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Post by dan1 on Sept 13, 2019 8:57:00 GMT
From 4th Way... Perhaps the new management could approach 4th Way to determine what additional information they require? It may also act as an impetus for 4th Way to publish an updated review. |
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Post by scores on Sept 13, 2019 20:39:39 GMT
A BS repetitive,non-informative update is a BS repetitive, non informative update,no matter who it is written by..This bunch are just carrying on from the rest,with the slight addition of giving us more BS more often but still with no results of repayments..
I would like to see some of these borrowers taken to the cleaners..Many of them have never had any intention of ever paying back these loans. And they have always known that the chances of a weak platform like FS ever persuing them under a PG has always been very unlikely.
When this new group took over to sort this mess out,I had 84 overdue loans,most of which were way over a year late..Now all these months later I still have 84 overdue loans...
No doubt before any of them (if any) pay back,we will all have to listen to a bucket load more of BS.
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rocky1
Member of DD Central
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Post by rocky1 on Sept 14, 2019 4:31:14 GMT
more updates alright 5 emails Friday evening as FS are locking up for the weekend.these loans are now unredeamed this does not mean you have lost money and will continue to accrue interest.who are they bloody kidding.over 50 loans now defaulted with the few active ones well overdue.over 12k accrued interest to date between main and ifisa so we are ok then. this place is getting more like lendy every week. what is the real state of the loan book at the moment in plain English and not your fin tech jargon for basically we are going to lose millions of your money due to previous management.
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arby
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Post by arby on Sept 14, 2019 7:33:40 GMT
He's not lying. For all their faults you can view every past/active loan on FS books once you're logged in. Not always clear which loans are linked or previous/new tranches however!Ah ok, so hardly " ...transparent and in depth analysis of the loan book" then is it!? I would also say that loans that are being artificially kept 'active' even though they should be so clearly defaulted is dishonest and disingenuous.... to say the absolute least!! Every loan since the dawn of FS is visible. I then said this allows in depth analysis, not that this in depth analysis is provided to us on a plate. In my analysis I pay zero attention to whether a loan has an unredeemed flag on it, as everyone who does their own analysis does; the only important thing is the days overdue and the recovery assumption you apply.
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adrian77
Member of DD Central
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Post by adrian77 on Sept 14, 2019 14:16:53 GMT
And that is exactly what I underestimated before I invested with FS. Clearly there are, what I call, professional bankrupts and chancers and they have tried it on with all the p2p companies. It looks to me that on some occasions e.g. B****wick FS (for whatever reason) been very obliging in order to get the business; the hard-nosed lender has sussed them out and wallop!
If we take some of the property loans - the money to develop seems to have gone and what are FS left with - a vastly overvalued and unfinished development held by a bankrupt company - brilliant.
As I said I think whether FS takes a 100% loss on the art loans will be pivotal to their future -just my opinion.
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