michaelc
Member of DD Central
Say No To T.D.S.
Posts: 5,708 
Likes: 2,984
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Post by michaelc on Dec 10, 2018 16:48:01 GMT
Just got this, but perhaps its nothing new?
Hi Michael,
We've noticed you're not currently lending through your Funding Circle account. That means you have funds that aren't being lent to businesses and so are not earning you interest. To make your money work harder for you, sign in to your account and turn lending back on from the Lending Settings page.
By lending to businesses your capital is at risk.
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Post by GSV3MIaC on Dec 10, 2018 20:48:35 GMT
Ah, I get the one that says 'Hi, you don't seem to have any money in your Funding Circle account .. ' Personally I prefer mine. 8>.
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bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
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Post by bigfoot12 on Dec 11, 2018 8:17:13 GMT
I used my email as a kind reminder that enough recoveries and interest on late loans had built up to make another withdrawal!
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Post by captainconfident on Dec 11, 2018 10:39:18 GMT
I received this email from FC with its hopeful request to increase my investment on the same day (10th Dec) that I saw my investment total decrease by nearly £400 yesterday as two loans allocated to me by the FC randomiser crashed after 6 months of repayments. 52522 and 53425.
This follows the realisation that FC leant 269k to ***** ****** Wind Ltd, the company behind the four failed I** loans on AC, a year after they defaulted those AC loans. The FC loan of course defaulted after three months. Well, who'd have expected that? FC are using a drone to rubber stamp loan application forms waved out of the prison cell windows.
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Stonk
Stonking
Posts: 735
Likes: 658
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Post by Stonk on Dec 11, 2018 11:10:45 GMT
If FC learned to say NO instead of lending to anything that casts a shadow, there would be plenty of lender money to go round.
This morning the FC machine has dealt me loan 68470. It is a £54K loan to "refinance our current loans" to a company with negative net assets, a maxed-out £9K overdraft, making a £26K loss on £194K turnover, and whose credit rating has been 15/100 for the last 6 months. I doubt they will even make the first repayment. You couldn't make it up. The name of the borrower is very appropriate: let's just say FC have hit rock bottom with this one.
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zlb
Member of DD Central
Posts: 1,422
Likes: 333
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Post by zlb on Dec 11, 2018 13:45:49 GMT
If FC learned to say NO instead of lending to anything that casts a shadow, there would be plenty of lender money to go round.
This morning the FC machine has dealt me loan 68470. It is a £54K loan to "refinance our current loans" to a company with negative net assets, a maxed-out £9K overdraft, making a £26K loss on £194K turnover, and whose credit rating has been 15/100 for the last 6 months. I doubt they will even make the first repayment. You couldn't make it up. The name of the borrower is very appropriate: let's just say FC have hit rock bottom with this one.
Raising this question, do you think? p2pindependentforum.com/thread/13756/p2p-companies-struggling-investments
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benaj
Member of DD Central
N/A
Posts: 5,618
Likes: 1,741
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Post by benaj on Dec 11, 2018 14:30:04 GMT
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Post by wiseclerk on Dec 11, 2018 14:42:21 GMT
It seems FC has decided to go global. Statistics suggests UK lending is not growing as fast compared to US, Germany and Netherlands From the figures available on FCs webistes I can deduct that the vast majority of FC's lending is in the UK. I also very much doubt that FC volume growth in Germany is phenomenal. At least in absolute volumes. Could be different if one looked at percentages.
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Post by hammertime on Dec 11, 2018 15:15:38 GMT
I dont know how F/C get away with it really its criminal. But as long as there are people willing to invest then they will carry on.
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acky
Posts: 481
Likes: 262
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Post by acky on Jan 3, 2019 15:13:43 GMT
I've had parts for sale for the last 24 hours or more and have sold absolutely nothing. Over the past year, invariably parts have sold in minutes of being put up for sale (usually about two minutes). Anyone else finding the same?
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blender
Member of DD Central
Posts: 5,719
Likes: 4,272
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Post by blender on Jan 3, 2019 15:24:00 GMT
I've had parts for sale for the last 24 hours or more and have sold absolutely nothing. Over the past year, invariably parts have sold in minutes of being put up for sale (usually about two minutes). Anyone else finding the same? They have probably had 'credit events' after you listed them, judging from my account.
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acky
Posts: 481
Likes: 262
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Post by acky on Jan 3, 2019 15:26:21 GMT
I've had parts for sale for the last 24 hours or more and have sold absolutely nothing. Over the past year, invariably parts have sold in minutes of being put up for sale (usually about two minutes). Anyone else finding the same? They have probably had 'credit events' after you listed them, judging from my account. No they haven't. I just figure that "Autobuy" doesn't need to buy from the SM at the moment because FC don't have enough investor funds to fully service the SM.
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Stonk
Stonking
Posts: 735
Likes: 658
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Post by Stonk on Jan 3, 2019 15:32:59 GMT
I have had parts for sale for 10 days, and they have not sold.
A month ago, I sold a portfolio of 200 loans in under 2 minutes. Something is wrong: I suspect it's technical rather than a lack of lender money. I sold the odd loan now and then before Christmas, and they went almost immediately. Then suddenly it jammed up and nothing more sold.
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blender
Member of DD Central
Posts: 5,719
Likes: 4,272
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Post by blender on Jan 3, 2019 15:58:56 GMT
They have probably had 'credit events' after you listed them, judging from my account. No they haven't. I just figure that "Autobuy" doesn't need to buy from the SM at the moment because FC don't have enough investor funds to fully service the SM. You are probably right. Things have not been the same since repayments were made optional. I am nearly out.
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acky
Posts: 481
Likes: 262
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Post by acky on Jan 3, 2019 16:16:45 GMT
I have had parts for sale for 10 days, and they have not sold.
A month ago, I sold a portfolio of 200 loans in under 2 minutes. Something is wrong: I suspect it's technical rather than a lack of lender money. I sold the odd loan now and then before Christmas, and they went almost immediately. Then suddenly it jammed up and nothing more sold.
I hope you are right that the problem is technical, but I am less optimistic. However when I stopped selling and relisted them, I did get an e-mail from FC congratulating me on selling nothing and telling me that my zero funds were ready to withdraw - that made me feel a lot better .... not!
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