ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 13, 2015 19:39:36 GMT
Silverware - 2688836262 - sent to auction
Piano - 2576894515 - private buyer identified, pre-entered in auction
38mm Hublot - 2384067752 - no contact from borrower, default letter sent
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mikes1531
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Post by mikes1531 on Jul 14, 2015 9:43:49 GMT
Harley Davidson
02/07/2015 UPDATE
No response from the borrower. Loan has been defaulted. Currently arranging sale.
How long does it take to sell a motor bike? ?? If the 2/Jul update means that's the day they sent the official default notice to the borrower, then they have to wait a certain amount of time -- I can't remember whether it's 7 or 14 days -- before they actually can sell the security. I'm not in the motorbike loan -- what number is it? -- but the time taken to arrange a sale also may depend a bit on the LTV of the loan, as I expect that the higher it is the harder they have to work to find a buyer willing to pay enough to get the lenders -- and FS -- out of the loan successfully. They have to be fair to the borrower as well, and an auction is a pretty easy way to show that they have been, but finding an appropriate auction and waiting for it to happen can slow down the sale process a bit.
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bugs4me
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Post by bugs4me on Jul 14, 2015 13:52:40 GMT
mikes1531 - the number you require for the Harley is 1775361202
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bugs4me
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Post by bugs4me on Jul 14, 2015 13:54:57 GMT
Silverware - 2688836262 - sent to auction Piano - 2576894515 - private buyer identified, pre-entered in auction 38mm Hublot - 2384067752 - no contact from borrower, default letter sent
How long does it take to sell a motor bike???Fairly quick this time of year - but move into September and you may be struggling (on price) - although Harley owners are an enthusiastic bunch.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 16, 2015 11:24:21 GMT
2384067752 38mm Hublot - 15/7 default letter sent
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 17, 2015 10:11:17 GMT
Aerolite caravan 1st Charge 1022021471, 2nd 2630854979, 3rd 1357606196
10/7 defaulted, to be sold
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,335
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Post by ilmoro on Jul 18, 2015 9:02:31 GMT
And another one 2814925719 Print 17/7 Defaulted, arranging sale |
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Jul 27, 2015 12:10:28 GMT
Silverware - 2688836262. Not going to auction, FS have elected to purchase the items on behalf of a private buyer. Capital and interest all repaid.  Edit: My calculations show 1 extra day of interest. |
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 27, 2015 12:21:40 GMT
Hublot watch now formally defaulted, sale being arranged
Good news on silverware.
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mikes1531
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Post by mikes1531 on Jul 27, 2015 12:35:52 GMT
Silverware - 2688836262. Not going to auction, FS have elected to purchase the items on behalf of a private buyer. Capital and interest all repaid. No doubt this is me just being overly cynical but, since the items already had been sent to the auction house, I can't help but wonder if the auctioneer looked at the items and suggested the auction results would be a loss for FS's lenders -- at which point FS decided that in light of the sum involved they'd rather take the hit themselves so as not to have their lenders take it on the chin. Avoiding losses is no doubt worth something to FS in PR value.
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alison
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Sanctuary!!
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Post by alison on Jul 27, 2015 13:30:53 GMT
Silverware - 2688836262. Not going to auction, FS have elected to purchase the items on behalf of a private buyer. Capital and interest all repaid. No doubt this is me just being overly cynical but, since the items already had been sent to the auction house, I can't help but wonder if the auctioneer looked at the items and suggested the auction results would be a loss for FS's lenders -- at which point FS decided that in light of the sum involved they'd rather take the hit themselves so as not to have their lenders take it on the chin. Avoiding losses is no doubt worth something to FS in PR value. What if........... the auctioneer told FS they were worth a fair bit more than the original valuation. FS buy the silverware at valuation, deduct our money and their fees and send the balance on to the borrower. Then FS separately sell the silverware for the higher valuation amount and keep the profit. Just a thought!!
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 27, 2015 13:55:11 GMT
No doubt this is me just being overly cynical but, since the items already had been sent to the auction house, I can't help but wonder if the auctioneer looked at the items and suggested the auction results would be a loss for FS's lenders -- at which point FS decided that in light of the sum involved they'd rather take the hit themselves so as not to have their lenders take it on the chin. Avoiding losses is no doubt worth something to FS in PR value. What if........... the auctioneer told FS they were worth a fair bit more than the original valuation. FS buy the silverware at valuation, deduct our money and their fees and send the balance on to the borrower. Then FS separately sell the silverware for the higher valuation amount and keep the profit. Just a thought!! Well barring an unexpected outbreak of glasnost on the part of FS we'll never know. In the meantime, Ive got the repaid cash ready to invest in some fine wine (if I can grab a bit) the profits of which will keep me in cheap beer. So thats all good then 
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alison
Member of DD Central
Sanctuary!!
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Post by alison on Jul 27, 2015 14:40:36 GMT
What if........... the auctioneer told FS they were worth a fair bit more than the original valuation. FS buy the silverware at valuation, deduct our money and their fees and send the balance on to the borrower. Then FS separately sell the silverware for the higher valuation amount and keep the profit. Just a thought!! Well barring an unexpected outbreak of glasnost on the part of FS we'll never know. In the meantime, Ive got the repaid cash ready to invest in some fine wine (if I can grab a bit) the profits of which will keep me in cheap beer. So thats all good then Me too but there'll be a helluva rush and we'll only make enough for half a pint!!
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jonno
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nil satis nisi optimum
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Post by jonno on Jul 27, 2015 15:35:08 GMT
Well I can't wait for the "Torpedo Sheds"  I really hope this upcoming loan doesn't get blown out of the water  |
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 27, 2015 15:43:27 GMT
Well I can't wait for the "Torpedo Sheds" I really hope this upcoming loan doesn't get blown out of the water I expect bidding on that loan to start buoyant and then sink rapidly when investigation reveals the security doesnt hold water
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