merlin
Minor shareholder in Assetz and many other companies.
Posts: 902 
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Post by merlin on Apr 28, 2014 22:08:14 GMT
4907 joined the "Winders Club" on the 25th April, so says FC. Seems to be a steady stream of these at the moment!
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jm72
Posts: 109
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Post by jm72 on Apr 29, 2014 11:49:27 GMT
5426. Exposed  I remember thinking it was risky even for a C-, but was seduced by the rate! There seems to be a spate of loans which are late without any comments - I wonder if FC staff have been on holiday and haven't been able to make the phone call to be able to put a 'chasing borrower' comment up!
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mikeb
Posts: 1,072
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Post by mikeb on Apr 29, 2014 18:22:17 GMT
5426. Exposed I remember thinking it was risky even for a C-, but was seduced by the rate! Problems setting up the Direct Debit, according to comments. That's all?
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fasty
Member of DD Central
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Post by fasty on Apr 29, 2014 19:09:18 GMT
Ah, yes, in credit to FC at least they have made a comment about 5426 now. Perhaps I'm just getting paranoid because I seem to be losing about twice as much as predicted to defaults, despite careful selection and extreme diversification!
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fasty
Member of DD Central
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Post by fasty on May 1, 2014 19:23:49 GMT
5034 (He's not been well you know) : Interesting to see that the loan comment transcript appears to have been changed by FC. A few days ago they published a comment that the borrower had been ill; now it merely refers to "...unforeseen personal circumstances..." Also repeats that they "spoke to the solicitor today", which I wonder might still be a legacy from the earlier (withdrawn) post. Not comfortable about this one.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on May 1, 2014 19:34:46 GMT
5034 (He's not been well you know) : Interesting to see that the loan comment transcript appears to have been changed by FC. A few days ago they published a comment that the borrower had been ill; now it merely refers to "...unforeseen personal circumstances..." Also repeats that they "spoke to the solicitor today", which I wonder might still be a legacy from the earlier (withdrawn) post. Not comfortable about this one. Quite right. The note has been altered by FC. It did say the borrower "had been very ill" and had given FC the number of his solicitor. They did not speak to the solicitor "today" (1 May). They spoke to the solicitor on the day the note was first posted (29 April?). Reference is made to that on earlier posts in these forums.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on May 2, 2014 10:09:02 GMT
(NOT CRAPSCRAP):
5034 FC have refunded all lenders on this one (3 containers of plonk) now, and will pursue the borrower themselves. I doubt we will get any more explanations of the circumstances of the default.
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blender
Member of DD Central
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Post by blender on May 2, 2014 10:58:01 GMT
(NOT CRAPSCRAP): 5034 FC have refunded all lenders on this one (3 containers of plonk) now, and will pursue the borrower themselves. I doubt we will get any more explanations of the circumstances of the default. We should give FC credit for this. But if FC have 4% commision (or less) on an average size loan like this the a full refund wipes out the commission on another 24 (or more). They cannot afford many.
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markr
Member of DD Central
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Post by markr on May 2, 2014 11:07:48 GMT
Quite right. The note has been altered by FC. It did say the borrower "had been **** ***" and had given FC the number of his solicitor. They did not speak to the solicitor "today" (1 May). They spoke to the solicitor on the day the note was first posted (29 April?). Reference is made to that on earlier posts in these forums. A similar thing in the email sent out about this. Look carefully and the words "unforeseen serious and challenging personal circumstances" look a slightly different colour (darker grey) than the surrounding text (the page source confirms this), suggesting that the text has been edited before sending, possibly in a bit of a hurry.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on May 2, 2014 11:10:29 GMT
Whatever the actual legalities of FC's liability when loans go bad with 0 (or even 1 or 2) payments made, they will be well aware that very bad publicity would follow any action other than this. They wriggle at their own risk. This loan had to be dealt with very rapidly and to the lenders' satisfaction. FC need to be seen to be offering loans which do not default in a short time.
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jm72
Posts: 109
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Post by jm72 on May 2, 2014 16:56:13 GMT
(NOT CRAPSCRAP): 5034 FC have refunded all lenders on this one (3 containers of plonk) now, and will pursue the borrower themselves. I doubt we will get any more explanations of the circumstances of the default. But interestingly, FC only seem to have refunded £19.99 for a £20.00 loan part. Not sure I'm going to get too worked up over the difference, but have sent an email through questioning why.
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oldgrumpy
Member of DD Central
Posts: 5,087
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Post by oldgrumpy on May 2, 2014 17:01:46 GMT
(NOT CRAPSCRAP): 5034 FC have refunded all lenders on this one (3 containers of plonk) now, and will pursue the borrower themselves. I doubt we will get any more explanations of the circumstances of the default. But interestingly, FC only seem to have refunded £19.99 for a £20.00 loan part. Not sure I'm going to get too worked up over the difference, but have sent an email through questioning why. Yes. They still owe me a penny!!  Let us know what they say please.
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jm72
Posts: 109
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Post by jm72 on May 2, 2014 17:29:36 GMT
But interestingly, FC only seem to have refunded £19.99 for a £20.00 loan part. Not sure I'm going to get too worked up over the difference, but have sent an email through questioning why. Yes. They still owe me a penny!! Let us know what they say please. Will do - but it might take a while. Every single email I've sent over the past 6 months has had the automatic reply 'we will respond within 2 days', only to get another email 2 days later 'due to unforeseen volumes of requests, we have not been able to respond but will as soon as possible'. I'm wondering how unforeseen it can be, when it's been an issue for such a long time - or maybe I'm on a blacklist somewhere!
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mikeb
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Post by mikeb on May 2, 2014 17:33:51 GMT
(NOT CRAPSCRAP): 5034 FC have refunded all lenders on this one (3 containers of plonk) now, and will pursue the borrower themselves. I doubt we will get any more explanations of the circumstances of the default. They have *almost* refunded it -- the "recovery" is just short of the amount of the bid, rounding errors? Glad they saw sense and used "discretion" on this one, and yes, I too noticed the retrospective editing of the comments (it's not the first time). Audit trail, what audit trail?
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jm72
Posts: 109
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Post by jm72 on May 2, 2014 17:37:16 GMT
Glad they saw sense and used "discretion" on this one, and yes, I too noticed the retrospective editing of the comments (it's not the first time). Audit trail, what audit trail? And there was I thinking that they couldn't delete / correct previous comments. There is an interesting comment on one loan which just says 'T', the next comment very quickly afterwards has the full sentences - I wonder why they didn't delete the first one if they could
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Let us know what they say please.