r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Jan 17, 2024 17:12:01 GMT
Charge per email, a sign of things to come. Why be efficient and reduce costs? From their perspective, none.
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Jan 2, 2024 10:43:38 GMT
Not sure if AblRate requested it or if Trustpilot pulled it themselves (if at all pulled) - it was there the last I checked it 4-5 months ago. Trustpilot is proving equally un-trustworthy nowadays - they don't like any negative reviews and most of their recent reviews are +ve. They have disallowed a couple of negative reviews (one for mycommunity bank) from my partner despite providing to them the proof of investment and all the correspondence that was complained about in the review. They simply remove -ve reviews requesting a case to be lodged in case one disagrees. After lodging the case, someone came back asking for proof of ID, proof of investment and the proof of the correspondence - all of which were provided. Then it all went silent despite several followups. For the 2nd case, no one even bothered to respond to the lodged case. So, they seem to be favouring their clients who pay them the money, like the FOS !
Slightly off topic I know, but would you mind telling me what the issue was with My Community Bank? Pure fluke that I know somebody considering dealing with them.
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Dec 20, 2023 23:15:21 GMT
Well as I see it this bloke doubtless owes money to other people and I bet he has no money (on paper) - more wasted time and money over the preferred Trustee - for what to get nothing - this guarantor is not a creditor so I guess it all depends what is in the contract or to be blunt I think this will give loadsa money to the lawyers etc and damn all for us... I may be wrong and hope I am buy time will tell The thing is, 1.3 million was recovered and is sitting in a holding account due to issues with this guarantor and apparently because they needed to make him bankrupt. Job done, now what? The money is there, first charge holders money is there. Now I understand that the only people that want to see this money released to it's rightful owners is the rightful owners, but I fail to see how anyone else can have a claim on it including the administrators. But yea, as long as there is the slightest excuse to keep this money back, they will.
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Dec 20, 2023 16:56:16 GMT
Folks - I had some money in this outfit, I don't even remember how much. I have simply ignored this for years. Is there even a website in existence because I can't seem to find one., any money recovered? Shall I just go back to forgetting about it? Edit - I see the website has gone. Have you had communications from BDO? If you have these will have contained the amounts that you had invested. No website it was destroyed to cover tracks. Destroyed to cover tracks? Boy, seems I have missed a lot and some people need to go to prison. No communications found so I have written to the address that mickj gave me. It may be I registered but decided not to invest in the end, can't have been much if I did or I would not have ignored this. Cheers.
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Dec 20, 2023 16:12:41 GMT
Had all this time to move everything apply a strategy then when ready pull the plug on his own terms. This won't have been crafted for our benefit! Yup, while getting himself to Dubai. I knew this was going to happen and have said so, I suppose most of us knew really. So yea, we were being fed a load of bull all along, this was part of the plan.
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Dec 20, 2023 13:04:15 GMT
Folks - I had some money in this outfit, I don't even remember how much. I have simply ignored this for years. Is there even a website in existence because I can't seem to find one., any money recovered? Shall I just go back to forgetting about it? Edit - I see the website has gone.
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Dec 18, 2023 21:08:27 GMT
Guarantor now made bankrupt which was apparently the major hurdle to the release of 1.3 million in recovered funds. I wonder what is stopping them releasing that money now now? There's going to be something, that's for sure!
But the administrators will surely have another card up their sleeve to postpone payment...
In all the administrations I'm watching one thing has become apparent - they release funds to investors as a last option when all else has failed. I fully expect these funds to be retained as long as there is the slightest chance anybody else can make a claim on them, the slightest chance they can be used to pay for the admin at some point and as long as nobody forces them to release the funds by legal action. The only people that want these funds to come back to us is us, and we don't matter much if at all.
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Dec 18, 2023 15:19:42 GMT
Guarantor now made bankrupt which was apparently the major hurdle to the release of 1.3 million in recovered funds.
I wonder what is stopping them releasing that money now now? There's going to be something, that's for sure!
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Nov 23, 2023 10:53:05 GMT
Anyone know how long withdrawals are taking? Must be well over a week since I made mine. It's now 7 days since the money were made available for withdrawal. Last time (May 2023) it took 6 days. Ah well, nearly over a week then. Doesn't time fly when you're having fun? Ok, maybe early next week then?
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Nov 23, 2023 9:45:11 GMT
Anyone know how long withdrawals are taking? Must be well over a week since I made mine.
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Nov 19, 2023 14:29:39 GMT
why cant they release say 50% of our funds to first tranche lenders.then tell us they are keeping the rest to carry on funding themselves until it all runs out.instead they want the lot. It's unclear to me if the admins could use this money to pay themselves, but you can be sure that if they can they will. If they wanted it released it would have been done by now, no clear reason has ever been given as to why this money is being held.
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Nov 18, 2023 13:46:44 GMT
I’m trying hard to understand why the ringfenced funds can’t be released. Is the only reason because the admins are trying to get more money from the bankrupt former director of the borrowing company? Take a look at the updates on the loan, it's perfectly obvious why they cannot release the funds - NOT! It just looks to me as if they are using any excuse to hang on to those funds because one day they might be able to get their claws into them. After all, what are we going to do about it, eh?
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Nov 9, 2023 14:04:47 GMT
in my book they are grasping at straws here - bet this bloke has made plans for going bust and there will be no assets whatsoever to seize (doesn't mean he hasn't got any) - I think the chance of him releasing money to FS to prevent this are somewhat slim and about as likely as Dianne Abbot winning Mastermind
The administrators are effectively using the funds due to the 1st charge loan to chase improbable recoveries for the lower charges. One of numerous perfect administration scenarios to leech more investors' money for themselves and business associates.
Yet those funds, 1.3 million are supposed to be ringfenced. The only thing here that is perfectly clear is the administrators have no clear plan on how to get this money released to the rightful owners, just "hopes" and that can't be banked. I bet they have clear plans on how to find money to keep this shambles going though.
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Nov 9, 2023 10:37:19 GMT
lastest "update" 2 points 1) however long has this been going on for ? Steps to enforce this started in 29/01/2021 if not before 2) this bloke is clearly experienced in paper-shuffling etc (know what I mean guv!) and I refuse to believe making him bankcrupt will realise a single penny on my loan the valuation was £4.5m and it was sold for 1.5m ? (from memory) what a bloody shambles and that is being generous I was sold for 1.3 million. (Edit: Or at least that's what was received I think). This from the administrators. "If the guarantor was bankrupt, then FSL could reach an agreement with any appointed trustee in bankruptcy which will hopefully allow funds to be released."If I had just put a small amount into this then I would forget about it and get on with my life, but this first ranking loan had an LTV of something like 5% if I remember rightly, so muggins here stuck 20k in. So if the guarantor is NOT made bankrupt and that COULD turns out to be CAN'T and HOPE turn out to have been in vain - then going to happen and when? Will this be after a court has ordered that FS can use the funds to carry on its work in 2030? !
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Oct 26, 2023 8:00:46 GMT
There was a bankruptcy hearing a month ago, no updates whatsoever for mg punters.
|
|