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Post by skooldaze on Jul 25, 2019 13:03:22 GMT
Is this the oldest remaining FC loan? When is it expected the hotel will be sorted and sold? See Brexit...
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rogerthat
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Post by rogerthat on Jul 25, 2019 21:29:17 GMT
Is this the oldest remaining FC loan? When is it expected the hotel will be sorted and sold? See Brexit... When the Receivers have sucked the marrow out of any realisable assets, then FC can wash their hands of it and close the file. And despite favourable early mutterings last year, I don't think there'll be much change left out of the Liverpool hotel for basically the same reason. My oldest FC loan still on life support is No.221 which is repaying 0.51p/month..and has been since around 2011/12 Total recoveries to date of my old FC Loanbook are at 41.7%
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sussexlender
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Cheat seeking missile
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Post by sussexlender on Aug 15, 2019 9:53:40 GMT
Another year goes by and here comes another Eastbourne Airshow, weather permitting.
The Eastbourne hotel purchased by these highly skilled scam borrowers, using our cash, is still open and taking cash bookings.
There appears to have been no action by FC's expert legal team etc as regards recovering / selling the London hotel or evicting the borrowers family from occupying the flat.
FC's failure to admit defeat and to repay investors capital is the most obvious example of how a P2P platform can draw in cash from honest investors and then wash their hands of the matter when it all goes wrong, or in this case, when the truth comes out and exposes a sham borrower and a totally incompetent "highly experienced property team" (now deceased).
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adrian77
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Post by adrian77 on Aug 16, 2019 1:57:46 GMT
Correct me if I am wrong but I think this one is nearly 4 years late !
This is ridiculous - strikes me FC are just bothered about cashing in after their flotation and to use a technical accounting phrase - "don't give a monkey's".
Like a lot of us I saw the inevitable demise of FS and completely selling my portfolio was one of the best decisions of my life
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susan
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Post by susan on Sept 9, 2019 10:08:36 GMT
Well, there will be a receiver’s report next month to look forward to.
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coop
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Post by coop on Sept 11, 2019 14:01:12 GMT
Can't be that bad can it? The RAG status is only Amber after all
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Post by brightspark on Sept 19, 2019 12:39:03 GMT
I think most on this forum could write the next Administrator's report. It will go somewhere along the lines of blah, blah, blah, blah. The next report will be in 6 month's time.
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keitha
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2024, hopefully the year I get out of P2P
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Post by keitha on Sept 22, 2019 12:30:51 GMT
I think most on this forum could write the next Administrator's report. It will go somewhere along the lines of blah, blah, blah, blah. The next report will be in 6 month's time. think you forgot to add "my fees to date are £xxxxxx"
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sussexlender
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Cheat seeking missile
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Post by sussexlender on Sept 24, 2019 14:40:18 GMT
This loan and the absurd amount of time that FC delayed before taking any action on behalf of the investors demonstrates the fact that FC could not care less about their investors.
It is one of the bench marks for failure in the peer 2 peer industry along with Lendy. Curious how FC never mention the London Hotel fiasco it in their painful "children's play ride" TV adverts.
This loan highlights the lack of due diligence by FC and the failure of the senior management to oversee their "highly experience property team" in order to spot suspect borrowers. The fcat is that FC failed to protect investors interests and have simply walked away.
Of course the next 6 months update will basically say "nothing has changed".
The Eastbourne hotel, which we all paid for by this further " 8 month short term advance" is still open and taking cash from visitors.
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adrian77
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Post by adrian77 on Sept 24, 2019 16:46:07 GMT
according to CH next auditors' report within 5 days - now I wonder what that will say - more expense and no progress - surely not!
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Post by many38 on Sept 24, 2019 16:48:42 GMT
Does the anyone know whether the Government is still putting 10% into every loan? If so they should be interested in sorting out this mess and all the others.
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keitha
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2024, hopefully the year I get out of P2P
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Post by keitha on Sept 24, 2019 17:24:21 GMT
amount government puts in varies from loan to loan ( or in some cases gift to gift )
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wuzimu
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Post by wuzimu on Sept 24, 2019 17:31:02 GMT
Has anybody else complained to FC about this loan? My complaint is at FOS (queued...yawn)
If you read the FC loan particulars, all CH reports, land registry records and dig a little into the borrower, guarantor and their family, there is enough in the public domain to understand pretty well what has occurred. I think you will find actionable misconduct by FC (IMO!).
If you have a complaint, let me know and I'll tell you where I get to.
If you had a completed complaint - please tell me what happened!
Regards W.
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Post by frank220 on Sept 25, 2019 10:25:32 GMT
Note that a new administrator "Lack of progress" report just been uploaded Wonder how little progress on anything the administrators have managed to make..
Really wondering if anyone has considered a class action against fc on this
The time taken so far is farcical
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Post by frank220 on Sept 26, 2019 9:41:55 GMT
So what the administrators lack of progress report show is that the only thing that has changed is the cost of administration and a court date in 2020
and that that damn purported tenancy holder looks like he's trying to pull another fast one by changing business name (probably some dodgy deal with the lease) - although I suspect this will come as a complete shock to the administrators in 2020 and require even more "costs"
These guys are not just slow they are myopic as well.
Must be nice to make £250/hr for doing so little
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