gurberly
Member of DD Central
Posts: 168 
Likes: 98
|
Post by gurberly on Jan 22, 2018 17:02:07 GMT
3 months of being patient and you push it another month.... you seem to have gone all soft!!! Questions... fundingsecure Why not go ahead with the Tuscon show? If it recovers capital and interest, why delay things? Surely after this length of time you should be looking after the lender now, not the borrower? Who recommended the Tuscan show if your dealer now suggests another show? Who is your dealer? What show (location and dates please) is being recommended by your dealer? Yet again you indicate a course of action then change your minds Regards |
|
adrian77
Member of DD Central
Posts: 3,920
Likes: 4,145
|
Post by adrian77 on Jan 22, 2018 18:02:25 GMT
totally agree - why not get the damn thing sold to a dealer in Convent Garden.
US auction fees are high - not sure how long before the funds are released and the dollar is falling against the Pound so not only will there be shipping and auction costs there will be a currency conversion charge and a loss in the dollar value.
I am in this loan and not very happy about this continual delay...
|
|
mariner
Member of DD Central
Posts: 168
Likes: 338
|
Post by mariner on Jan 22, 2018 18:52:53 GMT
"They are awaiting funds which are waiting to be released from a trust"
This appears to becoming a recurring theme across more & more loans across FS
FS will believe anything
|
|
gurberly
Member of DD Central
Posts: 168
Likes: 98
|
Post by gurberly on Feb 26, 2018 14:46:59 GMT
Latest update But surely FS want the original... you cash in the copy!    That said, if it's ready for collection, I'll volunteer to pop in and collect it provided FS cover my expenses.... D |
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on Feb 26, 2018 19:00:48 GMT
Unfortunately some significant details are missing from the fundingsecure update... - Where is the draft ready for collection from? (I.e. here or abroad?)
- Who is the payee of the draft? (I.e. the borrower or FS?)
- What is the amount of the draft? (Are we talking about a repayment, or a renewal attempt?)
The answers to those questions would give us some clues as to whether notable progress has been made or just a small bit, with further delays yet to come.
If it turns out that we're headed for a renewal, what are the chances that FS investors will fund it? I accept that FS investors usually are pretty willing to invest in bling, but this loan is £60k and the history of this loan isn't exactly encouraging.
|
|
adrian77
Member of DD Central
Posts: 3,920
Likes: 4,145
|
Post by adrian77 on Feb 26, 2018 22:00:10 GMT
Damn good idea - hope this gem is on its way to HK as I am sick and tried of these constant effete updates - "next week", "next month", "soon", "we expect", "we anticipicate", "we are awaiting", "we haven't a clue but are playing for time etc etc".
Have FS ever heard of a notarised contract and recorded delivery!
I don't want to hear this sale has been cancelled whilst FS are still awaiting this draft ....
|
|
adrian77
Member of DD Central
Posts: 3,920
Likes: 4,145
|
Post by adrian77 on Feb 27, 2018 8:51:54 GMT
update
I note this loan was supposed to have been repaid on 03/10/17
Well how long do FS want!
I was hoping to re-invest the loan proceeds in another loan but fat chance of that...
|
|
|
|
Post by Deleted on Feb 27, 2018 9:41:31 GMT
You'd think after so many houses have run into trouble, the odd boat that they would want one item class to be managed firmly... Maybe the claims department's boss just wants to run a bigger department?  |
|
|
|
Post by spareapennyor2 on Mar 14, 2018 15:46:58 GMT
latest / the payment be delayed until Monday March 19 - one week after the bank draft has cleared.
then expect it will take a week to cash it?
|
|
adrian77
Member of DD Central
Posts: 3,920
Likes: 4,145
|
Post by adrian77 on Mar 14, 2018 17:30:26 GMT
This bloke is having a laugh - flagged by whom and does it matter! Swift payments actually take under 20 minutes the delay is due to the rip-off banks earning money on the sum but it should still be transferred within 5 days if from the US! Or less if from Europe...
This was due for repayment on 03/10/2017
and this latest twaddle has been going on for over 2 weeks - repossess the damn thing and give myself and other lenders our money back!
I often send money abroad - as my dealings are all legit I don't care if they are flagged or not - although I thought all transactions were flagged anyway....
|
|
jo
Member of DD Central
dead
Posts: 741
Likes: 498
|
Post by jo on Mar 14, 2018 18:38:36 GMT
This bloke is having a laugh - flagged by whom and does it matter! Swift payments actually take under 20 minutes the delay is due to the rip-off banks earning money on the sum but it should still be transferred within 5 days if from the US! Or less if from Europe... This was due for repayment on 03/10/2017and this latest twaddle has been going on for over 2 weeks - repossess the damn thing and give myself and other lenders our money back! I often send money abroad - as my dealings are all legit I don't care if they are flagged or not - although I thought all transactions were flagged anyway.... Bank drafts on this update, cheques getting paid in on another loan update, it's like stepping back in time - next week's update will probably cite letters of credit.
|
|
adrian77
Member of DD Central
Posts: 3,920
Likes: 4,145
|
Post by adrian77 on Mar 21, 2018 9:03:45 GMT
Did FS ask why the hell not - wonder if this chap is in position to immediately receive funds - QED
I agree put this damn gem in an auction or sell to a London dealer TODAY - the longer FS delay the sillier they will appear...
|
|
|
|
Post by Deleted on Mar 21, 2018 9:07:58 GMT
I want to be there if the money ever gets to FS on this, the man handing over the money will have his "pants on fire" |
|
jo
Member of DD Central
dead
Posts: 741
Likes: 498
|
Post by jo on Mar 21, 2018 15:53:40 GMT
New update. Of course no money is coming.... This is the full set of excuses and lies by this borrower.
1 hour ago - We spoke with the borrower yesterday (19/3). Whilst in receipt of funds, he was not in a position to transfer immediately but would contact us Thursday (March 22).
14/03/2018 - Borrower called today. He has been advised that, to avoid the transfer being flagged, that the payment be delayed until Monday March 19 - one week after the bank draft has cleared. Whilst naturally frustrated by this further small delay, we feel it worth waiting these extra 3 days.
13/03/2018 - Borrower called this morning advising that the SWIFT transfer for interest is being arranged for tomorrow (Wednesday)
08/03/2018 - The bank draft is due to clear tomorrow and we expect funds on Monday
02/03/2018 - Borrower has collected the banker's draft which has now been deposited at the bank. We have a copy of the receipt from the bank (dated 28/2/18). The draft should take 3 days to clear and then funds need to be transferred across to the UK so we anticipate payment towards the end of next week.
26/02/2018 - We have been told that the bank draft is ready for collection. We have asked for a copy.
17/02/2018 - Borrower has advised that he will be in possession of a bankers draft by next week sufficient to pay interest to renew the loan. In the meantime we have met with a Hatton Garden dealer who will take the stone to the Hong Kong Diamond, Gem and Pearl Show which starts on the 27th of February.
22/01/2018 - Borrower has remained in contact although without results. They are awaiting funds which are waiting to be released from a trust. Our dealer has recommended a different show which will be at the end of February.
12/01/2018 - Borrower has remained in contact advising that they are close to securing funds. Our plans to sell the stone remain unchanged.
02/01/2018 - We have had contact with the borrower who has advised that he encountered further delays in being able to remit funds to the UK to pay interest but expects to be able to resolve the situation in the New Year. We will continue to press the borrower for payment but, failing that, we have arranged for the stone to be taken to be sold at the Tucson Gem Show in the US at the end of January 2018. We will keep the loan active up until the point that we consign the stone to the dealer.
18/12/2017 - Borrower has advised of further delays but now believes they will have funds by Wednesday of this week.
11/12/2017 - The borrower advised us on Friday that there has been a delay in receiving funds but that they should be with us this coming week. We are stepping up our efforts to sell the piece.
06/12/2017 - We have spoken with the borrower who has advised he expects to be in funds this week. We are preparing options for sale in the event that interest is not received.
20/11/2017 - We are currently chasing the borrower for interest.
06/11/2017 - Borrower has committed to pay by the middle of this month.
30/10/2017 - The 4-week extension is due tomorrow. We are following up with the borrower.
09/10/2017 - Borrower has requested a 4 week extension on this loan. As the borrower has a good track record of paying interest (albeit late) we have agreed to this request.
I have a single suggestion to FS. Stop the farse and sell the damn gem TODAY! Irrespective of the eventual outcome on this (and the many others), I'd be embarrassed at being associated with the posting of arrant nonsense - such as listed above - and thinking it's an acceptable way to treat customers. Have a serious word with yourselves fundingsecure
|
|
mariner
Member of DD Central
Posts: 168
Likes: 338
|
Post by mariner on Mar 21, 2018 16:33:27 GMT
Interesting to see what drivel they roll out tomorrow
They have completely lost the plot
|
|
