Post by ron on Apr 11, 2020 20:09:21 GMT
This is the reply I received from FS, when I queried about the amounts - totally NON transparent:
"Thank you for your email.
Please be advised that this matter has been reviewed and I can confirm that funds were received in full and final settlement of the loan, and the relevant deductions were made by way of fees. The appropriate calculations were then undertaken to distribute monies to investors. This was paid proportionately to the capital and is reflected as follows:
Total Capital = £72,500.00
Repayment to Investors = £84,822.97
T1) £36,000.00 | £36,000.00 / £72,500.00 x £84,822.97 = £42,118.99
T2) £16,500.00 | £16,500.00 / £72,500.00 x £84,822.97 = £19,304.54
T3) £20,000.00 | £20,000.00 / £72,500.00 x £84,822.97 = £23,399.44
Upon further review, it is noted that the calculation of interest is not wholly accurate on this occasion. However, I need to make you aware, that upon redemption of the whole loan, the associated legal costs incurred in dealing with the full and final settlement were not deducted prior to the allocation of funds to the e-wallet. As a result, there is in fact a greater amount available to the investors. It is for this reason, that we do not propose to undertake a further calculation, as this would be at a detriment to all investors, as less funds would be available. "
"Thank you for your email.
Please be advised that this matter has been reviewed and I can confirm that funds were received in full and final settlement of the loan, and the relevant deductions were made by way of fees. The appropriate calculations were then undertaken to distribute monies to investors. This was paid proportionately to the capital and is reflected as follows:
Total Capital = £72,500.00
Repayment to Investors = £84,822.97
T1) £36,000.00 | £36,000.00 / £72,500.00 x £84,822.97 = £42,118.99
T2) £16,500.00 | £16,500.00 / £72,500.00 x £84,822.97 = £19,304.54
T3) £20,000.00 | £20,000.00 / £72,500.00 x £84,822.97 = £23,399.44
Upon further review, it is noted that the calculation of interest is not wholly accurate on this occasion. However, I need to make you aware, that upon redemption of the whole loan, the associated legal costs incurred in dealing with the full and final settlement were not deducted prior to the allocation of funds to the e-wallet. As a result, there is in fact a greater amount available to the investors. It is for this reason, that we do not propose to undertake a further calculation, as this would be at a detriment to all investors, as less funds would be available. "
