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TheCountOfNowhere

The Counts Funding Circle Economy Measure

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Just logged into Funding Circle to get some more of my cash out and I was presented with the followin:

  1. We are waiting to receive the proposal of the Company Voluntary Arrangement, which should be with us within the next two weeks.
  2. The legal delay continues to endure
  3. This loan has been downgraded as we have received notification of an adverse credit event in connection with the borrower. We are in the process of contacting the borrower to determine their position#
  4. Annualised return (after fees and bad debts): 2.0%

Bad debt help_grey.png -£59.60 Recoveries help_grey.png +£0.00

If this is indicative of the state of the econonmy, then It's all going wrong.

Got to laugh.

My conclusion, if you liek low risk investments stay clear of FC.

They emailed to say they were going heavily into property ( IIRC ) so for me I refuse to fund them.

Edited by TheCountOfNowhere

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P.S. According to Zopa my account is:

Capital written off this year due to bad debt2 £0.00 Capital recovered from previous years' bad debt3 £0.00

Edited by TheCountOfNowhere

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FC for me has had four comments about late payments but on the whole they are getting paid eventually. I think I've been lucky.

Zopa, rarely look at.

Both of those only have 1k in there with 10k in ratesetter Which seems far more user friendly and less time consuming.

I can't be bothered to spend time researching where to put £20 for the difference between £1 and £1.10.

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FC for me has had four comments about late payments but on the whole they are getting paid eventually. I think I've been lucky.

Zopa, rarely look at.

Both of those only have 1k in there with 10k in ratesetter Which seems far more user friendly and less time consuming.

I can't be bothered to spend time researching where to put £20 for the difference between £1 and £1.10.

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FC for me has had four comments about late payments but on the whole they are getting paid eventually. I think I've been lucky.

Zopa, rarely look at.

Both of those only have 1k in there with 10k in ratesetter Which seems far more user friendly and less time consuming.

I can't be bothered to spend time researching where to put £20 for the difference between £1 and £1.10.

I only gambled £1K in FC and should get most of it back hopefully, already taken out £400. I use it to pay for a monthly direct debit I have so I am effectively getting 2-5% discountt in reality.

Forget housing, give cash a bash :lol::lol:

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Just logged into Funding Circle to get some more of my cash out and I was presented with the followin:

  1. We are waiting to receive the proposal of the Company Voluntary Arrangement, which should be with us within the next two weeks.
  2. The legal delay continues to endure
  3. This loan has been downgraded as we have received notification of an adverse credit event in connection with the borrower. We are in the process of contacting the borrower to determine their position#
  4. Annualised return (after fees and bad debts): 2.0%

Bad debt help_grey.png -£59.60 Recoveries help_grey.png +£0.00

If this is indicative of the state of the econonmy, then It's all going wrong.

Got to laugh.

My conclusion, if you liek low risk investments stay clear of FC.

They emailed to say they were going heavily into property ( IIRC ) so for me I refuse to fund them.

You're probably ahead on all this micro-lending stuff aren't you. I don't know anything about these schemes, micro-lending and all that... apart from a clear statement I made on another thread, that investors make their own financial decisions. It's not money in an Cash ISA earning circa 1%.

Think of others who've been lending recently, only to find more serious disappointment with loans turned bad. Awww.

Below so reminds me of 2008-2010... AndyS, Greg Whathisname, and many other guru-types (just before the Gov's bailout of the baby-boomers and the threat against losing value on their hyperinflated property.

I'm not reading the full 40+ pages.. something about property-investors types lending a guy upward of £1m+ unsecured, and bankruptcy or bankruptcy proceedings.

Towards the end of the thread is a GP saying he got lucky and decided last moment to ask more questions before passing over as much as £50K... and didn't receive any reply to his email of questions.

08-05-2015

The succession of posters telling victims what they should have done - with the benefit of hindsight is becomes tedious and irritating.

None of you were there and you don't know the reasons or circumstances under which individuals loaned to Ben.

There are at least two cases where the money was loaned to help fund the long term nursing care of terminally ill relatives.

So before you all pat yourselves on the back about how clever you are, those of us who are victims of Ben's greed and deceit would appreciate it if you just STF up. You've made your point.

[some more recent background, deep into the thread] http://www.propertytribes.com/ben-rogers-is-simon-zutshi-correct-t-13842-34.html

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