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Post by borrower on Jun 3, 2023 12:40:56 GMT
borrower I wish you well - I stopped considering Kuflink when they reduced the 1st in last out 20% investment they used to make & tried to say is was for our benefit. I unfortunately would not hold out much hope for your letter to their director - the CEO did not reassure me or many of the folk on here at the time I refer to - I seem to recall feeling very patronised by their posts on here. Very best of luck to you and the investors. Thank you, I think we need it!
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Post by overthehill on Jun 3, 2023 14:29:58 GMT
borrower , I note that Kuflink have completely ignored your comment on Trustpilot, which is very unusual for them, even though they have commented on those either side of it. Can you say whether the situation is being addressed privately? They did indeed ignore it but I have received an emailed letter giving me a couple of weeks to arrange the repayment. I am still awaiting a reply to my response - asking for a firm figure to repay and for a response to my full complaint and the complaint my solicitor sent in a couple of weeks ago. The third business day from that letter would be Monday so I expect to hear back then. Thanks to the help of investors on this platform I am at least being 'dealt' with - I think - but I am very cautious due to everything that has happened up to this point. If it is just me that they have dealt with like this then there would be no harm to them publicly apologising to my Trustpilot review once they have finished investigating my complaint - I guess the only issue for them could be if I am not the only one, that this is their practice towards borrowers and a can of worms opens up Still something peculiar going on because a borrower requesting and being given a redemption figure for full repayment on a certain date is just standard process. A borrower needs to know if that is the end of the matter financially and legally.
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jnm21
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Post by jnm21 on Jun 3, 2023 19:39:23 GMT
They did indeed ignore it but I have received an emailed letter giving me a couple of weeks to arrange the repayment. I am still awaiting a reply to my response - asking for a firm figure to repay and for a response to my full complaint and the complaint my solicitor sent in a couple of weeks ago. The third business day from that letter would be Monday so I expect to hear back then. Thanks to the help of investors on this platform I am at least being 'dealt' with - I think - but I am very cautious due to everything that has happened up to this point. If it is just me that they have dealt with like this then there would be no harm to them publicly apologising to my Trustpilot review once they have finished investigating my complaint - I guess the only issue for them could be if I am not the only one, that this is their practice towards borrowers and a can of worms opens up Still something peculiar going on because a borrower requesting and being given a redemption figure for full repayment on a certain date is just standard process. A borrower needs to know if that is the end of the matter financially and legally.
I would think so too.
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scooter
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Post by scooter on Jun 3, 2023 23:12:29 GMT
borrower , I note that Kuflink have completely ignored your comment on Trustpilot, which is very unusual for them, even though they have commented on those either side of it. Can you say whether the situation is being addressed privately? They did indeed ignore it but I have received an emailed letter giving me a couple of weeks to arrange the repayment. I am still awaiting a reply to my response - asking for a firm figure to repay and for a response to my full complaint and the complaint my solicitor sent in a couple of weeks ago. The third business day from that letter would be Monday so I expect to hear back then. Thanks to the help of investors on this platform I am at least being 'dealt' with - I think - but I am very cautious due to everything that has happened up to this point. If it is just me that they have dealt with like this then there would be no harm to them publicly apologising to my Trustpilot review once they have finished investigating my complaint - I guess the only issue for them could be if I am not the only one, that this is their practice towards borrowers and a can of worms opens up You make a valid point. No other Borrowers have ever engaged with investors regarding Kuflink. There are increasing late payers which is not unexpected, but the narrative from Kuflink is very similar to that which they say about your loan. How the hell would we know the real facts? I was prepared to give KK the benefit of the doubt, but as they have not debunked your claims I am inclined to believe you and will take their comments with a pinch of salt from now on. Ultimately, investors just don't want to lose capital and KK haven't failed on that score, yet.... Wishing you well.
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scooter
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Post by scooter on Jun 3, 2023 23:27:02 GMT
borrower Do you not have recourse to Financial Ombudsman Service ... there is certainly one complaint from a borrower on their site? Are you not also dealing with Kuflink Bridging in part who are a regulated lender themselves? Apologies if this is stuff youve already looked at. because the bridging loan to the borrower is an unregulated loan the Ombudsman hasn't any power to intervene unfortunately, they only take things forward if investors complain. . I have contacted the FCA who has said they will register what I have told them as part of their as ongoing supervision and do expect firms that are regulated to behave within their conduct even on unregulated products- again it is only investors who have the assurance of the law behind them. I did air my concerns that it would be regulated customers that would be affehicted. They said to report them to trading standards so that is my next port of call. Thanks for the advice. Hi, i have just read the financial ombudsman complaint re kuflink and although the borrowers lost the case the borrower was also dealing with bridging loans. So i see no reason why you can't raise a complaint with them if KK don't answer your complint to your satisfaction. Takes time though and you have to give them 8 weeks to give you a final response. You've come this far.
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