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Post by ianrother on May 18, 2021 13:48:52 GMT
I had loans waiting to sell from 18 months ago - I had actually written them off as far as any expectation of ever seeing my money again - then suddenly out of the blue all were sold at once and I got all my cash back - i just don't know whether I would touch Fundourselves again until their communication improves and they will actually speak to investors
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optimist
Member of DD Central
Posts: 124
Likes: 72
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Post by optimist on Jun 3, 2021 18:57:11 GMT
I had loans waiting to sell from 18 months ago - I had actually written them off as far as any expectation of ever seeing my money again - then suddenly out of the blue all were sold at once and I got all my cash back - i just don't know whether I would touch Fundourselves again until their communication improves and they will actually speak to investors I spent around an hour and a half speaking to them. The things that I was told would occur did not.
The amount of money in my account changed very shortly after the conversation, and to my mind therefore, this was potentially dependent on my asking difficult questions
My advice is always make your own mind up but to do so I would suggest: Look at the calculations that they quote and then do the calculations yourself and see whether the number match - for me they did not Look at the expected % return and then track what you actually get paid - for me these numbers also did not match See if they will send a full statement - I have never seen one
Personally I am now delighted that my money has returned to the FO bank account as they are unlikely to be able to claw it back from there. I consider it a close shave dealing with them, and wouldn't consider touching them with the world's longest bargepole.
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optimist
Member of DD Central
Posts: 124
Likes: 72
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Post by optimist on Jul 11, 2021 10:50:24 GMT
The ombudsman has started making inquiries, I've recieved all my money back and an offer of compensation from FO.
Get your complaints in everyone, more voices might get a little justice and maybe prevent others from going through this fiasco
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Post by overthehill on Jul 11, 2021 12:19:44 GMT
What are specific issues with this company ? They are not jumping out at me after a bit of wading.
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Post by sayyestocress on Jul 15, 2021 8:31:22 GMT
What are specific issues with this company ? They are not jumping out at me after a bit of wading. It can take a very long time to exit investments (months to years), meanwhile you earn no interest. Some of your investments could be loans to the company themselves, which could lock you in for years. You have to turn off these loans yourself. Once you get out of the investments, it can take months for a simple bank transfer in mine and others experience. There is little to no customer support for lenders. There is no phone number and emails go ignored. I managed to exit completely well over a year ago so some of this may be outdated.
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trium
Member of DD Central
Posts: 384 
Likes: 304
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Post by trium on Jul 16, 2021 20:49:56 GMT
What are specific issues with this company ? They are not jumping out at me after a bit of wading. It can take a very long time to exit investments (months to years), meanwhile you earn no interest. Some of your investments could be loans to the company themselves, which could lock you in for years. You have to turn off these loans yourself. Once you get out of the investments, it can take months for a simple bank transfer in mine and others experience. There is little to no customer support for lenders. There is no phone number and emails go ignored. I managed to exit completely well over a year ago so some of this may be outdated.Regrettably, it's not. I finally got repaid my last loan in April, without interest, after an 18 month wait. Still have the account but not keen to test if it's still difficult to get invested (my other main issue with the platform)
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baboonery
Member of DD Central
Posts: 64
Likes: 51
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Post by baboonery on Jul 17, 2021 8:27:09 GMT
It can take a very long time to exit investments (months to years), meanwhile you earn no interest. Some of your investments could be loans to the company themselves, which could lock you in for years. You have to turn off these loans yourself. Once you get out of the investments, it can take months for a simple bank transfer in mine and others experience. There is little to no customer support for lenders. There is no phone number and emails go ignored. I managed to exit completely well over a year ago so some of this may be outdated.Regrettably, it's not. I finally got repaid my last loan in April, without interest, after an 18 month wait. Still have the account but not keen to test if it's still difficult to get invested (my other main issue with the platform) Pretty much the same experience for me. One difference is that I then e-mailed them stating that I wished to close my account. Suffice to say that I got no reply and the account is still active.
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Post by tmn on Jul 17, 2021 10:16:25 GMT
The worst financial institution I have ever had the misfortune to invest in!
I finally got all my money out. The original withdrawal request was done in Nov 2019. During that time I had wait 5 months for just the money that was sitting in my cash account.
The financial ombudsmen negotiated some compensation for me.
The whole episode did have one positive effect though. I had written off the money so was delighted to get it all back - because of that I donated a proportion of it to some local community projects.
I'm also disappointed with how long it took the Ombudsmen to pick up my case
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Mucho P2P
Member of DD Central
Posts: 946
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Post by Mucho P2P on Jul 17, 2021 10:58:08 GMT
The worst financial institution I have ever had the misfortune to invest in! I finally got all my money out. The original withdrawal request was done in Nov 2019. During that time I had wait 5 months for just the money that was sitting in my cash account. The financial ombudsmen negotiated some compensation for me. The whole episode did have one positive effect though. I had written off the money so was delighted to get it all back - because of that I donated a proportion of it to some local community projects. I'm also disappointed with how long it took the Ombudsmen to pick up my case I take it you were not invested in Lendy or FundingSecure if FO was " the worst financial institution you have ever had the misfortune to invest in". Glad to hear you have all your capital back. So muchfor FCA regulation, yet again!
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Post by tmn on Jul 17, 2021 14:35:20 GMT
No, not in either of those two - but was in thincats
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,315
Likes: 11,523
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Post by ilmoro on Jul 22, 2021 11:22:06 GMT
Well now that most of you have sodded off. For the brave & the stupid that remain ie me the platform seems to be back working the way it did before it got popular. Mostly fully invested, PF paying out (and emails being sent to that effect after 20 months of silence), PF & bonus interest credited each month. Even my small withdrawals arriving in a few days, got double bubble on the last one as they managed to pay it out twice (if it doesnt get reclaimed I suppose I will have to contact CS and see if they respond to get it back)
Now that said I havent tried exiting any of my investments, the website is still a study in user unfriendliness and disfunctionality (including possible regulatory breaches when it comes to PF disclaimers) and I wouldnt put any new money in or recommend it but currently on paper my top performing platform.
So there you go, the grudging balanced perspective offered to the debate. Carry on with the slaughter.
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optimist
Member of DD Central
Posts: 124
Likes: 72
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Post by optimist on Jul 28, 2021 17:46:05 GMT
Well now that most of you have sodded off. For the brave & the stupid that remain ie me the platform seems to be back working the way it did before it got popular. Mostly fully invested, PF paying out (and emails being sent to that effect after 20 months of silence), PF & bonus interest credited each month. Even my small withdrawals arriving in a few days, got double bubble on the last one as they managed to pay it out twice (if it doesnt get reclaimed I suppose I will have to contact CS and see if they respond to get it back) Now that said I havent tried exiting any of my investments, the website is still a study in user unfriendliness and disfunctionality (including possible regulatory breaches when it comes to PF disclaimers) and I wouldnt put any new money in or recommend it but currently on paper my top performing platform. So there you go, the grudging balanced perspective offered to the debate. Carry on with the slaughter. As the only half positive response, have you tried calculating how much money you should have made according to the published % and then compared that to the amount you account actually goes up by? For me, I should have earned 12% but for a few months was actually earning around 4-6% and the amount even dropped on a couple of occasions.
After a year of asking I've never had a full statement and the numbers don't add up. I'd mention the lying CEO and completely unreasobable Ts&Cs where they stop paying you interest but don't give you your money but I've said enough about that b4
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optimist
Member of DD Central
Posts: 124
Likes: 72
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Post by optimist on Jul 28, 2021 17:53:50 GMT
What are specific issues with this company ? They are not jumping out at me after a bit of wading. Have a look back through my previous posts.
The numbers don't add up (and I can do maths). There is no way to get your money back without losing interest and they may take months or years.
Yup. think about that, you put your money in, they tell you that you're earning 12% but actuallly pay 5%, there is no record, you can't get a statement, they don't answer emails etc.
When you get fed up and ask for your money back they point to their terms and conditions and stop paying you the 5% but don't give you your money.
They keep earning interest but you get zip. I lost more than half the total interest I should have earned, I could go on but most of it is in my previous posts already. AVOID
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michaelc
Member of DD Central
Say No To T.D.S.
Posts: 5,677
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Post by michaelc on Jul 31, 2021 11:30:41 GMT
On the plus side, their website is awful but still a lot better than The Money Platform - perhaps their main competitor.
Over there, to see my current loans I need to hit the "Next" button around 60 times to scroll past all my old loans. And that 60 will continue to grow so in a year it will be around 90.
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optimist
Member of DD Central
Posts: 124
Likes: 72
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Post by optimist on Aug 7, 2021 13:12:02 GMT
On the plus side, their website is awful but still a lot better than The Money Platform - perhaps their main competitor. Over there, to see my current loans I need to hit the "Next" button around 60 times to scroll past all my old loans. And that 60 will continue to grow so in a year it will be around 90. I'm not talking about ease of use. The data provided is blatently and obviously wrong when it states the equivalent of 2+0=1
I would be happy scrolling through lots of information if it finally resulted in being able to see the data I need.
I would be happy dealing with incompetents if they were transparent. I can do the maths if given the data.
I have never been able to get a full statement from them, even since involving the ombudsman
Money dissapears from my account, some of it reappears but the maths is still wrong.
If it simply said "Nah Nah na Nah Nah - we've got your money and we're not giving it back till we've got rich of your misery" it would be an improvement because at least it would be true
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