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Post by Deleted on Oct 24, 2014 15:24:22 GMT
How common is it to get a yellow card on FC (next "infringement" and membership terminated)? Anyone here had one? Or am I in a club of one?
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oldgrumpy
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Post by oldgrumpy on Oct 24, 2014 15:31:37 GMT
I had an email a long time ago saying that my Q and A were too abrasive and "it had been noticed or discussed or mentioned (or something) " at board level - or something. Maybe that was a pre-yellow card card.
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Post by GSV3MIaC on Oct 24, 2014 15:48:55 GMT
What provoked it? And does that mean they give you your money back??
I haven't (yet) been made this offer, despite pointing out on their forum a whole bunch of problems they'd prefer to ignore (usually they do anyway .. Poor B*cky !).
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blender
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Post by blender on Oct 24, 2014 16:30:10 GMT
Never heard of that. I am a long term diversity criminal (23% at present) but have never been warned.
I suppose that FC must regard the Borrowers as customers, quite reasonably, and do not wish the Q &A sessions to be off-putting or even intimidating. Some of the comments directed at those who decide not to answer questions are a bit unnecessary IMO. Borrowers do not have to answer questions, lenders are not forced to lend. We must not behave like a bunch of animals - Oh dear, we are a bunch of animals, except for GSV - probably.
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Post by Deleted on Oct 25, 2014 10:22:43 GMT
What provoked it? And does that mean they give you your money back?? My version and that of FC obviously differ. I asked a harmless and helpful question (as I thought) and I am accused of harrassment and annoyance. I am also accused of revealing the identity of an anonymous borrower - which I never did. I have asked about the consequences of getting a red card and await the answer. It is all a salutary reminder that this is not a co-operative or credit union we are in but a short term money-making machine. I have come to the conclusion that the question page should be ignored and that all loans should be held for a maximum of six months to reduce the default risk. The problem with this approach is that is shifts the burden of defaults to those regular guys who hold their loans to full term and to the autobidders who have been led to believe that that is the easy way to risk diversification. Rather than just shift losses from one group of lenders to another, I would prefer to make the process more transparent and efficient - an unfashionable viewpoint at FC.
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blender
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Post by blender on Oct 25, 2014 13:55:34 GMT
To give you a more serious response, Dark Horse, you are probably right that the Q&A is now of little value- other than window dressing as real p2p - though the questions can be helpful, without answers, in choosing where not to bid. Now it seems to be that any loan to which FC gives a band is to be filled, by FC if necessary, and all the Q&A can affect is the interest rate. The pitch is less useful since now the up to date management accounts are often not available - and attempts to ask for up to date figures are often moderated out. I have asked one question this year - it was removed. FC are in competition and wish to make it easy for borrowers to borrow without getting tangled with pesky lenders. I think they would now prefer to set the interest rate for the band, dispose of the Q&A, managing the borrower interface totally, and have the borrowers see it as borrowing from FC - which is effectively what happens with the property loans and probably with the whole loans.
Suppressing any meaningful questioning is probably a first step in killing off the Q&A, which is now a nuisance and cost to FC imo. At least we can discuss loans in this forum.
Holding loans for a limited period is very sensible, and FC rely on short term holders to get the property and other large loans funded - it is an integral part of the their system, not a pathology (as I used to think). It is FC's job to look after the Autobidders' returns - certainly not yours.
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Post by Deleted on Aug 11, 2015 11:52:58 GMT
To give you a more serious response, Dark Horse, you are probably right that the Q&A is now of little value- other than window dressing as real p2p - though the questions can be helpful, without answers, in choosing where not to bid. Now it seems to be that any loan to which FC gives a band is to be filled, by FC if necessary, and all the Q&A can affect is the interest rate. The pitch is less useful since now the up to date management accounts are often not available - and attempts to ask for up to date figures are often moderated out. I have asked one question this year - it was removed. FC are in competition and wish to make it easy for borrowers to borrow without getting tangled with pesky lenders. I think they would now prefer to set the interest rate for the band, dispose of the Q&A, managing the borrower interface totally, and have the borrowers see it as borrowing from FC - which is effectively what happens with the property loans and probably with the whole loans. Suppressing any meaningful questioning is probably a first step in killing off the Q&A, which is now a nuisance and cost to FC imo. At least we can discuss loans in this forum. Holding loans for a limited period is very sensible, and FC rely on short term holders to get the property and other large loans funded - it is an integral part of the their system, not a pathology (as I used to think). It is FC's job to look after the Autobidders' returns - certainly not yours. Given AC's new policy on Q&A, I wonder what your thoughts are on that? The Q&A there might say that no questions have been asked yet, but it should say x questions have been deleted because they don't suit us.
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adrianc
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Post by adrianc on Aug 11, 2015 12:28:10 GMT
My version and that of FC obviously differ. I asked a harmless and helpful question (as I thought) and I am accused of harrassment and annoyance. I am also accused of revealing the identity of an anonymous borrower - which I never did. So, c'mon then, what was the question...? And was there anything that could possibly have been construed as revealing the identity - even a hint which they clearly felt too unsubtle?
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wysiati
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Post by wysiati on Aug 11, 2015 12:31:17 GMT
What provoked it? And does that mean they give you your money back?? My version and that of FC obviously differ. I asked a harmless and helpful question (as I thought) and I am accused of harrassment and annoyance. I am also accused of revealing the identity of an anonymous borrower - which I never did. I have asked about the consequences of getting a red card and await the answer. It is all a salutary reminder that this is not a co-operative or credit union we are in but a short term money-making machine. I have come to the conclusion that the question page should be ignored and that all loans should be held for a maximum of six months to reduce the default risk. The problem with this approach is that is shifts the burden of defaults to those regular guys who hold their loans to full term and to the autobidders who have been led to believe that that is the easy way to risk diversification. Rather than just shift losses from one group of lenders to another, I would prefer to make the process more transparent and efficient - an unfashionable viewpoint at FC. FWIW I received a 'yellow card'. I don't generally participate in Q&A as there is no longer a reasonable prospect of having anything re-evaluated either by FC or by 'the crowd'. Rationally, one should be happy for rival funds to be channeled into loans one (rightly or wrongly) perceives to be potential duffers. Alternatively, blind bidding still allows a long enough widow following drawdown until the first repayment to do due diligence, or just sell. Q&A nowadays seems to be more of a forum for the self-styled but in reality 3-ego attack donkey to be able to read his/her own copy.
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Post by Deleted on Aug 11, 2015 13:56:11 GMT
My version and that of FC obviously differ. I asked a harmless and helpful question (as I thought) and I am accused of harrassment and annoyance. I am also accused of revealing the identity of an anonymous borrower - which I never did. So, c'mon then, what was the question...? And was there anything that could possibly have been construed as revealing the identity - even a hint which they clearly felt too unsubtle? That was nearly a year ago! As AC have followed suit and started to delete so many questions, I just wondered whether anyone else was affected (or even if they cared).
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adrianc
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Post by adrianc on Aug 11, 2015 13:58:47 GMT
That was nearly a year ago! So it was... A younger, more innocent time, back when FC questions had so much more purpose than today... I take it you heard nothing further?
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Post by GSV3MIaC on Aug 11, 2015 20:53:24 GMT
Q&A nowadays seems to be more of a forum for the self-styled but in reality 3-ego attack donkey to be able to read his/her own copy. Who is this attack donkey of whom you speak - I'm obviously missing out by not reading the Q&A (having adopted the buy it and sell later' DD approach).
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Post by Deleted on Aug 12, 2015 12:10:54 GMT
Q&A nowadays seems to be more of a forum for the self-styled but in reality 3-ego attack donkey to be able to read his/her own copy. Who is this attack donkey of whom you speak - I'm obviously missing out by not reading the Q&A (having adopted the buy it and sell later' DD approach). In defence of the attack dog/donkey, I have always found his questions very useful - a lot more useful than FC's evasive replies to the questions I used to ask them. "Used to" being the operative part. Have been running down the FC account as fast as i can since my yellow card but it will take another 4 years to get completely clear of those people.
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Post by Deleted on Aug 12, 2015 12:18:24 GMT
That was nearly a year ago! So it was... A younger, more innocent time, back when FC questions had so much more purpose than today... I take it you heard nothing further? I did not wait for the red card or the uncertainties of what would happen to my investments if I were banned. I just stopped asking questions and started trying to sell everything off - a slow process. Now AC appears to be following in FC's footsteps ....
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