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Post by bernythedolt on Mar 30, 2020 22:05:32 GMT
Has FC cancelled all sales form 19th March? I said frozen (as in suspended), rather than cancelled, but who knows what they're up to? It's certainly gone uncharacteristically quiet if you look at page 1 of this thread.
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Post by natasha1 on Mar 31, 2020 9:39:26 GMT
How do you relist the loans? Do you stop selling and then re-start selling, that's straight forward?
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Post by rainydaze on Mar 31, 2020 9:40:16 GMT
So today is the 120th day ? Do we need to go and hit any new buttons ?.. lol
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Post by natasha1 on Mar 31, 2020 14:01:57 GMT
Richv, did you say the 12th April is the day I need to re-start selling? How do you do this? Is it a matter of stopping and selling the loans again?
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Post by Badly Drawn Stickman on Mar 31, 2020 14:10:08 GMT
Richv, did you say the 12th April is the day I need to re-start selling? How do you do this? Is it a matter of stopping and selling the loans again? Logically if you go to the sell page and it is not showing as selling, you relist. Apart from a percentage issue, there would be nothing to stop you cancelling and relisting anyway if the 120 day rule is bothering you (assuming they are applying it?)
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richv
Posts: 42
Likes: 11
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Post by richv on Mar 31, 2020 16:18:00 GMT
Richv, did you say the 12th April is the day I need to re-start selling? How do you do this? Is it a matter of stopping and selling the loans again? I might have got the date wrong, it might be today or tomorrow, maybe midnight, I don't know, sorry. This will be the first time FC has done this and It might be that FC has forgotten, or changed their mind. it does not seem to have happened so far, if concerned you could stop and restart the sale, but I'm leaving what little I have to the end and seeing what happens. if you are not going anywhere, watching this site and seeing what others post may be the best plan.
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Post by bernythedolt on Mar 31, 2020 20:52:30 GMT
Go to Lending Settings...click on View Progress... "We’ll email you when the sale is complete or after 120 days when any remaining unsold loan parts will be delisted." [My bold].
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Post by dogeared on Apr 1, 2020 7:57:52 GMT
Nothing seems to have happened - maybe because the tool is suspended?
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Post by bernythedolt on Apr 1, 2020 11:13:37 GMT
I had a call from FC's Mr Loof Lirpa, saying they have cancelled the selling tool and they don't care if you complain to the Ombudsman, because they will just bung it in a several months long queue and ignore you.
Actually the last part is entirely true! 😁
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richv
Posts: 42
Likes: 11
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Post by richv on Apr 1, 2020 11:20:53 GMT
There does not seem any change in my lending settings, i.e. it still displays 'You are currently selling your loan parts' and no email from FC
For me thats a bonus as I have sold all my live loans but a a few 'late' loans that could, in theory, makes enough payments for it to become 'live' again and then sell.
Have we miscounted the 120 days?
Have FC forgotten?
Have FC changed there mind?
Have FC delayed Delayed because of COVID?
Has anybody had there sale canceled?
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Post by Badly Drawn Stickman on Apr 1, 2020 11:27:53 GMT
There does not seem any change in my lending settings, i.e. it still displays 'You are currently selling your loan parts' and no email from FC For me thats a bonus as I have sold all my live loans but a a few 'late' loans that could, in theory, makes enough payments for it to become 'live' again and then sell. Have we miscounted the 120 days? Have FC forgotten? Have FC changed there mind? Have FC delayed Delayed because of COVID? Has anybody had there sale canceled? The 120 days is a legacy from the past, back then people could choose which loans to sell and add a premium or discount (yes I know it sounds a little like a myth now). It realistically serves no purpose these days and could just be being ignored.
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supyk
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Post by supyk on Apr 1, 2020 12:41:33 GMT
I got the email from FC this morning (Start of email) Hi xxxxxx As your 120-day selling period has now ended, it’s time to choose your next step. You can either resume lending, withdraw available funds, or access more funds. 1. Resume lending If you’re still looking to earn for your future, you can resume lending on the Lending Settings page in your account. At this important time, we have introduced measures to protect investor returns and focus on providing loans to businesses that we expect to be resilient during this period. Login to resume lending (link) 2. Withdraw available funds Log in to your account to withdraw your available funds to your bank account. Simply go to the ‘Transfers’ page. 3. Access more funds If you want to access more funds you have two options: Withdraw your monthly repayments By keeping lending off, repayments will continue to accrue in your account. You typically receive 3 - 5% of your portfolio back monthly, and there is no cost to withdraw these funds. Continue selling your loans As your 120-day selling period has ended, you are no longer selling loans. If you want to continue selling, log back into your account and go to the ‘Access Funds’ page. A transfer payment will continue to be deducted from sold loan parts and passed to the buyer. Login to your account (link) We’d like to take this opportunity to thank you for being a valued investor, by funding small businesses you help create thousands of jobs, support communities and drive the economy forward. We hope you’ll continue to lend to businesses through Funding Circle. Remember, by lending to businesses your capital is at risk. Funding Circle is not covered by the Financial Services Compensation Scheme. — The Funding Circle Team (end of email) I logged in and the Access Funds page no longer shows me as selling. It says "Sell your loan parts" with the new amount of active loan parts avbl to sell. The problem is, after entering a figure and then Confirm & Start Selling, I get an error page This page isn’t working www.fundingcircle.com is currently unable to handle this request. HTTP ERROR 500 Anybody else got this and reported it to FC?
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Post by filippo on Apr 1, 2020 13:25:10 GMT
Hi, I got the same error message this morning. Reported this to FC.
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Post by filippo on Apr 1, 2020 14:26:16 GMT
Now it works for me. Back onto the selling queue Day 0.
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vckid
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Likes: 18
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Post by vckid on Apr 1, 2020 15:39:29 GMT
Yep, worked for me also. Now selling again. I also noticed 9 new loan downgrades all from the 30th March due to dd’s being cancelled. Ouch that’s gonna hurt! Plenty more to come no doubt.
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