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Post by wiseclerk on Feb 17, 2019 9:09:36 GMT
apologies if already posted elsewhere, cold not find a thread
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IFISAcava
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Post by IFISAcava on Feb 17, 2019 10:08:12 GMT
apologies if already posted elsewhere, cold not find a thread If the BN problem wasn't enough, could this be enough to see the end of Crowdstacker?
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hazellend
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Post by hazellend on Feb 17, 2019 10:10:50 GMT
Wow, surely this spells the end for crowdstacker.
Their selling point was their due dilligence in finding strong companies to lend to.
I did have a successful loan in one of their first outings but wouldn’t touch them with a 10ft barge pole these days
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IFISAcava
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Post by IFISAcava on Feb 17, 2019 10:20:30 GMT
Wow, surely this spells the end for crowdstacker. Their selling point was their due dilligence in finding strong companies to lend to. I did have a successful loan in one of their first outings but wouldn’t touch them with a 10ft barge pole these days I'm still in for a few K unfortunately. Once of my first IFISAs (they were in the vanguard).
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hazellend
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Post by hazellend on Feb 17, 2019 10:59:04 GMT
It’s yet another lesson in being highly suspicious of everybody in finance.
Amicus were touted as a very experienced lender and they borrowed mega bucks for very low rates from crowdstackers lenders. Just another bunch of cowboys.
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hazellend
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Post by hazellend on Feb 17, 2019 11:03:26 GMT
Part of the problem is that deluded finance sector thinks it is wonderful even when they mess up and lose investors money. Check out this puke inducing quote from an article about amicus going bust:
“A note from the company posted on website LinkedIn reads: “We would like to take the opportunity to thank our staff, customers and friends for their support, hard work and dedication over the past 12 months.
“In what has been a difficult last few weeks, the people of Amicus have remained professional, committed and have pulled together to support each other and look forward. They are an amazing group of people.”
Yep they are amazing. Nothing to see here, move along!
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cwah
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Post by cwah on Feb 17, 2019 11:13:51 GMT
What happen to the outstanding loans then?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Feb 17, 2019 11:52:24 GMT
Still live charge at CH, though shares in the subsiduary company which went independent have been removed from the security. I am assuming that references to the outstanding balance due to be repaid prior to the collapse are unsubstantiated? Have people still got sums outstanding to Amicus on CS?
Knock on for P****S***/KT (DFL012/PBL200/#327) as Amicus appear to have charges/funding on two PS developments.
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benaj
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Post by benaj on Feb 17, 2019 11:54:23 GMT
This investment reached its target raise on 24 March 2017 and is now closed to further investment, two options were available.
4.32% for 12 months / higher for 18 months.
I am not in this one, but I guess those went for 4.32% would have got the money back plus investment returns.
According to CS regarding security of Amicus Finance PLC:
Double protection.
"Your capital is secured over the assets and business of Amicus currently totalling over £50m (as of October 2016) including loans to customers, secured on UK property."
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IFISAcava
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Post by IFISAcava on Feb 17, 2019 12:37:04 GMT
I've had both 12 and 18 months A***** investments returned. Just in time for the 18 month.
Stuck in £3K of Burn*** N**** and related Auth***** Ale***** loans though.
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picnicman
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Post by picnicman on Feb 17, 2019 12:38:14 GMT
This investment reached its target raise on 24 March 2017 and is now closed to further investment, two options were available. 4.32% for 12 months / higher for 18 months. I am not in this one, but I guess those went for 4.32% would have got the money back plus investment returns. According to CS regarding security of Amicus Finance PLC: Double protection."Your capital is secured over the assets and business of Amicus currently totalling over £50m (as of October 2016) including loans to customers, secured on UK property." - correct I was in the 18 month one and had all interest and capital paid back within my IFISA. I would assume therefore that there are no outstanding amounts to be paid back to CS/is not an issue for CS investors, but just my opinion/guess - others may post differently. Cheers P
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trevor
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Post by trevor on Feb 17, 2019 12:39:02 GMT
I have cash outstanding in the 6.39% 36 month which is due to mature July 2019 and next interest payment May. I've messaged them requesting the status of my investment.
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IFISAcava
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Post by IFISAcava on Feb 17, 2019 12:41:26 GMT
I have cash outstanding in the 6.39% 36 month which is due to mature July 2019 and next interest payment May. I've messaged them requesting the status of my investment. I thought they only had offered a 12 month at 4.32% and an 18 months at 5.43% from Ami*** EDIT: sorry, now I see they had the other offer too, though it isn't listed under their investments anymore.
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picnicman
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Post by picnicman on Feb 17, 2019 12:54:16 GMT
I have cash outstanding in the 6.39% 36 month which is due to mature July 2019 and next interest payment May. I've messaged them requesting the status of my investment. I thought they only had offered a 12 month at 4.32% and an 18 months at 5.43% from Ami*** EDIT: sorry, now I see they had the other offer too, though it isn't listed under their investments anymore. - yes just spotted the 36 month option in the loan brochure although not shown on platform - apologies - let us know how the response from CS goes - fingers crossed for you. Cheers P
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IFISAcava
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Post by IFISAcava on Feb 17, 2019 18:05:26 GMT
So each of the first three Crowdstacker loans (all large - all multimillion pounds) have gone bad. Is this a record?
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