markr
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Post by markr on Sept 16, 2014 13:22:06 GMT
Hmm, loan 7838 appears to be a new one for FC, a 60 month unsecured loan but interest only. Or maybe it's just another FC cock up (maybe loans with Pr****ty in the title automatically get flagged as interest only).
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mikeb
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Post by mikeb on Sept 16, 2014 17:32:19 GMT
Rings a bell, this happened on one recently, the obligatory "Why is this interest only?" brought a swift (well) response that the auction was relisted.
I expect this one to go the same way.
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blender
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Post by blender on Sept 17, 2014 16:23:31 GMT
Yep.
Q. 17 Sep 2014 10:24 - Please note that a loan request for this company was previously listed (#7838) on the Funding Circle platform. The offer was not accepted on that occasion as the loan was listed as an interest only loan but was offered on an unsecured basis. Thanks, FC.
Does this say that the applicant borrower decided not to accept the loan because he/she felt that they has not given the lenders sufficient security? Having given up on Baldrick's motto 'We are not at home to Mr. Cock-up', FC's new motto must be 'We are at home to Mr Obfuscation'.
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mikeb
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Post by mikeb on Sept 17, 2014 17:42:58 GMT
The old loan was not secured. The new loan 7875 is not secured. Security doesn't appear to come into it.
"The offer was not accepted" -- no offer was made, was it? As the loan process/auction was terminated by FC.
The word "but" and everything after it is redundant chaff to distract from the fact that yet again, FC simply cocked up the listing. It was wrongly listed as interest only. Someone queried it, and, as if by very slow magic, the interest-only went away.
In the other place, we are promised more tightening up of this stuff. But not just with words, "we need to show you".
When does that start? Because it looks like "not yet" would be the answer.
And some straight up honesty would help. Stop inventing excuses and playing word games...
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blender
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Post by blender on Sept 17, 2014 18:02:38 GMT
They need some new standard wording. WSUAS - We screwed up again, sorry.
That would be better than WACTBTB - We are continuing to blame the borrower.
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Post by bracknellboy on Sept 17, 2014 18:42:42 GMT
They need some new standard wording. WSUAS - We screwed up again, sorry. I think to be fully compatible with FCs "Customer Engagement Guidelines" you probably need to lose the final S on that.
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