r1200gs
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Post by r1200gs on Jul 25, 2019 7:15:52 GMT
If I were FS I would not invite me to an investors meeting.
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Monetus
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Post by Monetus on Jul 25, 2019 11:52:28 GMT
Please do let us know how it goes if you're attending.
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thedog
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Post by thedog on Jul 25, 2019 12:22:38 GMT
So at the risk of sticking my neck into this arguement debate on who got invited.
I run 3 accounts for family. The largest account (~£12k) was invited to the LAST event a couple of months ago but couldn't attend. Same account, although it is not now the largest, was re-invited this time and I will be going (told them it would be me not Mrs thedog, who's account it is, and that seemed to be no isssue). Another account which is is now largest (about £15k) was not invited - could be random, could be worked out connected (though seems a lot of faff to bother looking), who knows.....
A friend of mine wasn't invited but used my (wife's) invite to request a place and is going so again in fairness seems pretty open.
We've both been critical of FS to HelpDesk and to Nigel directly on many occasions, though not raised any formal complaints and usually relatively politely (perhaps me more so than my mate!).
Doesn't seem to have stopped invitations.
Will be interesting.... Thinking about what to raise. Do we have a P2PIF handshake so we can identify ourselves to each other?? Otherwise "You will know me by the cut of my clothes and the scent of my cologne" which I'm sure is a quote but I can't find it anywhere.....
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jonno
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Post by jonno on Jul 25, 2019 12:28:58 GMT
So at the risk of sticking my neck into this arguement debate on who got invited.
I run 3 accounts for family. The largest account (~£12k) was invited to the LAST event a couple of months ago but couldn't attend. Same account, although it is not now the largest, was re-invited this time and I will be going (told them it would be me not Mrs thedog, who's account it is, and that seemed to be no isssue). Another account which is is now largest (about £15k) was not invited - could be random, could be worked out connected (though seems a lot of faff to bother looking), who knows.....
A friend of mine wasn't invited but used my (wife's) invite to request a place and is going so again in fairness seems pretty open.
We've both been critical of FS to HelpDesk and to Nigel directly on many occasions, though not raised any formal complaints and usually relatively politely (perhaps me more so than my mate!).
Doesn't seem to have stopped invitations.
Will be interesting.... Thinking about what to raise. Do we have a P2PIF handshake so we can identify ourselves to each other?? Otherwise "You will know me by the cut of my clothes and the scent of my cologne" which I'm sure is a quote but I can't find it anywhere.....
Maybe you could bite someone while you're there on behalf of us not-inviteds, or at least perhaps leave them a little deposit in a corner somewhere? 
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thedog
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Post by thedog on Jul 25, 2019 12:36:55 GMT
I resent RESENT the implication that I am not house-trained! Humans......
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rocky1
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Post by rocky1 on Jul 25, 2019 14:02:04 GMT
Well between my main account and ifisa there is nearly 40k doing sod all for god knows how long now.i nearly forgot the almost 10k that is nicely accruing away in interest.why have'nt I received a invite as I would have quite a bit to say to their bloody faces.
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thedog
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Post by thedog on Jul 25, 2019 14:40:44 GMT
Interesting.
Invited account has about 2k in problems like Abergele and about the same in the racing cars but nothing in the really outstanding disasters like art and power-boat(s). It's possible they are avoiding accounts with (lots of) those....
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arby
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Post by arby on Jul 25, 2019 15:38:13 GMT
Interesting.
Invited account has about 2k in problems like Abergele and about the same in the racing cars but nothing in the really outstanding disasters like art and power-boat(s). It's possible they are avoiding accounts with (lots of) those....
It might not just be the size of the account- when was the last time you made either a new investment or a new desposit? I would imagine, given their limited resources, FS would concentrate on hearing the views of their current source of money rather than trying to win back over older/disgruntled members who hadn't invested for a number of years, i.e. Harvest the easy pickings (although I was told such a business approach would be idiotic earlier in the thread).
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09dolphin
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Post by 09dolphin on Jul 25, 2019 16:26:14 GMT
One really positive thing is that I laughed out loud at the thought of leaving a deposit in a corner at the investor meeting and the Dog not being house trained. I don't know why I was so amused but it could be because most posts are (rightly in my view) so depressing.
If you need "a deposit" I can save what I get from my nightly or morning walk - in a plastic bag of course - and forward it to you. Just forward a request!!
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rocky1
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Post by rocky1 on Jul 25, 2019 16:42:07 GMT
hey there arby less of the old/disgruntled stuff.after contacting FS many times over the years i finally had enough of the [not in the office at the moment]and all the other BS excuses.i have not lent a penny to FS for at least 12/18 monthsand have been much happier with a good 8% and return of capital from a much better organised and run company.lets just wait and see what the outcome of this meeting brings.
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benaj
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Post by benaj on Jul 25, 2019 18:57:40 GMT
Interesting.
Invited account has about 2k in problems like Abergele and about the same in the racing cars but nothing in the really outstanding disasters like art and power-boat(s). It's possible they are avoiding accounts with (lots of) those....
😑 not really impressed with the lack of invitation. Just wondering whether those invitees enjoy the meeting or not.
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bugs4me
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Post by bugs4me on Jul 25, 2019 19:00:38 GMT
It’s funny although not really the straw that breaks the camels back. In my case it was the the turbine loan which managed to turn into a loss of plus 56%. The loan was never used for it’s intended purpose and there was zero monitoring on the part of FS. Okay, I suppose these things happen but at no stage was there any remorse for the mismanagement of lender’s funds by the platform who after all are meant to be responsible to act in our best interests. During the middle of July last year investors were promised a copy of the final administrators report. Well, what a surprise, it never materialised. I did query this with the platform but my mail went unanswered - another what a surprise. It occurred to me that within the DNA of FS there exists a total contempt towards lenders and their hard earned cash. So decided to withdraw as much as possible with my last loan - yes, another FS fiasco, the W***h H***l being repaid a percentage of the original loan sometime this year although the repayment terms do seem to be open to amending at any stage. If that loan does repay (eventually) then my FS IRR will be in the 4.5% range. I consider myself lucky and no it wasn’t worth it. So to those that earn in the 15% range via FS assuming you have no special privileges then my hat goes off to you. For others it’s really a case of ‘hope’ which isn’t particularly helpful when dealing with a bunch a charlatans in my view.
Needless to say I'm definitely not on the invite list but even if I was I wouldn't be prepared to spend any of my time listening to a bunch of amateurs spout off. |
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jonno
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nil satis nisi optimum
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Post by jonno on Jul 26, 2019 8:37:21 GMT
One really positive thing is that I laughed out loud at the thought of leaving a deposit in a corner at the investor meeting and the Dog not being house trained. I don't know why I was so amused but it could be because most posts are (rightly in my view) so depressing. If you need "a deposit" I can save what I get from my nightly or morning walk - in a plastic bag of course - and forward it to you. Just forward a request!! Wow! You mean you pick up your own deposits!!!! Your a clever little girl 
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11025
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Post by 11025 on Jul 26, 2019 9:15:22 GMT
It’s funny although not really the straw that breaks the camels back. In my case it was the the turbine loan which managed to turn into a loss of plus 56%. The loan was never used for it’s intended purpose and there was zero monitoring on the part of FS. Okay, I suppose these things happen but at no stage was there any remorse for the mismanagement of lender’s funds by the platform who after all are meant to be responsible to act in our best interests. During the middle of July last year investors were promised a copy of the final administrators report. Well, what a surprise, it never materialised. I did query this with the platform but my mail went unanswered - another what a surprise. It occurred to me that within the DNA of FS there exists a total contempt towards lenders and their hard earned cash. So decided to withdraw as much as possible with my last loan - yes, another FS fiasco, the W***h H***l being repaid a percentage of the original loan sometime this year although the repayment terms do seem to be open to amending at any stage. If that loan does repay (eventually) then my FS IRR will be in the 4.5% range. I consider myself lucky and no it wasn’t worth it. So to those that earn in the 15% range via FS assuming you have no special privileges then my hat goes off to you. For others it’s really a case of ‘hope’ which isn’t particularly helpful when dealing with a bunch a charlatans in my view.
Needless to say I'm definitely not on the invite list but even if I was I wouldn't be prepared to spend any of my time listening to a bunch of amateurs spout off. There is nothing to stop you opening this as an official complaint , the longer FS can get away with this type of behaviour they will.
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Post by denzilh on Jul 28, 2019 22:38:06 GMT
Please do let us know how it goes if you're attending. I did attend the meeting, I didn't really get to hold their feet to the fire really! Perhaps I'm a little too soft. The main thrust of what they had to say is that they want to engage with us and communicate better via the platform with better more meaningful updates and they are looking to make progress on the bad loanbook. I spoke to the team in small groups and was very informal I did say that the DD on the loans historically was poor along with valuations and it shouldn't be the forum to find out more about the loanbook as they are the "professionals" I didn't press them enough that they should take responsibility and compensate us for their failings and to take action against valuers, but I'll try to attend another invester meeting to put this better. I think they are backed by Raj Kumar? so they hopefully won't go under which was something I was worried about initially, but I said it is real progress on the zombie loans will prove what the new teams salt. It looks like the new members of the team have lots to do but hopefully they will make progress, we will have to see!
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