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Post by wiseclerk on Mar 12, 2020 11:10:19 GMT
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benaj
Member of DD Central
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Post by benaj on Mar 12, 2020 11:15:26 GMT
What would happen to those loans I wonder, 25 people to run the operation overseas, and possibility of even higher defaults and less recovery after closing the offices?
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Post by wiseclerk on Mar 12, 2020 11:20:21 GMT
If you are asking about "existing loans", I can say that from a retail investor perspective Funding Circle germany was long dead anyway. I don't know anybody who invested there in the past year. The head of operations of FC Germany left last year to head October's german operations instead.
All early investors (Zencap times), me included still watch what happens to some of the defaulted loans. Answer: not much, there are monthly automated status updates, but they usually only say "no progress".
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Post by shanghaiscouse on Mar 12, 2020 12:24:33 GMT
Well, based on the reasoning expressed in that article, i.e. that default rates exceeded expectations, then the UK can't be far behind in being closed down.
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Post by wiseclerk on Mar 12, 2020 12:32:37 GMT
that was my reasoning, not the explanation of FC given for the closures
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