scooter
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Post by scooter on Mar 5, 2024 20:36:39 GMT
They have bought back my portfolio with interest.
They will not answer my questions now. If anyone wants to use any of the information I have posted on here to push for answers please do.
To reiterate, I have sent everything to the FCA and the information is with the team that oversee Kuflink.
Please feel free to contact me if I can help.
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Post by Badly Drawn Stickman on Mar 5, 2024 20:53:32 GMT
They have bought back my portfolio with interest. They will not answer my questions now. If anyone wants to use any of the information I have posted on here to push for answers please do. To reiterate, I have sent everything to the FCA and the information is with the team that oversee Kuflink. Please feel free to contact me if I can help. I suspect the 'black box' is the thing that has actually taken over your loans. Still interesting that they would do that, seems to suggest they may be adverse to close scrutiny. Also the daily emails pushing the loans is becoming a 'Lung ta' of red flags.....
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Post by scepticalinvestor on Mar 6, 2024 7:21:43 GMT
They have bought back my portfolio with interest. They will not answer my questions now. If anyone wants to use any of the information I have posted on here to push for answers please do. To reiterate, I have sent everything to the FCA and the information is with the team that oversee Kuflink. Please feel free to contact me if I can help. Does that mean you're out of KF or just on particular loans? Great result though! I worry about what it signals for my loans.... And I assume that brings your complaint (currently with the FOS) to an end as well?
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jnm21
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Post by jnm21 on Mar 6, 2024 8:14:22 GMT
I would say that the complaint should still proceed - scooter has done an admirable job & more than deserves the outcome afforded thus far - further financial compensation for the considerable time spent raising the issues would be applauded loudly by me, just like each thread exposing the apparent shortcomings has been! 👍 Just like sensible responses here from Kuflink would be. I was catching up on new posts & did not realise one was a reply to a very old thread - I saw a Kuflink reply & nearly fell off my seat!
I have to wonder if that 'black box' that bought the portfolio (which I would assume to be all loans owned, not just those exposed, if not the same) could be either
The marketing budget 😂
Or an auto invest product? 😱
Well done scooter, both for getting this result of sorts, plus not being bought off from offering to help others not as fortunate. 👏👏👏
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Post by scepticalinvestor on Mar 6, 2024 8:57:21 GMT
I would say that the complaint should still proceed - scooter has done an admirable job & more than deserves the outcome afforded thus far - further financial compensation for the considerable time spent raising the issues would be applauded loudly by me, just like each thread exposing the apparent shortcomings has been! 👍 Just like sensible responses here from Kuflink would be. I was catching up on new posts & did not realise one was a reply to a very old thread - I saw a Kuflink reply & nearly fell off my seat! I have to wonder if that 'black box' that bought the portfolio (which I would assume to be all loans owned, not just those exposed, if not the same) could be either The marketing budget 😂 Or an auto invest product? 😱 Well done scooter, both for getting this result of sorts, plus not being bought off from offering to help others not as fortunate. 👏👏👏 Absolutely agree, well done! My (admittedly uninformed) guess would be the auto invest product that they've been pushing hard recently....
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scooter
Member of DD Central
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Post by scooter on Mar 6, 2024 8:58:48 GMT
They have bought back my portfolio with interest. They will not answer my questions now. If anyone wants to use any of the information I have posted on here to push for answers please do. To reiterate, I have sent everything to the FCA and the information is with the team that oversee Kuflink. Please feel free to contact me if I can help. Does that mean you're out of KF or just on particular loans? Great result though! I worry about what it signals for my loans.... And I assume that brings your complaint (currently with the FOS) to an end as well? Hi, I had sold all the loans i could. They bought everything else, about 20 in total. I have £0.58p left. I never got to complain to the FO because I never got a final response. I sent everything that i found to the FCA. They will do what they do.... but they don't keep people informed of progress.
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benaj
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Post by benaj on Mar 6, 2024 9:29:40 GMT
Wow, you must hold something “special” that the FCA willing to take you onboard and achieve what you wanted to do with K. Well done.
My past experience with FCA was time-wasting. I wonder how I could have done it differently.
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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 Mar 6, 2024 9:44:45 GMT
Wow, you must hold something “special” that the FCA willing to take you onboard and achieve what you wanted to do with K. Well done. My past experience with FCA was time-wasting. I wonder how I could have done it differently. Not sure the FCA have taken him onboard, more like Kuf has thrown him overboard for rocking the boat too much. I vaguely recall hearing that another platform did that previously with at least one forumite ... cant remember who or which.
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rocky1
Member of DD Central
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Post by rocky1 on Mar 6, 2024 10:20:26 GMT
maybe time for narinder to give a few comments about what is going on here at kuflink and stop the boat from rocking to much. all this mistrust cannot be good for platform or lenders especially.more openness and sort out this default interest and make things clearer and fairer to the people who brought them to where they are today. dont hear much off them on here these days.
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Post by scepticalinvestor on Mar 6, 2024 10:25:40 GMT
Does that mean you're out of KF or just on particular loans? Great result though! I worry about what it signals for my loans.... And I assume that brings your complaint (currently with the FOS) to an end as well? Hi, I had sold all the loans i could. They bought everything else, about 20 in total. I have £0.58p left. I never got to complain to the FO because I never got a final response. I sent everything that i found to the FCA. They will do what they do.... but they don't keep people informed of progress. I’m glad for you and thanks for all your work and persistence digging into the various KUF loans that you’ve mentioned on the forum.
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iRobot
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Post by iRobot on Mar 6, 2024 11:53:11 GMT
They have bought back my portfolio with interest. Hi, I had sold all the loans i could. They bought everything else, about 20 in total. I have £0.58p left. - obviously no obligation here, but are you able to share the approximate size of the 'buy-back'; are we talking tens or hundreds or thousands of pounds? (Or a higher order of magnitude?) I'm curious as to what KUF might consider to be ' not worth the hassle' in monetary terms. As I say, absolutely no obligation although any further insights would be appreciated not only by myself but also others, I'm sure.
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scooter
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Post by scooter on Mar 6, 2024 12:50:49 GMT
They have bought back my portfolio with interest. Hi, I had sold all the loans i could. They bought everything else, about 20 in total. I have £0.58p left. - obviously no obligation here, but are you able to share the approximate size of the 'buy-back'; are we talking tens or hundreds or thousands of pounds? (Or a higher order of magnitude?) I'm curious as to what KUF might consider to be ' not worth the hassle' in monetary terms. As I say, absolutely no obligation although any further insights would be appreciated not only by myself but also others, I'm sure. You are right, i was not worth the bother for them. About £5k unsellable. They did not ask me to stop commenting on here or never tell that they paid me off. It was not even done as a "good will gesture". My only regret is to start something and not get the answers we all deserved. I suspect they are buying themselves some time by not having to respond for the FO. Even if the FCA investigate properly, it will take time and be done privately.
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scooter
Member of DD Central
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Post by scooter on Mar 6, 2024 14:45:36 GMT
Wow, you must hold something “special” that the FCA willing to take you onboard and achieve what you wanted to do with K. Well done. My past experience with FCA was time-wasting. I wonder how I could have done it differently. Not sure the FCA have taken him onboard, more like Kuf has thrown him overboard for rocking the boat too much. I vaguely recall hearing that another platform did that previously with at least one forumite ... cant remember who or which. I have been paid off by Crowd2fund in the distant past. That started the same way. They stopped updating investors and when they did it didn't make sense, so i investigated more. The FCA just have an online form to fill in and attach "evidence" to. It's not hard, just frustrating as you don't know what happens next, if anything. The FOS will only compensate you for "stress" unless you make actual losses. I feared if or when that happened it will be too late to claim. I can take losses on the chin, but no one should disrespect my money and choice to invest with them by lying, avoiding scrutiny or by putting my interests last.
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jnm21
Posts: 441
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Post by jnm21 on Mar 6, 2024 22:26:31 GMT
maybe time for narinder to give a few comments about what is going on here at kuflink and stop the boat from rocking to much. all this mistrust cannot be good for platform or lenders especially.more openness and sort out this default interest and make things clearer and fairer to the people who brought them to where they are today. dont hear much off them on here these days. Not sure if you were more than a little tongue in cheek there. I wouldn't believe it if he confirmed the sun will rise tomorrow, but then again always game for a laugh!
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Post by scepticalinvestor on Mar 7, 2024 7:22:15 GMT
From experience across various platforms, P2P operators have turned out to be a bit like used car salesmen - peddling shiny lemons that the seller knows everything about and the buyer very little.
Add on a third-party warranty that's as useful as the "regulated by the FCA" label or provisions funds.
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