blender
Member of DD Central
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Post by blender on Jan 27, 2014 11:14:36 GMT
This thread was discussing and monitoring FC's changing policy on defaulting our late loans. It seems to have descended into discussing the finer points of vulgar abuse of one lender. Not good for the forum, however well deserved it might be. How about a separate thread for the 'crappy scrappy', which is abusive enough but fits with FC's naming of loans? I'm almost disappointed that I haven't got any Crappy Scrappy. I can't join in! Bugger off and start your own thread! Yes, I have no crappy scrappy but I have other  , CC. Having just seen the post on the other site by sl75, whose views are often and coincidentally close to what FC's might be, I have to agree with you and say please use this thread as much as you wish and I will start another one. According to sl75 a criminal conviction and suspended sentence for handling stolen property as scrap way back in 2010/11 (an incident) is not a matter which FC would be expected to trouble the lenders with! It will be interesting to see if FC lets that stand without comment.
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Post by captainconfident on Jan 27, 2014 12:56:44 GMT
One of the best things about this forum that sl75 isn't on it.
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Post by GSV3MIaC on Jan 27, 2014 13:45:17 GMT
This thread was discussing and monitoring FC's changing policy on defaulting our late loans. It seems to have descended into discussing the finer points of vulgar abuse of one lender. Not good for the forum, however well deserved it might be. How about a separate thread for the 'crappy scrappy', which is abusive enough but fits with FC's naming of loans? Good Point. There are a small number of business failures, or business cheats on FC, but as far as I can tell a widely diversified portfolio will earn a decent return overall. Is some of the grousing because - Lenders have over committed to a particular loan - Loan traders left holding an excess of unsellable loan parts. Anyone who buys a loans intending to sell them on is effectively taking a business risk over and above the investment risk involved in building a diversified portfolio. Nope, I admit to buying twice what I needed (C-s being hard to get) and selling the other 50% real fast (to some poor blighter who shall remain nameless), reinvesting the proceeds, but I'm not moaning about my exposure or losses - I do expect some businesses to fail (be nice if A+s failed less often than C-s though). What I =don't expect= is to be lending to known crims without FC seeing fit to mention it (assuming they knew), and having FC be cheerfully strung along for many months at a time .. I think their T&Cs ought say something more like 'lying to us as to whether you have made a payment is cause for immediate loan default and foreclosure'. Seems reasonable enough to me. Maybe Shylock has the right idea after all. 8>.
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Post by GSV3MIaC on Jan 27, 2014 13:49:46 GMT
One of the best things about this forum that sl75 isn't on it. Or if they are they must have had a personality transplant. 8>. Actually I think they just like a good argument, but yeah, given that the forum posts there are usually critical of FC, that generally puts them on the 'but everything is wonderful' side of the fence.
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blender
Member of DD Central
Posts: 5,719
Likes: 4,272
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Post by blender on Jan 27, 2014 18:13:40 GMT
Good Point. There are a small number of business failures, or business cheats on FC, but as far as I can tell a widely diversified portfolio will earn a decent return overall. Is some of the grousing because - Lenders have over committed to a particular loan - Loan traders left holding an excess of unsellable loan parts. Anyone who buys a loans intending to sell them on is effectively taking a business risk over and above the investment risk involved in building a diversified portfolio. Nope, I admit to buying twice what I needed (C-s being hard to get) and selling the other 50% real fast (to some poor blighter who shall remain nameless), reinvesting the proceeds, but I'm not moaning about my exposure or losses - I do expect some businesses to fail (be nice if A+s failed less often than C-s though). What I =don't expect= is to be lending to known crims without FC seeing fit to mention it (assuming they knew), and having FC be cheerfully strung along for many months at a time .. I think their T&Cs ought say something more like 'lying to us as to whether you have made a payment is cause for immediate loan default and foreclosure'. Seems reasonable enough to me. Maybe Shylock has the right idea after all. 8>. Good to see that your posts on the other board (assuming there is only one G------C) have been left intact, including the link to the Mail report of the case. Maybe the unspent conviction was not declared to FC because they are not protecting this borrower from comment. If it was declared to FC and they chose to allow the loan application to proceed without disclosure to lenders, that would be very hard to defend. FC are not collectively stupid and that would be stupid, IMO.
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Post by elljay on Jan 27, 2014 18:33:39 GMT
One of the best things about this forum that sl75 isn't on it. Or if they are they must have had a personality transplant. 8>. Actually I think they just like a good argument, but yeah, given that the forum posts there are usually critical of FC, that generally puts them on the 'but everything is wonderful' side of the fence. [mod hat on] Now now, let's not get personal please.
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maxmarengo
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Post by maxmarengo on Jan 27, 2014 19:45:59 GMT
Personally, I have a lot of respect for SL75 and I hope he gets round to joining this forum soon. The bigger the spread of input we have on this forum, the better it will be!
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, CC. Having just seen the post on the other site by sl75, whose views are often and coincidentally close to what FC's might be, I have to agree with you and say please use this thread as much as you wish and I will start another one.
