kaya
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Post by kaya on Sept 1, 2016 8:34:51 GMT
Its not just the SM that's gone. Loan repayments are not being marked up, loans defaulted without comment, no new loans...
As things stand, this is no longer a living P2P platform - it is a dead website. My confidence is crashing, and continued explanations of mere 'technical' problems to be resolved 'soon', or words to that effect, are not good enough anymore. Is this an impending disaster?
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oldgrumpy
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Post by oldgrumpy on Sept 1, 2016 9:08:29 GMT
Most of my August repayments have a 31 Aug note saying payment recived "processing".
In other words their system is thoroughly cocked up, not just the secondary market.
They did process my withdrawal of unlendable funds yesterday very quickly though.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 1, 2016 9:20:28 GMT
Its not just the SM that's gone. Loan repayments are not being marked up, loans defaulted without comment, no new loans... As things stand, this is no longer a living P2P platform - it is a dead website. My confidence is crashing, and continued explanations of mere 'technical' problems to be resolved 'soon', or words to that effect, are not good enough anymore. Is this an impending disaster? Seems to be functioning as normal from my view, bar the lack of SM. Admittedly Im in rundown and have been since before the ‘coup', however seem to be updates on my issue loans, payments all showing where they should and the same loan is late as normal. Lack of loans was why I left and does look like they cant get the origination to survive. Shame as I liked the platform. Edit see what Grumps means, defaults all processing Aug/Jul payments, who handles collection of those?
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Post by mrclondon on Sept 1, 2016 11:11:54 GMT
I had intended posting on this subject yesterday, as I'm missing the following payments from the last month
29-Jul-16 D****** & S******* Holdings Ltd and (blah) Property Bridging Loan (Bullet repayment of IO loan) 16-Aug-16 ***** Retail Ltd Purchase of a filling station 18-Aug-16 Leisure***** Limited Seasonal loan for stock finance 18-Aug-16 ******* Hay Ltd Business expansion 22-Aug-16 *** Jewellers Ltd Stock purchase 25-Aug-16 *********** Structures Ltd Relocatable Structures Expansion and Growth 26-Aug-16 Rock ********* Ltd Assisting working capital 30-Aug-16 Automotive ******* ******* Limited Refinance existing debt 30-Aug-16 ******* Investments Holdings Ltd [Connected] Purchase 30-Aug-16 **** House (*******) Ltd Growth/expansion
which is a pretty sad state of affairs, and could be indicative of a lack of focus at FK in chasing late payers, possibly due to reducing staff numbers co-inciding with holiday season.
However it may be that is just a bad time to take a sapshot.
******* Hay Ltd / *** Jewellers Ltd / Rock ********* Ltd have frequently been a bit late in paying D****** & S******* Holdings Ltd and (blah) have effectively defaulted on the bullet repayment Leisure***** Limited had indicated possible early redemption of the loan was imminent. 30-Aug-16 payments may be bank holiday timing glitches for DD's
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oldgrumpy
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Post by oldgrumpy on Sept 1, 2016 11:16:43 GMT
mrclondon See my post above. Many of those may have an update yesterday saying the August payment has been received and is "in processing"...at least one of mine says this for a payment due 8 August!!
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n
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Yet another Nick
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Post by n on Sept 1, 2016 17:36:09 GMT
I signed up at the beginning of this year and have only managed to get about £330 into new loans @ £25 (I never bought 'used' loans) but my interest during August (£2.89) appears to be all present and correct (or at least consistent - I never bothered checking in detail). July's interest was £2.80.
I am very pleased to have not managed to invest more by the look of things. I got nearly 2K into RebS before that all started going pear shaped for me. So far so good for SS, MT, FS, Abl, Col et al.
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Post by mrclondon on Sept 1, 2016 18:40:59 GMT
I really struggle to understand what is going wrong at FK, but I lay at least some of the blame at the door of GLI Finance. This webpage www.glifinance.com/our-platforms/ lists the various platforms that GLI Finance own, including some that have boards on this forum or have been discussed here.
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oldgrumpy
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Post by oldgrumpy on Sept 1, 2016 19:37:45 GMT
Don't worry folks!
Funding Knight has the answers!
It says so on their website.
Here's a reassuring sample page (just a screenshot of the top bit). Title: Internal issues holding your business back!This is dated two days ago!!!!!! Ironic, or wot???, (written by Sophie, a FK regular). www.fundingknight.com/news/internal-issues-holding-your-business-back/PS Pah!!! I'm off for a pint. Then I'll have a pint.
etc.
Attachments:
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Steerpike
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Post by Steerpike on Sept 1, 2016 20:07:10 GMT
Anyone else in the F** C******* S******* loan?
For what it is worth, based on the history, my reaction is to reject the proposal.
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bababill
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Post by bababill on Sept 1, 2016 23:40:38 GMT
Yesterday I received full repayment for 18-Aug-16 Leisure***** Limited Seasonal loan for stock finance (shows credited on the 18th but funds only allocated to my account yesterday)
Happy to see funds received but lots more outstanding.
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Post by westonkevRS on Sept 8, 2016 10:36:04 GMT
Not good: www.thegazette.co.uk/notice/2608003 Appointment of Liquidators (7th September 2016) Company Number: 07690518 Name of Company: FUNDING KNIGHT HOLDINGS LIMITED Nature of Business: Activities of head offices Type of Liquidation: Creditors
Unsure if this is just a associated company and the brand is continuing. But doesn't provide confidence. Kevin.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 8, 2016 10:43:08 GMT
Not good: www.thegazette.co.uk/notice/2608003 Appointment of Liquidators (7th September 2016) Company Number: 07690518 Name of Company: FUNDING KNIGHT HOLDINGS LIMITED Nature of Business: Activities of head offices Type of Liquidation: Creditors
Unsure if this is just a associated company and the brand is continuing. But doesn't provide confidence. Kevin. I think this is the parent company which went into administration. The trading entity Funding Knight Ltd was prepack sold to GLI
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kaya
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Post by kaya on Sept 9, 2016 11:40:19 GMT
A full explanation by FK of the ongoing situation would be most appreciated to remove any uncertainty.
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oldgrumpy
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Post by oldgrumpy on Oct 5, 2016 10:40:57 GMT
A full explanation by FK of the ongoing situation would be most appreciated to remove any uncertainty. Some hopes. The loan flow is all but dormant now, and one wonders how staff remuneration is being afforded. I am having to withdraw repayments.
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ben
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Post by ben on Nov 5, 2016 18:12:55 GMT
Repayments are still being made which is good I have not invested in any of the last few loans, which is a shame as I quite liked FK, hopefully they can decidewhat they are doing.
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