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Post by sunburyjane on Dec 27, 2018 14:38:15 GMT
The items in this loan were sold on 301118 along with many other loans. I have received my pittance from a couple of other train loans but this one is still outstanding despite being assured by FS that it would be completed over a week ago. Yet another example of FS incompetence. Thankfully I have only a few loans left with them. Unfortunately they include £1400 in Whitehaven
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r1200gs
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Post by r1200gs on Dec 27, 2018 16:30:05 GMT
The items in this loan were sold on 301118 along with many other loans. I have received my pittance from a couple of other train loans but this one is still outstanding despite being assured by FS that it would be completed over a week ago. Yet another example of FS incompetence. Thankfully I have only a few loans left with them. Unfortunately they include £1400 in Whitehaven Yup, I still seem to be sitting on this one despite the items being sold a month ago. I suspect FS have got themselves in an almighty mess with these railway loans.
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adrian77
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Post by adrian77 on Dec 28, 2018 12:23:10 GMT
what bad luck ; my sympathies. Just how FS managed to lose 97.5% on a loan against property with 66% LTV (yeah right) just beggars belief. I really hope there is a class action against FS for this egregious c*ck up and you at least get something back
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r1200gs
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Post by r1200gs on Dec 28, 2018 22:36:34 GMT
what bad luck ; my sympathies. Just how FS managed to lose 97.5% on a loan against property with 66% LTV (yeah right) just beggars belief. I really hope there is a class action against FS for this egregious c*ck up and you at least get something back Negligence.
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Post by sunburyjane on Jan 2, 2019 15:36:42 GMT
Contacted FS again and apparently the loan will be finalised and paid out by the end of the week (again). FS are obviously having some very serious problems. If they can't do some simple maths on the sale of some toys how can they be trusted to deal with millions of pounds worth of properties. Oh yes..... they can't and that's why I'm nearly out before the ship sinks
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r1200gs
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Post by r1200gs on Jan 3, 2019 11:09:30 GMT
Contacted FS again and apparently the loan will be finalised and paid out by the end of the week (again). FS are obviously having some very serious problems. If they can't do some simple maths on the sale of some toys how can they be trusted to deal with millions of pounds worth of properties. Oh yes..... they can't and that's why I'm nearly out before the ship sinks It really does look like they are completely clueless here. It's now over a month since payment and they are still allocating? It looks to me like they are just in a complete muddle with these railway loans and have completely lost the plot.
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jonno
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nil satis nisi optimum
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Post by jonno on Jan 3, 2019 11:42:31 GMT
Contacted FS again and apparently the loan will be finalised and paid out by the end of the week (again). FS are obviously having some very serious problems. If they can't do some simple maths on the sale of some toys how can they be trusted to deal with millions of pounds worth of properties. Oh yes..... they can't and that's why I'm nearly out before the ship sinks It really does look like they are completely clueless here. It's now over a month since payment and they are still allocating? It looks to me like they are just in a complete muddle with these railway loans and have completely lost the plot. Totally agree. This relatively minor issue is symptomatic of the total, complete, utter mess that this embarrassing company has become. GET OUT NOW.
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Godanubis
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Post by Godanubis on Jan 4, 2019 2:02:39 GMT
It really does look like they are completely clueless here. It's now over a month since payment and they are still allocating? It looks to me like they are just in a complete muddle with these railway loans and have completely lost the plot. Totally agree. This relatively minor issue is symptomatic of the total, complete, utter mess that this embarrassing company has become. GET OUT NOW. The actual failure statistics don’t justify the conclusions reached. The investment statagy of the individual investor determines their loss and should never be more than 1 month equivalent interest within their portfolio for any one loan. So always you will have a profit overall. Fixation on single problem loans is of no benefit. Look at them in perspective and move on
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r1200gs
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Post by r1200gs on Jan 7, 2019 15:07:47 GMT
So here we are....
Items sold 30/11/2018.
Still sitting in my list of live loans as "allocation" is still ongoing 07/01/2019.
Seriously?!
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Post by sunburyjane on Jan 8, 2019 11:49:03 GMT
Contacted FS Jackanory department as 'end of week' as promised has now passed. Today's promise is that it will be completed tomorrow. In the absence of any explanation from FS as to why they are avoiding payment on this loan I can only think of one possible explanation. FS got their sums wrong and used the funds to pay the other loans, and when they realized their mistake didn't have sufficient funds to make good their mistake. If this is the case then as this is a relatively small amount, then where will the funds come from to make good their gross incompetence on Whitehaven.
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r1200gs
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Post by r1200gs on Jan 8, 2019 12:03:21 GMT
Contacted FS Jackanory department as 'end of week' as promised has now passed. Today's promise is that it will be completed tomorrow. In the absence of any explanation from FS as to why they are avoiding payment on this loan I can only think of one possible explanation. FS got their sums wrong and used the funds to pay the other loans, and when they realized their mistake didn't have sufficient funds to make good their mistake. If this is the case then as this is a relatively small amount, then where will the funds come from to make good their gross incompetence on Whitehaven. I believe you are right, they managed to completely mess this up. Multiple items, multiple loans and multiple renewals = They haven't got a clue any more. I don't believe any of us in these loans will ever have any idea if the money received is correct or not, because we don't know what the dealer paid for any particular item. It's not the money with this one, the loss is miniscule compared to the money lost in turbines and holes in the wall, but this just displays further gross incompetence. You need your head testing to be lending through FS. Of course, if I have the wrong end of the stick here and there is a good reason for this sitting in my live loans list since being sold on the 30/11/1018 then I invite fundingsecure to put me right and clear up the misunderstanding and restore our faith in them. *Doesn't hold breath waiting for a response*.
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r1200gs
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Post by r1200gs on Jan 11, 2019 13:15:15 GMT
So here we are again more than 40 days after these were sold and we STILL don't have the loan closed because FS apparently STILL don't know how much money we should get. Two promises to get this closed have been broken and they have about 3 hours to go to make it three times lucky. So come on fundingsecure, tell us just what a pitiful amount were going to get back and by the way, it would be really nice if you could explain how it's taken nearly a month and half to decide? |
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Post by sunburyjane on Jan 11, 2019 18:40:57 GMT
As might have been expected, the promise of this matter being closed is now two days late. One broken promise is bad enough, but this is the third time. FS are blatantly lying for some reason, and all over a trivial amount. There is something very wrong at FS. Take your money and run or it will be tied up for years when it all goes wrong.
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adrian77
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Post by adrian77 on Jan 12, 2019 11:06:44 GMT
Exactly - in fact you could say FS is about to hit the buffers...
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jonno
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nil satis nisi optimum
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Post by jonno on Jan 12, 2019 12:50:07 GMT
As might have been expected, the promise of this matter being closed is now two days late. One broken promise is bad enough, but this is the third time. FS are blatantly lying for some reason, and all over a trivial amount. There is something very wrong at FS. Take your money and run or it will be tied up for years when it all goes wrong. Agree with your sentiments apart from the last bit..................it already has all gone wrong.
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