Post by 09dolphin on May 14, 2019 19:15:28 GMT
Really disappointed by this borrower. They made all payments on time (or nearly) on their 1st loan = presumably to establish a credit history but they have basically defaulted on their second and larger loan from their 1st repayment as it's significantly overdue. I do hope that RBS enforce the security they offered as they say they will.
The lesson O****** E****** have taught me is to ignore all borrowers previous payment history and to assume that a business wanting a second loan after a relatively short period are likely to just want money which the borrower has no intention of repaying. It's sad that I believe some borrowers seem so dishonest but I will not be investing in 2nd loans in the future.
Lesson learnt.
I accept that borrowers can have money problems during the period they are repaying but the apparent dishonesty of this company is breathtaking.
The lesson O****** E****** have taught me is to ignore all borrowers previous payment history and to assume that a business wanting a second loan after a relatively short period are likely to just want money which the borrower has no intention of repaying. It's sad that I believe some borrowers seem so dishonest but I will not be investing in 2nd loans in the future.
Lesson learnt.
I accept that borrowers can have money problems during the period they are repaying but the apparent dishonesty of this company is breathtaking.