blender
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Post by blender on Aug 9, 2018 14:50:09 GMT
and all FS needed to do was to contact the manufacurer and with the permission of the lender ask for a notarised copy of the bill of sale and proof of funds received assuming industry pratices were not followed in the first placeOK I should have typed as above - the point is FS should not have advanced this money without security rather then being in the total shambles that they are now in. Clearly fraud is always a possibility in the building game and this is why I am staggered this is not the first time FS seem to have been rolled over. I was in this one but thankfully ditched my holding when I sobered up... In West Cumbria (where I am) you start by assuming that to be the case, and having it proved otherwise. The only breach of rules bringing any shame, is the rule not to get caught. It seems the only thing the borrower spent money on was in reducing the security to zero, by demolishing the useful buildings. Timber frame = fantasy. Groundworks = old floors and demolition rubble. Services provided = existing services incompletely grubbed up. "See them ol' pipes and wires, Marra? Them's services."
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rogerthat
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Post by rogerthat on Aug 10, 2018 20:38:04 GMT
Could someone assist in my understanding of The Italian Job please..theres a renewal going up tomorrow Sat @ 11am..ive become a tad confused with regards to the rankings in the various loans, what with 'part paid downs' and whatnots so, in simple terms of ranking charge i.e. 1st 2nd or 3rd :-
1. 1674251397 the loan tomorrow...even I can understand this one, I think....a 2nd charge ?
I also have reasonable nibbles in the following..can you confirm the ranking please ?
2. 1461997187 3. 2463365466 4. 7727943702
Finally what is the ranking of 2064028675 ?
Thanks
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Post by boudicca on Aug 10, 2018 20:39:50 GMT
Is this the next default? FS are "in discussions with the lender" as the 1st loan is due to repay or renew today (as stated on the online chat).
If the borrower can repay the interest what is there to discuss? If the borrower can't pay the interest then it seems to me that there is yet another potentially huge default looming - hope I'm wrong. Notice this loan is renewing tomorrow, crisis over.
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Post by boudicca on Aug 10, 2018 20:45:14 GMT
Could someone assist in my understanding of The Italian Job please..theres a renewal going up tomorrow Sat @ 11am..ive become a tad confused with regards to the rankings in the various loans, what with 'part paid downs' and whatnots so, in simple terms of ranking charge i.e. 1st 2nd or 3rd :- 1. 1674251397 the loan tomorrow...even I can understand this one, I think....a 2nd charge ? I also have reasonable nibbles in the following..can you confirm the ranking please ? 2. 1461997187 3. 2463365466 4. 7727943702 Finally what is the ranking of 2064028675 ? Thanks Tomorrow's loan is a 2nd charge.
Thinking of investing ? - Thought most posters were winding down and exiting ?
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Post by df on Aug 10, 2018 20:52:25 GMT
Could someone assist in my understanding of The Italian Job please..theres a renewal going up tomorrow Sat @ 11am..ive become a tad confused with regards to the rankings in the various loans, what with 'part paid downs' and whatnots so, in simple terms of ranking charge i.e. 1st 2nd or 3rd :- 1. 1674251397 the loan tomorrow...even I can understand this one, I think....a 2nd charge ? I also have reasonable nibbles in the following..can you confirm the ranking please ? 2. 1461997187 3. 2463365466 4. 7727943702 Finally what is the ranking of 2064028675 ? Thanks 1. Yes, 2nd charge 2. 1st charge 3. 2nd charge 4. Doesn't exist 5. 3rd charge
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rogerthat
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Post by rogerthat on Aug 10, 2018 20:59:21 GMT
Could someone assist in my understanding of The Italian Job please..theres a renewal going up tomorrow Sat @ 11am..ive become a tad confused with regards to the rankings in the various loans, what with 'part paid downs' and whatnots so, in simple terms of ranking charge i.e. 1st 2nd or 3rd :- 1. 1674251397 the loan tomorrow...even I can understand this one, I think....a 2nd charge ? I also have reasonable nibbles in the following..can you confirm the ranking please ? 2. 1461997187 3. 2463365466 4. 7727943702 Finally what is the ranking of 2064028675 ? Thanks 1. Yes, 2nd charge 2. 1st charge 3. 2nd charge 4. Doesn't exist 5. 3rd charge Thanks for the help..i made a typo.. No.4 should be 7277943702 which I think is a 2nd charge ?
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rogerthat
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Post by rogerthat on Aug 10, 2018 21:01:55 GMT
Thanks yes..I agree..and my correction crossed with yours ( empirica)..which has promptly disappeared..but I know where I am now..I (perhaps insanely) ditched some 2064028675 earlier which is 3rd charge..i hope !
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empirica
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Post by empirica on Aug 10, 2018 21:08:13 GMT
Thanks yes..I agree..and my correction crossed with yours ( empirica )..which has promptly disappeared..but I know where I am now..I (perhaps insanely) ditched some 2064028675 earlier which is 3rd charge..i hope ! Yes, sorry _ I noted it had been answered as I was typing and (as all our findings agreed) figured there was no need for duplicate quotes and answers. I'd hoped I deleted before anyone had noticed! (Although I did add that it would be useful if FS made it clear with a dedicated label / tag as to what charge each and every loan held over the security.)
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Post by df on Aug 10, 2018 21:10:20 GMT
Thanks yes..I agree..and my correction crossed with yours I have bits in 1st and 2nd charge and keep setting them on green. I avoided 3rd charge just as a matter of caution, but I don't think the rank is crucial in this particular loan.
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Post by df on Aug 10, 2018 21:18:35 GMT
Thanks yes..I agree..and my correction crossed with yours ( empirica )..which has promptly disappeared..but I know where I am now..I (perhaps insanely) ditched some 2064028675 earlier which is 3rd charge..i hope ! Yes, sorry _ I noted it had been answered as I was typing and (as all our findings agreed) figured there was no need for duplicate quotes and answers. I'd hoped I deleted before anyone had noticed! (Although I did add that it would be useful if FS made it clear with a dedicated label / tag as to what charge each and every loan held over the security.) Certainly, it would be much easier for us if the charge was included in loan name (at he end of it).
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rogerthat
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Post by rogerthat on Aug 10, 2018 21:31:51 GMT
Thanks yes..I agree..and my correction crossed with yours I have bits in 1st and 2nd charge and keep setting them on green. I avoided 3rd charge just as a matter of caution, but I don't think the rank is crucial in this particular loan.No I tend to agree..but like others maybe Im trying to gain some liquidity without adding more funds while FS try and navigate their way out of the maelstrom they find themselves in. I put up some 3rd charge earlier..2064028675 at minimal discount to see how long it lasted..instantaneous..almost
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Post by df on Aug 10, 2018 21:50:41 GMT
I have bits in 1st and 2nd charge and keep setting them on green. I avoided 3rd charge just as a matter of caution, but I don't think the rank is crucial in this particular loan.No I tend to agree..but like others maybe Im trying to gain some liquidity without adding more funds while FS try and navigate their way out of the maelstrom they find themselves in. I put up some 3rd charge earlier..2064028675 at minimal discount to see how long it lasted..instantaneous..almost Don't know how it's going to work in future, but so far 3rd charge renewals were easy to pick up (comparing to 1st and 2nd charge), so hopefully you'll get it back if you need it.
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rogerthat
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Post by rogerthat on Aug 10, 2018 21:54:46 GMT
Could someone assist in my understanding of The Italian Job please..theres a renewal going up tomorrow Sat @ 11am..ive become a tad confused with regards to the rankings in the various loans, what with 'part paid downs' and whatnots so, in simple terms of ranking charge i.e. 1st 2nd or 3rd :- 1. 1674251397 the loan tomorrow...even I can understand this one, I think....a 2nd charge ? I also have reasonable nibbles in the following..can you confirm the ranking please ? 2. 1461997187 3. 2463365466 4. 7727943702 Finally what is the ranking of 2064028675 ? Thanks Tomorrow's loan is a 2nd charge.
Thinking of investing ? - Thought most posters were winding down and exiting ?
As it's a 2nd charge and at 30% LTV I suspect that most of it will already be rolled over but I might try for a nibble if there are any crumbs left
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Aug 10, 2018 23:01:04 GMT
Could someone assist in my understanding of The Italian Job please..theres a renewal going up tomorrow Sat @ 11am..ive become a tad confused with regards to the rankings in the various loans, what with 'part paid downs' and whatnots so, in simple terms of ranking charge i.e. 1st 2nd or 3rd :- 1. 1674251397 the loan tomorrow...even I can understand this one, I think....a 2nd charge ? I also have reasonable nibbles in the following..can you confirm the ranking please ? 2. 1461997187 3. 2463365466 4. 7727943702 Finally what is the ranking of 2064028675 ? Thanks Tomorrow's loan is a 2nd charge.
Thinking of investing ? - Thought most posters were winding down and exiting ?
If you're smart, you are. IMHO I have said it numerous times, it's not what you're told about a Loan, it's what you are not told. I am more than surprised at some who still invest with FS. And Good Luck to you, but for me the Trust was lost a year ago.
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adrian77
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Post by adrian77 on Aug 11, 2018 8:38:41 GMT
exactly - just look how many times we have asked about these damn boats. I am still clueless as to what is the situation with 1 or is it 2 petrol boats and whether one or more FS boats can actually complete in competions?
Apparently FS have been contacted directly for an update but constantly fobbed off.
well that was only 19 months ago...
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