blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Feb 7, 2018 17:49:01 GMT
p2pindependentforum.com/post/244228/thread
James21 said yesterday that FS would not post on this board because they considered it a hostile board. This is an interesting thought, and possibly this does lenders no favours. I have to admit to, perhaps, making the odd critical comment.
Appropriately enough, the opportunity of 'lent' is coming up and personally I think I will unilaterally give up commenting adversely, or at all, on this sub-board, until at least April. If others would care to join, it might provide a space in which hostility might cease in favour of engagement - a situation which might then continue. Or not?
Worth a try?
|
|
bugs4me
Member of DD Central
Posts: 1,845
Likes: 1,478
|
Post by bugs4me on Feb 7, 2018 22:53:49 GMT
I don't recall FS ever being particularly active on this forum apart from their own sub section to announce new loans.
Whilst a great deal of criticism may be slightly exaggerated, the simple fact remains that the FS business has been built with lender's funds based upon loan opportunities presented by the platform. Whatever the T's&C's may state, I do believe that a responsibility exists towards lenders which would appear to be often absent.
When a loan completes satisfactorily, then in essence all that's being delivered by the platform is what was originally intended. Lenders are happy with their 12% or so return and so are FS with their *%. So transaction completed as originally agreed.
Where it all seems to go wrong is when there is an apparent lack of action by the platform to safeguard those lender funds. Updates are provided and rightly so. But after a while they become farcical to such an extent I believe lenders can be forgiven for believing that FS have basically lost interest and moved on to their next loan 'opportunity'. If the loan eventually completes then it's more down to luck than any professional action by the platform. So understandably there's an inclination to let off some hot air from time to time.
All the above are my personal ramblings but as a victim of a 70% wipe out from the turbine loan and how it was managed many may agree with my thoughts. I fully expect losses in the P2P marketplace, that is the nature of the animal. It's how those losses are arrived at which is debatable. Currently there is a Welsh gradeII listed hotel, depreciating by the minute I would suggest. Please go on-line and view the updates to this.
|
|
aj
Member of DD Central
Posts: 348 
Likes: 465
|
Lent
Feb 8, 2018 7:40:44 GMT
Post by aj on Feb 8, 2018 7:40:44 GMT
p2pindependentforum.com/post/244228/thread
James21 said yesterday that FS would not post on this board because they considered it a hostile board. This is an interesting thought, and possibly this does lenders no favours. I have to admit to, perhaps, making the odd critical comment.
Appropriately enough, the opportunity of 'lent' is coming up and personally I think I will unilaterally give up commenting adversely, or at all, on this sub-board, until at least April. If others would care to join, it might provide a space in which hostility might cease in favour of engagement - a situation which might then continue. Or not?
Worth a try? I'm in. I do enjoy a good grumble about the quality and management of loans, but will endeavour to stick to a positive mindset. I don't think it will make FS any more inclined to engage though!
|
|
|
|
Post by beepbeepimajeep on Feb 8, 2018 12:16:55 GMT
James21 said yesterday that FS would not post on this board because they considered it a hostile board.
They consider it hostile because posters have uncovered the scary truth about some of their loans? It does not reflect well on funding secure sure, but just because it is the truth does not mean it is "hostile". Lenders have the right to expect certain things from p2p lending platforms. It is not hostile to point out factually where things are going badly wrong, or to ask for answers. I think this board is quite balanced when it comes to views on funding secure. I am sure they would rather the naughty loans are swept under the carpet and never talked about but I am glad this place does not allow that to happen.
|
|
jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,808
Likes: 3,242
|
Post by jonno on Feb 8, 2018 12:28:33 GMT
I know; let's all be positive rather than negative all the time. As in "I'm absolutely positive that around 80% of the FS loan book is a pile of poo"  |
|
keith
Member of DD Central
Posts: 118
Likes: 72
|
Lent
Feb 8, 2018 12:56:28 GMT
ozboy likes this
Post by keith on Feb 8, 2018 12:56:28 GMT
Maybe we could have a new celebration called..........”Returned” which in most calendars (although not necessarily FS) follows Lent
|
|
IFISAcava
Member of DD Central
Posts: 3,692
Likes: 3,018
|
Lent
Feb 8, 2018 12:59:26 GMT
Post by IFISAcava on Feb 8, 2018 12:59:26 GMT
James21 said yesterday that FS would not post on this board because they considered it a hostile board.
They consider it hostile because posters have uncovered the scary truth about some of their loans? It does not reflect well on funding secure sure, but just because it is the truth does not mean it is "hostile". Lenders have the right to expect certain things from p2p lending platforms. It is not hostile to point out factually where things are going badly wrong, or to ask for answers. I don't think this board is hostile at all and is quite balanced when it comes to views on funding secure. I am sure they would rather the naughty loans are swept under the carpet and never talked about but I am glad this place does not allow that to happen. Not my perception. I don't think that it is a balanced view to say that 80% of their loans are *insert perjorative word of your choice*; is this backed up by a calm rational analysis of the loan book/past performance?
|
|
|
|
Post by fundingsecure on Feb 8, 2018 21:24:49 GMT
Just to clear up one point. We do not avoid posting on this board because it is hostile. Although I believe it is true to say that forums of all kinds, by their very nature, attract more complaints than praise - that is the nature of the beast and no reason for avoiding them. We try to monitor all of the forums (not just this sub-board) and take note of all criticism / suggestions - many of which have been very helpful.
Generally, we limit posting on this board as do not want to disadvantage investors who do not use the forum. If a question is raised indicating that loan details need clarification we will try to add additional information to the loan, rather than on the forum.
FundingSecure
|
|
r00lish67
Member of DD Central
Posts: 2,692
Likes: 4,048
|
Post by r00lish67 on Feb 8, 2018 21:41:34 GMT
Just to clear up one point. We do not avoid posting on this board because it is hostile. Although I believe it is true to say that forums of all kinds, by their very nature, attract more complaints than praise - that is the nature of the beast and no reason for avoiding them. We try to monitor all of the forums (not just this sub-board) and take note of all criticism / suggestions - many of which have been very helpful. Generally, we limit posting on this board as do not want to disadvantage investors who do not use the forum. If a question is raised indicating that loan details need clarification we will try to add additional information to the loan, rather than on the forum. FundingSecure I like it, fundingsecure . And, to be fair, not many platforms can fill a brand new £112k loan in seconds as you did today.  Edit: ok, yes, I'm drinking wine. Back to relentless cynicism tomorrow!
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Lent
Feb 8, 2018 21:56:34 GMT
Liz likes this
Post by stevio on Feb 8, 2018 21:56:34 GMT
p2pindependentforum.com/post/244228/thread
James21 said yesterday that FS would not post on this board because they considered it a hostile board. This is an interesting thought, and possibly this does lenders no favours. I have to admit to, perhaps, making the odd critical comment.
Appropriately enough, the opportunity of 'lent' is coming up and personally I think I will unilaterally give up commenting adversely, or at all, on this sub-board, until at least April. If others would care to join, it might provide a space in which hostility might cease in favour of engagement - a situation which might then continue. Or not?
Worth a try? Nice idea, but already the serial moaners have said not going too It does deter platform reps and we all should consider the usefulness of this forum without them, we would effectively be talking amongst ourselves with no action to our conclusions For feedback should be given in such a way that you would be happy to receive it youself
|
|
Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Feb 8, 2018 21:57:21 GMT
Just to clear up one point. We do not avoid posting on this board because it is hostile. Although I believe it is true to say that forums of all kinds, by their very nature, attract more complaints than praise - that is the nature of the beast and no reason for avoiding them. We try to monitor all of the forums (not just this sub-board) and take note of all criticism / suggestions - many of which have been very helpful. Generally, we limit posting on this board as do not want to disadvantage investors who do not use the forum. If a question is raised indicating that loan details need clarification we will try to add additional information to the loan, rather than on the forum. FundingSecure I like it, fundingsecure . And, to be fair, not many platforms can fill a brand new £112k loan in seconds as you did today. Edit: ok, yes, I'm drinking wine. Back to relentless cynicism tomorrow! Ah, testing the new Unbolted loan, right. 😁
|
|
7d7
Member of DD Central
Posts: 134
Likes: 205
|
Lent
Feb 9, 2018 9:22:14 GMT
Post by 7d7 on Feb 9, 2018 9:22:14 GMT
Just to clear up one point. We do not avoid posting on this board because it is hostile. Although I believe it is true to say that forums of all kinds, by their very nature, attract more complaints than praise - that is the nature of the beast and no reason for avoiding them. We try to monitor all of the forums (not just this sub-board) and take note of all criticism / suggestions - many of which have been very helpful. Generally, we limit posting on this board as do not want to disadvantage investors who do not use the forum. If a question is raised indicating that loan details need clarification we will try to add additional information to the loan, rather than on the forum. FundingSecure You try to take note of all criticism/suggestions? If a question is raised indicating that loan details need clarification, you will try to add additional information to the loan? FS, you would need to try harder as action is rarely seen to be taken. For instance, the 70% wipe out from the Turbine loan mentioned by bugs4me has been completely neglected. You promised a follow up report and a chase for further funds last October but have not delivered. There's a thread on this loan where lenders have made requests for updates which have been totally ignored. There are other loans heading the same direction.
|
|
poppyland
Member of DD Central
Posts: 237
Likes: 243
|
Post by poppyland on Feb 9, 2018 9:27:22 GMT
p2pindependentforum.com/post/244228/thread
James21 said yesterday that FS would not post on this board because they considered it a hostile board. This is an interesting thought, and possibly this does lenders no favours. I have to admit to, perhaps, making the odd critical comment.
Appropriately enough, the opportunity of 'lent' is coming up and personally I think I will unilaterally give up commenting adversely, or at all, on this sub-board, until at least April. If others would care to join, it might provide a space in which hostility might cease in favour of engagement - a situation which might then continue. Or not?
Worth a try? I was thinking about this post all day yesterday. Here's the result: 1. Negative comments can have positive results if they alert a platform to the fact that lenders are getting p*****d off, and if they help new investors to be careful (and hence protect them from diving into ill-advised lending, and losing money). 2. Negative comments can potentially harm a perfectly viable business if they impact on investor confidence. However a truly strong business should be able to withstand a bit of a slagging off from time to time. 3. Lent is a good time to reflect on the negative. It begins with Ash Wednesday and a big black spot on your head and the words "Remember man that thou art dust and until dust thou shall return". It ends with a commemoration of the brutal killing of a man who had spread love, hope and healing, and done nothing wrong, ever, and with the horrifying realisation that without his death, and invitation to join him "in my Father's kingdom" we are all for the chop. 4. Positive or negative are less important than seeking the truth - in P2P and in life. If a platform is no longer as good as it once was, it should be fair enough to point that out. Not all things can be redeemed by staying positive. Unwarranted optimism, whether it's believing that all investor capital will be returned, or that life in this world has an automatic happy ending as long as you're a "good" person and not as wicked as Hitler seems to me a sure way to get a nasty surprise. A bit of "fear and trembling" can be a very salutary thing and lead to a more solidly invested portfolio and a more solidly founded optimism about the world to come.
|
|
