Post by copacetic on Aug 11, 2016 18:11:49 GMT
Hey folks. First post but I've been lurking on the forums a while.
I dipped my toe in the water at MoneyThing today and overall I like the site. However, I was looking at some of the pending loans, specifically the CSP505/506 with MoneyThing's partner C*** S*** which seem to be very popular. Is anyone else concerned by the risk of what would happen if C*** S*** went into administration?
Not sure if I can link it or not but a quick search for them on companycheck.co.uk would lead me to believe that business isn't going particularly well (looking at the Net Worth over the past 5 years or so it's negative and seems to be rapidly decreasing).
From what I understand the electronics securities in the upcoming loans would need to be liquidated promptly to achieve their value, which might not happen in the event of CS disappearing. Also I assume it's C*** S*** who are physically holding and valuing the securities so the question is how closely do MoneyThing audit this?
Anyone else have an opinion on what the risk is to lenders from C*** S*** loans?
I dipped my toe in the water at MoneyThing today and overall I like the site. However, I was looking at some of the pending loans, specifically the CSP505/506 with MoneyThing's partner C*** S*** which seem to be very popular. Is anyone else concerned by the risk of what would happen if C*** S*** went into administration?
Not sure if I can link it or not but a quick search for them on companycheck.co.uk would lead me to believe that business isn't going particularly well (looking at the Net Worth over the past 5 years or so it's negative and seems to be rapidly decreasing).
From what I understand the electronics securities in the upcoming loans would need to be liquidated promptly to achieve their value, which might not happen in the event of CS disappearing. Also I assume it's C*** S*** who are physically holding and valuing the securities so the question is how closely do MoneyThing audit this?
Anyone else have an opinion on what the risk is to lenders from C*** S*** loans?
