min
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Post by min on Feb 9, 2016 15:15:07 GMT
Interesting update been added. Basically the bank they owe money too wouldn't be flexible and have forced them into administration. This despite the business being profitable. Just goes to show that the banks don't learn from past mistakes (and don't seem to care). Interesting that the banks advisors are also now the administrators - nice little earner I'm sure.
Hopefully p2p businesses like FK who have been shown to be flexible and professional will continue to grow.
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oldgrumpy
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Post by oldgrumpy on Feb 9, 2016 15:37:11 GMT
Can't see it on FK. Do I need Spockshavers?
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min
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Post by min on Feb 9, 2016 16:34:16 GMT
Can't see it on FK. Do I need Spockshavers? It's in the 'debt recovery' list.
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oldgrumpy
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Post by oldgrumpy on Feb 9, 2016 17:07:53 GMT
Nope. Maybe only lenders in that loan can see it. There was an article about care homes in the Midlands in the Express and Star yesterday. Is that them? I thought I had parts of that; maybe I sold them.
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min
Member of DD Central
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Post by min on Feb 9, 2016 19:15:06 GMT
Nope. Maybe only lenders in that loan can see it. There was an article about care homes in the Midlands in the Express and Star yesterday. Is that them? I thought I had parts of that; maybe I sold them. I think if you can't see it then you don't have it. Lucky you. On the other hand I have a lot more confidence in FK getting dosh back than FC.
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daveb4
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Post by daveb4 on Feb 9, 2016 20:42:57 GMT
On right hand side of main screen there is a button that says edit autobuy. Then click on add new autobuy and that gives you a list of all loans including this one explaining an update. Hope that helps. Certainly looks as if not total right off. I am sure an easier way but that's how I found it.
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oldgrumpy
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Post by oldgrumpy on Feb 9, 2016 21:02:34 GMT
daveb4 Thank you. Buried indeed! That's the second care home to go pop on FK recently, one because the council decided to cut the rates it paid for providing the care to less than actual cost, and now one because the bank wants to get nasty (and no doubt make a profit!!) rather than negotiating a less brutal way out. I knew this name was familiar; one of the homes is very local to me. Why did I not participate? (I would have done) The whole offering occurred last September while I was floating off up the Llangollen Canal! Maybe investors should treat AC loan #194 with a certain degree of caution from now on.
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Post by captainconfident on Feb 11, 2016 20:22:27 GMT
The case of banks, a particular bank, forcing profitable firms into administration and the administrators being adjuncts of the bank has been of interest to Private Eye for some years now, and I believe that charges against such a bank are likely for what would be proposed in court to be an illegal conflict of interest.
Is that a clear sentence? I'm trying to point to a fact without getting anyone sued.
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