News on the (in)famous FF deal.

Hi sebtomato, I think you will find the more sensitive info you seek on the AC Private board, just follow the details in the Sub-boards section above the AC threads.

Emphatically not. 

Quite possibly there are many newer members of this forum who are unaware of its history.  You could start by reading posts dated november 2013 in this board  p2pindependentforum.com/board/1/forum-feedback?page=2

In a nutshell, AC created this forum and promptly handed it over to an independent moderating team when a previous "independent" forum had the rug pulled from under it by another well known platform.

The separate private board allows open discussion amongst AC lenders and AC with out fear of favour, and given that it is not subject to general access and hidden from search engines with a reduced risk of legal action against the moderators of the forum. Without the privacy offered by the private board the only other option would be to ban all discussion whatsoever when things become heated, or ban members who insist on discussing contentious subjects (as happened with the crappy scrappy) so what we have is a least worst compromise.

The nature of the brief 'relationship' to AC is covered by other posters so I won't repeat. But for clarity: a) board admin are and always have been completely independent of AC or any other platform  b) treat ALL platforms equally c) treat all posts / topics on their own merit.

i think a perusal of the boards will show that there is no policy per se of preventing highlightinh / discussion of bad loans.

Personally I do however recognise that there has been a side effect to establishing the 'AC Lender only' area. Namely that it is more likely that any discussion/highlighting of such is now more likely to happen in that area rather than even any mention in the pure public area. Whether that could lead to a 'skewed' view of relative merits of different platforms is a separate issue. But any such judgement should really be based on overall default and recovery rates etc etc not on the number of instances of 'point loan' discussions on a forum.

As an example the number of FC defaulted loans which get mentioned discussed here will be but a fraction of the actual numbers (if for no other reason than FC will never respond / contribute). On the other hand probably ALL AC problem loans will be brought up on the board precisely because AC do respond / contribute. 

You are unlikely to get any information about any default loan on any platform unless you have a piece of the action.

I was a fairly new lender on AC when FF got into trouble, I didn't have an investment in FF, so I didn't know what action was being taken. The pink board was created to discuss the default of FF, so I registered with Proboards and got access to the Pink board through AC. If it wasn't for the Pink board I would still be a guest on Proboards.

Even though I got sight of all the FF posts, I have little understanding of exactly what action was taken and what lenders voted for.

I've started buying £1 of every loan I don't want to invest in, just so that next time I am kept fully informed.

The info is all on the platform either in the updates or q&a for all AC investors to see whether invested or not. What wasnt was personal opinions on various aspects of the default & recovery actions which were only relevant to those invested, but even these could be accessed by all lenders if so desired.


Edit: bit od cross post their with mike, distracted by football