scooter
Member of DD Central
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Post by scooter on May 25, 2021 21:42:53 GMT
Hi This is my first time on this thread. I have a funding circle loan which has gone into arrears as I cannot keep up with the payments due to various economic reasons. I am therefore making payment to them on my affordability. A family member has recently come into some money and they want to help me. How much to offer funding circle by means of full and final settlement. Has anyone any experience of this please. Much appreciated Maddy I can't help but think this is a joke on us lenders..... I mean, if you are genuine you are a model borrower, with scruples and manners and FC won't know what to do with a full and final offer. I do think I read somewhere that FC always pursue full settlement plus interest... I do have one loan that paid in full and they are still going after the interest. Good luck and stay true to yourself.
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
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Post by keitha on May 26, 2021 13:13:26 GMT
xeon you do realise that most of the posters here myself included are Funding Circle Lenders. As a result we are likely to say you should be paying the full amount including interest. The amount they are likely to accept would depend on a lot of things How long after taking the loan did you fall into arrears Were you open and honest when you took the loan out How much a month in terms of a percentage the outstanding amount are you repaying ( if you are paying 10% off they are unlikely to take 50%) on the other hand if you are paying ) 0.1% they might ( I personally have a loan that at current rates will repay the capital in 63 years ) is your financial situation likely to improve in the next few years.
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