11025
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Post by 11025 on Oct 25, 2019 12:54:52 GMT
Either some useful information with be made available by the administrators or this loan will be laid bare to be seen for what we suspect it is.....
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Post by mrclondon on Nov 13, 2019 12:19:14 GMT
Both loans now defaulted on the website.
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KoR_Wraith
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Post by KoR_Wraith on Nov 13, 2019 13:31:19 GMT
The defaulting of loans such as these is long overdue. In some ways I think it would have been better for FS to go bust last year and save us a year's worth of unpaid interest.
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adrian77
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Post by adrian77 on Nov 13, 2019 14:05:49 GMT
About time - with hindsight as a perfect science it is a shame these boats or boat were not put to auction when some of us asked. Just can't wait to see how many boats there are and how many have an engine! This one is going to be one of many mega-disasters! In fact the loan book is so bad I wonder if it will be a waste of time and money trying to do anything else then ditch the assets at auction and take whatever is offered.
Complete and utter disaster all round- there was a tiny minority of you who criticised my top 40 and were consistently negative towards me so you are welcome to apologise as myself and others were clearly 100% in being worried about FS and trying to warn about this impending disaster...
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rocky1
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Post by rocky1 on Nov 13, 2019 14:11:25 GMT
looks like your top 40 is going to turn into a top 100 the way things are going or has somebody got their finger stuck on the default button.as with LY,COLL,what a bloody mess.
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squid
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Post by squid on Nov 13, 2019 14:23:09 GMT
And, unfortunately a potentially very expensive mess for investors.
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kermie
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Post by kermie on Nov 13, 2019 19:43:54 GMT
And unfortunately now that my P2P interest is going to be really low this year, it means I probably won't be able to offset against tax. Had they been marked as "Unredeemed" at a sensible time (i.e. earlier tax years), I'd have at least been able to do that! Grrr.
Any suggestions?
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Monetus
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Post by Monetus on Jan 6, 2020 20:18:12 GMT
It appears that the borrower may have lost their major car manufacturer sponsor (finally) having a quick gander at their social media.... something of a "re-brand" on the cards it seems.
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Greenwood2
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Post by Greenwood2 on Jan 6, 2020 20:37:18 GMT
And unfortunately now that my P2P interest is going to be really low this year, it means I probably won't be able to offset against tax. Had they been marked as "Unredeemed" at a sensible time (i.e. earlier tax years), I'd have at least been able to do that! Grrr.
Any suggestions?
You can move losses forward, four years I think but if you are getting out of P2P this may not help a lot.
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rogerthat
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Post by rogerthat on Jan 6, 2020 22:02:51 GMT
And unfortunately now that my P2P interest is going to be really low this year, it means I probably won't be able to offset against tax. Had they been marked as "Unredeemed" at a sensible time (i.e. earlier tax years), I'd have at least been able to do that! Grrr.
Any suggestions?
You can move losses forward, four years I think but if you are getting out of P2P this may not help a lot.There was a post on FB (FSAG) relating to Kermies' post above..which also interested me as I too (being fairly recently retired) do not now have sufficient income/tax liability to set off some of the horrendous losses yet to materialise and as noted, had some of these loans been 'Defaulted' in a timely manner K's of £'s I paid in tax in the last two financial years, could have had these losses utilised. In fact I am currently in dispute with my own accountant regarding the very same thing in regard to the financial year 18/19 (I was S/E) settlement of which has to be paid by 31/01/20. As I understood from the post on FB..losses for the year 17/18 can be set off against the year 18/19. 4 years is news to me..anyone with any authoratitive knowledge ?
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squid
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Post by squid on Jan 6, 2020 22:16:30 GMT
Yes - the 4 year carry forward rule is detailed on page 16 of SAIM 12000 (SAIM 12140).
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rogerthat
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Post by rogerthat on Jan 6, 2020 23:07:54 GMT
Yes - the 4 year carry forward rule is detailed on page 16 of SAIM 12000 (SAIM 12140). Thanks for that..
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jonno
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nil satis nisi optimum
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Post by jonno on Jan 7, 2020 10:46:11 GMT
Has anyone claimed this as a loss in their 18/19 return even though FS hadn't?
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adrian77
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Post by adrian77 on Jan 7, 2020 11:40:52 GMT
had a quick look - twitter/instagram account not available - main web site flagged as "Your connection is not private" a tad worrying what! Well this looks like another mega disaster as we predicted...
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Post by brightspark on Jan 7, 2020 12:16:25 GMT
You are being too polite. I and many others no doubt yourself included attempted to put an end to the years of procrastination. On at least one occasion I spoke directly with the senior member of FS staff who I believe currently remains employed by the Administrators to assist winding down. Every time I enquired I was fed increasingly unbelievable excuses to such an extent that it was incomprehensible as to how/why a reputable sponsor had allegedly been/remained involved. Fortunately my investment in this loan was minute so a very cheap lesson. Every aspect of this loan was awful. I suspect its death throes will drag on for years with lenders never receiving any remotely satisfying answers as to where the money actually went.
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