ablender
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Post by ablender on Jan 19, 2017 7:34:01 GMT
fundingsecure I think it is legitimate to expect a report today on yesterday's meeting. Did it even happen? What is the outcome?
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Steerpike
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Post by Steerpike on Jan 24, 2017 13:52:11 GMT
We appear to be on track
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n
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Yet another Nick
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Post by n on Jan 24, 2017 15:59:21 GMT
Appearances (among other things) can be deceiving. 
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peteuk
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Post by peteuk on Jan 27, 2017 20:10:45 GMT
Well the update where they threatened recievers, has come and passed. He has done it again , he must be svengali , he has hipnotised all the FS staff what's he going to do next week they are running out of room othe update page I suggest they frame the update page and use it in future staff training
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Post by eascogo on Jan 28, 2017 0:20:58 GMT
Well the update where they threatened recievers, has come and passed. He has done it again , he must be svengali , he has hipnotised all the FS staff what's he going to do next week they are running out of room othe update page I suggest they frame the update page and use it in future staff training . An update (3hrs ago) puts the likelihood of a happy outcome in the next few days -- full repayment and a possible new smaller loan being implemented.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Jan 28, 2017 9:56:24 GMT
I am sure we will all be rushing to invest in the new loan! Enough unenlightened round to fill though.
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ablender
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Post by ablender on Jan 28, 2017 11:13:09 GMT
fundingsecure"We have received questions from some investors about the fact that they are locked into a renewal i.e. cannot cancel their rollovers. In the event that we "renew" for a smaller amount, we will, in fact, post the "renewal" as a completely new loan and repay the old loan in full in order that all investors can access both interest and capital." (my bold) I consider this as a positive step.
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mikes1531
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Post by mikes1531 on Jan 28, 2017 13:48:32 GMT
fundingsecure "We have received questions from some investors about the fact that they are locked into a renewal i.e. cannot cancel their rollovers. In the event that we "renew" for a smaller amount, we will, in fact, post the "renewal" as a completely new loan and repay the old loan in full in order that all investors can access both interest and capital." (my bold) I consider this as a positive step. All we need to worry about then would if if things don't go exactly as expected and the replacement loan turns out to be the same size as the current loan. We'd have to hope that in that case fundingsecure still would treat the replacement loan as a new loan and allow those investors in the old loan who don't wish to participate in the new loan to have their money returned to them rather than being rolled forward. Based on my past experience with FS, I do expect they would do that. I suspect that the wording of their update wasn't chosen with the possibility of a same-size renewal being considered.
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ablender
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Post by ablender on Jan 31, 2017 7:22:37 GMT
fundingsecureDid you receive the terms that you were expecting by "tonight [27/1/17] (latest Monday [30/1/17]" ? Can you please tell us if we are still on track?
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Post by scrooge on Feb 1, 2017 8:19:09 GMT
Can I be the only investor who is getting increasingly tired of FS accepting without question this borrower's promises that funds to repay this loan will be available "imminently", reminding me of Billy Bunter promising that there is a postal order due from his aunt? I have asked FS to take stronger action by making demand and appointing an LPA Receiver, but suspect that they will instead allow the borrower to continue to prevaricate. Can I suggest other lenders put pressure on FS to focus less on taking on yet more new borrowers and focus more on achieving repayment of the growing number of delinquent loans on the platform?
I have lost faith in FS and am exiting the platform over the coming months.........
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jw01
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Post by jw01 on Feb 1, 2017 8:49:59 GMT
I'm afraid I cannot allow scrooge's comment to stand.
He is confusing Billy Bunter with Bertie Wooster.
Wooster had a battery of aunts (almost literally).
Bunter did not have any aunts, but his father was a stockbroker and therefore (in those days) poor, so the postal order never arrived.
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09dolphin
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Post by 09dolphin on Feb 1, 2017 13:56:23 GMT
Whilst I don't have an interest in this loan it seems that some sort of statement would be appreciated. (Sorry roguetrader is you see this as a negative comment).
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Feb 1, 2017 17:51:13 GMT
See my Two Comments under "Overdue Loans" ................................
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peteuk
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Post by peteuk on Feb 6, 2017 17:09:00 GMT
Can I be the only investor who is getting increasingly tired of FS accepting without question this borrower's promises that funds to repay this loan will be available "imminently", reminding me of Billy Bunter promising that there is a postal order due from his aunt? I have asked FS to take stronger action by making demand and appointing an LPA Receiver, but suspect that they will instead allow the borrower to continue to prevaricate. Can I suggest other lenders put pressure on FS to focus less on taking on yet more new borrowers and focus more on achieving repayment of the growing number of delinquent loans on the platform? I have lost faith in FS and am exiting the platform over the coming months......... I myself have contacted FS on many occasions please see overdue loans. You are not alone
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ablender
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Post by ablender on Feb 6, 2017 17:57:06 GMT
Can I be the only investor who is getting increasingly tired of FS accepting without question this borrower's promises that funds to repay this loan will be available "imminently", reminding me of Billy Bunter promising that there is a postal order due from his aunt? I have asked FS to take stronger action by making demand and appointing an LPA Receiver, but suspect that they will instead allow the borrower to continue to prevaricate. Can I suggest other lenders put pressure on FS to focus less on taking on yet more new borrowers and focus more on achieving repayment of the growing number of delinquent loans on the platform? I have lost faith in FS and am exiting the platform over the coming months......... NO (with capital letters) I had a Chat with them on 3/2/17, i.e. before the latest update, as below. Transcript: [2017-02-03 16:48:01] [AB] RE Land in Rishton [2017-02-03 16:48:53] [AB] Hi L., I wanted to check how we, lenders are supposed to interpret your promises. [2017-02-03 16:50:13] [AB] We are expecting terms tonight [27/1/17] (latest Monday) [2017-02-03 16:50:24] What has happened?
[2017-02-03 16:52:20] [L] Hi A., there will be an update posted on this later today that will clarify
[2017-02-03 16:53:01] [AB] Yes, the usual weekly update that we have learnt we cannot rely on.
[2017-02-03 16:54:07] [L] I am sorry you feel that way A. We try to update the investors the best we can when we get information, however circumstances arise and things change.
[2017-02-03 16:54:32] [L] Hopefully you will be satisfies with the updates posted later.
[2017-02-03 16:55:16] [AB] Did you get information that you were expecting and when? Why do we have to wait for a week to get an update? This is becoming urgent.
[2017-02-03 16:55:43] [AB] I hope that the next updates will result in something that is both positive and concrete.
[2017-02-03 16:58:20] [L] I am not sure, I myself don't get the information. Unless we receive important information we post it on the loan immediately otherwise we do weekly updates.
[2017-02-03 16:58:48] [AB] Who is the person in charge of this loan?
[2017-02-03 17:00:13] [L] I am very sorry but we cannot disclose that information
[2017-02-03 17:01:02] [AB] Isn't this person part of Funding Secure? Then why not?
[2017-02-03 17:01:52] [L] Sorry I read that last one wrong, I thought you were asking for the borrower. It is R. here at FUndingSecure
[2017-02-03 17:02:37] [AB] Is it possible to get in touch directly with R.?
[2017-02-03 17:03:28] [L] Yes, you can call the company and speak to him directly. I
[2017-02-03 17:03:58] [AB] Whenever I tried to call, I was always told that he is unavailable. When is the best time to call?
[2017-02-03 17:05:03] [L] Yes, he is out of the office and in meetings a lot of the time. There is no specific best time. I would suggest in the morning 9:30ish
[2017-02-03 17:05:40] [AB] OK, I will try that. I will wait to see today's update first. Cheers.
[2017-02-03 17:06:19] [L] Okay thanks A.
[2017-02-03 17:06:26] [L] Have a great weekend
[2017-02-03 17:06:34] [AB] same. Bye
Is anyone available mornings about 9:30. It is not a good time for me. PM me for the name if you do not already know it.
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