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Post by angrykittens on Jan 29, 2019 8:58:30 GMT
All going well I'm aiming to attend. Hopefully there won't be a court room cat! I'm in work, you should be OK!
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Post by angrykittens on Oct 23, 2018 10:35:27 GMT
I've now sold all of my investments I possibly can, including all Bling / Cars. Judging by the speed it sold there are some happy buyers out there (even charging a premium). If I can no longer trust bling valuations or recovery then there is absolutely nothing left for me in FS (except pending recoveries). I accept that we may have got unlucky with these 2 loans, but to be comfortable I would have to see a response from fundingsecure about how they are suing their valuer, or never using them again, or goodwill making up the shortfall. But I know all of these are pipe dreams, so that's it for me.
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Post by angrykittens on Oct 22, 2018 11:59:56 GMT
This is officially my first loss on FS (although I'm also in some questionable pending loans), I'd always thought bling safe by P2P standards but I find the level of recovery on the rings quite shocking given the valuation. No comeback on the valuer etc? (Ye right, I'll see myself out)
Pretty poor given the only thing we can base an investment on in pawn loans is the valuation and item(s). Maybe time to abandon even pawn on FS...
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Post by angrykittens on Aug 26, 2018 10:58:13 GMT
Just thought I should reassure everyone, I'm actually fine
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Post by angrykittens on Aug 9, 2018 10:13:43 GMT
I think this one has been on the market a long time and is only 48% filled more than 2 months later? I think this is mainly due to an expert in this field posting what they are really worth and I am glad he did! As a matter of interest can somebody tell me what happens if this loan does not fill. I thank you If a loan doesn't fill then FS will either get an underwriter to cover the remaining balance, which essentially just means the loan is filled as normal to investors. Or the loan is cancelled, everyone gets their investment back + interest for the time it was committed to the loan.
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Post by angrykittens on Aug 7, 2018 9:24:24 GMT
All's well that ends well...
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Post by angrykittens on Aug 7, 2018 6:12:45 GMT
Very interested to see how this goes, I'm in this and a lot of the other "pawn" type loans, including the 2 that went up yesterday. Perhaps more fool me for continuing to give money to FS but I see something sparkly, or a classic car or a motorbike and think surely even FS can't mess it up...?!
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Post by angrykittens on Jul 23, 2018 11:32:50 GMT
Latest on the Vase loan (1179005019), from Live Chat:
Well, they have confidence guys! Don't know why I was ever worried about 45% LTV ratio loan that is now 230 days overdue. It wouldn't surprise me at this point if FS don't even have the items in their possession, I can't understand why else they would not have just sold the items, unless the valuation is a crock.
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Post by angrykittens on Jul 11, 2018 9:48:50 GMT
As has: 2127087124 Diamond Earrings
Has FS Woken up, I notice this update on: 4757132991 Austin Healey Classic Car
"As borrower has not repaid the loan we are investigating options for sale after the statutory 14 day period."
Are they actually trying to look after lenders? Might be hard to believe I know.
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Post by angrykittens on Jun 24, 2018 10:37:06 GMT
With the latest iteration of FS's only foray into unsecured loans now 2 months late, looks like this could finally be the end of the line for our "high profile individual". I still have no idea what FS were thinking in thinking that this might have been a good idea.. They thought about the fees and their cut of the interest...
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Post by angrykittens on Jun 18, 2018 7:16:49 GMT
I have seen several people mention they would be happy with the "1 pot for all approach". For those that have stated this, what were the majority of your holdings?
I had 99% bling and i do NOT want my selective investments to prop up those who took on risky development tranches etc.
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Post by angrykittens on Jun 11, 2018 14:28:25 GMT
Another major concern is that if they are going down the route of "one pot for all creditors" then we'll likely be forced to wait until every single loan is closed down before any funds are distributed. Any bets on how long that'll take at £500 an hour? Twice as many hours as there are thousand pounds?
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Post by angrykittens on Jun 11, 2018 13:36:08 GMT
Well if it helps me I don't know yet , but I am pretty sure I have every email to and from Collateral This, I have every email I have ever received archived in Gmail, and if necessary I can turn that into a statement, although it would be a last resort as I imagine a PITA and a lengthy process! I doubt BDO would even take emails at face value as proof anyway. Emails can be faked. I find it interesting how the administrators are planning to treat us as creditors under Section 26 as they reference in their FAQ: www.legislation.gov.uk/ukpga/2000/8/section/26 Which states: (4)This section does not apply if the regulated activity is accepting deposits.Well, one could argue, Collateral merely accepted deposits from investors, as it was always stated that loan agreements were directly between us and borrowers? Just my naive fallacy I'm sure I've no doubt the establishment will allow BDO to take a hefty chuck from the coffers and Investors will be left with short shift.
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Post by angrykittens on May 31, 2018 13:09:03 GMT
To be blunt, does it actually matter? As long as you are not libeling them, or revealing borrower names etc then why does anyone care? (And if you are then I don't think an anonymous forum name will help you.) Are FS going to block you from investing because they found out you are angry with them on a forum? They can't exactly single you out and treat you different when you invest in the same loans as hundreds of other people. (And if they did they'd be opening themselves up to far worse than a couple of belligerent posts)
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Post by angrykittens on May 24, 2018 8:42:11 GMT
I submitted a formal complaint regarding the Vases loan yesterday - 1179005019
I intend to follow their full complaint procedure to MD level and beyond to the ombudsman unless it is repaid or the item sent to auction. I don't think the complaint will get me anywhere but it will make me feel better at least!
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