Post by jm72 on Apr 2, 2014 9:15:18 GMT
Loan 1017, which was making payments but these were expected to extend significantly beyond the original payment term was defaulted a little while ago. One of the previous schedule repayments has just been made and distributed - but with higher fees taken off by FC than the 1% mgt fee that was previously taken. This is due to the T&Cs allowing FC to take 20% of the 'recovered' amount on a defaulted loan, but only 1% on non-defaulted loans. Is this the real reason for defaulting loans which are slowly making payments?
