jm72
Posts: 109 
Likes: 2
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Post by jm72 on Jul 25, 2014 13:23:41 GMT
Loan 5309 is in administration - according to a reputable website
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baz657
Member of DD Central
Posts: 500
Likes: 189
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Post by baz657 on Jul 25, 2014 13:25:54 GMT
Also on Mod removed...
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jm72
Posts: 109
Likes: 2
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Post by jm72 on Jul 25, 2014 13:32:46 GMT
Wasn't sure whether that was skirting too close to identifying company by name! Let the moderators decide 
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baz657
Member of DD Central
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Post by baz657 on Jul 25, 2014 13:38:26 GMT
It's already all over the net and has been since this morning. Hopefully somebody from FC will notice and take it off the SM.
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jm72
Posts: 109
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Post by jm72 on Jul 25, 2014 13:41:17 GMT
It's already all over the place and has been since this morning. Hopefully somebody from FC will notice and take it off the SM. Anybody want to run a sweepstake to see whether it goes RBR before close of play tonight? If not, I can see autobidders getting a lot of loan parts over the weekend. Should be a good test to see how good FC underwriters are at monitoring adverse events on the loan book!
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chrisf
Member of DD Central
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Post by chrisf on Jul 25, 2014 13:57:50 GMT
I am probably evil but I did chuckle slightly when I saw the picture which accompanies the news report, Mod removed. Is that a good way for a struggling business to spend its money?
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jm72
Posts: 109
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Post by jm72 on Jul 25, 2014 14:01:34 GMT
Well - some people are reading this forum. The number of Loan Parts is going up (albeit very slowly), or maybe the autobidders are hungry today and purchasing as fast as parts are listed!
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chrisf
Member of DD Central
Posts: 224
Likes: 67
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Post by chrisf on Jul 25, 2014 14:21:54 GMT
RBR - There it goes
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baz657
Member of DD Central
Posts: 500
Likes: 189
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Post by baz657 on Jul 25, 2014 14:30:11 GMT
You would hope that FC spotted this using their own systems and not by reading about it here.
You would hope..............
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mikeb
Posts: 1,071
Likes: 472
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Post by mikeb on Jul 25, 2014 17:55:30 GMT
All the people lucky enough to have bought loan parts in this will be fuming when they realize what's happened -- yet another one where word is "out" that the company has gone TU, yet Funding Circle allow sale of loan parts to mugs, er, incautious investors.
As long as they get their %ge, eh?
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Post by elljay on Jul 26, 2014 6:18:30 GMT
[Mod hat on] I've edited one post to remove identifying details. It's not just naming the company that can identify them. There's only one current news story that matches the detail chrisf posted. Took me about 30 seconds to find on Mod removed. Please be careful what you post. |
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Post by mogzi on Jul 26, 2014 9:01:27 GMT
I found the company seconds after reading this post.
IMO it is still very easily identifiable from the information posted
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Post by GSV3MIaC on Jul 26, 2014 15:54:26 GMT
Maybe we need a 'private' indie FC forum then, except I guess that would require FC to cooperate in identifying signed up FC members. Having bid on almost all the loans (£20 at 15%), and having carefully stored the URLs for the loan requests, it isn't hard to find anything any time. I don't see how you can get around the problem, except by not mentioning that XYZ loan has been mentioned on Mod removed, Due Dil, London Gazette, or whatever.... which sort of defeats the point of a forum.
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Post by davee39 on Jul 26, 2014 17:08:45 GMT
We have a comment that loan abcd is linked to an unamed company which has entered administration, accompanied by a comment that the administration has been reported on public news sites. A look at the Mod removed shows company XYZ is in administration. At this point no direct link can be made, there could be other companies in trouble (In this case I thought initially it referred to a vehicle parts supplier which has been in the news). Because the loan was available for sale it was possible to make a link for signed in FC members.
I think in this case the moderation was fair and reasonable given that the post provided a direct link to a specific news report.
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Post by GSV3MIaC on Jul 26, 2014 19:05:05 GMT
I agree the moderation was reasonable, but we can still ID the company rather easily by mention of the word Mod removed 8>.
You don't need parts to be for sale if you ever bid on it, or own any, of course .. you can get to the loan request page (and comments) anyway.
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