adrian77
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Post by adrian77 on Aug 1, 2021 9:27:52 GMT
The very idea! ]
Of course the fees would be guaranteed income for CG whilst our chance of getting any money is not....
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Post by overthehill on Aug 1, 2021 11:20:02 GMT
Could be a way to generate more fees I was in this loan and it is not on my "current investments" list now, so in my understanding the loss has been crystallised. It was taken off current investments, presumably to discourage questions, but listing has been kept updated. I will try to fish the link out later...
30/07/2021 Further legal advice has been sought in relation to any further recoveries but will not be disclosed at this stage so as not to prejudice the position. The Joint Administrators continue to make enquiries with the West Midlands Police but have received very little by way of an update.
29/01/2021 The Administrators are making enquiries to ascertain whether it is possible (and viable) to pursue the borrower for the loan balance in the present circumstances. Solicitors have been engaged and Investors will be kept updated accordingly.
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james100
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Post by james100 on Aug 1, 2021 17:26:39 GMT
It was taken off current investments, presumably to discourage questions, but listing has been kept updated. I will try to fish the link out later...
30/07/2021 Further legal advice has been sought in relation to any further recoveries but will not be disclosed at this stage so as not to prejudice the position. The Joint Administrators continue to make enquiries with the West Midlands Police but have received very little by way of an update.
29/01/2021 The Administrators are making enquiries to ascertain whether it is possible (and viable) to pursue the borrower for the loan balance in the present circumstances. Solicitors have been engaged and Investors will be kept updated accordingly.
( df) Yes, it's all still here: link
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Post by df on Aug 1, 2021 20:58:32 GMT
30/07/2021 Further legal advice has been sought in relation to any further recoveries but will not be disclosed at this stage so as not to prejudice the position. The Joint Administrators continue to make enquiries with the West Midlands Police but have received very little by way of an update.
29/01/2021 The Administrators are making enquiries to ascertain whether it is possible (and viable) to pursue the borrower for the loan balance in the present circumstances. Solicitors have been engaged and Investors will be kept updated accordingly.
( df ) Yes, it's all still here: linkFollowed the link, logged in and it says "Loan Overview - not available".
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james100
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Post by james100 on Aug 1, 2021 21:55:13 GMT
( df ) Yes, it's all still here: linkFollowed the link, logged in and it says "Loan Overview - not available". I'm sorry, don't know what to suggest...clicking that and logging in takes me to the loan page on multiple devices. Not that there's anything worth reading on it!
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Post by df on Aug 1, 2021 22:40:48 GMT
Followed the link, logged in and it says "Loan Overview - not available". I'm sorry, don't know what to suggest...clicking that and logging in takes me to the loan page on multiple devices. Not that there's anything worth reading on it! Since administrators took over all my crystallised loans have disappeared from my view. Investment history says no "data available in table". Well, it doesn't really matter - I'm not expecting any more back from the disappeared and hardly anything from what is left on my "current investment" list. I consider myself very lucky, I broke even with FS (or to be precise I've made £1.25 profit so far
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nyneil
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Post by nyneil on Aug 2, 2021 9:19:00 GMT
( df ) Yes, it's all still here: linkFollowed the link, logged in and it says "Loan Overview - not available". If the loan was in your IFISA, you need to log into that first, otherwise you see, "Loan Overview - not available". I'm curious about this update; does anyone know which properties are involved? 28/01/2020 It has transpired that the borrower did not have title to the Micro Sculptures and had fraudulently used them as collateral for the loan. West Midlands Police and Thames Valley Police have been in contact with the Joint Administrators in relation to the return of the Micro Sculptures to their owner. The security is being reviewed on the other three Properties that the borrower has with FundingSecure to establish whether there is are any available funds.
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nyneil
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Post by nyneil on Aug 2, 2021 9:30:20 GMT
I note, in the discussions re. Connective Lending, they state: "As mentioned we do have commercial insurance in place for defective title"
Presumably, hopefully, the administrators have investigated this in relation to FS. If FS didn't have this, it was yet another example of their gross incompetence.
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Post by df on Aug 2, 2021 10:51:33 GMT
Followed the link, logged in and it says "Loan Overview - not available". If the loan was in your IFISA, you need to log into that first, otherwise you see, "Loan Overview - not available". I'm curious about this update; does anyone know which properties are involved? 28/01/2020 It has transpired that the borrower did not have title to the Micro Sculptures and had fraudulently used them as collateral for the loan. West Midlands Police and Thames Valley Police have been in contact with the Joint Administrators in relation to the return of the Micro Sculptures to their owner. The security is being reviewed on the other three Properties that the borrower has with FundingSecure to establish whether there is are any available funds. Found it. Thank you! 1957312854 (additional borrowing) repaid on 21/07/2017. 2995118349 defaulted on 26/10/2020 with £0 return - Actual return displays at -31.1% pa, I guess that's taking into account the interest I've earned?
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rogerthat
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Post by rogerthat on Aug 2, 2021 11:21:31 GMT
I note, in the discussions re. Connective Lending, they state: "As mentioned we do have commercial insurance in place for defective title" Presumably, hopefully, the administrators have investigated this in relation to FS. If FS didn't have this, it was yet another example of their gross incompetence. Bloody puter conking out so ive just lost most of a post..hoorah I hear..so this might appear in stages. Has the insurance or lack of it been actually confirmed or otherwise...would it have been a pre-requisite to achieve FCA accreditation ? (another FCA failing possibly) Does anyone know the date FS actually achieved accreditation? What gets my pantaloons in a twist is this..as Plod was involved surely this became a criminal case..theft / fraud being the obvious but not necessarily the only offences. This was the crook that was the facilitator/go between over the Art loans ? One presumes he has a fixed abode and/or not living in a tent... you never know but Plod should. Surely to God he has some assets somewhere ? Has he been prosecuted ? What's the craic on these '3 other property loans ? Leave it at that for now
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Post by overthehill on Aug 2, 2021 12:01:13 GMT
I note, in the discussions re. Connective Lending, they state: "As mentioned we do have commercial insurance in place for defective title" Presumably, hopefully, the administrators have investigated this in relation to FS. If FS didn't have this, it was yet another example of their gross incompetence. Bloody puter conking out so ive just lost most of a post..hoorah I hear..so this might appear in stages. Has the insurance or lack of it been actually confirmed or otherwise...would it have been a pre-requisite to achieve FCA accreditation ? (another FCA failing possibly) Does anyone know the date FS actually achieved accreditation? What gets my pantaloons in a twist is this..as Plod was involved surely this became a criminal case..theft / fraud being the obvious but not necessarily the only offences. This was the crook that was the facilitator/go between over the Art loans ? One presumes he has a fixed abode and/or not living in a tent... you never know but Plod should. Surely to God he has some assets somewhere ? Has he been prosecuted ? What's the craic on these '3 other property loans ? Leave it at that for now Didn't your mum tell you that the legal system is just for those who can afford to use it to get what they want. That's why I like Axiafunder.
Police prosecution ? I didn't realise financial fraud or cyber fraud for that matter was even a crime yet ?! Is it worth the effort? A few months in prison, possibly suspended and probably not even having to repay anything from the proceeds of the crime.
Did FS have insurance ? Not affordable as no affordable insurance company would have touched them.
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nyneil
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Post by nyneil on Aug 2, 2021 15:22:13 GMT
Did FS have insurance ? Not affordable as no affordable insurance company would have touched them.
Is that fact or speculation?
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Post by overthehill on Aug 2, 2021 16:40:49 GMT
Did FS have insurance ? Not affordable as no affordable insurance company would have touched them.
Is that fact or speculation? speculation.
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rogerthat
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Post by rogerthat on Aug 2, 2021 20:18:21 GMT
Is that fact or speculation? speculation. + Is it worth the effort? Well..if it had been 50p or even £50, I suppose not..just suck it up and move on.. But actually it was £2000.00 so I'll leave it to you on whether you think trying to retrieve anything at all is worth it.
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Post by overthehill on Aug 2, 2021 20:31:44 GMT
+ Is it worth the effort? Well..if it had been 50p or even £50, I suppose not..just suck it up and move on.. But actually it was £2000.00 so I'll leave it to you on whether you think trying to retrieve anything at all is worth it. I was referring to the police / cps , I doubt our FS debt would have any bearing on whether or not to prosecute.
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