adrian77
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Post by adrian77 on Dec 23, 2019 12:08:41 GMT
yes - sorry - can't get the staff my typing error - what really worries me is how much we are going to end-up paying the administrators/administrators - e.g. art loans, Lytham St Annes could cost an absolute fortune in legal fees and we still get nothing back on these loans but these fees still come out of the total loan book recovery
Also I am still confused about the dissacord on the CC - could we possible have more details which includes the exact state of each member e.,g. underwriter or not, hit hitter and if so in which loans and any other salient interest.
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adrian77
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Post by adrian77 on Dec 22, 2019 13:49:12 GMT
Like most of us I don't doubt I am looking at a <50% loss on my zombie loan book. Very true the last few have come good but these were the minority that were basically sound and just needed a nudge to pay-up. This is in sharp contrast to numerous others which ,for whatever reason, don't have a bat's chance in hell of being anything other than a complete disaster - speedboat(s), art loan, Formby, Lytham St Annes etc etc
What is the FS spin going to be - we won the business argument but lost the client's money!
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adrian77
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Post by adrian77 on Dec 21, 2019 18:11:59 GMT
Well there's a damn good question!
This one always puzzled me - just hope the investors get more back at a later date!
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adrian77
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Post by adrian77 on Dec 11, 2019 10:49:38 GMT
thanks for the above - I meant to say all loans so we can see what progress is being made e.g. I am not in the Bootle loan as it was hit with the smutty stick by many of us but was interested to see the VR which may or even may not have mentioned this ransom strip.
Speaking of being held to ransom...
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adrian77
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Post by adrian77 on Dec 10, 2019 18:17:11 GMT
As several of us said this is clearly a mega horlicks all round What annoys me is that the FS updates don't make sense :
planning yes/no freehold/leasehold yes/no able to repossess yes/no
also looks like only potential planning for commercial use ?
here is what I wrote earlier
Well we aren't going to get anywhere near this are we ! What a disaster - wonder if yet another 75% capital loss in on the cards once the mega fees are deducted?
Can we ask the administrators to restore access to the loan listings - I like to check mine and I am really not happy about them being suppressed
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adrian77
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Post by adrian77 on Dec 9, 2019 11:03:46 GMT
totally agree with the above and rest of the post - but I would add I am starting to wonder just what was the original game plan of these new investors and that is being generous!
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adrian77
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Post by adrian77 on Dec 8, 2019 16:52:09 GMT
The above is well worth reading if not worrying! I will not be the only one to be extremely annoyed if the ex FS director takes a share of our money when OUR egregiously mismanaged and overvalued assets are realised!
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adrian77
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Post by adrian77 on Dec 7, 2019 18:09:07 GMT
it was only 4 working days late- I think that shows where the administrators are coming from!
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adrian77
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Post by adrian77 on Dec 7, 2019 17:47:02 GMT
All this talk about regional variations etc is very true but there was no excuse whatsoever for FS lending money against what in many cases were fantastical valuations - just look at what MrC has reported back regarding the linked loans for the A*** lodge houses etc. To be fair to FS (not easy) other p2p companies used similar ridiculous valuations not least the affair with our hard black pencil friends and a certain castle!
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adrian77
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Post by adrian77 on Dec 7, 2019 17:10:57 GMT
I may well be....think the election result and Brexit will have an effect. However sadly doesn't look as if I was wrong about warning about the FS loan book when I did my top 40 mega list!
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adrian77
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Post by adrian77 on Dec 6, 2019 11:47:44 GMT
nearly a year late and now suddenly all repaid - wonder why that is - however yet another good recent result - hope it lasts...
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adrian77
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Post by adrian77 on Dec 5, 2019 18:06:14 GMT
this is from Italian Book Collection - Renewal (2572470208)
You are quite correct however much does to cost to transport 5000 books to London and I presume store them in a special environment - the valuer was Dutch based and does not mention where he inspected the books (unless I missed it). And just why would a Sicilian family need to approach a tiny UK P2P company or don't they have banks in Italy who cater for such people? I guess the administrator are already doing a stock-check of the assets but I am coming over all Whitehavenly and need to lie down...and yes I did wonder who actually owned these books but can't trace the family.
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adrian77
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Post by adrian77 on Dec 5, 2019 17:49:47 GMT
said it would come good so pleased for the investors! Sadly not very happy about most of the other properties...
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adrian77
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Post by adrian77 on Dec 5, 2019 11:46:57 GMT
won't argue with that but at least it looks as if FS actually have control of these books which are in London storage (or so we were told) - be grateful they have not been given away and thought to be in Dubai!
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adrian77
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Post by adrian77 on Dec 4, 2019 18:22:58 GMT
Be interested to know where we are with this one (I am in it) We were told there was a buyer so no idea if that has progressed - I just hate to think how much this is costing us in maintenance and security let alone the mega expected capital loss.
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