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Post by captainconfident on Apr 4, 2014 18:19:12 GMT
You know the annoying feature of FC where loan parts you are selling are not put back in your 'for sale' list after a monthly payment is processed? Because of this and slow pace of sales, I keep a list of loan parts I've assessed as ropey and occasionally have a sweep to put back up for sale anything which fell off the list.
Loan 2060 has disappeared. It is not processing or late either, and has no comments against it. I finally found by a roundabout route, and it is 'risk band removed'. But no comments being entered means it is missing from all lists I ever look at. My question, how many other loans have just disappeared?
I can see why this loan is RBR, the company has gone into administration. How about a note to that effect from FC? And they have a second loan, but this is not RBR, the only note being a standard WACTBFP. This all seems a bit slack.
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blender
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Post by blender on Apr 4, 2014 18:34:59 GMT
There are some funny things going on. 5533 is late on my loans and loan parts even though the first payment is due on 26 April. It cannot be sold, though there is no sign of a problem anywhere.
The risk band removed, with no other info, is usually due to the borrower deciding to pay it back from a new loan. They stop you selling and forget to add a note sometimes.
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Post by captainconfident on Apr 4, 2014 20:37:28 GMT
Not in this case. Risk band is removed because company in administration, but FC a) forgot to add note about this and b) have not removed risk band of other loan to same company.
Congratulations on your £34 loan part, by the way. It sounds very nice.
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Post by captainconfident on Apr 13, 2014 13:28:45 GMT
Can anybody explain what is happening with Carp***** Company? They have two loans. If you search them, they have gone into administration. At the time this happened, FC removed the risk band of the earlier loan but uniquely, no comment was entered by FC in explanation. The newer loan still has its risk band. In fact it just paid out a loan installment and is good for another month. It is like they are two different companies.
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blender
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Post by blender on Apr 13, 2014 18:48:48 GMT
What is the loan number, please?
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Post by captainconfident on Apr 15, 2014 14:11:57 GMT
2060 4090
Running shoes on! wactbfp has been declared against the downgraded loan.
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min
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Post by min on Apr 15, 2014 14:27:29 GMT
2060 4090 Running shoes on! wactbfp has been declared against the downgraded loan. But no mention of why and when it was downgraded.
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Post by captainconfident on Apr 15, 2014 14:29:53 GMT
And the same company has another loan which is not downgraded.
Given that other websites list the company as in administration, FC appears to have left the dumping door open on one of their loans by leaving it 'live'. At the same time, someone at FC must have an inkling that something's up, as they downgraded the first loan based on some information they failed to communicate to lenders.
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blender
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Post by blender on Apr 15, 2014 15:39:04 GMT
You are right CC. Borrower seems to be in administration and is late with 2060 but recently paid 4090. There are some parts of 4090 for sale at discount. This looks like an FC screw up. 4090 should be risk band removed.
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min
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Post by min on Apr 15, 2014 16:26:43 GMT
You are right CC. Borrower seems to be in administration and is late with 2060 but recently paid 4090. There are some parts of 4090 for sale at discount. This looks like an FC screw up. 4090 should be risk band removed. I'm one of those with parts of 4090 up for sale at discount. Hadn't realised 2 were linked - just wanted to get rid of some as felt I was over-exposed. Could be interesting if they sell and then get rb removed. Would the buyer have a case against FC for recompense?
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Post by captainconfident on Apr 15, 2014 17:21:00 GMT
I notice FC put up at least 3 WACTBFPs today.If they had really contacted this borrower, they should have found some pertinent information which they could have published about this loan. It's almost as if they put WACTBFP as a note to make it look like something is happening and just leave it at that.
I'll declare an interest, I've got a chunk locked in 2060, so I'm jealous that you lot have a chance to bolt out of the 4090 open door.
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min
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Post by min on Apr 15, 2014 17:21:25 GMT
You are right CC. Borrower seems to be in administration and is late with 2060 but recently paid 4090. There are some parts of 4090 for sale at discount. This looks like an FC screw up. 4090 should be risk band removed. I'm one of those with parts of 4090 up for sale at discount. Hadn't realised 2 were linked - just wanted to get rid of some as felt I was over-exposed. Could be interesting if they sell and then get rb removed. Would the buyer have a case against FC for recompense? Sorry to reply to my own post. It's a C loan. Had 2 x £20 @ 10% and 2 x £20 @ 10.2%. Re-listed the 10% ones at -1% and they both sold pdq. I watch developments with interest (maybe a slight guilty feeling but hey - buyer beware - and FC appear to have c.ck.d up by not removing risk band). The 2 x 10.2% are at par. No takers yet
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Post by aloanatlast on Apr 15, 2014 17:24:33 GMT
The implication seems to be that the Administrator made the delayed March payment on 4090, so presumably he's not expecting a liquidation.
Could be he's got a buyer lined up. Another possibility might be that somebody is pursuing a vendetta and the Administrator expects to get the case thrown out.
(Just guessing - haven't got any information.)
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blender
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Post by blender on Apr 15, 2014 18:54:10 GMT
I'm one of those with parts of 4090 up for sale at discount. Hadn't realised 2 were linked - just wanted to get rid of some as felt I was over-exposed. Could be interesting if they sell and then get rb removed. Would the buyer have a case against FC for recompense? ... The 2 x 10.2% are at par. No takers yet You are living on borrowed time Min; FC must read this forum. My priority would be to get rid of the 4090 parts pdq.
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Post by bracknellboy on Apr 15, 2014 21:11:14 GMT
As someone with some interest in 4**0, and have mod privileges, I'm sorely tempted to remove all trace of any mention of it on here...........resist, resist.....
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