registerme
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Post by registerme on Apr 24, 2015 15:20:30 GMT
Interesting that the company was put into administration on the 16th but FC only just updated the loan to "No risk band" today. Is taking seven days to turn this info around reasonable? Anyway, all part of the learning experience. I guess I get to see how well FC's approach to recoveries works now (not great according to a thread lower down the page).
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fasty
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Post by fasty on Apr 24, 2015 15:48:03 GMT
Sorry to hear that. I got caught with that one too  Incidentally, might be worth edited out the company name from your post to avoid incurring the wrath of the forum admin. Usually an indirect reference like just the loan number would be OK. |
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registerme
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Post by registerme on Apr 24, 2015 15:50:04 GMT
Thanks for the tip, I edited the post.
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Post by grumbledore on Apr 24, 2015 17:25:38 GMT
Bugger, I've got that one too. Anyone remember what risk band it was? Edit: I even had that one for sale, why did no one buy it before it was downgraded  |
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registerme
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Post by registerme on Apr 24, 2015 17:45:55 GMT
It was C-.
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fasty
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Post by fasty on Apr 24, 2015 18:35:15 GMT
It fits the pattern, then: The "sell after 6 months" brigade will be rubbing their hands gleefully. Unfortunately I had decided to hang on to it "for a bit longer" as my loan parts were at 15% !
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TitoPuente
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Post by TitoPuente on Apr 26, 2015 11:11:33 GMT
Unfortunately I had decided to hang on to it "for a bit longer" as my loan parts were at 15% !
Same here. One more bit of empirical evidence supporting the correlation between early closers and higher risk. They may have been quite desperate for the funds and the gamble lasted 6 months.
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wysiati
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Post by wysiati on Apr 28, 2015 3:25:13 GMT
Not that early - it was accepted on the day the auction was scheduled to end.
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registerme
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Post by registerme on Jun 3, 2015 17:33:29 GMT
New comment today:-
"03 Jun 2015 We have agreed a repayment plan with the guarantor, and anticipate that the loan will be brought back up to date by the end of next week. The borrower's contractual repayments will continue to be made on time, however as the original company was placed into administration, the risk band for this loan will never be reinstated".
Does that mean they expect 100% repayment?
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adrianc
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Post by adrianc on Jun 3, 2015 17:45:52 GMT
It means the guarantor will be bringing it back up to date by the end of the next week, then paying all the repayments from now until it's cleared. On time, in full. So, yes, 100% capital plus all the originally planned interest.
But you're never going to be able to sell it, because they're not going to put the band back on, since the band was on the company which borrowed - and that's gone south.
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registerme
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Post by registerme on Jun 3, 2015 19:27:54 GMT
Thanks Adrian. Given the interest rate I got on that, if it actually pans out the way you described I'll be perfectly happy with it! If I got that kind of a rate guaranteed up front I'd buy and hold every time.
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adrianc
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Post by adrianc on Jun 3, 2015 20:57:48 GMT
...if it actually pans out... If I got that kind of a rate guaranteed up front... And therein lies the potential for problems... Something cliched about death and taxes goes here.
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registerme
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Post by registerme on Jun 3, 2015 23:42:46 GMT
Indeed.
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Incidentally, might be worth edited out the company name from your post to avoid incurring the wrath of the forum admin. Usually an indirect reference like just the loan number would be OK.
