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Post by oldatheist on Mar 7, 2014 16:42:08 GMT
FC seem to be moving fast on the latest firm to stop paying. L** F*** W****s Its H******s (loan 3298). 6th payment was due on 19th Feb. FC started chasing on the 25th, downgraded on the 5th March after receiving notification of creditors meeting, defaulted today.
Interesting none of the company checking sites seem to be flagging this one up yet, and you can still ring them from the police station if you happen to get arrested in Hertfordshire.
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Post by lokifluff on Mar 10, 2014 14:11:10 GMT
How fascinating. Am personally gutted - I run two FC accounts (one personal & one company) and I am holding a loan part in each account. I have been with FC now for nearly 4 years and this is my first default. Sigh... I knew my run was too good to be true & had to come to an end at some point. Fingers crossed any recoveries that might happen on it come as quickly as the news of its default. One can but hope.
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Post by yorkshireman on Mar 10, 2014 14:14:56 GMT
How fascinating. Am personally gutted - I run two FC accounts (one personal & one company) and I am holding a loan part in each account. I have been with FC now for nearly 4 years and this is my first default. Sigh... I knew my run was too good to be true & had to come to an end at some point. Fingers crossed any recoveries that might happen on it come as quickly as the news of its default. One can but hope. Don't hold your breath though!
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Post by lokifluff on Mar 10, 2014 14:17:56 GMT
I promise I won't - but thanks for the tip... ;-)
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Post by oldatheist on Mar 10, 2014 21:24:58 GMT
4 years is a good run, I've only been going for 8 months. I do have another company that has been downgraded and is also going into liquidation although in that case it is voluntary liquidation, and they are keeping up the repayments so I expect to get all of that one back.
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Post by GSV3MIaC on Mar 10, 2014 22:01:04 GMT
4 years is amazing, assuming most loans are held rather than slow-flipped. Took me only about 3 months to get my first default, albeit autobid (we were all stupid once. 8>.) bought that for me on the secondary market. Whatever brand Xtal ball is in use needs to be more widely available.... anyway "Well Done" (*hiss*).
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markr
Member of DD Central
Posts: 766 
Likes: 426
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Post by markr on Mar 11, 2014 9:09:45 GMT
It certainly is, given that FC launched in August 2010.
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Post by lokifluff on Mar 11, 2014 12:42:38 GMT
Sorry - just over two years! Feels like longer I guess... ;-) Good luck oldatheist - I hope you get it all back also. Yes GSV3MIaC - I only buy loans to hold as I don't have time to spend flipping. It is no crystal ball - I am just VERY fussy. I have, however, had some very close shaves which has been more about luck than good judgment. My loan book has been recycled once when I have had to sell a large chunk of my portfolio to use it elsewhere. I knew never to use autobid. What annoys me about this one is that I knew it was a bit of a risk but thought "it's lawyers - they would be struck off at the Law Society for anything dodgy". One of my obviously more naive moments. It wouldn't surprise me if they knew the firm was sinking but got the loan anyway given its default status at only six months into the loan. Sigh.
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Post by oldatheist on Mar 11, 2014 15:44:11 GMT
Looks like they have been naughty buys and girls and failed to pay their taxes. According to the London Gazette, HMRC have a winding up petition due in the courts early next week. Wonder how much of my £17 will be left after the taxman has had their slice of the pie?
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