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Post by blackdog on Nov 6, 2019 22:09:52 GMT
Yet another high value loan waiting in the wings .....
Should have repaid on 30/10/2019
Update by fs ob 12/09/2019
We have been in contact with the borrower throughout this loan term. The borrower is on track to redeem on or before the loan end date. We have provided a redemption statement for the end of the loan term and we will keep investors updated throughout this process.
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petrichory
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Post by petrichory on Nov 6, 2019 22:25:59 GMT
Yet another high value loan waiting in the wings ..... Should have repaid on 30/10/2019 Update by fs ob 12/09/2019 We have been in contact with the borrower throughout this loan term. The borrower is on track to redeem on or before the loan end date. We have provided a redemption statement for the end of the loan term and we will keep investors updated throughout this process. You do realise that Funding(In)Secure was trading while insolvent, went bankrupt and took all our money down with it, right?
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adrian77
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Post by adrian77 on Nov 6, 2019 22:41:13 GMT
if they did they not only is that disgusting I think trading when insolvent is illegal - are you saying they may have had the interest repaid for this loan and then trousered it!
Well the answer to that one will be interesting - surely if true then this is theft pure and simple but we have to know all the facts before we blow a gasket!
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Post by mrclondon on Nov 6, 2019 22:41:53 GMT
blackdog - as has been pointed out FS went into administration on 23rd October, so further updates on loan webpages may not happen.
if you are refering to 2223857946 then a refinance is unlikely to be imminent as I'm monitoring the LR title for the security and there has been no activity thus far.
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petrichory
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Post by petrichory on Nov 6, 2019 22:50:01 GMT
This was in my letter to the FOS from the 17th of October:
"We made our initial complaint to the ombudsman in May - our registered letter was delivered on the 7th of May - so I trust that there have been some developments in this case in the past five months.
The fraudulent business I am complaining about is trading while insolvent so I would appreciate a verdict sooner rather than later."
Of course, by the 15th the majority of people at FS had already resigned so perhaps it was not as prescient as I would like to believe.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Nov 6, 2019 22:57:34 GMT
Do you have any evidence to support that they were trading while insolvent? Or did they become insolvent when the directors decided to cease supporting the company with funds & appointed administrators as a result?
I note admin were engaged from 15th even if formal appointment had to wait for FCA approval.
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