blender
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Post by blender on May 2, 2019 6:49:16 GMT
Currently in my second phase of selling an ISA, and a third phase will be required. The first one took 22 days but 108 loans were caught in the 'processing' trap at the end of Feb. Today is day 41 of the second cycle, and already 13 loans have been kicked out because of the Easter 'processing' trap. Unfortunately most of the loans for sale make a repayment tomorrow - or will they go 'processing'? No point in complaining to FC. Better to complain here. It all serves to confirm my decision to exit, after many years.
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corto
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one-syllabistic
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Post by corto on May 2, 2019 7:48:42 GMT
End of week 3 and about half have gone processing or live again.
Technically FC acts as agents for us. We order them to terminate a contract with the seller by selling the loan. They may delay that for liquidity reasons, but it is not on them to cancel the order as it pleases them (or their algorithms).
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baldpate
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Post by baldpate on May 2, 2019 9:12:06 GMT
Another point for your dataset ... Sell order set up 7th April. Still waiting 2nd May
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Post by texrichman on May 2, 2019 11:14:19 GMT
Another point from me too,
Sell order placed on the 5th of April, still waiting.
Thanks,
Tex
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blender
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Post by blender on May 3, 2019 7:31:15 GMT
Currently in my second phase of selling an ISA, and a third phase will be required. The first one took 22 days but 108 loans were caught in the 'processing' trap at the end of Feb. Today is day 41 of the second cycle, and already 13 loans have been kicked out because of the Easter 'processing' trap. Unfortunately most of the loans for sale make a repayment tomorrow - or will they go 'processing'? No point in complaining to FC. Better to complain here. It all serves to confirm my decision to exit, after many years. They sold on the 41st day! And so the monthly repayments of most due today were not tested. My selling periods have been 22 days and 41 days, and today (3 May) I start the third cycle to get rid of the 12 loans which have been bounced twice so far through processing. Then the lates, defaults and risk band removed will be with me forever. Hotel California is right. Anyone keen to re-write as Hotel Funding Circle, and place the recording on YouTube? By the way, after two cycles I have extracted £300 less than the £20k over a year ago. After the third cycle I hope to have made £100, but will report in mid June.
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blender
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Post by blender on May 3, 2019 8:09:18 GMT
Yes, they sold late last night, on 2nd, which is why I avoided the processing test on 3rd. 41 days, just. The delay may have stabilised. I reckon on 90 days and three cycles to get out approximately what was put in a year ago. Truly shocking. And I notice that I have two processing already - which means a fourth cycle!
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Post by rjaps on May 8, 2019 17:22:52 GMT
I’m selling large amount of loans since 26/03/19 so Day...43???
Still nothing sold. Called FC. They said... wait longer! Not very happy! Any advice?
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SteveT
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Post by SteveT on May 8, 2019 17:27:53 GMT
I’m selling large amount of loans since 26/03/19 so Day...43??? Still nothing sold. Called FC. They said... wait longer! Not very happy! Any advice? Wait longer
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Post by rjaps on May 9, 2019 7:42:59 GMT
I will be setting up another sale order as soon as this first one has sold (day 44 now, nothing yet!) so will keep you updated!
Bring on another 46 days!
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criston
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Post by criston on May 9, 2019 8:02:02 GMT
Upon checking my account a large amount of what I requested was sold today after 46 days. Upon checking the sell page, the full amount requested showed 'still to be sold' When I checked loan parts still to be sold it showed nil. So I clicked on stop selling & it is stuck on 'It can take up to a few minutes to stop selling your loan parts' even after logging in & out. So I will have to ring FC to reset it, for me to resell.
So even though 13% of the loan parts were reduced during the waiting period I ended up with 75% of what I asked for. I did not get a confirmation email either.
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Post by klib on May 9, 2019 10:20:04 GMT
I also put in an order only 75% of which was sold, and then my sell order was considered "complete".
So now I've had to put in another order to sell, in order to get the amount I initially requested. Well, actually, this has motivated me to withdraw much more than I originally requested.
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criston
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Post by criston on May 9, 2019 10:43:07 GMT
klib; What date did do the sell order. I can then add you on the list.
My account has now been reset, so I have set up a sell order today myself. As the money in the account reduces, the percentage unavailable to sell, starts to look horrific.
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criston
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Post by criston on May 9, 2019 10:53:37 GMT
I note when you sell, the pop up mentions 44 days. They are already out of date.
I'm wondering if they are rationing everyone, to stop the queue extending.
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Post by klib on May 9, 2019 13:11:30 GMT
criston: I don't recall precisely when I placed the sell order, but 45 or so days sounds about right. What list are you wanting to put me on?
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criston
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Post by criston on May 9, 2019 13:21:57 GMT
klib; It's the first post on this thread that I started. I keep amending it as I am supplied with dates. It shows how much time each sell order is taking. I won't put you on it if you are unsure of dates.
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