keitha
Member of DD Central
2024, hopefully the year I get out of P2P
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Post by keitha on Jan 5, 2024 16:05:12 GMT
yesterday having updated my spreadsheets and moved the sold off ones, i decided to look at the remaining few (6)
look at the first and see a note from June 2021 saying investors will be updated in due course, the next appears that some recovery may be possible the next 2 both had notes on 10th November saying recovery actions complete scrolled down the comments and find a whole bunch issued on 10 November some of which have been sold off.
then I almost choked on my coffee:-
of the 3 remaining that maybe there will be recovery on, 1 is a firm of solicitors another is a firm that seems also to be legally based.
it struck me that the company or companies buying debts from FC didn't want anything to do with firms that might know the law, not that I'm in any way implying that these people use underhanded and possibly illegal methods of recovering debts
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bloodycat
Member of DD Central
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Post by bloodycat on Jan 5, 2024 17:16:02 GMT
I doubt it is to do with the methods used by the debt collection companies (not that I am dsicounting they may use underhand tactics) - but why would they buy bad debts where the likelihood of being any assets to seize is very low as even an incompetent law firm would have made sure that none of the individuals were liable - same with accountants.
I never did like loans to 'professional services' companies where effectively the only assets are basic office furnishings.
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rocky1
Member of DD Central
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Post by rocky1 on Jan 5, 2024 17:34:23 GMT
you never mentioned administrators who are personally liable for nothing that they do.
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benaj
Member of DD Central
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Post by benaj on Jan 5, 2024 17:46:53 GMT
I've the just checked my partner's FC account, one of the live loans is in the professional and support sector, paying 15.9% interest. Apparently, it's a CCTV monitoring business.
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