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Post by captainconfident on Jan 14, 2014 10:32:11 GMT
First time in my long memory that FC has had a complete non-starter. Today 14.01.14 is the day of the third 'late' from a 100k loan. Not a single payment, just the lame story: Resubmitted direct debit. Chasing! Established contact! confirmed making payment!  Advised makde payment  (nothing) (for weeks)  Broker is visiting company to see what's going on........News! They have sent all the money on pies, but like Billy Bunter, they are expecting a postal order from Aunt Meg!.............. We are continuing to chase the borrower.... Which was the last report, weeks ago. |
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Jan 14, 2014 10:59:16 GMT
I must have avoided this one for some reason. How strange that there is no discussion on the official FC forum. I wonder if they have moderated it out.  |
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Post by phlitb on Jan 14, 2014 11:52:59 GMT
I often overbid on loans to get close to the best available rate above my minimum without having to bid through the last seconds of every auction. I then sell the remainder which also helps nudge my overall returns up to something just about worthwhile.
Alas I didn't manage to flog my spare parts on these before they missed the first payment and so am badly exposed.
Like many here I'm less than overwhelmed with confidence at FC's handling of missed payments and defaults and if this loan goes south I will be looking to exit FC sooner rather than later.
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Jan 14, 2014 12:05:22 GMT
I must have avoided this one for some reason. How strange that there is no discussion on the official FC forum. I wonder if they have moderated it out. You could be right about moderation. however it is more likely to have fallen foul of an alleged bug in the FC system which is known as "The Adverse Criticism Bug" this just send the whole posting into cyberspace without leaving any trace! My posts have fallen foul of this bug on several occasions so I just don't post there anymore!
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markr
Member of DD Central
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Post by markr on Jan 14, 2014 12:10:56 GMT
First time in my long memory that FC has had a complete non-starter. Surely your memory is long enough to remember S**t H**se??
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Post by captainconfident on Jan 14, 2014 12:34:15 GMT
Nope, S*** H**** made one repayment*
Edit
*Hooray.
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Post by bracknellboy on Jan 14, 2014 12:49:00 GMT
.....I will be looking to exit FC sooner rather than later. Minus the loan parts which are locked in unsaleable.....
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Post by bracknellboy on Jan 14, 2014 12:52:26 GMT
Out of interest, what was the credit band on this one ?
P.S. Not a bad use of ***'s Capt. Good to see the return of carefully and appropriately chosen name redaction. Still not up to the standard of a certain flooring wholesaler, but coming close to it.
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Post by chielamangus on Jan 14, 2014 13:11:50 GMT
Can anyone tell me how one can get original details on these loan applications? I didn't bid on this one - "successfully" anyway - but I would like to go back to it and discover why I didn't. Was I perceptive, too late or maybe had a holiday from FC for a week?
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Post by mrclondon on Jan 14, 2014 13:40:39 GMT
If seven days pass after a comment like "The borrower has advised us that they have made a payment." without the payment appearing, its probably best to mentally write off the entire loan. bracknellboy it was a B
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Post by bracknellboy on Jan 14, 2014 14:23:20 GMT
Can anyone tell me how one can get original details on these loan applications? I didn't bid on this one - "successfully" anyway - but I would like to go back to it and discover why I didn't. Was I perceptive, too late or maybe had a holiday from FC for a week? As far as I know, the only route to historic auctions is: a) If you hold it (obviously) b) If you add it to and have retained it in your watchlist (good reaosn for never removing anything from that) c) you can find it on the secondary market (too late if its already gone pop) otherwise, any link that someone provides to you won't work for you.
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Post by bracknellboy on Jan 14, 2014 14:29:09 GMT
Capt: I think you must be making this one up. I don't see it mentioned in FC's just sent out "Top 5 Peer to Peer Lending Stories". Surely if there really had been something as ground breaking as a loan which the borrower didn't even keep hold of enough of to make the first payment on, then this would have been sufficiently news worthy for them to include in the newsletter ??
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markr
Member of DD Central
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Post by markr on Jan 14, 2014 14:42:53 GMT
Nope, S*** H**** made one repayment* Nope, S**t H**se th* n**t c*****r didn't make any. It's still lurking in my rogues gallery showing my £40.00 exposure and "defaulted" for all the payments. Although, since FC gave us our money back my exposure is really nothing; this is still my single biggest "recovery". Granted, they had a previous loan which was repaying prior to this one, so S**t H**se as a company made repayments.
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Post by chielamangus on Jan 14, 2014 17:10:17 GMT
Can anyone tell me how one can get original details on these loan applications? I didn't bid on this one - "successfully" anyway - but I would like to go back to it and discover why I didn't. Was I perceptive, too late or maybe had a holiday from FC for a week? As far as I know, the only route to historic auctions is: a) If you hold it (obviously) b) If you add it to and have retained it in your watchlist (good reaosn for never removing anything from that) c) you can find it on the secondary market (too late if its already gone pop) otherwise, any link that someone provides to you won't work for you. Thanks. Next question is: is anyone willing to copy/paste to this thread the financial page and question and answers?
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ton27
Member of DD Central
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Post by ton27 on Jan 14, 2014 18:59:14 GMT
I think you can also find (the original rating) in the "Statistics" - where all Loans are listed.
It would make it easier if you could "sort" these Loan statistics - if anyone can it would be good to know. (I am not much of a "Techie").
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Advised makde payment 
(nothing) (for weeks) 
Broker is visiting company to see what's going on........News! They have sent all the money on pies, but like Billy Bunter, they are expecting a postal order from Aunt Meg!.............. 
