:10:24 GMT
Good news but it doesn't negate the mismanagement of loans that are anything up to 3 years overdue and still not resolved. I assume that the still active powerboat loan doesn't appear in Benji's loan book!!!!
Just out of interest, how many loans did you expect to go bad when you started investing? Knowing that these were high risk loans means you must have had an appetite for some risk of loss with an understanding that recovery on loans can be protracted. This isn't to say that FS are perfect by any stretch of the imagination, but the loans that are fully repaid get almost zero mention, while individual loans like the powerboats are mentioned incessantly. With high risk loans I expect about 10% of loans to be problematic. What I don't expect is the mismanagement at the level I see from FS. This mismanagement appears to include them accepting unrealistic valuations which have little relation to previous sale prices for the property that the loan is made on. The Whitehaven loan where FS assure investors that progress has been made on the build when there is no progress whatsoever and the decision to avoid what appears to be a decision "at all costs" not to default loans as in the powerboat loan.
I am well aware that some loans repay more or less on time but there are too many loans which don't and FS seem incapable of dealing with this situation.
All my loans are now either in default or still "active" even though realistically I have little or no hope of a 25% recovery rate.
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Post by brightspark on Nov 1, 2018 13:12:34 GMT
Good news but it doesn't negate the mismanagement of loans that are anything up to 3 years overdue and still not resolved. I assume that the still active powerboat loan doesn't appear in Benji's loan book!!!!
Just out of interest, how many loans did you expect to go bad when you started investing? Knowing that these were high risk loans means you must have had an appetite for some risk of loss with an understanding that recovery on loans can be protracted. This isn't to say that FS are perfect by any stretch of the imagination, but the loans that are fully repaid get almost zero mention, while individual loans like the powerboats are mentioned incessantly. Perhaps the powerboat gets regular mentions because of the inertia surrounding the repayment of the loan - boiler plate replies and not much else. Rishton is in a similar vein but is not grumbled about as often because the borrower does seem to be making an effort to sort things e.g.the latest update.
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r00lish67
Member of DD Central
Posts: 2,692
Likes: 4,048
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Post by r00lish67 on Nov 1, 2018 15:25:24 GMT
Just out of interest, how many loans did you expect to go bad when you started investing? Knowing that these were high risk loans means you must have had an appetite for some risk of loss with an understanding that recovery on loans can be protracted. This isn't to say that FS are perfect by any stretch of the imagination, but the loans that are fully repaid get almost zero mention, while individual loans like the powerboats are mentioned incessantly. Perhaps the powerboat gets regular mentions because of the inertia surrounding the repayment of the loan - boiler plate replies and not much else. Rishton is in a similar vein but is not grumbled about as often because the borrower does seem to be making an effort to sort things e.g.the latest update. It's true. Perhaps because of the necessity to involve various parties, the Turbine recovery was managed relatively efficiently. Investors lost an absolute packet on it, and there were questionable elements to the loan promotion there too, but we don't talk about it very much anymore. Now, about my Londonderry loans fundingsecure , has the NI government gained some stability yet, are we 'imminent' ? Presumably that's also tied to Brexit, and also to Trump, and basically the global shift to nationalist fervour. I'll check in again upon the dawn of the next political epoch.
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