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Post by grahamreeds on May 10, 2017 23:48:03 GMT
Turnover of £13m, profits of £400k. Placed into administration shortly after receiving a CCJ and only making 4 payments on a £300k loan.
A Google search hasn't revealed much (or I am searching for the wrong terms (M########E C##########N L#####D CCJ). Without paying for a report how can I find out what that CCJ entails and what was so catastrophic that they are going into administration?
Just as my fees were about to overtake my losses too.
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Post by longjohn on May 11, 2017 0:53:29 GMT
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justme
Member of DD Central
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Post by justme on May 11, 2017 6:52:19 GMT
A bit off topic , sorry - I find it annoying that unless a loan has parts for sale or I saved it in my watch list I can not have a look at its description. For example I wanted to have a look at this one but could not.
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Post by grahamreeds on May 11, 2017 8:43:26 GMT
I had looked on Companies House but that lists it as active. I checked the filings and the turnovers match.
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metoo
Member of DD Central
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Post by metoo on May 11, 2017 12:41:45 GMT
A bit off topic , sorry - I find it annoying that unless a loan has parts for sale or I saved it in my watch list I can not have a look at its description. For example I wanted to have a look at this one but could not. I agree it doesn't seem right we can't see the details of loans that have gone bad, to try to understand more. Unless you own a part or originally bid on a loan, loan pages aren't available once the risk band has been removed.
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justme
Member of DD Central
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Post by justme on May 11, 2017 14:33:12 GMT
It is not only that I can not see the details of loans that went bad. I can not see even their numbers or that they exist. Sometimes I try to see a loan on my watch list clicking on its name but instead of window with loan details I have current loan requests page loaded. I wonder whether those disappeared loans are the defaulted ones or there is other explanation to it happening ? I suppose I should write FC and ask.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on May 11, 2017 15:05:10 GMT
All part of Futile Claims policy of making sure as little as possible information about the loans which default can be seen by anyone not in the loans, especially potential new lenders.
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markr
Member of DD Central
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Post by markr on May 11, 2017 15:49:32 GMT
This has always been the way FC has worked. You can only see the loan details if you have a reason to be interested in it, which is when:
(1) The loan is listed on the primary market
(2) At least one loan part is listed on the secondary market
(3) You have owned at least one part in the loan, even if you have subsequently sold all of your holding
What doesn't count is:
(1) Adding a loan to your watch list but not buying it
(2) [In the old days] Bidding on a loan but having all of your bids knocked out
This means it's not possible to see the details of a downgraded loan you haven't been involved with (since no secondary market parts will be available), even if you have the correct link to the page you will get redirected to the loan requests page.
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Post by GSV3MIaC on May 12, 2017 9:32:37 GMT
Actually 'bidding but having your bids knocked out' did count, which is why I can still see almost all old loans.
And I =thought= having them on your watchlist got you there too, but I can't check since only the computer had a watchlist.
Another interesting obscurity is that if you look at your 'loan parts sold' report, you won't see any entries for loans which have (subsequently) gone pop. Makes racking up totals (from that report) impossible.
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Post by grahamreeds on May 15, 2017 9:11:27 GMT
And Companies House now shows them as being In Administration.
(Link removed to prevent identification of borrower)
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Post by grahamreeds on May 15, 2017 9:20:35 GMT
And another large turnover firm has filed (31351).
10m turnover, admittedly running a loss of 44k but that is just a developer or two. Takes a 150k loan and makes 3 payments before shutting up shop. I think this was an A loan (8.5%, 36 months).
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sussexlender
Member of DD Central
Cheat seeking missile
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Post by sussexlender on May 15, 2017 10:35:02 GMT
Hi GR
Both leave a rather "bitter" taste, don't you think?
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