ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,906 
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Post by ilmoro on Jun 22, 2015 12:38:18 GMT
fundingsecure. Both loans now well overdue. BMW - Expected End Date 30 May. Update 5 June; Despite assurances no funds yet received - default notice has been sent.
Loan will be formally defaulted if no funds received by 13/6/15
Piano - Expected End Date 6 June. Update 15 June; Despite earlier discussions no funds have yet been received. We are still in contact with the borrower and hope the position will change, failing which the loan will be defaulted shortly.
We should not need to chase FS for updates. They should have a procedure and stick to it. They only provided the Piano update after I prompted them. Now 6 loans overdue I am aware of, Ring, Silverware, Piano, BMW, Print, Jewellery. 3 have had defaults sent, 1 pending, jewellery is listed for renewal but nothing happening, nothing on silverware yet. Lack of comms extremely disappointing
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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
Posts: 10,906
Likes: 11,128
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Post by ilmoro on Jun 22, 2015 18:51:25 GMT
They only provided the Piano update after I prompted them. Now 6 loans overdue I am aware of, Ring, Silverware, Piano, BMW, Print, Jewellery. 3 have had defaults sent, 1 pending, jewellery is listed for renewal but nothing happening, nothing on silverware yet. Lack of comms extremely disappointing Updates posted this evening on the FS site BMW - We are in process of arranging sale.Piano - Loan has been formally defaulted. We are in discussion with an auction house and private buyer to realise a sale.Jewellery is also being renewed tomorrow, and silverware has an update on a possible renewal. Looks like some prodding had an effect. 
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Post by bracknellboy on Jun 22, 2015 19:14:06 GMT
They only provided the Piano update after I prompted them. Now 6 loans overdue I am aware of, Ring, Silverware, Piano, BMW, Print, Jewellery. 3 have had defaults sent, 1 pending, jewellery is listed for renewal but nothing happening, nothing on silverware yet. Lack of comms extremely disappointing Updates posted this evening on the FS site BMW - We are in process of arranging sale.Piano - Loan has been formally defaulted. We are in discussion with an auction house and private buyer to realise a sale.Hopefully that will be an auction house that specialises in musical instruments not art. Or perhaps based on some recent performance it might be better if the art went to an instruments specialist, and the piano when to an art house. Maybe the Beamer could be sold at a knock off price to FCs Arthur Daley's Dodgy Motors so they would be able to turnover enough of a margin to clear the balance on their debt. Here's hoping.
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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
Posts: 10,906
Likes: 11,128
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Post by ilmoro on Jun 25, 2015 21:34:25 GMT
Art work borrower has now been tracked down and is renewing but not until 11/7. Incorrect contact details. Presumably he dozed of and must of thought he'd dream't a painting was missing. |
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Jun 26, 2015 13:20:22 GMT
Art work borrower has now been tracked down and is renewing but not until 11/7. Incorrect contact details. Presumably he dozed of and must of thought he'd dream't a painting was missing. Could this be the Crime of the Century?
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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
Posts: 10,906
Likes: 11,128
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Post by ilmoro on Jul 1, 2015 17:54:35 GMT
Diamond ring also achieved full recovery today. Just the Piano now' plus Silverware is about to default
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coop
Member of DD Central
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Post by coop on Jul 2, 2015 12:54:28 GMT
Glad you lot got your money back but the slow recovery times on some items and very low level of communication have put me off putting any additional funds into FS since the initial deposit I made; despite having seen a couple of loans here and there I wouldn't have minded being involved with.
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SteveT
Member of DD Central
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Post by SteveT on Jul 2, 2015 13:07:28 GMT
I've gone right off FS recently too, especially now the more attractive competing platforms are increasingly active (and much better managed, certainly in terms of communication). A poorly managed "problem" loan can transform one's view of a platform and there have been a couple recently on FS that mean I'm now in run-off mode and reinvesting the pay-outs elsewhere.
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kermie
Member of DD Central
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Post by kermie on Jul 3, 2015 7:21:43 GMT
Piano update:
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