blender
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Post by blender on Sept 17, 2019 16:01:12 GMT
Yes 'pause lending' on 'lending settings' tab.
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b
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Post by b on Sept 17, 2019 16:13:22 GMT
Yes 'pause lending' on 'lending settings' tab. Thanks, but I don’t have that option on the lending settings tab. It just says “you will be able to resume lending once the sale process is complete”. Does that mean by default it won’t use available funds during the selling process? I’ll experiment by leaving it to get to £200 before withdrawing funds again. That said it’s not difficult to withdraw funds daily with the iPad app, but it will make my bank statement long with daily withdrawals!
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criston
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Post by criston on Sept 17, 2019 17:05:49 GMT
Yes 'pause lending' on 'lending settings' tab. Thanks, but I don’t have that option on the lending settings tab. It just says “you will be able to resume lending once the sale process is complete”. Does that mean by default it won’t use available funds during the selling process? I’ll experiment by leaving it to get to £200 before withdrawing funds again. That said it’s not difficult to withdraw funds daily with the iPad app, but it will make my bank statement long with daily withdrawals! Selling prorogues lending.
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b
Posts: 16
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Post by b on Sept 17, 2019 17:15:15 GMT
Thanks, but I don’t have that option on the lending settings tab. It just says “you will be able to resume lending once the sale process is complete”. Does that mean by default it won’t use available funds during the selling process? I’ll experiment by leaving it to get to £200 before withdrawing funds again. That said it’s not difficult to withdraw funds daily with the iPad app, but it will make my bank statement long with daily withdrawals! Selling prorogues lending. Thanks. Two months ago I wouldn’t have known what that prorogue meant, I guess we all do now!
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keitha
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2024, hopefully the year I get out of P2P
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Post by keitha on Sept 18, 2019 7:46:44 GMT
HMM
today I should have clicked over another £100 so was going to with draw the funds, the transactions are showing in the log, but not a penny had added to yesterdays total funds available to withdraw, yes I have another default but that affects invested funds not available
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blender
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Post by blender on Sept 18, 2019 8:20:31 GMT
Don't worry. It should catch up during the day.
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Post by Mr Smith on Sept 18, 2019 14:20:19 GMT
Anyone look at trust pilot for FC today ?
There is a post ( 1 star ) saying, what happens if FC goes bust !!!
Got to laugh.
I dont think this will be helping potential investors if they see it.
The borrowers, oddly enough, still love it.
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dorset
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Post by dorset on Sept 18, 2019 16:48:18 GMT
Of course borrowers love it. Easy cash, few checks, go into liquidation and walk away. What's not to like?
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ashtondav
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Post by ashtondav on Sept 18, 2019 17:51:00 GMT
Of course borrowers love it. Easy cash, few checks, go into liquidation and walk away. What's not to like? FC are as tight as two coats of paint compared to Funding Secure! Returns on FC are intergalactic compared to the incompetence of FS who not only lend to the financially incontinent but also serial fraudsters. FC merely got caught up in their own IPO hype. They’ve got that sorted now - FS haven’t! p2p - if it could be classed as misselling it would be, misselling.
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vckid
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Post by vckid on Sept 19, 2019 9:16:55 GMT
So we are up to 108 days! Not long to go before we reach 120 😬
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criston
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Post by criston on Sept 19, 2019 9:22:04 GMT
So we are up to 108 days! Not long to go before we reach 120 😬 Look at Page 1 of this thread, it's around 112 days live.
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vckid
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Post by vckid on Sept 19, 2019 9:39:46 GMT
So we are up to 108 days! Not long to go before we reach 120 😬 Look at Page 1 of this thread, it's around 112 days live. FC claiming 108 average on the website was my reference. Seems out of sync!
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 19, 2019 9:54:58 GMT
FC gets the wooden spoon (havent read it all as paywalled)
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ashtondav
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Post by ashtondav on Sept 19, 2019 10:32:59 GMT
The key part:
“The normal lifespan of these investments should be the length of the initial loan period,” he warned. “If investors try to fight that by buying and selling mid-loan, they will sometimes get caught out."
Mr Faulkner said he expected it would take months for Funding Circle's liquidity crisis to ease.
I’m surprised FS didn’t get a mention. No chance of getting anything out of them. FC - a bed of roses in comparison!
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Post by shanghaiscouse on Sept 19, 2019 11:17:10 GMT
The key part: “ The normal lifespan of these investments should be the length of the initial loan period,” he warned. “If investors try to fight that by buying and selling mid-loan, they will sometimes get caught out."
Mr Faulkner said he expected it would take months for Funding Circle's liquidity crisis to ease. I’m surprised FS didn’t get a mention. No chance of getting anything out of them. FC - a bed of roses in comparison! In a normal world, where FC was trying to grow its business by relying on cost savings from using technology to avoid all the physical costs of a bank branch network then this idea of assuming the normal lifespan to be the length of the loan would make sense. But in a world where they run out and throw money at anybody who asks for it then they have caused huge defaults and panic among the investor base, and what we are seeing is essentially a run, hence ever increasing withdrawal times. And I wish the media would stop calling it a P2P!!!!!!
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