merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Mar 3, 2014 18:43:53 GMT
Having posted extensively on this loan and got into trouble for mentioning information that could lead to the identification of the person or persons involved but I can say that the person who was prosecuted for receiving stolen goods does bear the same name as the proper name within the company title. The impression I got from the Daily Mail (who reported the case) was that the person prosecuted was the "0wner" of the business to whom FC lent our dosh.
Like many other people I am appalled that FC could have lent money to this business without doing adequate checks on the backgrounds of the people concerned in running it. A couple of weeks back it was possible to identify this business, etc. through a simple google enquiry.
Again for excellent reasons we are not allowed to specifically identify borrowers on this site.
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Post by GSV3MIaC on Mar 3, 2014 18:57:24 GMT
Yep, the Daily Mail certainly gave the impression that the convicted person was owner or operator or main man or something, although I suppose it could have been junior no-good son, cousin, or whatever; the Daily Mail is not noted for deadly reporting accuracy, beyond the Garfield cartoon strip that is.
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blender
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Post by blender on Mar 3, 2014 22:43:22 GMT
Oh I see. In most areas of business, naming your company after someone well known locally to have a criminal conviction in that trade is usually considered bad for business. In the world of scrap metal it is obviously different. I am waiting for an application from a scrap metal dealer who wishes to ride out a business crisis caused by the ban on paying cash with no questions asked. Come to think of it I probably already hold some.
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wysiati
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Post by wysiati on Mar 4, 2014 11:00:19 GMT
Having reddit, for someone who does not hold it but is concerned about who FC gives loans to - how is the person in question connected to this company and loan, if not a director? Not named on the filed accounts? From FC's statement everyone looks clean - so how is criminality connected with this loan? Another (admittedly much smaller) CCJ from 24/02/14 has just appeared for this one.
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oldgrumpy
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Post by oldgrumpy on Mar 4, 2014 11:09:21 GMT
I wonder if FC's (= our) claim on repayment is now put as subordinate to all CCJs which have been served. While FC have been "understanding" of poor Mr E's problems, other creditors having been more pro-active in their "chasing" for payment.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on Mar 4, 2014 12:10:21 GMT
I wonder if FC's (= our) claim on repayment is now put as subordinate to all CCJs which have been served. While FC have been "understanding" of poor Mr E's problems, other creditors having been more pro-active in their "chasing" for payment. Could even be of course that Mr E's CCJ's have been paid off (if they have but I doubt it) with money received from FC, as you rightly state is our money. If anything remotely like this has occurred then I am fairly certain we the lenders have a good case against FC for obtaining our money by false pretences and should be fully recompensed accordingly. All in agreement say Aye?
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mikeb
Posts: 1,072
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Post by mikeb on Mar 4, 2014 13:40:00 GMT
other creditors having been more pro-active in their "chasing" for payment. Same as it ever was ... "Another creditor has now put the boot in and partly sunk the company, so we''ll just hang here and see what happens". The trouble is, the "wait and see" approach does get trumped by the take-no-bull creditors that go straight for enforcement. Stuff the sob stories and repeated failed promises, we've all seen the pattern plenty of times, and suddenly money appears when action is happening. Not imminent. Not threatened. Not talked about. HAPPENING. And when that action ends up coming from someone OTHER than FC, it's really annoying. All this "we take each on a case by case basis to ensure maximum faffing about and loss of assets before giving up" hasn't really been helping.
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oldgrumpy
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Post by oldgrumpy on Mar 5, 2014 16:07:42 GMT
FC have told them all off again and said if they don't behave they will be taken to court....
Next week.
So that's all right, then.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
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Post by merlin on Mar 5, 2014 22:54:48 GMT
FC have told them all off again and said if they don't behave they will be taken to court.... Next week. So that's all right, then. Was it an illusion or did I for one fleeting moment see the glint of sharp white teeth, accompanied by a muffled grown?
06/03/14 10.15 pm
Just a though! The new FCA regulation comes into effect today and all P2P providers at the moment only have a provisional licence to operate so perhaps the white teeth and the growl came from the FCA? If it is the case we could see a rash of defaulters suddenly getting CC papers from FC demanding their money or visceral parts.
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markr
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Post by markr on Mar 6, 2014 11:02:41 GMT
Shall dump them for gross inefficiency tomorrow.  Woah, not so fast, sonny Jim, it seems they aren't going to let us dump them unless the nice law man pays up in March as well. In case you hadn't noticed, grumps, this loan is dumpable again.
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wysiati
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Post by wysiati on Mar 6, 2014 16:23:28 GMT
Rather than coming into force today I that think the rules will take effect from 01 April 2014.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
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Post by merlin on Mar 10, 2014 16:42:42 GMT
Just trying to give a little hope to the oppressed and downtrodden. However you are right. All they actually did was publish intention and an indication of their code of practise with implementation on the 1st April.
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wysiati
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Post by wysiati on Mar 21, 2014 13:42:18 GMT
Looking at the notes on loan # 3032 it seems that FC has again been less than forthcoming with all the details. For example, 11/12/13 lenders were notified to expect payments to restart in January; what FC has not disclosed is the c.£72k CCJ dated 02/12/13 (I can't believe that they are totally ignorant of its existence). Rather like the C***s B****r L*******k Ltd loan # 1328 also referred to in the rebuildingsociety thread here and on the FC official forum FC appears to have been content to just be fobbed off while other creditors make their moves. Another twist or two in the saga of FC loan 3032 E**n M****s R*******g L*d. A winding up petition appeared in the London Gazette on 19th March but the petitioner is not FC! On top of that there has been yet another CCJ for c£44k, making for a total of £121k in judgements listed against the borrower since the start of December 2013. It is frustrating for lenders to repeatedly be suffering 'last mover disadvantage' due to FC's handling of these situations. What odds personal bankruptcy if FC is again forced to rely upon the PG?
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oldgrumpy
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Post by oldgrumpy on Mar 26, 2014 13:41:18 GMT
Quite right, Grumps.... (oh! that's me! Hi!)  Still looking at Top Tier Law so called A risk (4325) , first payment 33 days late, second payment now three days late - FC said on 13 Feb the recoveries process would be escalated on Monday 17 Feb - since then... nothing! Solicitors! Since late last year FC's loan listings very suddenly increased from 20-40 at a time to 80-100 at a time. Does such an abrupt change mean loans refused by another entity are being passed on to FC? Mmmm! edit:The borrower assures us he will pay by next Tuesday......oh, well that's all right then...Crappy Scrappy says he'll pay next week ... thrills all round  Extra tea!!! Top Tier Law Waller has payed up. Shall dump them for gross inefficiency tomorrow. Top Tier etc etc 4325 has failed to pay his two instalments again....and again refuses to respond to FC's calls. FC look like they might get tough with this lawyer this time. Bottom Tier Sore Bumpany! A rated!! Further more... 
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wysiati
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Post by wysiati on Mar 31, 2014 13:22:44 GMT
Looking at the notes on loan # 3032 it seems that FC has again been less than forthcoming with all the details. For example, 11/12/13 lenders were notified to expect payments to restart in January; what FC has not disclosed is the c.£72k CCJ dated 02/12/13 (I can't believe that they are totally ignorant of its existence). Rather like the C***s B****r L*******k Ltd loan # 1328 also referred to in the rebuildingsociety thread here and on the FC official forum FC appears to have been content to just be fobbed off while other creditors make their moves. Another twist or two in the saga of FC loan 3032 E**n M****s R*******g L*d. A winding up petition appeared in the London Gazette on 19th March but the petitioner is not FC! On top of that there has been yet another CCJ for c£44k, making for a total of £121k in judgements listed against the borrower since the start of December 2013. It is frustrating for lenders to repeatedly be suffering 'last mover disadvantage' due to FC's handling of these situations. What odds personal bankruptcy if FC is again forced to rely upon the PG? Meeting of Creditors announced.
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