|
Post by Please turn me over on May 28, 2021 6:06:54 GMT
Notification from CH on an extension of the period of administration (but don't know for how long yet). Haven't the directors of this business had tea & biscuits with their local constabulary yet? Four years. Plenty of time for the admins to feed at the trough.
|
|
ptr120
Member of DD Central
Posts: 1,198
Likes: 1,346
|
Post by ptr120 on May 28, 2021 6:55:03 GMT
Talk about a long drawn-out recovery!
|
|
|
Post by harryvederci on Mar 21, 2022 14:31:09 GMT
|
|
|
Post by investor1925 on Mar 21, 2022 16:22:29 GMT
What about a long prison sentence as well, clearly fraud/theft or something like that
|
|
11025
Member of DD Central
Posts: 718
Likes: 830
|
Post by 11025 on Mar 25, 2022 9:15:49 GMT
I must admit I am totally and utterly disgusted by this whole sorry chain of events here . I lent against the 360 Ferrari at 50% LTV. Tbh I would have bought the car myself at that money ( can't afford it now !) I didn't see any concern on a 50% ltv on this vehicle. Then it turns out Moneything either through a total lack of knowledge and understanding or lack of care and diligence have not actually put an HPI/Experian marker on the car - which I and every other funder I have spoken to deem to be a pre-requisite when a car is security on a loan , so the car then gets financed again elsewhere , this immediately means lenders have just been fleeced for 20+K . Then after the car is sold we find out that although there was nothing in the loan particulars to say so the car was actually in a "floating/shared" position with other RCC loans. I feel as if I have been dealing with wide boy dealers from the 70's not FCA authorised companies. So after all this Monething take their money and walk away and so does Ian Parsons at RCC. As Ozboy points out there is zero accountability here. By the way I hadn't got a massive sum in this , it is purely the principles involved here that turn my stomach
|
|
merlin99
Member of DD Central
Posts: 126
Likes: 269
|
Post by merlin99 on Mar 25, 2022 9:51:45 GMT
I must admit I am totally and utterly disgusted by this whole sorry chain of events here . I lent against the 360 Ferrari at 50% LTV. Tbh I would have bought the car myself at that money ( can't afford it now !) I didn't see any concern on a 50% ltv on this vehicle. Then it turns outs Moneything either through a total lack of knowledge and understanding or lack of care and diligence have not actually put an HPI/Experian marker on the car - which I and every other funder I have spoken to deem to be a pre-requisite when a car is security on a loan , so the car then gets financed again elsewhere , this immediately means lenders have just been fleeced for 20+K . Then after the car is sold we find out that although there was nothing in the loan particulars to say so the car was actually in a "floating/shared" position with other RCC loans. I feel as if I have been dealing with wide boy dealers from the 70's not FCA authorised companies. So after all this Monething take their money and walk away and so does Ian Parsons at RCC. As Ozboy points out their is zero accountability here. By the way I hadn't got a massive sum in this , it is purely the principles involved here that turn my stomach
|
|
merlin99
Member of DD Central
Posts: 126
Likes: 269
|
Post by merlin99 on Mar 25, 2022 9:53:45 GMT
You ae absolutely right about the principal of the matter and IMO lying at the core is the effective mal-practice of the FCA in not controlling P2P properly.
|
|
11025
Member of DD Central
Posts: 718
Likes: 830
|
Post by 11025 on Mar 25, 2022 10:07:12 GMT
You ae absolutely right about the principal of the matter and IMO lying at the core is the effective mal-practice of the FCA in not controlling P2P properly.
|
|
ptr120
Member of DD Central
Posts: 1,198
Likes: 1,346
|
Post by ptr120 on Jun 30, 2022 9:48:26 GMT
latest administrator's report now available on CH, and it is a right mess. Administration extended until 2025.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,868
Likes: 11,097
|
Post by ilmoro on Dec 20, 2022 7:50:46 GMT
Another admin report available on CH ... seems to be going nowhere
Totally baffled by the concept of a 'refinance' which doesnt actually repay the existing finance but stops you from having to pay interest for 2 yrs.
Oh and apparently despite the fact most of the cars disappeared, there are no avenues to pursue for the benefit of creditors. I can think of a few that creditors would enjoy if not benefit
|
|