Official Funding Circle Forum, Moribund or Terminally ill?

I e-mailed them on the 24th to query what on earth was going on, and why they didn't seem more bothered. I got the usual whimpy response about "... administrative processes involved ..." in setting up a direct debit, and FC "... do not anticipate any ongoing repayment issues ..." because the business "... has an excellent repayment record.".

However more interesting was the next paragraph where they noted:



Does anyone know who they have payment collection outsourced to at the moment? I don't remember seeing anything about this in the Ts&Cs. I also want to know why they don't insist on a CHAPS (or faster payments, though believe the banks don't make this available to corporate customers) payment when payments are late. That way FC should know that afternoon whether the company paid or not and not have to wait for "proof of payment". (Yes it would cost the borrower up to £25, but frankly they're late and in breach of their loan conditions.)

Tellyco comment update:-

A WACTCTB again today, so it isn't an admin cock-up. In fact it's a wactctb on a daily basis - a WACTCTBOADB.

EDIT
There is a wobbling C- Cap**** For Pain**** and Dec******* 4039, which os 'WACTBOADB with phone calls and emails'. a
WACTBOADBWPCAE.

TellyCo.

... has adsived us that they have pade a mayment. (24 Jan)

 No they haven't so why did the borrower say it? ( I can't believe that even FC have lost it)

Just see the indignation of that "agent" in Q & A when confronted with "questionable" payment policies!!!

There will be some very barbed questions when the next loan request appears; I estimate sometime in March.

I wonder what the policy is on downgrading risk bands.

[495] Portable Growling Company: "4 Feb 2014 A recovery payment has been received and distributed"

No, it hasn't.

What the heck is going on in this so-called collections dept.

At least FIVE others with promised status of "the rest of the payment by end/middle of January" and precisely nothing has arrived, with no explanation.

Funding Circle must have the slackest, most tolerant "deadlines" on the planet. Oh yes, forgot, it's not their money ... of course.

I was thinking of selling my other tellyco loan, but I am too greedy to accept 1.4% after getting used to selling at 3% and then buying a chunk of the next camera. 3014 does not pay again until 18th, so I will let it run a bit longer before following your example.

Surely this one's an easy one for FCs collection partners? They just need to ring up the day before a major sporting event and say "pay up or we'll be round in the morning to collect our kit".

I wonder if they have rented it out and whether they would be happy to give us back our cameras and lenses as excess to immediate requirements. Maybe they expect to make the repayments for each piece of kit contingent upon rental income.  You would think with all these silly reporters standing in floodwater, waves and gales at locations throughout the country that the demand for cameras would be very great. Let us hope so.