Funding Circle defends sale of bad loans to US hedge fund.

morris
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Funding Circle defends sale of bad loans to US hedge fund. Dec 8, 2020 9:32:18 GMT

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Post by morris on Dec 8, 2020 9:32:18 GMT

MP Kevin Hollinrake, co-chairman of the All Party Parliamentary Group on Fair Business Banking, described the proposal as “very worrying” in a collections context.

www.p2pfinancenews.co.uk/2020/12/07/funding-circle-defends-sale-of-bad-loans-to-us-hedge-fund/

I wonder if this sale is for the benefit of investors or FC.

Last Edit: Dec 8, 2020 10:36:09 GMT by morris

keitha Member of DD Central 2024, hopefully the year I get out of P2P Posts: 3,864 Likes: 2,305	Funding Circle defends sale of bad loans to US hedge fund. Dec 8, 2020 21:59:43 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by keitha on Dec 8, 2020 21:59:43 GMT Wont be to the benefit of us the small investors as these companies tend to buy at pennies in the pound

ashtondav Member of DD Central Posts: 1,805 Likes: 1,087	Funding Circle defends sale of bad loans to US hedge fund. Dec 9, 2020 9:31:43 GMT cb25 likes this Quote Select Post Deselect Post Link to Post Back to Top Post by ashtondav on Dec 9, 2020 9:31:43 GMT Zopa have been doing this (but not to hedgies) for years. Can’t see what the problem is - especially if you’re an FC lender.
	Trapped in the slimeball that is AssetzCapital. May they suffer for eternity…

shanghaiscouse

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Funding Circle defends sale of bad loans to US hedge fund. Dec 11, 2020 11:51:54 GMT

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Post by shanghaiscouse on Dec 11, 2020 11:51:54 GMT

Its a "tiny" amount of loans because they are already written down to zero! The original gross amount could be very large. Big cap hedge funds have no interest in buying tiny things, they need to deploy big chunks of capital.

Funding Circle defends sale of bad loans to US hedge fund.

Post by morris on Dec 8, 2020 9:32:18 GMT

Post by keitha on Dec 8, 2020 21:59:43 GMT

Post by ashtondav on Dec 9, 2020 9:31:43 GMT

Post by shanghaiscouse on Dec 11, 2020 11:51:54 GMT