merlin
Minor shareholder in Assetz and many other companies.
Posts: 902 
Likes: 302
|
Post by merlin on Jan 16, 2014 20:47:49 GMT
I have been rather busy for the last month and have not had time to waste looking at the official FC Forum but today I did. What a shock very little going on, except lots of grips about the handling of a defunct solicitors loan, 1558 if I remember correctly.
Some time back I put a thread up on here entitled Pyrrhic Victory following FC's acquisition of the previous "Independent FC Forum" and the consequential advent of this Forum. In that post I had postulated that perhaps someone at FC should get fired over what we the users felt was a totally crass move which ultimately could only end in tears for FC. I for one will not miss it if it dies or lumbers on sick for a while. IMO it will get what it deserves for the way that it moderated out well intentioned criticism and sent sensible questions into cyberspace, oblivion!
|
|
|
|
Post by captainconfident on Jan 16, 2014 22:00:14 GMT
It would surely be better all round for discussions to take place on a single board rather than split over two forums (fora?).
|
|
|
|
Post by yorkshireman on Jan 16, 2014 22:14:27 GMT
I have been rather busy for the last month and have not had time to waste looking at the official FC Forum but today I did. What a shock very little going on, except lots of grips about the handling of a defunct solicitors loan, 1558 if I remember correctly.
Some time back I put a thread up on here entitled Pyrrhic Victory following FC's acquisition of the previous "Independent FC Forum" and the consequential advent of this Forum. In that post I had postulated that perhaps someone at FC should get fired over what we the users felt was a totally crass move which ultimately could only end in tears for FC. I for one will not miss it if it dies or lumbers on sick for a while. IMO it will get what it deserves for the way that it moderated out well intentioned criticism and sent sensible questions into cyberspace, oblivion! I’m not surprised that there are lots of gripes about loan 1558 as it is a disgrace.
The solicitor went into liquidation after one payment, which could pose questions about FC’s own due diligence (am I allowed to say that Mods?) and lenders won’t get a bean.
|
|
|
|
Post by bracknellboy on Jan 16, 2014 22:18:59 GMT
<snip>
The solicitor went into liquidation after one payment, which could pose questions about FC’s own due diligence (am I allowed to say that Mods?) and lenders won’t get a bean.
Fine by me: if a borrower goes pop one payment into a loan then it certainly could (would) pose questions about prior due diligence. Esp. with something like a solicitors: far less likely to be impacted by a complete unforeseen event such as a single major customer unexpectedly walking away or themselves going bust.
|
|
|
|
Post by mrclondon on Jan 16, 2014 22:20:30 GMT
I was pondering exactly the same question at the weekend so decided to start keeping a weekly record of the thread/post count on the FC Official Forum and the FC board here.
As a taster since this time on Sunday evening (so 4 days ago)
FC Official Forum: 3 new threads and 23 posts
FC Board here: 5 new threads and 58 posts
so running roughly 2:1
|
|
|
|
Post by mead187 on Jan 16, 2014 22:39:52 GMT
Definition of Forum: a meeting or medium where ideas and views on a particular issue can be exchanged. There's some kind of Irony that FC can call it's Forum a Forum, Idea's and Views are best exchanged in an open environment hence why we're over here debating, learning and talking Bananas. In another month from now that ratio will be 3:1. Hopefully we won't make resident mods here as busy as over there  |
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Jan 16, 2014 23:09:41 GMT
Has anyone else noticed how many solicitors ask for loans on FC, and how FEW are given A or A+ risk bands? The current two are a B and a C-, and I currently have a solicitors whose payment is 21 days late but who now says they are making "a manual payment". They are an A!
|
|
|
|
Post by captainconfident on Jan 16, 2014 23:54:48 GMT
Hopefully we won't make resident mods here as busy as over there That made me laugh! My first introduction to default was Solicitors Practice Gro*** L*** 123, which managed 11 payments. oldgrumpy raises a good point, are solicitors practices inherently unstable as limited companies? I probably misunderstood, but I read (old forum) that accountancy practices were unable for some reason or other to default without dire consequences, but can solicitors practices easily dissolve and reform?
|
|
pikestaff
Member of DD Central
Posts: 2,190
Likes: 1,546
Member is Online
|
Post by pikestaff on Jan 17, 2014 0:04:26 GMT
I don't know. But I do know that small firms of solicitors are having a hard time at the moment, so it's no surprise that many are folding.
|
|
|
|
Post by captainconfident on Jan 17, 2014 0:55:05 GMT
Solicitiors, that's one thing. But what would be most useful at the moment would be if you had any insight to the current market prospects of scaffolding companies.
|
|
|
|
Post by granps on Jan 17, 2014 3:08:03 GMT
Has anyone else noticed how many solicitors ask for loans on FC, and how FEW are given A or A+ risk bands? The current two are a B and a C-, and I currently have a solicitors whose payment is 21 days late but who now says they are making "a manual payment". They are an A! Solicitors are constitutionally incapable of paying on time. In a previous life I wrote Expert Reports for many firms of solicitors and my secretary devoted much time to chasing late and extremely late payers. It's just the way they work.
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Jan 28, 2014 16:19:10 GMT
Has anyone else noticed how many solicitors ask for loans on FC, and how FEW are given A or A+ risk bands? The current two are a B and a C-, and I currently have a solicitors whose payment is 21 days late but who now says they are making "a manual payment". They are an A!
I've got one today Top Tier - supposedly A rated, who is so inept he is incapable of arranging his first payment despite being "chased" by FC, AND being "continued to chase" by FC. Now 11 days late. What I would like to know is what did the solicitor say to FC after the first chasing? (whatever that consisted of).
And my rhetorical question is, "is this solicitor as good at his solicitor duties as he is at borrowing money and paying it back?" 
|
|
|
|
Post by GSV3MIaC on Jan 28, 2014 16:59:26 GMT
Rhetorically, I bet they are =every bit as good= .. I have known one or two 'on the ball' solicitors, but the best two were ladies; the rest were were 'on the ball' only to the extent of spherical objects in a vertical direction, which they achieved regularly.
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Jan 28, 2014 18:01:47 GMT
Top Tier
Good for FC; they've gone round there pretty sharpish, and I don't think they will be pleased about this. Apparently the "top tier lawyers", having taken the cash have made no effort whatsoever to make the first payment!! Some waffle about "we're refinancing the business blah blah... may pay off one of the loans in full in the next seven days blah blah (which means they may not!!!) ". I didn't realise they hadn't made their other loan payment; I don't have a part. FC have given them 10 days before action is taken. GO FOR IT FC SHOW US YER TEETH!!!
|
|
markr
Member of DD Central
Posts: 766
Likes: 426
|
Post by markr on Jan 28, 2014 20:03:57 GMT
I currently have 4 loans (including the solicitor) that have not bothered to make their first payment and are in various stages of WA(CT)CTB. Worryingly, one of them is a serial borrower who I am exposed to in several other loans. Still, at least they are asset backed so there's something for FC to flog off to repay us - anyone want to buy some slightly used broadcast telly kit?
|
|
