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Post by moto on Nov 9, 2014 15:16:06 GMT
Ha Yeah, a big assumption. We'll it will be interesting to see when this one gets resolved then.
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blender
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Post by blender on Nov 9, 2014 16:56:52 GMT
This failure to distribute the repayments looks very different from previous occurrences. It is as if time has stood still since Friday. Repayments have not been distributed, but 'my loans' has not stepped on so that 8th Nov is in the future, repayments from that date are scheduled, not processing, and the loan parts which were for sale are still for sale. Presumably you can list for sale those due for repayment on 8th or 9th. It is nothing to do with collections because the two I am missing on 8th and 9th are both interest only property loans, for which FC collect all the interest from us up front in order to pay it back to us monthly as if the borrower were paying interest when in fact it is being rolled up. (A stupid system). So the clock has stopped in that area and time stands still. Either they are all off for the weekend and will panic tomorrow, or perhaps this is some planned activity - reconciliation weekend - and they are all at work. Not our business of course, by my money is on the first option - discovery and panic tomorrow, in which case it seems quite serious.
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Post by GSV3MIaC on Nov 9, 2014 17:20:20 GMT
'Not our business?' ... Hey, they got my money, so IMO it is definitely my business!!
SM sales are still happening, so time is not quite frozen, which is what I might expect if they are all off trying to balance the books before the full might of the FCA comes banging on the door, enquiring as to why a financial company can't provide accounts which actually add up.
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blender
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Post by blender on Nov 9, 2014 19:47:21 GMT
'Not our business?' ... Hey, they got my money, so IMO it is definitely my business!! SM sales are still happening, so time is not quite frozen, which is what I might expect if they are all off trying to balance the books before the full might of the FCA comes banging on the door, enquiring as to why a financial company can't provide accounts which actually add up. I was indulging in the lowest form of wit there with the 'not our business'. SM sales are really down today but not zero. I mean that time has stood still only on the repayments, which makes me suspicious that they may be doing something without telling us, which requires the auto updating of accounts (other than sales?) to be suspended until it is complete, then it will roll forward and hopefully avoid the need to roll back. BUT this is FC so probably its a c*ck-*p rather than a cunning and secret plan.
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fasty
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Post by fasty on Nov 9, 2014 23:09:44 GMT
I notice that there's now (Sunday night) a banner up on FC summary page apologising that "Repayments failed to run since the 8th of November..." etc
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blender
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Post by blender on Nov 9, 2014 23:13:46 GMT
This should be fun. 8049 should have paid today but did not and is still scheduled for 9th Nov and live. Being a property loan my parts in it are for sale at par and today one £20 loan part has been sold. So I have 13p interest for the month in cash and presumably the purchaser has accrued interest of 13p+. But who will pay the monthly part of the 1% fee (2p) which I should have paid? Presumably the purchaser, but I will not spend my ill gotten gains yet. FC have confirmed the c*ck-*p theory in another place - surprise.
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spyrogyra
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Post by spyrogyra on Nov 10, 2014 10:39:11 GMT
Imagine if there are no technical safeguards in a situation like this. And interest is distributed to both parties (sellers and buyers).Could add up quite a lot for three days. And it would be a total nightmare to deal with the mess.What if a loan part is sold on or after the payment day but payment is not received?
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adrianc
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Post by adrianc on Nov 10, 2014 12:26:52 GMT
Saturday 8th has now been processed and distributed...
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oldgrumpy
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Post by oldgrumpy on Nov 10, 2014 12:38:57 GMT
Gee! I got £3.01 !! Won't get much of 8664 with that!  |
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blender
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Post by blender on Nov 10, 2014 13:15:16 GMT
8664 looks good but if you cannot get your £3.01 on that then I would suggest that you can get a good bunch of bananas for that. It might be better than rolling it forward to 8636, which looks like one of FC's new style A+, perhaps already sniffed over by the wholeloaners.
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oldgrumpy
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Post by oldgrumpy on Nov 10, 2014 13:26:42 GMT
FC don't actually know what the expression A+ actually means. To me, A+ means that there are no weaknesses at all in a company's background financial or trading position, so even one question mark (such as credit score below 90) IMMEDIATELY should relegate a rating to A or lower. I wonder at what rate 8636 was offered as a whole loan - or isn't it done that way? PS four kilos + of bananas will last me nearly three breakfasts  |
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Post by yorkshireman on Nov 10, 2014 13:47:52 GMT
8664 looks good but if you cannot get your £3.01 on that then I would suggest that you can get a good bunch of bananas for that. It might be better than rolling it forward to 8636, which looks like one of FC's new style A+, perhaps already sniffed over by the wholeloaners. That’s assuming you’re lucky enough to be able to actually access the FC website.
Pardon my French but the site is cr*p. From that you would be correct in assuming I failed to get a late bid on 8664. 
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adrianc
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Post by adrianc on Nov 10, 2014 13:53:22 GMT
8664 was working fine for me right up until the end, and there was a hefty enough last-minute flurry that I'd suspect it wasn't a widespread problem. Everything went 502: Bad Gateway for a minute or so immediately afterwards, though...
The yellow "Nothing since the 8th" banner has now gone, but still nothing happening with yesterday or today's distributions. It's quite comical, in a way.
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wysiati
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Post by wysiati on Nov 10, 2014 13:56:26 GMT
8664 looks good but if you cannot get your £3.01 on that then I would suggest that you can get a good bunch of bananas for that. It might be better than rolling it forward to 8636, which looks like one of FC's new style A+, perhaps already sniffed over by the wholeloaners. Pardon my French but the site is cr*p. From that you would be correct in assuming I failed to get a late bid on 8664.
Likely to soon be available at 0% premium if it is really the loan exposure you considered attractive.
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oldgrumpy
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Post by oldgrumpy on Nov 10, 2014 13:58:18 GMT
tough crumble yorkshireman . I am getting slowish connection but no real problems this afternoon. I worked 8664 by pretending it was a minute behind the times, so ended up missing the nonsense at the end by having some 10.2% and a small backup of 10.1% placed by the time the clock ran down to 60 seconds. Forget 8636 though. I'd rather help the theatre company because of what they do! but I've run out of readies, and I'm not putting more money in FC at present. |
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