keitha
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2024, hopefully the year I get out of P2P
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Post by keitha on Jun 27, 2019 15:17:57 GMT
Has been defaulted for some time as borrower isn't paying, I've had 2 1P recoveries which I'm sure are against this one. A wicked thought what would happen if loads of lenders all booked tables and at the end of the meal said "take off what you owe me on funding circle!"
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Post by valerieb on Jun 28, 2019 6:28:24 GMT
Not in this loan, but assuming it’s a one-off visit, I’d be very tempted to do this!
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blender
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Post by blender on Jun 28, 2019 9:14:28 GMT
Best to make sure it exists/is still trading before you make the journey.
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keitha
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Post by keitha on Jun 28, 2019 12:19:37 GMT
seems to be across the country
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keitha
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Post by keitha on Sept 27, 2019 10:03:55 GMT
We have made contact with Guarantor, but have been unable to agree on a payment plan which is fair to the investors. We have therefore issued a claim against the Guarantor. The court has issued the claim and the Guarantor has failed to respond. We have therefore requested judgment. We will update investors in 6 - 8 weeks time.
looks positive, but will FC enforce judgement with bailiffs or sheriffs, given the business still trades it should be fairly easy, and yes I know if goods are taken they would probably need to take £250,000 worth to cover £50,000 debt.
Am I heartless yes, he borrowed money from me, last accounts show £250,000 of assets.
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keitha
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Post by keitha on Dec 10, 2019 9:53:24 GMT
We are currently in the processes of enforcing the judgment on guarantor outside the jurisdiction in Scotland. We will update investors in 9 - 10 weeks
I assume this means guarantor live in or has moved to Scotland, if they live there and were there before action started it would've been better for us the lenders to take the action in Scotland,
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Stonk
Stonking
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Post by Stonk on Dec 10, 2019 14:51:16 GMT
Am I heartless yes, he borrowed money from me, last accounts show £250,000 of assets.
It seems a common theme that borrowers do not declare their full liabilities to FC. I'd take those assets with a pinch of freshly ground sea salt. The best chance of getting your money's worth out of this loan is to book a table there for 100 and leg it afterwards.
I have many defaults due to insolvency, liquidation, etc where the Statement of Affairs filed at Companies House bears no resemblance to the Financials tab in FC. One recent instance was a trader whose business seemed to be fairly above water, declaring to FC some assets and a £30K bank overdraft. When they collapsed, it turns out the assets were non-existent and they owed well over £500K to various entities, including quite a few banks and other lenders.
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keitha
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Post by keitha on Dec 10, 2019 15:45:48 GMT
HMM looking on companies house
Director 1 declares address in Aberdeen but says usually resident in England
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keitha
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Post by keitha on Dec 17, 2020 10:20:19 GMT
latest update :-
25/9/2019 Issued Clam against Guarantor
6/12/19 Enforcing judgement update 9-10 weeks
20/10/20 Taking legal proceedings
ERR isn't that what they did in September 2019, and speaking to a friend with some legal knowledge IF I get a judgement against mr A for a debt of £500, I can't then go to court and get another Judgement against mr A for the same £500, I can take steps to enforce the original judgement, but not get a second judgement.
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keitha
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Post by keitha on Dec 29, 2020 17:56:00 GMT
so I slapped in a complaint detailing what has happened, and asked why when legal action was taken last year was a new lot started i October this year, got a fob off answer referring to the new updates process, so I've fired it back and said "in no way does this answer my questions or concerns" got a reply back within the hour, "we will escalate to a senior person".
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rogerthat
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Post by rogerthat on Dec 29, 2020 20:04:45 GMT
so I slapped in a complaint detailing what has happened, and asked why when legal action was taken last year was a new lot started i October this year, got a fob off answer referring to the new updates process, so I've fired it back and said "in no way does this answer my questions or concerns" got a reply back within the hour, "we will escalate to a senior person". Senior by what metric..age, the next biggest desk or just stupidity ? Been there, grown out of the tee shirt. Good luck..but dont hold your breath
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keitha
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Post by keitha on Dec 30, 2020 19:14:07 GMT
so I slapped in a complaint detailing what has happened, and asked why when legal action was taken last year was a new lot started i October this year, got a fob off answer referring to the new updates process, so I've fired it back and said "in no way does this answer my questions or concerns" got a reply back within the hour, "we will escalate to a senior person". Senior by what metric..age, the next biggest desk or just stupidity ? Been there, grown out of the tee shirt. Good luck..but dont hold your breath you forgot to factor in the depth of pile of carpet in the office. I've worked in organisations like that where basically you could work out seniority based on size of desk , distance from door to desk and depth of pile of carpet
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ilmoro
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Post by ilmoro on Dec 30, 2020 20:14:21 GMT
so I slapped in a complaint detailing what has happened, and asked why when legal action was taken last year was a new lot started i October this year, got a fob off answer referring to the new updates process, so I've fired it back and said "in no way does this answer my questions or concerns" got a reply back within the hour, "we will escalate to a senior person". Senior by what metric..age, the next biggest desk or just stupidity ? Been there, grown out of the tee shirt. Good luck..but dont hold your breath Control of the table tennis bats & balls?
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keitha
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Post by keitha on Feb 6, 2021 11:29:19 GMT
Well its repaying now, but at the current rate only 22 years before it's paid off !
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keitha
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Post by keitha on Apr 1, 2021 11:51:42 GMT
Now had 3 payments in 3 months totalling just over 1% so 4% a year or 25 years to repay, I might just survive this one.
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