james21
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Post by james21 on Sept 3, 2019 15:00:03 GMT
Looks like 5 linked loans same borrower as all updates the same today, the usual FS story we cant get hold of the borrower, shakes head in disbelief
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Doc
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Post by Doc on Sept 3, 2019 16:07:50 GMT
The updates may be the same, but it's definitely not the same borrower.
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iRobot
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Post by iRobot on Sept 3, 2019 16:19:34 GMT
Looks like 5 linked loans same borrower as all updates the same today, the usual FS story we cant get hold of the borrower, shakes head in disbelief Plenty of these loans have threads on FS DD indicating they aren't to the same borrower. Some with posts liked by the OP. "shakes head in disbelief" -- Indeed.
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james21
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Post by james21 on Sept 3, 2019 16:28:51 GMT
Looks like 5 linked loans same borrower as all updates the same today, the usual FS story we cant get hold of the borrower, shakes head in disbelief Plenty of these loans have threads on FS DD indicating they aren't to the same borrower. Some with posts liked by the OP. "shakes head in disbelief" -- Indeed. A quick look in DD will show some linkage, and linkage on other loans not updated in this group today, I checked before my original post, I dont know how many are linked. I said "looks like" and yes cant get hold of borrower does deserve the comment "shakes head in disbelief"
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adrian77
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Post by adrian77 on Sept 3, 2019 19:53:06 GMT
After reading all of today's updates - at least 2 have done a Chuka and looks like even more legal action to be launched- I just can't see how FS are going to cope with all this legal action 0 hopefully I am wrong but time will tell...
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arby
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Post by arby on Sept 3, 2019 20:12:27 GMT
Tenth time in the last day or two you've stated that all the legal action will bring down FS. Yes, we get your stance.
Perhaps also we now understand FS's stance where they've clearly stated since the beginning of the year that they aren't taking on new loans specifically for the reason to allow them to concentrate on the past loan book. I'm sure it will be a challenge, nobody would contend otherwise.
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adrian77
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Post by adrian77 on Sept 3, 2019 20:33:00 GMT
It will be FS's gross incompetence that will bring FS down - if they are bought down - personally I give it 50-50. I think whether the art loans are a 100% loss will be pivotal.
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iRobot
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Post by iRobot on Sept 3, 2019 23:46:03 GMT
It will be FS's gross incompetence that will bring FS down - if they are bought down - personally I give it 50-50. I think whether the art loans are a 100% loss will be pivotal. You think FS will survive until there's an outcome on the MG case? (A final outcome. Once all the appeals etc are exhausted and capital - whatever the amount - is returned to lenders.) And do you really think 100% loss is a possibility? I guess you must given it's 'pivotal'. Which do you think is more likely, a 100% return of capital, or 100% loss?
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petrichory
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Post by petrichory on Sept 3, 2019 23:59:26 GMT
I disagree - FS's past negligence, in combination with their current under-funding and under-staffing, will result in a domino effect of even less funding and worse staff retention.
In a worst-case scenario, the viable side of their loan book will get spun off by a competitor, leaving FS as a rudderless, de facto bad bank with all the dud loans. Hear me now quote me never.
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adrian77
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Post by adrian77 on Sept 4, 2019 6:29:18 GMT
Sadly yes - in fact a strong possibility. What have we got
1) no control over the assets- don't even know where we are we think they may be in Dubai!
2) a borrower in Spain undergoing "psychological treatment" - probably can't stop laughing disorder
3) borrower who is "bust" on paper anyway
4) borrower being sought by the FBI - (no US/Spain extradition treaty)
5) on the other hand only possible plus option is that this chaps pays up to stop him being arrested with a European arrest warrant and returned to the UK where the Feds can get their hands on him. - Hasn't happened yet so I am not over-confident it will
Happy for an alternative opinion as I am in 8 of these art loans (never realised they were linked)...
I thank you
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Doc
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Post by Doc on Sept 4, 2019 8:26:17 GMT
Happy for an alternative opinion as I am in 8 of these art loans (never realised they were linked)... I thank you Judging from your posts, you claim to be in most of the loans on FS and since the landrover repaid, by your own admittance, around £400 left on the platform.
How can you be in so many loans with only £400 left on the platform? Answers on a digital post card.
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09dolphin
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Post by 09dolphin on Sept 4, 2019 8:37:30 GMT
Happy for an alternative opinion as I am in 8 of these art loans (never realised they were linked)... I thank you Judging from your post's you claim to be in most of the loans on FS and since the landrover repaid, by your own admittance around £400 left on the platform.
How can you be in so many loans with only £400 left on the platform? Answers on a digital post card?
Does anyone else find it rather spooky that Contrarian seems to be tracking people who declare the amount they still have "invested" in Zombie loans? Just for your information Contrarian and so you can keep your records up to date I still have the same capital amount invested in the Zombie loans as I had a year ago. I don't take any comfort in knowing that interest is still accruing as the probability of interest being paid is exactly nil.
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adrian77
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Post by adrian77 on Sept 4, 2019 8:41:41 GMT
spooky and suspicious - also wrong on more than one occasion
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Doc
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Post by Doc on Sept 4, 2019 8:55:02 GMT
spooky and suspicious - also wrong on more than one occasion Really :-)
So I guess continually posting negative and often incorrect information about a site where you have very little invested is not a bit suspicious.
Whilst at the same time, not commenting or investing on any other P2P platform, again not at all suspicious.
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r00lish67
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Post by r00lish67 on Sept 4, 2019 8:58:05 GMT
Judging from your post's you claim to be in most of the loans on FS and since the landrover repaid, by your own admittance around £400 left on the platform.
How can you be in so many loans with only £400 left on the platform? Answers on a digital post card?
Does anyone else find it rather spooky that Contrarian seems to be tracking people who declare the amount they still have "invested" in Zombie loans? Just for your information Contrarian and so you can keep your records up to date I still have the same capital amount invested in the Zombie loans as I had a year ago. I don't take any comfort in knowing that interest is still accruing as the probability of interest being paid is exactly nil. I think he's just a little tired of the extensive and confused posts from someone who has very little knowledge, very little invested in the platform, and yet seems obsessed with it. He's not alone. Verbal diarrhea like " Ooh I don't really get this one, but it doesn't sound good - I'm very worried about it, I think this could be a 75% loss. When I sold a house once it was much easier and so this block of flats should be easy to sell. Just sell it!" starts to grate after a while. If one is going to dig into how the platform is behaving, then do it properly - look at posts such as those from petrichory today . Specific, detailed, informative, useful! I should add that I no longer invest with FS, but am hopeful of one day receiving some of my locked-in funds back from them. I value holding FS to account, but I don't value tirades of inaccurate nonsense.
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