mikeb
Posts: 1,072 
Likes: 472
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Post by mikeb on Feb 12, 2014 18:38:03 GMT
There have been potential warning signs with this one that I've been receiving via company check alerts for the last few months now, such as frequent credit rating changes and most recently in the last week, a change of name. I sold out of most of mine around 6 weeks ago on the basis that they appeared to be late filing accounts. I retained a small exposure though on the basis that the loan had specific asset backing, so it will be interesting to see what happens... Interesting -- I think I've found the right company record, an SCxxxxx company number indicating Scotland registration. And I've seen the name change, diversifying into garage services it seems. But, yes, it seems I've been caught out by someone dumping their loan parts in a possibly shaky one, which with no comments and no payment problems to date, looked OK. This is not the first time that's happened, I'm sure it won't be the last. Of course, it seems to have taken a long time for FC to do the downgrade, (between the application to strike off, and 11 feb) meanwhile allowing people to dump these, giving FC a nice 0.25% on each one, before they then leave the current buyer with a questionable loan part. Again, what incentive is there to shut down sales of dodgy loan parts when you could leave it a bit and watch them all change hands one last time  Not heard any more yet from FC via comments or lender emails ... Proposed to strike company off, but "in liquidation: No". Hopefully FC will be putting a word in to say: "You can't do that, there is money owed."
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Post by GSV3MIaC on Feb 12, 2014 20:38:32 GMT
There's several new comments on this one over on the other forum.
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jimbo
Posts: 234
Likes: 42
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Post by jimbo on Feb 12, 2014 20:49:22 GMT
I wouldn't go so far to say this was/is a "known shaky one". There are all kinds of sound reasons companies change their names, and can be late filing accounts. There can also be positive reasons for credit rating changes. It costs money though to find out in which direction the credit rating change has taken place, and I've lost count of the number of times I've seen this kind of activity and nothing has ended up being amiss.
Still, for the cautious, it at least provides a heads up that something may not be well.
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jimbo
Posts: 234
Likes: 42
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Post by jimbo on Feb 19, 2014 13:07:27 GMT
Regarding Loan 1296, it looks like the strike-off action has now been cancelled. I'd post a link, but this will obviously identify the company in question. However, you can find it if you search for the company on companycheck.co.uk/ , and visit the "Documents" tab. |
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Post by elljay on Feb 19, 2014 16:18:08 GMT
Regarding Loan 1296, it looks like the strike-off action has now been cancelled. I'd post a link, but this will obviously identify the company in question. However, you can find it if you search for the company on companycheck.co.uk/ , and visit the "Documents" tab. *confused* all I can see is some change of name entries in early Feb?
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jm72
Posts: 109
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Post by jm72 on Feb 19, 2014 18:07:04 GMT
There is a thread on this loan on the 'official' forum - which states the same. FC is waiting to talk to company and then will reinstate the risk band (if I read the comment correctly on this thread)
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mikeb
Posts: 1,072
Likes: 472
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Post by mikeb on Feb 19, 2014 18:46:15 GMT
Regarding Loan 1296, it looks like the strike-off action has now been cancelled. I'd post a link, but this will obviously identify the company in question. However, you can find it if you search for the company on companycheck.co.uk/ , and visit the "Documents" tab. *confused* all I can see is some change of name entries in early Feb? Look again  There's a "GAZ01" (First notice of dissolution in the Gazette) and a "DISS40" (Cancel that dissolution) on the documents page (I didn't chip in the £4 to buy them!) Unless you're looking at a company with the same name, but HOLDINGS LTD which is the parent company, you want the SC2XXXXX subsidiary, that is now called Gar*** Ser****s Ltd.
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Post by elljay on Feb 20, 2014 7:58:11 GMT
Thanks Mike - found it! Had a look in the London Gazette but couldn't find an entry. Would you say they didn't send their accounts in on time?
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jimbo
Posts: 234
Likes: 42
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Post by jimbo on Feb 20, 2014 12:59:38 GMT
That's what it's looking like, but I've not paid to download the reinstatement document so cannot say for sure. They haven't filed accounts since 2011; this I do know...
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Post by elljay on May 16, 2014 6:41:37 GMT
Hmm, now they've had a "credit event" - sounds like a party!  |
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jimbo
Posts: 234
Likes: 42
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Post by jimbo on May 16, 2014 7:17:26 GMT
The term "Credit Event" sounds sketchy. I'm glad I took the chance to sell out of this one...
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Post by aloanatlast on May 16, 2014 7:52:54 GMT
Hmm, now they've had a "credit event" - sounds like a party! All creditors invited. Bring your own booze.
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Post by GSV3MIaC on May 16, 2014 9:14:06 GMT
And a spanner to claim your bit of truck?
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Post by GSV3MIaC on May 16, 2014 9:16:45 GMT
The term "Credit Event" sounds sketchy. I'm glad I took the chance to sell out of this one... C.f cardio-vascular event, aka heart attack?
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Post by captainconfident on May 16, 2014 11:54:30 GMT
I think I own a wing mirror, my penalty for not reading the end of this thread. Ironic as I started it.
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There's a "GAZ01" (First notice of dissolution in the Gazette) and a "DISS40" (Cancel that dissolution) on the documents page (I didn't chip in the £4 to buy them!)
