blender
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Post by blender on Jan 5, 2021 17:52:24 GMT
Oh My friend we're older but no wiser For in our hearts the dreams are still the same Yes, from FC property to pubs elsewhere, we never learn.
'Once upon a time there was a tavern Where we used to raise a glass or two Remember how we laughed away the hours And dreamed of all the great things we would do'
We burned the night away - and in the ash we burnt another pile of cash.
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adrianc
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Post by adrianc on Jan 8, 2021 11:57:35 GMT
62%! Damn near 2/3!
That's a lot more than I was expecting to ever see again... <happy dance>
And there may yet be more...!
I am, frankly, gobsmacked and in a VERY good way.
That's now almost bob-on 2/3 of my FC defaults repaid. If only every platform was as good at chasing defaults... Current XIRR of 8.2%.
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coogaruk
Hello everyone! Anyone remember me?
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Post by coogaruk on Jan 8, 2021 13:03:32 GMT
62%! Damn near 2/3! That's a lot more than I was expecting to ever see again... <happy dance> And there may yet be more...! I am, frankly, gobsmacked and in a VERY good way. Pretty good recovery percentage had this been an unsecured loan but pretty pants given that it was 'secured' against a valuable asset.
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r00lish67
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Post by r00lish67 on Jan 8, 2021 13:07:28 GMT
62%! Damn near 2/3! That's a lot more than I was expecting to ever see again... <happy dance> And there may yet be more...! I am, frankly, gobsmacked and in a VERY good way. Pretty good recovery percentage had this been an unsecured loan but pretty pants given that it was 'secured' against a valuable asset. Would you be interested in buying a vintage secured shipping container loan from me, by any chance?
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adrianc
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Post by adrianc on Jan 8, 2021 13:42:57 GMT
62%! Damn near 2/3! That's a lot more than I was expecting to ever see again... <happy dance> And there may yet be more...! I am, frankly, gobsmacked and in a VERY good way. Pretty good recovery percentage had this been an unsecured loan but pretty pants given that it was 'secured' against a valuable asset. Mate, I've had far bigger losses than 1/3 from other secured loans...
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rogerthat
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Post by rogerthat on Jan 8, 2021 13:43:04 GMT
62%! Damn near 2/3! That's a lot more than I was expecting to ever see again... <happy dance> And there may yet be more...! I am, frankly, gobsmacked and in a VERY good way. Pretty good recovery percentage had this been an unsecured loan but pretty pants given that it was 'secured' against a valuable asset. Clearly it's easier to please some, than others. I lost c£380 out of £1K capital. I also lost a significant amount of interest to wit..5yrs and 4 months worth (£650 +/- ?) ...the majority of that time at 12% (so we were informed). As a direct result of FC's "dream team" and their incompetence AND despite investor protestations at the time, FC went ahead but failed to ensure that a watertight security had been established in the event of default "I am, frankly, gobsmacked and in a VERY good way." I too am frankly gobsmacked, but for slightly different reasons !
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adrianc
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Post by adrianc on Jan 8, 2021 15:29:41 GMT
I lost c£380 out of £1K capital. I also lost a significant amount of interest to wit..5yrs and 4 months worth (£650 +/- ?) ...the majority of that time at 12% (so we were informed). As a direct result of FC's "dream team" and their incompetence AND despite investor protestations at the time, FC went ahead but failed to ensure that a watertight security had been established in the event of default "I am, frankly, gobsmacked and in a VERY good way." I too am frankly gobsmacked, but for slightly different reasons ! Can I presume that you ignored the whole concept of "diversification"? That you had rather an imbalance between eggs and baskets? Yes, the security was a sham. We did that whole thing years ago. That ship sailed. Since 2017, he says charitably, it's all been about how little we'll get back. I was working on the basis that anything would be an improvement over expectations... I put FAR too much into this one, blinded by the "short term" (what could possibly?) claim - October 2015 to May 2016. I'm happy to admit that I had 5% of my FC balance in it. WAY too much. A larger percentage, I think, than I had in any one non-trivial loan on any other platform.
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rogerthat
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Post by rogerthat on Jan 8, 2021 16:58:26 GMT
I lost c£380 out of £1K capital. I also lost a significant amount of interest to wit..5yrs and 4 months worth (£650 +/- ?) ...the majority of that time at 12% (so we were informed). As a direct result of FC's "dream team" and their incompetence AND despite investor protestations at the time, FC went ahead but failed to ensure that a watertight security had been established in the event of default "I am, frankly, gobsmacked and in a VERY good way." I too am frankly gobsmacked, but for slightly different reasons ! Can I presume that you ignored the whole concept of "diversification"? That you had rather an imbalance between eggs and baskets? Yes, the security was a sham. We did that whole thing years ago. That ship sailed. Since 2017, he says charitably, it's all been about how little we'll get back. I was working on the basis that anything would be an improvement over expectations... I put FAR too much into this one, blinded by the "short term" (what could possibly?) claim - October 2015 to May 2016. I'm happy to admit that I had 5% of my FC balance in it. WAY too much. A larger percentage, I think, than I had in any one non-trivial loan on any other platform. You can presume what you like...it doesn't alter the material facts nor the outcome. FC stuffed up by their own lack of (in)adequate diligence..they should reimburse investors their loss of capital, if nothing else.
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adrianc
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Post by adrianc on Jan 8, 2021 17:11:25 GMT
Can I presume that you ignored the whole concept of "diversification"? That you had rather an imbalance between eggs and baskets? Yes, the security was a sham. We did that whole thing years ago. That ship sailed. Since 2017, he says charitably, it's all been about how little we'll get back. I was working on the basis that anything would be an improvement over expectations... I put FAR too much into this one, blinded by the "short term" (what could possibly?) claim - October 2015 to May 2016. I'm happy to admit that I had 5% of my FC balance in it. WAY too much. A larger percentage, I think, than I had in any one non-trivial loan on any other platform. You can presume what you like...it doesn't alter the material facts nor the outcome. No, I know it doesn't. But it does drastically affect how serious the knock-on is to your total return. Yes, I know they did. To nobody's massive surprise. On this, and on many other loans. Along with, frankly, most platforms. Good luck with that. Donald Trump might become a nice person first.
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blender
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Post by blender on Jan 9, 2021 16:44:20 GMT
You can presume what you like...it doesn't alter the material facts nor the outcome. No, I know it doesn't. But it does drastically affect how serious the knock-on is to your total return. Yes, I know they did. To nobody's massive surprise. On this, and on many other loans. Along with, frankly, most platforms. Good luck with that. Donald Trump might become a nice person first. There was a time, when the earth was still cooling, that FC would refund investors ex-gratia if a loan made no payments - on the basis that it was indicative of a loan which should not have been made. The turning point was crappy scrappy - where a loan was made to persons with criminal involvement - stolen brass instruments melted down. See the brass instruments in this classic post p2pindependentforum.com/post/75739/thread FC did not refund and since then FC has never refunded loan capital. The computer is infallible, cannot make a lending mistake.
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adrianc
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Post by adrianc on Jan 9, 2021 17:16:47 GMT
There was a time, when the earth was still cooling, that FC would refund investors ex-gratia if a loan made no payments - on the basis that it was indicative of a loan which should not have been made. The turning point was crappy scrappy - where a loan was made to persons with criminal involvement - stolen brass instruments melted down. See the brass instruments in this classic post p2pindependentforum.com/post/75739/thread FC did not refund and since then FC has never refunded loan capital. The computer is infallible, cannot make a lending mistake. Ah, the crappy scrappy and Sgt P-to-P'ers Loany Hearts... They were happy days! <lost in the mists of time> Scrappy was a bit before my time - just - I think.
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agent69
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Post by agent69 on Jan 9, 2021 17:44:29 GMT
There was a time, when the earth was still cooling, that FC would refund investors ex-gratia if a loan made no payments - on the basis that it was indicative of a loan which should not have been made. The turning point was crappy scrappy - where a loan was made to persons with criminal involvement - stolen brass instruments melted down. See the brass instruments in this classic post p2pindependentforum.com/post/75739/thread FC did not refund and since then FC has never refunded loan capital. The computer is infallible, cannot make a lending mistake. Ah, the crappy scrappy and Sgt P-to-P'ers Loany Hearts... They were happy days! <lost in the mists of time> Scrappy was a bit before my time - just - I think. AKA Copper load of this ....... I remember it well (and am still waiting for my £40 to be repaid).
I recall a great big hairy primate getting particularly emotional whenever it was mentined.
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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 Jan 9, 2021 18:45:51 GMT
Ah, the crappy scrappy and Sgt P-to-P'ers Loany Hearts... They were happy days! <lost in the mists of time> Scrappy was a bit before my time - just - I think. AKA Copper load of this ....... I remember it well (and am still waiting for my £40 to be repaid).
I recall a great big hairy primate getting particularly emotional whenever it was mentined. I'm sure the NURSE is being summoned as we type.
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Post by crabbyoldgit on Jan 9, 2021 20:15:15 GMT
where is the hairy one , miss him . Are you still out there, had one to many bannana punch or moved on past peer to peer . Talk of which, the london gentleman seems to have disappeared , got out in good time i wonder. Should have listened a bit deeper to him but he still has probably saved me from an overall loss. Only in AC now got out of all the other sites in good profit, well better than the bank rates anyway.In slow withdrawl now with not a clue where to go next, miss the good old days, never mind.
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blender
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Post by blender on Jan 9, 2021 22:45:30 GMT
where is the hairy one , miss him . Are you still out there, had one to many bannana punch or moved on past peer to peer . Talk of which, the london gentleman seems to have disappeared , got out in good time i wonder. Should have listened a bit deeper to him but he still has probably saved me from an overall loss. Only in AC now got out of all the other sites in good profit, well better than the bank rates anyway.In slow withdrawl now with not a clue where to go next, miss the good old days, never mind. If by the hairy one you mean the OP of this thread, unfortunately he was one of those who were cast out and banished to Fr*nk Island. The population has nearly died out there, but it is possible that the hairy one still makes the occasional post there under a similar name, maybe still complaining about this loan. P2P is tough.
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