treeman
Member of DD Central
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Post by treeman on Aug 23, 2017 19:24:41 GMT
Yup -hold the transfer! Weasel! I'm not on FS but maybe someone who is could whisper in their ear..............
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Aug 23, 2017 19:27:17 GMT
Similar position to others, may be doing my first test of the withdrawal system as I've sent some money over to buy into this tomorrow too. But I'm glad they discovered this, pulled the loan, and were planning to hold possession of the painting during the loan. So perhaps they are slightly more professional than some as I mused this morning. Unbolted are head and shoulders ahead of the competition in many ways. Asset holding, recoveries, comms I could go on. 
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Post by dan1 on Aug 23, 2017 19:32:29 GMT
Yup -hold the transfer! Weasel! I'm not on FS but maybe someone who is could whisper in their ear.............. I pinged an email to Unbolted asking whether FS were aware of the situation.
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Post by dan1 on Aug 23, 2017 19:36:47 GMT
Pulled the Munnings over doubt in title holding. Borrower may have loan elsewhere, by implication, using same collateral? It's part of an active loan on FS (3020915407) with 101 days remaining! Now available at a discount on FS and it has 101 days to run.
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Post by keyboardworrier on Aug 23, 2017 19:37:34 GMT
Good work by Unbolted to spot this!
Imagine being invested in this loan on FS and knowing the owner of the painting was about to give possession of it to someone else. I think I made the right decision by avoiding FS.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Aug 23, 2017 19:56:35 GMT
Errrrr, because it's not their money at risk? More and more negative information coming out of the woodwork on a Daily basis now re various P2P Platforms. And it's gonna get worse. A lot worse. VERY pleased to see that everyone has now, finally, woken up to the various Valuations Reports and LTVs Scam Racket. But, as I knew it would, it's taken LOSSES for Investors to realise the full implications. Now, where's my Badge?!!  Aaaaannnnddd dismount! No, I like the view from arp here!
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,156
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Post by ozboy on Aug 23, 2017 20:01:14 GMT
Are you all giving Unbolted a tad tooooooooo much credit? Wasn't the fact that the painting was also part of an existing loan with FS flagged up on here by one of our own switched on and learned *colleagues?
And Unbolted then acted accordingly? Albeit swiftly, honourably & satisfactorily.
EDIT: *stub8535 and *dan1 Moderator.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,156
Likes: 4,830
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Post by ozboy on Aug 23, 2017 20:10:08 GMT
Very good work Unbolted rito , thank you.
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Now fundingsecure ,
one wonders just how (apparently) slack you need to be before you realise that the vast sums of money that pass through your hands actually belong to your Clients therefor both they and it should be afforded the maximum respect and protection.
Slack to let you understand is a rather tame word for me to use I'd have preferred to employed one far more succinct but this is public domain.
Bring all Pawned items into an appropriate and secure storage facility. Of course you should take possession of the Security wherever practical. No brainer common sense if it's your money. But if it's not your money, then the Borrower's word is alright then isn't it.
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Post by dan1 on Aug 23, 2017 20:11:59 GMT
Are you all giving Unbolted a tad tooooooooo much credit? Wasn't the fact that the painting was also part of an existing loan with FS flagged up on here by one of our own switched on and learned *colleagues? And Unbolted then acted accordingly? Albeit swiftly, honourably & satisfactorily. EDIT: *stub8535 and *dan1 Moderator. It wasn't stub8535 or dan1 who alerted Unbolted (correct me if I'm wrong, stub8535 !). Our comments followed the email from Unbolted pulling the loan. My guess is that it was another lender, perhaps one who doesn't use the forum. Unbolted do deserve credit in that they were due to take possession of the asset prior to releasing funds. This infers that FS do not hold the asset, or perhaps unlikely, that their loan would have settled prior to possession passing to Unbolted.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
Posts: 1,442
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Post by stub8535 on Aug 23, 2017 20:19:51 GMT
Are you all giving Unbolted a tad tooooooooo much credit? Wasn't the fact that the painting was also part of an existing loan with FS flagged up on here by one of our own switched on and learned *colleagues? And Unbolted then acted accordingly? Albeit swiftly, honourably & satisfactorily. EDIT: *stub8535 and *dan1 Moderator. It wasn't stub8535 or dan1 who alerted Unbolted (correct me if I'm wrong, stub8535 !). Our comments followed the email from Unbolted pulling the loan. My guess is that it was another lender, perhaps one who doesn't use the forum. Unbolted do deserve credit in that they were due to take possession of the asset prior to releasing funds. This infers that FS do not hold the asset, or perhaps unlikely, that their loan would have settled prior to possession passing to Unbolted. I was blind sided and going in large tomorrow. Some artists produce diff versions of their pictures and use the same title. I thank the person that tipped off unbolted too. You could be right ozboy that the loans that included this painting in the old valuation were both going to be settled. Could fs be the other title holder for the art? Could be!
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ben
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Post by ben on Aug 23, 2017 20:28:58 GMT
Glad that they have pulled it, however they did say that the investor was a certified HNW individual, so certified by who? as he is obviously pretty dodgy if he already has a loan against the assets on FS (more fool them for not holding it, nice to see they are still competent).
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,156
Likes: 4,830
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Post by ozboy on Aug 23, 2017 20:34:33 GMT
It wasn't stub8535 or dan1 who alerted Unbolted (correct me if I'm wrong, stub8535 !). Our comments followed the email from Unbolted pulling the loan. My guess is that it was another lender, perhaps one who doesn't use the forum. Unbolted do deserve credit in that they were due to take possession of the asset prior to releasing funds. This infers that FS do not hold the asset, or perhaps unlikely, that their loan would have settled prior to possession passing to Unbolted. I was blind sided and going in large tomorrow. Some artists produce diff versions of their pictures and use the same title. I thank the person that tipped off unbolted too. You could be right ozboy that the loans that included this painting in the old valuation were both going to be settled. Could fs be the other title holder for the art? Could be! As I said earlier, there's more and more carp coming out of the P2P woodwork daily now. Bar one or more providers, they really are very, very untrustworthy Platforms. Will someone please go round and wake The FCA up from their stupor.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
Posts: 1,442
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Post by stub8535 on Aug 23, 2017 20:39:54 GMT
I was blind sided and going in large tomorrow. Some artists produce diff versions of their pictures and use the same title. I thank the person that tipped off unbolted too. You could be right ozboy that the loans that included this painting in the old valuation were both going to be settled. Could fs be the other title holder for the art? Could be! As I said earlier, there's more and more carp coming out of the P2P woodwork daily now. Bar one or more providers, they really are very, very untrustworthy Platforms. Will someone please go round and wake The FCA up from their stupor. Fca priblem is that they dont have anyone that has invested through the whole process in any platform. They rely on the data they are given by the platforms. Until they get a team of ozboys on board the issues are not going to get solved.
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ben
Posts: 2,020
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Post by ben on Aug 23, 2017 20:42:49 GMT
I was blind sided and going in large tomorrow. Some artists produce diff versions of their pictures and use the same title. I thank the person that tipped off unbolted too. You could be right ozboy that the loans that included this painting in the old valuation were both going to be settled. Could fs be the other title holder for the art? Could be! As I said earlier, there's more and more carp coming out of the P2P woodwork daily now. Bar one or more providers, they really are very, very untrustworthy Platforms. Will someone please go round and wake The FCA up from their stupor. I think you are hoping for too much from the FCA, you just have to look at everything that some of the big banks get up to, most of them would make an African dictator blush with embarrassment.
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,442
Likes: 945
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Post by stub8535 on Aug 23, 2017 20:46:53 GMT
As I said earlier, there's more and more carp coming out of the P2P woodwork daily now. Bar one or more providers, they really are very, very untrustworthy Platforms. Will someone please go round and wake The FCA up from their stupor. I think you are hoping for too much from the FCA, you just have to look at everything that some of the big banks get up to, most of them would make an African dictator blush with embarrassment. Oh ben! How could you possibly imply that bankers are anything but upstanding fair minded people working for the good of the customers whilst protecting stakeholders👿
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