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Post by spurs007 on Jul 30, 2019 15:41:55 GMT
very well written .
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jcb208
Member of DD Central
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Likes: 638
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Post by jcb208 on Jul 30, 2019 15:49:16 GMT
Incompetent and don't give a toss,they don't even carry out what they promise in updates except for just give a blatant lie.I hope the FCA are keeping a close watch on them.Lost another £300 with this pathetic loan
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p2p2p
Member of DD Central
Posts: 123
Likes: 114
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Post by p2p2p on Jul 30, 2019 16:15:23 GMT
FS have stated in their update that as far as they are concerned the case is closed. I do not find this acceptable, given the catalogue of errors. I suspect the loss of reputation that has occurred due to their miss-handling far exceeds the £300k, and they would be wise to consider compensating lenders before the bad press gets worse.
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adrian77
Member of DD Central
Posts: 3,920
Likes: 4,145
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Post by adrian77 on Jul 30, 2019 16:27:11 GMT
so after I bang on about this FS finally come clean - happy coincidence no doubt.
I was right in my mega list and very close with my latest expectation i.e. £13,840K out for a sum on £231K. Am I pleased - NO and the reason being is that I am very annoyed when I see decent people ,including some pensioners shafted by gross incompetence!
Below is what I wrote about a year ago
so these excuses about company going bust etc etc etc is TWADDLE - I checked these directors at CH - they are anything but young with have a very curious financial history and IMO FS have been well and truly had yet again. As to the forum poster who asked for an audit trail of the money - damn good question!
On a somewhat related theme I read that some people let the HMRC strike them off the company register as a means of avoiding overdue tax. I am not an accountant so this may or may not be true but I wonder if just one or two of FS's borrowers (especially the ones with multiple loans) have possibly shuffled OUR money around with a wedge going to a "reserve fund" which just happens to be part of a company that happens to get struck off - and where is the "reserve fund" once this happens? oh well - only a question of time before the media are all over FS. Well at least I can close the books on another of my top 40 FA list!
Reading between the lines of some of these latest posts I get the distinct impression this one has not gone down very well?
I wrote the below earlier in the year - many of us saw this was a disaster so why didn't FS ?
next stop Hells Bells?
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Post by dl292 on Jul 30, 2019 17:54:48 GMT
fundingsecure : DAMN WELL RESPOND !!! You wont though will you. You never do. SHAME ON YOU!!!!
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p2ploser
Member of DD Central
Posts: 163
Likes: 221
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Post by p2ploser on Jul 30, 2019 18:11:17 GMT
As a as a lot of us know, this is just the tip of the fundingsecure Iceberg. I can’t believe people are still putting money in. so after I bang on about this FS finally come clean - happy coincidence no doubt. I was right in my mega list and very close with my latest expectation i.e. £13,840K out for a sum on £231K. Am I pleased - NO and the reason being is that I am very annoyed when I see decent people ,including some pensioners shafted by gross incompetence! Below is what I wrote about a year ago so these excuses about company going bust etc etc etc is TWADDLE - I checked these directors at CH - they are anything but young with have a very curious financial history and IMO FS have been well and truly had yet again. As to the forum poster who asked for an audit trail of the money - damn good question! On a somewhat related theme I read that some people let the HMRC strike them off the company register as a means of avoiding overdue tax. I am not an accountant so this may or may not be true but I wonder if just one or two of FS's borrowers (especially the ones with multiple loans) have possibly shuffled OUR money around with a wedge going to a "reserve fund" which just happens to be part of a company that happens to get struck off - and where is the "reserve fund" once this happens? oh well - only a question of time before the media are all over FS. Well at least I can close the books on another of my top 40 FA list! Reading between the lines of some of these latest posts I get the distinct impression this one has not gone down very well? next stop Hells Bells?
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Post by brightspark on Jul 30, 2019 19:34:06 GMT
One of many,many loans that are going to leave lenders in shock.i truly believe that FS are incompetent,untrustworthy,incapable,unreliable and should be held accountable for the mishandling and total lack of care with lenders funds. they are supposed to be acting as our agents and in our best interests yet they treat lenders with contempt and like idiots.very soon the FCA for what they are worth will be visiting FS with the FOS already aware of many complaints against these bunch of amateur clowns I can't disagree with most of your sentiments. Although p to p platforms can be (mis)construed as acting as agents for investors their proper role is to act as middlemen between lenders and borrowers. In this role they should be even-handed. Viewing platforms as agents for lenders is psychologically wrong. it leads to the presumption that the information being provided by the platform is for the benefit of lenders and that the due diligence information is factual and as complete as possible. Again if problems arise platforms should be evenhanded as regards interests of lenders and borrowers. Unfortunately too often this seems to be and can be excuse for endless procrastination.
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09dolphin
Member of DD Central
Posts: 638 
Likes: 866
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Post by 09dolphin on Jul 31, 2019 9:00:11 GMT
who did the valuation for the park home loans . losing over 95% of my money on these loans is criminal. who ever did the value for these loans should pay . I have just had to write off £478.88 in cash . all the interest for the over long time you have taken to sort this out . and the amount I had to write off before for other loan parts for park homes . and parks of this loan had no return at all . this now seems to be the normal for this site . all my loans are now over due. I would like to sell all of them but cant due to them being over term . when can I withdraw all my money from your junk site . THIS IS A COMPLATE ABOUT THE RUNNIUNG OF THE FUNDING SECURE SITE This is why this site describes themselves as "FUNDING SECURE". They want to create the impression that the money you have invested is "secure" when nothing could be further from the truth.
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arby
Member of DD Central
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Likes: 959
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Post by arby on Jul 31, 2019 13:21:38 GMT
who did the valuation for the park home loans . losing over 95% of my money on these loans is criminal. who ever did the value for these loans should pay . I have just had to write off £478.88 in cash . all the interest for the over long time you have taken to sort this out . and the amount I had to write off before for other loan parts for park homes . and parks of this loan had no return at all . this now seems to be the normal for this site . all my loans are now over due. I would like to sell all of them but cant due to them being over term . when can I withdraw all my money from your junk site . THIS IS A COMPLATE ABOUT THE RUNNIUNG OF THE FUNDING SECURE SITE This is why this site describes themselves as "FUNDING SECURE". They want to create the impression that the money you have invested is "secure" when nothing could be further from the truth. If it was "returns secured" then I'd be inclined to agree it gives that impression. As it is, a 'secured loan' is a widely understood term which means there is more than just the word of the borrower backing the loan, but security does not guarantee repayment.
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adrian77
Member of DD Central
Posts: 3,920
Likes: 4,145
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Post by adrian77 on Jul 31, 2019 16:36:41 GMT
To hell with semantics - from Wikipedia
Some people may possibly lose a great deal of money due to how FS handled or rather mishandled this one - please correct me but FS never even ensured these paintings were under their control and simply accepted a glorified IOU over lunch.
Nobody said security guarantees payment - but it sure helps and not having the asset under control isn't exactly helpful !
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Jul 31, 2019 20:50:40 GMT
To hell with semantics - from Wikipedia Some people may possibly lose a great deal of money due to how FS handled or rather mishandled this one - please correct me but FS never even ensured these paintings were under their control and simply accepted a glorified IOU over lunch. Nobody said security guarantees payment - but it sure helps and not having the asset under control isn't exactly helpful ! Dear Chap, calm down, this Topic is about The Park Homes, and you're posting here about The Art Loans? Or maybe I need to calm down?!!  adrian77
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Post by kebabby1 on Aug 3, 2019 19:13:23 GMT
Hi, Can anyone PM me the company name of the borrower, I cant seem to find it in FS. Thanks
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Post by spurs007 on Aug 7, 2019 15:06:00 GMT
I am looking for these details as well ….did ask fs for all details ….but all the <insult removed> said ...it was all on the loan page …………….lies
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adrian77
Member of DD Central
Posts: 3,920
Likes: 4,145
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Post by adrian77 on Aug 7, 2019 15:29:55 GMT
look in the excellent FS DD forum - if need be send me a PM
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Post by mrclondon on Aug 7, 2019 15:31:33 GMT
Hi, Can anyone PM me the company name of the borrower, I cant seem to find it in FS. Thanks I am looking for these details as well ….did ask fs for all details ….but all the <insult removed> said ...it was all on the loan page …………….lies See my post on page 1 of this thread from 2017. The borrower's name is on some of the photos attached to the listings.
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