michaelc
Member of DD Central
Say No To T.D.S.
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Post by michaelc on Jul 10, 2018 17:32:21 GMT
At the time of writing there are 16 loans waiting to be filled. Is that a record?
Edit: And at the same time I see from the FS newsletter they are going back to focusing on the borrowers again.
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aligibbs
Member of DD Central
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Post by aligibbs on Jul 10, 2018 18:10:27 GMT
How/where can I sign up to the newsletter? I don't seem to be getting it...
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rogerthat
Member of DD Central
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Post by rogerthat on Jul 10, 2018 18:22:20 GMT
How/where can I sign up to the newsletter? I don't seem to be getting it... Agony aunt here again...go into your Main Account (if you also have an ISA account)..top of page..click My Account > click My email preferences..ensure all 3 boxes are checked..logout and log in again and hang on a month till the next newsletter (if there is one)
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aligibbs
Member of DD Central
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Post by aligibbs on Jul 10, 2018 19:13:56 GMT
How/where can I sign up to the newsletter? I don't seem to be getting it... Agony aunt here again...go into your Main Account (if you also have an ISA account)..top of page..click My Account > click My email preferences..ensure all 3 boxes are checked..logout and log in again and hang on a month till the next newsletter (if there is one) All 3 are ticked- which is where I looked before. Oh well.
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rogerthat
Member of DD Central
Posts: 2,048
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Post by rogerthat on Jul 10, 2018 20:15:17 GMT
Agony aunt here again...go into your Main Account (if you also have an ISA account)..top of page..click My Account > click My email preferences..ensure all 3 boxes are checked..logout and log in again and hang on a month till the next newsletter (if there is one) All 3 are ticked- which is where I looked before. Oh well. Have you got the correct email address entered in your contact details ?...have you tried live chat and see if they have the correct details for you ?
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lobster
Member of DD Central
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Post by lobster on Jul 11, 2018 6:15:39 GMT
Agony aunt here again...go into your Main Account (if you also have an ISA account)..top of page..click My Account > click My email preferences..ensure all 3 boxes are checked..logout and log in again and hang on a month till the next newsletter (if there is one) All 3 are ticked- which is where I looked before. Oh well. Try asking Livechat for a test email. I assume you've checked your spam / trash folders ?
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kielbasa
Member of DD Central
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Post by kielbasa on Jul 11, 2018 8:27:56 GMT
Across the 16 loans there is about £2.15 million waiting to be filled.
Some of the loans were launched quite a while ago.
Is this a temporary blip or is the tide turning?
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Monetus
Member of DD Central
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Post by Monetus on Jul 11, 2018 8:35:21 GMT
It's the tide turning due to exceptionally poor management of the loan book, appalling communications and the vastly increasing number of late loans/defaults.
With £44.2 million of the loan book now overdue/defaulted people won't pour in money forever without getting any back.
This, coupled with the general malaise surrounding P2P at the moment (largely in part to the Collateral situation) has caused the penny to finally drop.
We'd already seen it on several other platforms, it just look a little while longer on FS to manifest itself.
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rogerthat
Member of DD Central
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Post by rogerthat on Jul 11, 2018 8:38:52 GMT
Across the 16 loans there is about £2.15 million waiting to be filled. Some of the loans were launched quite a while ago. Is this a temporary blip or is the tide turning? Think hole...black, sink or plug  ...don't tempt me on a 4th option 
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spyrogyra
Member of DD Central
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Post by spyrogyra on Jul 12, 2018 7:31:12 GMT
5. Freefall.
Anyone not seeing it is blind and naive.
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james21
Member of DD Central
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Post by james21 on Jul 12, 2018 7:45:03 GMT
It's the tide turning due to exceptionally poor management of the loan book, appalling communications and the vastly increasing number of late loans/defaults. With £44.2 million of the loan book now overdue/defaulted people won't pour in money forever without getting any back. This, coupled with the general malaise surrounding P2P at the moment (largely in part to the Collateral situation) has caused the penny to finally drop. We'd already seen it on several other platforms, it just look a little while longer on FS to manifest itself. Your first para sums it up admirably. FS had a stella rise last couple of years, the situation has changed, the woeful management of the loan book and level of defaults and defaults in waiting is very concerning and investors and potential investors are wising up, especially if they look at this discussion board as guests or members. The company needs to employ a good general manager who can get a grip and turn the company round
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mjc
Member of DD Central
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Post by mjc on Jul 12, 2018 9:19:45 GMT
This is clearly not one or two disgruntled investors making bad calls, but general despair at lack of action on late or non payers. We all expect some defaults, but there is a dearth of reliable information of how these defaults affect the actual return.
I am not content to probably get less real return with major (largely unstated) risks from a platform offering 13% than one offering 5-7% with very low defaults. FS can give p2p an undeserved bad name.
I think Fundingsecure reviews (ie Trustpilot) need to highlight the real discontent with the abysmal recoveries once a loan is late.
If it’s over 30 days it probably a lost cause!
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09dolphin
Member of DD Central
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Post by 09dolphin on Jul 12, 2018 11:44:19 GMT
In my early investing days with FS loans that were much over 1, 2 or 3 months late were sold in auction and most were sold at or near the valuation. I was a happy chappy.
About 4 months ago when I contacted FS to basically complain about their inaction relating to the very late repayment of a loan without any update the manager of that specific loan they said that, as I was still investing, I couldn't be very unhappy with FS. Needless to say almost all the loans I could sell were listed later that day and have since sold. Now I only have loans that are likely to result in a loss as they are defaulted or still classed as active ie the powerboat but cannot be sold + my investments in the Italian library.
What really annoys me is the contempt FS now show and rather obviously have for investors.
As someone with considerable experience in business I would not dream of treating investors as FS do. Perhaps it's a part of their business strategy but if so I really don't understand it as it has obvious negative effects.
I suggest that FS take lessons in how to manage overdue loans from some of the other P2P sites.
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Post by brightspark on Jul 12, 2018 12:03:41 GMT
I am not sure that is such a good idea. I can think of other p to p sites that are just as dysfunctional. In many ways the malaise permeates the financial services sector.
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09dolphin
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Post by 09dolphin on Jul 12, 2018 12:14:43 GMT
I am not sure that is such a good idea. I can think of other p to p sites that are just as dysfunctional. In many ways the malaise permeates the financial services sector. I don't know of any other P2P site which allows borrowers to run rings round them to the extent that FS does.
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...don't tempt me on a 4th option 
