kaya
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Post by kaya on Jul 5, 2019 8:46:00 GMT
I believe this scenario at Funding Circle would have meant the platform taking the responsibility, and repaying lenders whilst they pursued the borrower. No sign of that happening at Huddle. My remaining confidence in this platform has crashed.
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hazellend
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Post by hazellend on Jul 5, 2019 16:20:40 GMT
I haven’t read anything that gave that expectation. Huddle are pursuing the borrower for payment on our behalf
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kaya
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Post by kaya on Jul 6, 2019 8:35:28 GMT
No expectation whatsoever. It's about taking responsibility for your own failed due diligence... Huddle want lenders to 'support' their loans, but 'loans' like this achieve the opposite (with me anyway)
This one looks like fraud. If Huddle are so confidant in the 'security', they can surely afford to pay back lenders now. It is just a small loan.
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hazellend
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Post by hazellend on Jul 6, 2019 19:39:09 GMT
No expectation whatsoever. It's about taking responsibility for your own failed due diligence... Huddle want lenders to 'support' their loans, but 'loans' like this achieve the opposite (with me anyway)
This one looks like fraud. If Huddle are so confidant in the 'security', they can surely afford to pay back lenders now. It is just a small loan.
I would love it if they did that but it would probably set a precedent. I don’t think this loan looks like fraud, just an unscrupulous borrower. The property is a little high LTV at 80% to be confident of full return of capital. I see this as test of huddles ability to deal with defaulted loans. I have 2k in this one so hoping for a swift resolution
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kaya
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Post by kaya on Jul 7, 2019 13:29:17 GMT
Ah, so there is a difference between 'fraud' and being 'unscrupulous'? I had naively thought otherwise!
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hazellend
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Post by hazellend on Jul 7, 2019 16:31:16 GMT
Ah, so there is a difference between 'fraud' and being 'unscrupulous'? I had naively thought otherwise! I guess the only difference is that one is illegal
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dh1
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Post by dh1 on Jul 7, 2019 19:12:52 GMT
Probably worth remembering that Huddle - at least the 16% offerings - are almost by definition (much?) riskier than those paying less interest. Worth also pointing out that Acc*** apparently have their own skin in the game with each loan; lenders just get a bit of it.
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kaya
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Post by kaya on Jul 10, 2019 8:21:58 GMT
And by the way, why should Huddle worry about creating a precedent by refunding lenders money for a defaulted loan with zero repayments?
I mean, would they really be reckoning on having a few more of the same?
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hazellend
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Post by hazellend on Jul 10, 2019 18:08:40 GMT
And by the way, why should Huddle worry about creating a precedent by refunding lenders money for a defaulted loan with zero repayments?
I mean, would they really be reckoning on having a few more of the same?
Please suggest it to them.
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huxs
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Post by huxs on Jul 14, 2021 15:42:47 GMT
Repaid in full with 16% interest, a great result well done Huddle !!
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Post by df on Jul 14, 2021 16:03:22 GMT
Repaid in full with 16% interest, a great result well done Huddle !! Pleasant surprise. Brought me to a position where I've earned more than the invested funds left on the platform, so no expected loss on HC for me.
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