merlin
Minor shareholder in Assetz and many other companies.
Posts: 902 
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Post by merlin on Sept 9, 2014 17:57:04 GMT
According to FC's announcement today it now looks a total no hoper - no dosh left to pay the unsecured. I had guessed this would be the case all along but a vague flicker of hope remained for a few pence in the pound.
I am still angry with FC about this loan though, as from my perspective and without all the facts, this looked like a straight con trick and I cannot understand why the principles in this have not had their collars felt. However what ever we think no doubt FC will ignore our grippes.
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Mike
Member of DD Central
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Likes: 444
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Post by Mike on Sept 10, 2014 2:40:51 GMT
Do you mean 3032 ?
It helps if the loan number is in the thread so people can easily use the search to find any previous posts about a given loan... I also get pretty vexed when only one repayment is made. Hard not to blame FC in these cases.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on Sept 10, 2014 5:57:06 GMT
Do you mean 3032 ? It helps if the loan number is in the thread so people can easily use the search to find any previous posts about a given loan... I also get pretty vexed when only one repayment is made. Hard not to blame FC in these cases. Yes 3032. If you weren't involved at the time, this loan apart from the actual losses incurred also caused a considerable amount of angst on this forum and resulted in one or more of our stalwart members being suspended and others getting what amounted to a final warning. This in turn resulted in a revision of the rules governing what could and could not be said on here and in particular quoting material derived from press reports. Thus my reluctance to dig this patch again.
PS. For those not in the know 3032 was a large loan for £100k at the time it came on FC. Consequently a lot of people got hurt by the loss. A few that I am aware of got hit hard and I was one of them. FC have had larger loans fall over but few after just one payment. There is absolutely no doubt in my mind or that of many of the other victims that FC did a lousy DD job and particularly so when so much negative information about the borrowers was already in the public domain.
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Mike
Member of DD Central
Posts: 648
Likes: 444
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Post by Mike on Sept 10, 2014 6:35:53 GMT
Yes 3032. If you weren't involved at the time, this loan apart from the actual losses incurred also caused a considerable amount of angst on this forum and resulted in one or more of our stalwart members being suspended and others getting what amounted to a final warning. This in turn resulted in a revision of the rules governing what could and could not be said on here and in particular quoting material derived from press reports. Thus my reluctance to dig this patch again. I wasn't around then, but I had seen the Daily Mail article from the FC forums - but didn't made the link when the FC comment was added the other day. The 3032 company & directors aside, FC have really annoyed me with this loan. Totally inadequate info for some time. I bought some FF loan parts on AC - they were one of my first purchases - and I cannot convey how retrospectively upset I have become with FC's communication, now I can compare with AC. Not only the scale of how much is divulged but also the insight that (I feel) has been conveyed in AC emails. Are the guys at FC lazy (too lazy to write an extra couple of sentences or set a reminder for 9th May to update lenders), incapable, or very cautious of libel? I can get awfully riled when I look through the comments sections on loan parts - they're usually completely devoid of any useful information.
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Post by thedon on Sept 10, 2014 7:52:12 GMT
You can also add loan Mod: removed to list of probable cons.
I too are a part of a growing number of investors dissatisfied with FC's communication and vetting process.
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Post by GSV3MIaC on Sept 10, 2014 9:06:03 GMT
You can add 2070 to the list of 'bad from the first bite', pursued by FC with all the vigor you'd expect from a nonagenarian paraplegic. 8<.
Of course if I'd read the comments a little sooner ('I don't need to answer any of your questions because the loan is already fully funded, thanks for the money suckers' .. I paraphrase) I'd not have been there. This from someone with 'a good working relationships with their bank', t'was claimed .. but then Jesse James had a good working relationship with many banks, I suspect. 8>.
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Post by elljay on Sept 10, 2014 16:59:46 GMT
[mod hat on]
A reminder to stick to facts and not make unsubstantiated allegations on the forum please. Failure to heed this warning will likely lead to you being banned. If you have concerns about a loan please raise them direct with FC.
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