gurberly
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Post by gurberly on Sept 22, 2017 12:13:34 GMT
In other news, the TVR has just been defaulted, anyone wanna buy a TVR for circa £6,500? Good news regarding the TVR, a fresh update just landed Auction sale completed - loan fully repaid, including all interest to-date. Yes monies now back on my account. At least this one has been handled deftly. Only a few weeks from being overrun/unredeemed and off to auction.
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mikes1531
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Post by mikes1531 on Sept 22, 2017 16:14:10 GMT
Good news regarding the TVR, a fresh update just landed Auction sale completed - loan fully repaid, including all interest to-date. Yes monies now back on my account. At least this one has been handled deftly. Only a few weeks from being overrun/unredeemed and off to auction. Are we starting to see a pattern here? Loans where FS are confident they can achieve full recovery have the security put up for sale promptly. Loans where full recovery is less sure, drag on -- which, of course, makes a full recovery even harder to achieve.
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gurberly
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Post by gurberly on Sept 22, 2017 17:48:22 GMT
Yes monies now back on my account. At least this one has been handled deftly. Only a few weeks from being overrun/unredeemed and off to auction. Are we starting to see a pattern here? Loans where FS are confident they can achieve full recovery have the security put up for sale promptly. Loans where full recovery is less sure, drag on -- which, of course, makes a full recovery even harder to achieve. Don't know. This was a very small loan with (I think) a realistic LTV achievable at auction. Also probably less complicated than many others being a straight forward pawn loan. Whilst there is no provision fund, FS have (correct me if I'm wrong) dipped into their own pockets in the past to ensure investors do not lose out - though that could have been where they are at perceived fault. This loan is that small it would be a drop in the ocean.
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mikes1531
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Post by mikes1531 on Sept 23, 2017 14:30:52 GMT
Whilst there is no provision fund, FS have (correct me if I'm wrong) dipped into their own pockets in the past to ensure investors do not lose out - though that could have been where they are at perceived fault. This loan is that small it would be a drop in the ocean. Yes, AIUI FS have done that in the past. But IIRC those occasions have been for small loans, and FS could protect their track record of no -- or minimal -- losses for investors with only a small outlay. I'm not aware of them doing anything like this recently, and with large loans and bigger losses it would be a lot more expensive for them to do this. It should be pointed out that FS do not publish 'accounts' for individual loan recoveries, so it's impossible for us to know how the proceeds we're paid from a recovery compare to the actual proceeds. Unless FS tell us they've topped up the proceeds in order to reduce investors' losses, we'd not be aware of it. This is one of many areas where we simply have to trust a platform to do the right thing.
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Liz
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Post by Liz on Sept 23, 2017 14:41:51 GMT
I' m a bit disappointed at the lack of updates this week on overdue loans🤔
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duck
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Post by duck on Sept 23, 2017 15:54:41 GMT
I' m a bit disappointed at the lack of updates this week on overdue loans🤔 Whilst some loans are updated on Friday and Saturday (and occasionally during the week) my main checking of updates is always on Sunday, that is when the bulk appear for me.
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madpierre
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Post by madpierre on Sept 23, 2017 17:28:14 GMT
I' m a bit disappointed at the lack of updates this week on overdue loans🤔 Whilst some loans are updated on Friday and Saturday (and occasionally during the week) my main checking of updates is always on Sunday, that is when the bulk appear for me. Yes Sunday has also become the day of shattered hopes for me too 
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Sept 24, 2017 2:50:50 GMT
Whilst there is no provision fund, FS have (correct me if I'm wrong) dipped into their own pockets in the past to ensure investors do not lose out - though that could have been where they are at perceived fault. This loan is that small it would be a drop in the ocean. Yes, AIUI FS have done that in the past. But IIRC those occasions have been for small loans, and FS could protect their track record of no -- or minimal -- losses for investors with only a small outlay. I'm not aware of them doing anything like this recently, and with large loans and bigger losses it would be a lot more expensive for them to do this. It should be pointed out that FS do not publish 'accounts' for individual loan recoveries, so it's impossible for us to know how the proceeds we're paid from a recovery compare to the actual proceeds. Unless FS tell us they've topped up the proceeds in order to reduce investors' losses, we'd not be aware of it. This is one of many areas where we simply have to trust a platform to do the right thing.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
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Post by ozboy on Sept 24, 2017 2:56:58 GMT
Ho Ho Ho, just popping in briefly on my travels and using a tablet which y'all know is a pig to use - well, for moi anyway.
Just like to say pleased to see things still the same old SNAFU - "just have to trust the platform" made my day -carry on!
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Sept 24, 2017 2:58:50 GMT
And "to do the right thing" had me weeping.
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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 Sept 24, 2017 3:00:55 GMT
PS Not a dig at you mikes1531, I understand your meaning.
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Liz
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Post by Liz on Sept 24, 2017 21:04:29 GMT
Whilst some loans are updated on Friday and Saturday (and occasionally during the week) my main checking of updates is always on Sunday, that is when the bulk appear for me. Yes Sunday has also become the day of shattered hopes for me too I'm still waiting for these updates. 🙈
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duck
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Post by duck on Sept 25, 2017 5:49:40 GMT
Yes Sunday has also become the day of shattered hopes for me too I'm still waiting for these updates. 🙈 Most of my expected updates turned up, a couple didn't but I prefer that to 'continuing'.
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Liz
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Post by Liz on Sept 25, 2017 8:25:58 GMT
I'm still waiting for these updates. 🙈 Most of my expected updates turned up, a couple didn't but I prefer that to 'continuing'. I''m still waiting on all of my updates 😭
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madpierre
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Post by madpierre on Sept 25, 2017 19:14:20 GMT
Most of my expected updates turned up, a couple didn't but I prefer that to 'continuing'. I''m still waiting on all of my updates 😭 I think you'll find your updates are 'on-going' 
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