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Funding Circle grinding to a halt?

Like many on here no doubt, I decided to reverse out of Funding Circle about eighteen months ago with returns falling and unchallenged bad debt rising. Left now with a very small amount of dregs, just a few are available to sell but notice the projected period to sell is now over 45 days! I have decided to leave the very small amount invested with reinvestment switched on, thereby producing at least something, waiting for the inevitable slow death! Such a shame for FC to end up like this, they were the shining light some years ago. Thankfully there are other great platforms out there... Lendingworks, Zopa, Ratesetter et al...

Comments

  • I'm in the same position - the final straw for me was when my financial adviser, who was acquiring a new business, advised that FC had been practically throwing money at him having done little or no "due diligence". My overall interest on investments made with them over 3 years is 1.7% after fees and substantial bad debt. I get more than that in my current account so definitely not worth the risk.

  • Hello - is the consensus that they are one to avoid then?

  • @blahblah said:
    Hello - is the consensus that they are one to avoid then?

    FC are probably safe enough [for now] but I personally could not recommend them, especially when there are other great platforms out there like Lendingworks and Ratesetter. The most annoying thing is FC's persistence with their overly optimistic summary page which simply totals up the lifetime money earnt rather than the current situation which can be dire.

  • Thanks.

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