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Post by oppsididitagain on Nov 18, 2016 18:03:09 GMT
I received this message on a loan I own via Funding Circle
We are defaulting this loan because it is late in its repayments and the borrower is unresponsive despite numerous attempts to contact them. We hope that defaulting the loan and demanding an immediate repayment in full will focus their minds. It will also crystallise the liability of the guarantor.
Unlike ReBS who seem to take months and months just to even think about calling in the debt.
Thoughts everyone ?
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Post by buttchopf23 on Nov 18, 2016 18:06:48 GMT
If a borrower does not pursue a solution if they cant pay, well then hit'em hard. Just my opinion.
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brush
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Post by brush on Nov 19, 2016 11:41:47 GMT
I think ReBs have upped their game a little, invested in the collections agency (ironically). Defaulted end of July, in court for winding up and bankruptcy petitions January 3rd. Approx. 5 months so in this case ReBs do not seem to be holding back.
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ablender
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Post by ablender on Nov 19, 2016 14:29:15 GMT
I wish they did the same with SC**P.
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kaya
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Post by kaya on Nov 19, 2016 14:35:57 GMT
I think ReBs have upped their game a little, invested in the collections agency Is that the one whose one and only tactic seems to be sending out these really threatening e-mails? Scary!
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Post by oppsididitagain on Dec 3, 2016 10:19:14 GMT
Ironically the quote I posted was from FC. So I'm my opinion they do care about their lenders and do seem to be proactive. (maybe Im speaking too soon)
I was happy the way they acted when the borrower became non responsive, unlike ReBS who seem to call, send E mails and wait 3 months for something to happen
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