Issues associated with trust in this platform

You're right, we know that this is high risk investing and that there will be losses that will reduce the overall return. But we should be able to trust the platform. I might have been able to continue with FS had the they reacted appropriately when informed that all was not well at Whitehaven, but to send out yet more reassuring updates while still not checking what the borrower was telling them was unforgivable.

So, when they have a loan red flagged by lenders and they still don't check the borrower is telling the truth, you have to ask yourself what else borrowers are getting away with because nobody is checking up.

I still have some 20k of "not available for sale" loans with FS and I fear some of these are going to go bad at least partly because FS are not doing their job of due diligence before lending and monitoring DFL loans. I too cannot recommend this platform to anybody at present.

FS is my favourite platform, I invest little and often, typically in 70 or more loans, never had a problem. Would recommend

I too am happy here. I have reduced nearly all my propery loans from 70% to 60% and 65% for what  it is debateably really worth, but I think risk reward is about right. Yes lots of changes are needed but at present maintaining my balances (if I got some more repayments on outstanding loans it would help confidence ). 
Surely some pretty pictures from developers would help confidence to us all, something in facility/ agreement letters?

Are those LTVs your own "In-House Calculated" ones daveb4?

Or the exceptionally accurate ones provided by The Borrower/The Platform/The Beyond Reproach Honest John RICS "Specialist"??    

And yes, recent photographs would go a loooooooooooong way.

When we sign up we agree that we may lose some or all of our capital. People seem to put all the focus on the yield when investing and not think about the negatives that could occur.

I personally don't invest more than £50 per loan, it can take a long time to invest a large amount of money but it gives me more peace of mind. When I look at the recent investments and see people invest £10k plus I ask myself, do they really understand the risks or do they just see the 12% a year return?

I would advise everyone reading this to read The Forth Cure from Seven Cures for a Lean Purse.

"When I look at the recent investments and see people invest £10k plus I ask myself, do they really understand the risks or do they just see the 12% a year return?"

You know as well as me and everyone else does that £10K+++ to a BH is chickenfeed, and I'd wager they completely understand the Risks, they certainly see the 12% + Bonuses that's for sure.

"One Bad Debt isn't enough" - But it's not just one is it, that's why I asked you for your definition.  
Mine is, regardless of what the Platform says, that if the Borrower hasn't paid zilch for 6 months or more, then it's a Bad Debt.

Errrrrr, and there's a few of them.  Try 12 months even.  

   ......................... actually,    


PS: You didn't answer my Question: "What's your definition of a Bad Debt?"

I'd mention ................................................................ RISHTON !!!

So that's, errrr, at least FOUR now, FIVE if you care to count Trainy Things, SIX if ...............................   

And before I get the usual pontificating postings about High Risk/High Rewards, You don't get 13% for nothing, Blah Blah - The point I believe we are on about here is the way that these Late Payers/Bad Debts/Defaults/ Naughty Boys (Girls?) are not only arguably being (mis)handled, but certainly the complete absence of any meaningful Updates on Vot ist happening?!!!!