rogerthat
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Post by rogerthat on Oct 8, 2020 14:03:19 GMT
I enclose the reply I received this morning ..complete waste of time and effort Thank you for your e-mail. I completely appreciate your frustration in the lack of transparency and how this loan property has performed. Our priority during this period is to protect your returns by supporting businesses as best we can. As part of this we have significantly increased resources to our Collections and Recoveries team who are working closely with affected businesses. Helping businesses get through short-term difficulties makes them more likely to maintain their monthly repayments in the long-term. This is the best approach to minimise credit losses and protect your returns. While we understand some investors appreciate regular updates on the individual businesses they lend to, during this period it’s more important to ensure we are doing everything we can to work with affected businesses and protect investor returns. This means that we will not always be able to provide regular updates through your loan comments, even though in many cases we will be working closely with the business to support them. Although we are unable to provide further context at this current moment, I have asked the Case Manager on the Collections and Recoveries to provide an update as soon as possible. Kind regards, Not Bert You should remove Bert's name. You should now have the option to reply directly to the response and press for a proper answer. I already have
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Post by Badly Drawn Stickman on Oct 8, 2020 14:25:20 GMT
You should remove Bert's name. You should now have the option to reply directly to the response and press for a proper answer. I already have Which bit? If you had already changed Bert's name to tom, then I have with good intentions but ill advisedly changed it back again. If replied to the email, Good Man, keep it up.
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rogerthat
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Post by rogerthat on Oct 8, 2020 20:04:26 GMT
I already have Which bit? If you had already changed Bert's name to tom, then I have with good intentions but ill advisedly changed it back again. If replied to the email, Good Man, keep it up. Both..changed the name and sent:- "..the company circular response you have sent, does not answer or in any way address the content of my mail or my concern. Please respond again with some answers please rather than what Funding Circle may aspire to in principle but in reality, have fallen way short of. If you cant give me some answers, please find someone who can"..
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Post by Badly Drawn Stickman on Oct 8, 2020 20:31:24 GMT
Which bit? If you had already changed Bert's name to tom, then I have with good intentions but ill advisedly changed it back again. If replied to the email, Good Man, keep it up. Both..changed the name and sent:- "..the company circular response you have sent, does not answer or in any way address the content of my mail or my concern. Please respond again with some answers please rather than what Funding Circle may aspire to in principle but in reality, have fallen way short of. If you cant give me some answers, please find someone who can".. We probably need to agree on a 'code name' for some reason Sylvia's Mother strikes me as appropriate. Will see what response you get and find the weak spot, then I will pile in with you. Clearly something has happened with this loan that should not have.
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keitha
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2024, hopefully the year I get out of P2P
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Post by keitha on Oct 9, 2020 12:49:59 GMT
I enclose the reply I received this morning ..complete waste of time and effort Thank you for your e-mail. I completely appreciate your frustration in the lack of transparency and how this loan property has performed. Our priority during this period is to protect your returns by supporting businesses as best we can. As part of this we have significantly increased resources to our Collections and Recoveries team who are working closely with affected businesses. Helping businesses get through short-term difficulties makes them more likely to maintain their monthly repayments in the long-term. This is the best approach to minimise credit losses and protect your returns. While we understand some investors appreciate regular updates on the individual businesses they lend to, during this period it’s more important to ensure we are doing everything we can to work with affected businesses and protect investor returns. This means that we will not always be able to provide regular updates through your loan comments, even though in many cases we will be working closely with the business to support them. Although we are unable to provide further context at this current moment, I have asked the Case Manager on the Collections and Recoveries to provide an update as soon as possible. Kind regards, Not Bert..pfft Funny that almost exactly the same email I got when I enquired about a loan where we were promised an update in late January / February, and I get no response to my replies.
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rogerthat
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Post by rogerthat on Oct 9, 2020 14:16:04 GMT
Both..changed the name and sent:- "..the company circular response you have sent, does not answer or in any way address the content of my mail or my concern. Please respond again with some answers please rather than what Funding Circle may aspire to in principle but in reality, have fallen way short of. If you cant give me some answers, please find someone who can".. We probably need to agree on a 'code name' for some reason Sylvia's Mother strikes me as appropriate. Will see what response you get and find the weak spot, then I will pile in with you. Clearly something has happened with this loan that should not have. "Thank you for your reply. As explained in the previous e-mail we are unable to provide any further context at this moment or specifically answer your questions, for the reasons which have already been explained. I have asked the Case Manager on the Collections and Recoveries to provide an update as soon as possible, if possible. However, in the meantime if you remain dissatisfied, please let me know and I can raise this as a complaint and pass onto our Complaints Department"
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Post by Badly Drawn Stickman on Oct 18, 2020 9:52:24 GMT
I got the following email on Friday. Dear Guy who worked the system, Thank you for getting in contact with us. We're sad to see you go, however I can confirm your Funding Circle account has now been closed. Best regards, Bert Unfortunately not my main account but one of a curiously large number I created to test a theory. (I close one now and again to cheer myself up - a few more have a legacy loan that pays regularly) Anyway back to the main thrust, experience suggests just 'letting it go' and moving on (My overall returns on FC look awesome given the disasters elsewhere). However given they still actually exist and presumably have a breaking point (I have in the past managed to bend them to my will on a small amount of money) If there is enough of us interested we could pester the life out of them and see what happens. Just need to pool resources on writing emails and sending them off really. I suppose the odd fact might help. I suggest anybody interested could PM rogerthat he strikes me as the leadership type.
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scooter
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Post by scooter on Oct 18, 2020 11:24:42 GMT
lisa.j****s@fundingcircle.com
... works quite well. She doesn't reply but all my outstanding loans defaults have had comments added to them this week after I started copying her on my emails.
There is something wrong when investors are not entitled to know what steps are / have been taken. The T&Cs state something about FC being liable for negligence in some circumstances, but the only way you could ever find out about that negligence is through the FO...
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rogerthat
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Post by rogerthat on Dec 15, 2020 13:09:55 GMT
The London loan has understandably attracted a lot of justifiable criticism of the way it was mishandled by Funding Circle and rightly so. I wonder why then that the Liverpool hotel loan doesn't appear to have received an equal amount of investor dissatisfaction. As it stands, the Liverpool loan lost around £2m of investors hard earned with, as far as I'm aware no semblance of explanation from FC or indeed any financial summary to back that up or even attempt to explain the outcome.
Are they not bound by any legal process to provide investors with even the most basic summary ?
One particular mystery to me on this Liverpool loan was that the majority of apartments and 1 (of 2) ground floor retail units had already been sold/leased prior to the auction. [ Is it my imagination that this was stated on the auctioneers notice ? and does anyone have that 'link' ..im sure I saw it somewhere..]
My point being, if that was the case, then why didn't investors receive those funds prior to the auction ?
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