min
Member of DD Central
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Post by min on Apr 15, 2014 21:31:23 GMT
... 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. Just de-listed remaining 2 parts at par and put on sale at -0.5%. So 10.2% becomes 10.4%. Will let you know what occurs.
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Post by bracknellboy on Apr 15, 2014 21:39:06 GMT
You are living on borrowed time Min; FC must read this forum. My priority would be to get rid of the 4**0 parts pdq. Just de-listed remaining 2 parts at par and put on sale at -0.5%. So 10.2% becomes 10.4%. Will let you know what occurs. Hint hint: all posters can edit their own own posts of course.......   
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min
Member of DD Central
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Post by min on Apr 16, 2014 7:08:43 GMT
Just de-listed remaining 2 parts at par and put on sale at -0.5%. So 10.2% becomes 10.4%. Will let you know what occurs. Hint hint: all posters can edit their own own posts of course....... Both gone overnight - and not to an auto bidder. No doubt this thread will keep me up to date - more than FC seem capable of.
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Post by GSV3MIaC on Apr 16, 2014 7:16:23 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..... Oh go on ... Then old grumpy could get a moderator banned (do not assume there are no other archives of what was once here! Some folks keep everything... Offline. 8>.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Apr 16, 2014 7:26:55 GMT
Wot brackers 4 the chop? 
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Post by valerieb on Apr 16, 2014 8:19:48 GMT
Got 2060 but not the later loan. Has 4090 been downgraded yet? Any chance that holders of the first loan will have priority over any available funds, if it comes to that?
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blender
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Post by blender on Apr 16, 2014 8:48:22 GMT
There are no loan parts for sale in 4090 at present. Does that mean it has just gone RBR? They have a lot of loan outstanding, about £140k. And I notice the location is good old South Wales.
Sorry BB, but it is difficult to run with the hare and hunt with the hounds - you risk biting yourself occasionally.
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Post by bracknellboy on Apr 16, 2014 9:17:31 GMT
Loan parts for sale delisted and downgraded to no risk band: no comments added.
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Post by gingergent on Apr 16, 2014 16:48:29 GMT
Loan parts for sale delisted and downgraded to no risk band: no comments added. Well, it's still showing in my "for sale" list, although there's nothing available on the loan parts page (which is interesting). The risk band has now been removed, with a comment to the effect that FC are now chasing the guarantor. Payments are up-to-date (at least until 26th), which is presumably why it's not showing in the bad debt\late lists.
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min
Member of DD Central
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Post by min on Apr 16, 2014 18:20:10 GMT
Loan parts for sale delisted and downgraded to no risk band: no comments added. Well, it's still showing in my "for sale" list, although there's nothing available on the loan parts page (which is interesting). The risk band has now been removed, with a comment to the effect that FC are now chasing the guarantor. Payments are up-to-date (at least until 26th), which is presumably why it's not showing in the bad debt\late lists. Why are FC chasing guarantor when it's not late? My guess is that they don't want to 'buy' all the loan parts sold since the other loan was downgraded - sorry but they'll have to - basic inefficiency - which is why I'm getting out as quick as I can without throwing baby out with bathwater - and keeping my fingers crossed. Question - if FC either fold (inefficiency) or are shown to have poor/ca.p duedil, how will that make Guv look for investing throught them?
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jimbo
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Post by jimbo on Apr 16, 2014 22:25:08 GMT
The only thing that could cause FC to fold or sustain serious damage, in my view, would be a deluge of bad publicity caused by too many autobidders being caught up in non-performing loans. Given the growth of FC, I suspect if this is going to happen, it won't be any time soon due to the default numbers being dwarfed by the number of new borrowers. There are also a number of high profile venture capital backers whom, I suspect, will continue to offer their financial support to FC in all but the worst of circumstances.
The kind of problems highlighted so far are those caused by growing pains, where there are too few staff to support the workload (doesn't the insolvency team only have three members? Seems a bit low to me), and technology problems caused by scalability issues due to large volume take-up of their offering. As a growing business, these are both nice problems to have.
I'm not a fan of all aspects of how FC run their operation, but I think thoughts of doom are maybe a tad premature.
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