coop
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Post by coop on Feb 19, 2015 9:58:01 GMT
Anyone else have an interest in the above loan? www.fundingcircle.com/loans/51600/auctionAuction ended Feb 5th; on the 12th FC extended the deadline for acceptance and on the 19th still nothing has happened! Has this happened before to anyone and will they backdate interest at all if they do accept? They're basically just holding onto my 60 quid for an unacceptably long time and I wont be happy if they don't accept and I get no interest at all! |
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blender
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Post by blender on Feb 19, 2015 10:35:09 GMT
I do not personally know of any extensions of more than a working day. If they take it you should get interest from the close of the auction.
Correction - it is already taken, first repayment 5th March, parts on sale on the SM.
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coop
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Post by coop on Feb 19, 2015 10:49:45 GMT
Ah, good stuff!
It's the first loan I've seen which has been extended so long - it does heem a bit of a liberty to me as it feels like one hasn't consented to the extention!
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adrianc
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Post by adrianc on Feb 19, 2015 11:09:31 GMT
It's the first loan I've seen which has been extended so long - it does heem a bit of a liberty to me as it feels like one hasn't consented to the extention! Extensions in acceptance are normally, AIUI, down to the borrower saying to FC "Yes, we want it, but we just need to get the paperwork sorted. Can we have a little more time, please?", so a refusal after that is unlikely but not impossible. As for "consent" to the extension - you've given consent to FC to go through the usual steps, by bidding. That's normally within a defined period, but I'll bet the Ts & Cs allow it to take longer... <wanders off to check> Hmmm... www.fundingcircle.com/lenders/terms4.8 says five days to accept. ...but I can't see anything in there that reserves the right to take longer. Anybody else?
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am
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Post by am on Feb 19, 2015 13:14:43 GMT
Looking at the Q&A on that I'm surprised that they accepted the loan.
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blender
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Post by blender on Feb 19, 2015 15:57:00 GMT
Yes, you can see why FC might wish to do away with the Q&A.
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am
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Post by am on Feb 19, 2015 17:29:07 GMT
Normally I don't even look at C-, but I did look at that one, and wondered why it was rated so low as a C-. In the end I didn't bid - on the grounds that it was either as bad as FC said (the final 13.9% is a pretty good rate for a borrower for such a large C- loan) and not worth the risk, or it was deserving of a lower rate and the loan wouldn't be accepted.
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coop
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Post by coop on Feb 19, 2015 17:40:16 GMT
I'm in at the highest rate 14.3% I think without checking.
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jm72
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Post by jm72 on Feb 19, 2015 18:10:16 GMT
If you go to the repayment tab, payments are scheduled - this means that the loan has been accepted. Not sure where you are looking which shows it hasn't been taken.
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Post by GSV3MIaC on Feb 20, 2015 11:23:22 GMT
Normally I don't even look at C-, but I did look at that one, and wondered why it was rated so low as a C-. In the end I didn't bid - on the grounds that it was either as bad as FC said (the final 13.9% is a pretty good rate for a borrower for such a large C- loan) and not worth the risk, or it was deserving of a lower rate and the loan wouldn't be accepted. Me neither, I think I figured I wanted about 15.6% for this one .. not, according to FC, an option. 8>.
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