criston
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Post by criston on Jul 19, 2019 16:54:07 GMT
I am next on the OP list from 9 May, and have reached 71 days today, but no sale. Now I have seen that one of my nine remaining loans went processing yesterday, and still is. I must assume that FC have noticed this and have delayed my sale slightly to allow my processing loan to make its payment and to be sold with the rest. How thoughtful of them. Your OK, mine is also at 71 days today, but not yet sold. I do not anticipate it to sell for a for up to another 4 days anyway, if I am lucky.
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criston
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Post by criston on Jul 19, 2019 17:05:51 GMT
Hello, I'm a newbie on this site as well. I have been selling since May 11th. patiently and anxiously waiting for it to go through. Your on Page 1 list now. Let us know when sold. 3 of us now at 71 days.
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criston
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Post by criston on Jul 19, 2019 17:07:16 GMT
Hello, I'm a newbie on this site as well. I have been selling since May 11th. patiently and anxiously waiting for it to go through. Your on Page 1 list now. Watch for the 3 previous ones to sell, then you should not have long to wait.
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Post by dominoman on Jul 22, 2019 5:00:31 GMT
Hi all - I just stumbled across this fantastic site when searching online about why my Funding Circle withdrawal was taking so long. I was getting worried.
I asked to sell half my loans on 11th May. Still No joy. I can see others before me also haven't. I'll update if I hear anything.
I want to withdraw more now but have to wait until this one completes.
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criston
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Post by criston on Jul 22, 2019 6:22:43 GMT
Hi all - I just stumbled across this fantastic site when searching online about why my Funding Circle withdrawal was taking so long. I was getting worried. I asked to sell half my loans on 11th May. Still No joy. I can see others before me also haven't. I'll update if I hear anything. I want to withdraw more now but have to wait until this one completes. Thanks, will add you to list
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Post by toadears on Jul 22, 2019 10:16:18 GMT
New member. Great to find other long suffering Funding Circle members on this excellent forum.
Sale requested 15/05/2019 - obviously still waiting for sale.
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criston
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Post by criston on Jul 22, 2019 10:46:29 GMT
New member. Great to find other long suffering Funding Circle members on this excellent forum. Sale requested 15/05/2019 - obviously still waiting for sale. Thanks, will add you to list
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criston
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Post by criston on Jul 22, 2019 12:18:23 GMT
We still have a 16 day period between 2/7/19 & 18/7/19 when we will be left in the dark.
The way things are going, selling times could extend by 30 days during that period.
If anyone watching has given an instruction to sell during that period please let us know.
It's easy to sign up to P2P if necessary.
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Post by seanie92 on Jul 23, 2019 9:36:41 GMT
Its crazy thats its been over 70 days to sort this mess. I dont know how anyone can justify keeping money in when it takes this long to withdraw. The whole incentive was that it was slightly more lucrative returns than a savings account and yet still as liquid. Nationwide offer 5% on £2500, which is about the same as my returns % now at 4.9% which used to be 7-8% when i started FC in 2016.
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r00lish67
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Post by r00lish67 on Jul 23, 2019 10:14:34 GMT
Its crazy thats its been over 70 days to sort this mess. I dont know how anyone can justify keeping money in when it takes this long to withdraw. The whole incentive was that it was slightly more lucrative returns than a savings account and yet still as liquid. Nationwide offer 5% on £2500, which is about the same as my returns % now at 4.9% which used to be 7-8% when i started FC in 2016. "The whole incentive was that it was slightly more lucrative returns than a savings account and yet still as liquid" . Maybe that idea incentivised you, but did FC actually write this idea down anywhere? I'd be very surprised if they have claimed that their products are just as liquid as a cash savings account. Whilst I know it's disappointing when circumstances change, they don't even promise you'll get your money back at all, never mind it being just as liquid. edit: Not that I'm particularly in the mood to defend FC. I think many of the loans they issued in 2017/18 looked utter garbage.
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ashtondav
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Post by ashtondav on Jul 23, 2019 10:40:58 GMT
Its crazy thats its been over 70 days to sort this mess. I dont know how anyone can justify keeping money in when it takes this long to withdraw. The whole incentive was that it was slightly more lucrative returns than a savings account and yet still as liquid. Nationwide offer 5% on £2500, which is about the same as my returns % now at 4.9% which used to be 7-8% when i started FC in 2016. Nope. FC never made any claim that the investment was liquid. It was a 5 year product with a secondary market. Your comments illustrate why the FCA ought to have restricted this p2p to sophisticated investors.
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Post by seanie92 on Jul 23, 2019 12:21:58 GMT
Its crazy thats its been over 70 days to sort this mess. I dont know how anyone can justify keeping money in when it takes this long to withdraw. The whole incentive was that it was slightly more lucrative returns than a savings account and yet still as liquid. Nationwide offer 5% on £2500, which is about the same as my returns % now at 4.9% which used to be 7-8% when i started FC in 2016. Nope. FC never made any claim that the investment was liquid. It was a 5 year product with a secondary market. Your comments illustrate why the FCA ought to have restricted this p2p to sophisticated investors. And i never claimed that FC claimed that, i said the whole incentive (FOR ME) was that it was still as liquid and this was the case up to DEC/JAN where you could withdraw within 3 minutes. That is pretty liquid if you ask me. And yes i was intending on being a longterm investor, almost 3 years my money has been in the account, but since march my defaults have increased 400% since march to now than fromwhen i opened to march. I think that is enough ammo to WITHDRAW your cash. I am just glad i am next in line to get my money out and leave the losses to “sophisticated investors”
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blender
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Post by blender on Jul 23, 2019 13:53:14 GMT
Don't accuse one another here. The fault lies entirely with FC who choose not to sell our loans. They have admitted this.
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corto
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Post by corto on Jul 23, 2019 13:57:42 GMT
Nope. FC never made any claim that the investment was liquid. It was a 5 year product with a secondary market. Your comments illustrate why the FCA ought to have restricted this p2p to sophisticated investors. Many of us will have tested liquidity and found it good until end of last year. Liquidity of the SM was part of the game (and is still at other platforms). Slightly after that FC changed their rules of game and did not even bother to tell us. It was their choice and nothing an investor at any level of "sophistication" could have foreseen.
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dorset
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Post by dorset on Jul 23, 2019 15:52:45 GMT
Don't accuse one another here. The fault lies entirely with FC who choose not to sell our loans. They have admitted this. Agree this thread is about a serious issue and demands a grown up conversation not silly little comments about who may or may not be "sophisticated". Respect the poster and play the ball not the man/woman.
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