oldgrumpy
Member of DD Central
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Post by oldgrumpy on Dec 5, 2013 19:33:23 GMT
"Rejected and will be relisted, as rate was too high", even though the auction had not finished yet, and the final minute frenzy was way off in the distance.If I had seen that one I would have sent FC a very strong mailing demanding to know why they were allowing relisting for that reason when the auction hadn't ended in the first place, and made sure plenty of publicity was supplied in the absence of an acceptable reply. I do hope nice Becky is telling her clever colleagues all this. Maybe these "excuses" should be mentioned on the "official" FC forum. I wonder how long it would be before moderation reared its selective head there. No wonder they jumped at the chance to take over and close the other thread, which could criticize their efficiency. 
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Dec 5, 2013 20:18:22 GMT
"Rejected and will be relisted, as rate was too high", even though the auction had not finished yet, and the final minute frenzy was way off in the distance.If I had seen that one I would have sent FC a very strong mailing demanding to know why they were allowing relisting for that reason when the auction hadn't ended in the first place, and made sure plenty of publicity was supplied in the absence of an acceptable reply. I do hope nice Becky is telling her clever colleagues all this. Maybe these "excuses" should be mentioned on the "official" FC forum. I wonder how long it would be before moderation reared its selective head there. No wonder they jumped at the chance to take over and close the other thread, which could criticize their efficiency. If you pick even the slightest hole in FC and its management on the "official Forum" you will either have your post dropped or moderated out of existence. So don't waste you time. I have been musing recently over who the person was in FC who thought up the wheeze of buying out the old "indie"! Talk about egg on the face when this Forum popped up within a few days. Assuming the person was not a director I guess he has already been invited to walk the plank and take his black bin bag with him/her. Come on Becky tell us what really happened and if that person happens to read this how about a few juicy tales from inside FC to get your own back?
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Post by bracknellboy on Dec 5, 2013 21:07:34 GMT
are u by any chance a glass is half empty person ? I think there is a touch of every cloud..../there but for the grace of .... sitting in here  : “The auction was rejected as the borrower was unable to send in a signed Personal Guarantee within the deadline. Thanks F”And you want to give your money to someone who can't sign a bit of paper in time ? Rather reminds me of the loan where the founding directors had a 'diary intolerance'. “Auction rejected as the Directors will not commit to a Guarantee.” (even though it was a loan listed WITH a DG)Well if they don't believe in their business, why would you want to ? "directors are currently leaving the business and will not sign a guarantee"close shave I'd say. So who's running the business, why are they quitting, and what kind of state is it in that the directors agree to seeking a loan and then upsticks before its even taken out. “Could not contact the borrower in time to accept the loan. Funds have been released back to investors.”Even closer shave: If they can't be got hold of to shove money in their pockets, just think how hard its going to be to get hold of 'em when we need to get it back again "Rejected and will be relisted, as rate was too high", even though the auction had not finished yet, and the final minute frenzy was way off in the distance.Don't understand what the concept of a scheduled deadline means ? Pity their customers, pity anyone lending them money. 
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Dec 5, 2013 23:39:58 GMT
“Auction rejected as the Directors will not commit to a Guarantee.” (even though it was a loan listed WITH a DG)
Is this for real?
So, FC why did you list it in the first place? Incompetence on your part for not insisting on the guarantee BEFORE the loan request was listed, committing other people's money? I'd love to see your response to that one!!! No wonder you wanted to shut up the independent forum.
FC losing credibility rapidly, methinks.
if these reports are untrue, come on here and say so.
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mikeb
Posts: 1,072
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Post by mikeb on Dec 6, 2013 18:06:21 GMT
are u by any chance a glass is half empty person ? I think there is a touch of every cloud..../there but for the grace of .... sitting in here : “The auction was rejected as the borrower was unable to send in a signed Personal Guarantee within the deadline. Thanks F”And you want to give your money to someone who can't sign a bit of paper in time ? Glass half empty? No. I was looking because it seems there is an awful lot of noise about how many wonderful opportunities are being listed, yet there seems to be a high proportion that are turning out not to be so wonderful (revealed AFTER the auction closes) and not going to completion for slightly half-a$$ed reasons. That's all. No, I don't want to give money to people who [ ... insert as appropriate ... ] -- you seem to have missed the point that things things came to light AFTER the auction had been listed, bid on, and finished. "Oh by the way, directors have turned out to be not bothered, thanks FC." would be useful to know BEFORE the auction ran, so it could be spiked there and then. Of course I'm glad that my money didn't get lent to [ ... insert allegation here ...].
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mikeb
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Post by mikeb on Dec 6, 2013 18:16:54 GMT
“Auction rejected as the Directors will not commit to a Guarantee.” (even though it was a loan listed WITH a DG)
Is this for real?
So, FC why did you list it in the first place? Incompetence on your part for not insisting on the guarantee BEFORE the loan request was listed, committing other people's money? I'd love to see your response to that one!!! No wonder you wanted to shut up the independent forum.
FC losing credibility rapidly, methinks.
if these reports are untrue, come on here and say so.
If you doubt the veracity of the quote above, check your PM, assuming you are allowed to follow the link -- there is a problem with looking up loans that you don't have a direct interest in and/or are not on sale. It does appear, in at least one case, that the DG is more of an afterthought than a pre-requirement. However, that fits in with the regular historic "What, we need to set up a driect debit? Oh!" responses, which seem to have quietened down now. Mainly because there was no DD paperwork included with the loan application up front (as I understand it).
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Dec 6, 2013 18:52:06 GMT
mikeb
Is this for real?
If you doubt the veracity of the quote above...
My question wasn't disbelief.. just rhetorical. Thanks for PM and link (doesn't work for me). I'll check whether I had bid on that one.
edit: No I didn't.
"Rejected and will be relisted, as rate was too high", even though the auction had not finished yet, and the final minute frenzy was way off in the distance.
I sure hope I didn't rebid (or bid) on that one!!
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Post by bracknellboy on Dec 7, 2013 8:20:32 GMT
are u by any chance a glass is half empty person ? I think there is a touch of every cloud..../there but for the grace of .... sitting in here : “The auction was rejected as the borrower was unable to send in a signed Personal Guarantee within the deadline. Thanks F”And you want to give your money to someone who can't sign a bit of paper in time ? Glass half empty? No. ..... -- you seem to have missed the point that things things came to light AFTER the auction had been listed.... Of course I'm glad that my money didn't get lent to [ ... insert allegation here ...]. Mikeb: I hadn't missed the point, was just attempting to put some humour into it all: i.e. if the borrower has turned out to be this bad, thank god the loan didn't somehow get dragged over the finish line.
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mikeb
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Post by mikeb on Dec 7, 2013 20:27:32 GMT
bracknellboy: Oh, that's okay then -- I agree, it's good it didn't get to the stage of lent out. Obviously we have to laugh, because the alternative is to bang your head on the desk to the rhythm of W T F in Morse code. oldgrumpy: Link would have worked if you'd had a bid on it at some point, just a "feature" of the system. Edit: "This loan needs to be re listed as it was not linked correctly to an associated loan on the platform. It will be re listed shortly. Thanks, FC."Twice ... ! There's been quite a few of those over time, where FC haven't noticed that the company already has an outstanding loan with FC, and so have accidentally mislead lenders into over-exposing themselves to one company. "The borrower has decided not to accept the loan. They have informed FC that they are uncomfortable with the idea of borrowing / owing money to lots of different individuals. Thanks, FC."Now, please tell me that FC are just making these excuses up to entertain lenders. That can't be genuine. What did you think was going to happen when you applied to a p2p loan site?
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min
Member of DD Central
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Post by min on Dec 12, 2013 10:47:10 GMT
bracknellboy: Oh, that's okay then -- I agree, it's good it didn't get to the stage of lent out. Obviously we have to laugh, because the alternative is to bang your head on the desk to the rhythm of W T F in Morse code. oldgrumpy: Link would have worked if you'd had a bid on it at some point, just a "feature" of the system. Edit: "This loan needs to be re listed as it was not linked correctly to an associated loan on the platform. It will be re listed shortly. Thanks, FC."Twice ... ! There's been quite a few of those over time, where FC haven't noticed that the company already has an outstanding loan with FC, and so have accidentally mislead lenders into over-exposing themselves to one company. "The borrower has decided not to accept the loan. They have informed FC that they are uncomfortable with the idea of borrowing / owing money to lots of different individuals. Thanks, FC."Now, please tell me that FC are just making these excuses up to entertain lenders. That can't be genuine. What did you think was going to happen when you applied to a p2p loan site? Add to that: "The director has raised funds through personal assets. The funds will be released back to investors." So presumably the FC loan bid was just a fishing expedition.
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oldgrumpy
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Post by oldgrumpy on Dec 12, 2013 13:02:31 GMT
"The director has raised funds through personal assets. The funds will be released back to investors."
So presumably the FC loan bid was just a fishing expedition. Oh, very good! Tugboat goes fishing....  We will remember that for when Mr Tugboat applies for his next loan. "The borrower has decided not to accept the loan. They have informed FC that they are uncomfortable with the idea of borrowing / owing money to lots of different individuals. Thanks, FC."I've just got that one! I know conciseness can be a boon, but FC's comments are somtimes so cursory, almost dismissive .... like, "suppose we'd better tell the plebs (oops!)". 
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mikeb
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Post by mikeb on Dec 21, 2013 18:34:44 GMT
It's not all bad news though, let us now all turn attention to loan Hymn 495 ...
It's a Christmas Miracle! More than just a recovery payment, a miraculous recovery of a formerly deceased guarantor! -- well it explains the delays and difficulties with court action.
However it does make you wonder how closely FC are checking some of the information being passed their way.
Reminds me of Saxondale ...
Q: "Have you ever considered consolidating all your credit and store cards
into one loan?"
A: "No, but I have thought about
caning them all into the red then faking me own death"
So, what is the legal situation with claiming to be dead, to avoid paying a debt, hypothetically of course ... ?
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min
Member of DD Central
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Post by min on Dec 21, 2013 19:21:03 GMT
It's not all bad news though, let us now all turn attention to loan Hymn 495 ... It's a Christmas Miracle! More than just a recovery payment, a miraculous recovery of a formerly deceased guarantor! -- well it explains the delays and difficulties with court action. However it does make you wonder how closely FC are checking some of the information being passed their way. Reminds me of Saxondale ... Q: "Have you ever considered consolidating all your credit and store cards into one loan?" A: "No, but I have thought about caning them all into the red then faking me own death" So, what is the legal situation with claiming to be dead, to avoid paying a debt, hypothetically of course ... ? Excellently put. Email said: "We were told in March that the guarantor to this loan had passed away. After further investigation carried out by a third party on our behalf we found this to be false. We have since located the guarantor’s whereabouts, which has precipitated this lump sum payment and the ongoing payment plan." Gobsmacked doesn't get close!
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Post by mrclondon on Dec 22, 2013 13:17:11 GMT
And then this, from one of the last loans I bid on before deciding to cease bidding on FC:
"The borrower has decided not to accept the loan. They have informed FC that they are uncomfortable with the idea of borrowing / owing money to lots of different individuals."
which reinforces my view that a number of loans are being listed on FC without the borrower's consent. It does beg the question as to whether this borrower knows that the debt financing he is currently seeking is at risk of not being repaid.
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mikeb
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Post by mikeb on Dec 22, 2013 20:57:35 GMT
Please tell me that was 4208 MRC -- if not, the excuses are getting recycled.
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We will remember that for when Mr Tugboat applies for his next loan.
