upperdeane
Member of DD Central
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Post by upperdeane on Apr 1, 2020 14:36:06 GMT
I assume its not just me ...but I've just got over 30 of these new loan messages (each one for a different loan)  " 31 Mar 2020
This loan has been downgraded as we have received notification that the direct debit has been cancelled. This means that the loan cannot be traded on the secondary market while we contact the business to establish their position and how they will repay their loan. We will update you when we have further information." |
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richv
Posts: 42 
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Post by richv on Apr 1, 2020 16:16:06 GMT
I assume its not just me ...but I've just got over 30 of these new loan messages (each one for a different loan) " 31 Mar 2020
This loan has been downgraded as we have received notification that the direct debit has been cancelled. This means that the loan cannot be traded on the secondary market while we contact the business to establish their position and how they will repay their loan. We will update you when we have further information." If you look at the defaults page on this, there seem to be a few people who have had 5% or 6% of their portfolio default in a day.
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upperdeane
Member of DD Central
Posts: 493
Likes: 245
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Post by upperdeane on Apr 2, 2020 8:36:16 GMT
Unfortunately my new downgrades are slightly higher than those, figures. Not a good sign for lenders, but not surprising in the circumstances.
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Post by kevin1841 on Apr 2, 2020 8:38:41 GMT
Yes I've had the same. 21 loans in one day.
As upperdeane said, the actual wording is: This loan has been downgraded as we have received notification that the direct debit has been cancelled. This means that the loan cannot be traded on the secondary market while we contact the business to establish their position and how they will repay their loan. We will update you when we have further information.
This is not the same as the 'defaults' thread where they are surmising that FC may be giving lenders a payment holiday.
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