mj87
Posts: 24 
Likes: 6
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Post by mj87 on May 20, 2019 13:04:30 GMT
Hello,
Can anyone give me a user experience of this company and any of its products.
thanks in advance.
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Nomad
Member of DD Central
Posts: 708
Likes: 475
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Post by Nomad on May 20, 2019 18:03:47 GMT
Hello, Can anyone give me a user experience of this company and any of its products. thanks in advance. I invested with them during 2017 and all went OK. Lately there have been very few new loans on offer, and most offers on the resale market are for 2 and 3 figure amounts.
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Mucho P2P
Member of DD Central
Posts: 937
Likes: 1,607
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Post by Mucho P2P on May 20, 2019 19:14:18 GMT
It would be a good platform, BUT all they have is effectively new tranches of existing loans recently. I believe we are up to Project Seascape 22 now! A few defaults and limited updates on how they are being handled.
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mj87
Posts: 24
Likes: 6
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Post by mj87 on May 21, 2019 12:53:19 GMT
Anyone invested in their ISA? by any chance.
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Mucho P2P
Member of DD Central
Posts: 937
Likes: 1,607
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Post by Mucho P2P on May 21, 2019 19:45:36 GMT
Not me, so can not help you with that query.
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shimself
Member of DD Central
Posts: 2,555
Likes: 1,167
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Post by shimself on Apr 16, 2021 14:21:30 GMT
Their website says Money&Co. has been lending for over 5 years and has only had two bad debts so far, representing a bad debt rate of 0.03 per cent per annum.
If true that's excellent. How much is this a massaged stat?
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Mucho P2P
Member of DD Central
Posts: 937
Likes: 1,607
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Post by Mucho P2P on Apr 16, 2021 15:15:21 GMT
Their website says Money&Co. has been lending for over 5 years and has only had two bad debts so far, representing a bad debt rate of 0.03 per cent per annum.
If true that's excellent. How much is this a massaged stat?
I have several that are not paying, usual excuses. Their definition of bad debt can be summed up as, all attempts at further recovery have failed. Personally, I would love to invest more, but need to know just how good the credit checking process is, and especially the debt recovery process is.
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Post by Lender on Feb 24, 2022 11:00:24 GMT
Opened account with Money&co
Deposited funds on 5th Feb
No acknowledgement but credit shown on account
I was disappointed to find no investment opportunities
Looked again some days later, no change
Looked again some days later, no change
Decided to take money back
Withdrawal blocked
Sent message via website 21st Feb received auto response by email
No further response, replied to auto response by email today
I hope to get my money back eventually but have no confidence in their systems.
I believe they intend or indeed are applying for a banking licence!
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Post by Lender on Feb 24, 2022 16:17:38 GMT
Finally had a phone call
No apology, just a bland excuse that "someone" had not been doing his/her job!
Got my money back but not at all impressed
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