cwah
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Post by cwah on May 30, 2019 14:03:56 GMT
what is the RCC loan?
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registerme
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Post by registerme on May 30, 2019 14:05:11 GMT
Take a look on the MoneyThing site?
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cwah
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Post by cwah on May 30, 2019 14:06:23 GMT
Take a look on the MoneyThing site? I did, all loans are suspended. And I couldn't find any loan called RCC?
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registerme
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Post by registerme on May 30, 2019 14:08:26 GMT
cwah did you read the updates on the Support page?
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cwah
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Post by cwah on May 30, 2019 14:11:33 GMT
cwah did you read the updates on the Support page? Just did. So I see what's wrong now! Thanks. Any idea why all loans are suspended and I can't withdraw £ either?
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archie
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Post by archie on May 30, 2019 14:13:13 GMT
cwah did you read the updates on the Support page? Just did. So I see what's wrong now! Thanks. Any idea why all loans are suspended and I can't withdraw £ either? Probably suspended until defaulting completes.
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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 May 30, 2019 14:17:57 GMT
cwah did you read the updates on the Support page? Just did. So I see what's wrong now! Thanks. Any idea why all loans are suspended and I can't withdraw £ either? As per the update, moving loans to default which entails repaying & reinvesting in new default loans at correct rate. Tis the way MT does it. To do it they have to lock system to prevent people doing problematic things like withdrawing non existant funds
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cwah
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Post by cwah on May 30, 2019 14:23:28 GMT
Just did. So I see what's wrong now! Thanks. Any idea why all loans are suspended and I can't withdraw £ either? As per the update, moving loans to default which entails repaying & reinvesting in new default loans at correct rate. Tis the way MT does it. To do it they have to lock system to prevent people doing problematic things like withdrawing non existant funds For a moment I thought that all my loans were suspended. Was terrifying! Another lendy!
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Post by df on May 30, 2019 14:33:16 GMT
Some worrying revelations in the updates. Not worrying enough for fundingsecure to suspend their RCC loans I see though (many of which are trading at a premium on the SM, good luck with that). I'm glad I was told (by well informed members of this forum) that all FS race car loans are to the same borrower. Sold them on the same date at small premium. It is a good comparison point. MT and FS have very different working practices. EDIT: I thought I've sold all FS cars, now discovered that I've missed part of my Porsche investment (I was in a hurry and didn't check both accounts). I just hope that this car is not missing from borrower's garage
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Forward
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Post by Forward on May 30, 2019 16:00:00 GMT
Update via FS web site
The borrower has had administrators appointed today - we are therefore defaulting all loans. We are in discussion with the administrators and will provide an update once the overall position is clearer.
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Post by sannytwist on May 30, 2019 16:16:40 GMT
Take your hard earned money back from all MT loans while you still can. I said the same thing last year.
Knew this was coming from a long shot away.
Regards, Sannytwist
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Post by funkymonkey on May 30, 2019 16:42:35 GMT
Take your hard earned money back from all MT loans while you still can. I said the same thing last year. Knew this was coming from a long shot away. Regards, Sannytwist Make sure you pm me first so I can buy all the good bits off you.... If you keep on top of the due diligence then I believe there's still a good ROI to be had
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corto
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one-syllabistic
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Post by corto on May 30, 2019 16:59:20 GMT
Take your hard earned money back from all MT loans while you still can. I said the same thing last year. Knew this was coming from a long shot away. Regards, Sannytwist Please be more specific What did you predict a year ago? What are you predicting now (and when precisely)? Thanks
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sarahcount
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Post by sarahcount on May 30, 2019 18:53:05 GMT
I knew this would happen. Really unimpressed with MT's handling of the situation, i'm going to wind down my other loans in protest. Why so unimpressed with MT's handling of the situation? Seems like they have acted fairly decisively all things considered.
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Post by df on May 30, 2019 19:46:52 GMT
Update via FS web site The borrower has had administrators appointed today - we are therefore defaulting all loans. We are in discussion with the administrators and will provide an update once the overall position is clearer. I wonder how did FS found out? By reading this forum? MT knew of the problem and updated us a month ago.
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