dorset
Member of DD Central
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Post by dorset on Apr 25, 2014 15:48:54 GMT
Loan 2799 the Top T** L** Firm (sic) is yet again late and they are messing FC and the lenders about yet again. I have asked FC if their loan agreement has a provision by which they can declare a borrower in default and seek immediate repayment due to continual breach of the terms of the loan agreement.
The law firm on their website invites potential clients to make contact if they have a legal problem. Clearly we have a legal problem with the firm – perhaps they could advise us. Holders of their second loan (4325) are presumably experiencing the same problems.
I will update the forum if I get a reply from FC.
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oldgrumpy
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Post by oldgrumpy on Apr 25, 2014 16:15:10 GMT
Grumped them after the last fiasco. T*p T*r Flaw F**m IMHO, with the emphasis on Flaw. I wonder if their legal work is as sloppy.
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Post by chielamangus on Apr 25, 2014 16:42:58 GMT
I sent off a series of daily emails to them last time until payment was made. Time to start again. Now if every investor did this ....
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jm72
Posts: 109
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Post by jm72 on Apr 25, 2014 16:48:54 GMT
I was obviously one of the lucky ones and managed to sell this a long time ago  . Interesting comments on the loan though: 26th March: If we don't get payment soon we will act to recover full amount 15th April: March payment made. That looks like a good three weeks between threatening imminent legal action and actually getting paid. Are FC all talk / bluster? |
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Apr 25, 2014 16:49:29 GMT
Did they ever have the courtesy to reply? Their headline name M****n is not a real one, by the way. I think it is a disguise to make it appear more English.
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Post by chielamangus on Apr 25, 2014 17:11:35 GMT
No. But I have a certain capacity for directness, and made the receipient (a junior without doubt) aware of the contempt in which his/her firm was held. I did wonder aloud what it was like to work for people who obviously could not be trusted.
I expect such a comment will be censored in due course. Fortunately, no one can censor my emails (yet).
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dorset
Member of DD Central
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Post by dorset on Apr 25, 2014 19:53:51 GMT
I sent off a series of daily emails to them last time until payment was made. Time to start again. Now if every investor did this .... Good idea. I will send one off tomorrow. Perhaps other 2799/4325 holders may care join in?
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dorset
Member of DD Central
Posts: 281
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Post by dorset on May 7, 2014 13:51:31 GMT
Downgraded due to a CCJ. However payments are now up to date.
What are the odds of an eventual default? Should law firms have their own risk category?
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Post by oldatheist on May 7, 2014 15:16:27 GMT
Downgraded due to a CCJ. However payments are now up to date.
What are the odds of an eventual default? Should law firms have their own risk category? Law firms specialising in criminal defence work should certainly be avoided as lots of them are in deep dodo due to the government cutting back on legal aid payments. What money they are owed from that type of work also seems subject to late payment, which is not to good when you have little working capital to see them through erratic payments.
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. Interesting comments on the loan though: