Funding circle

Katmg

Anyone else having trouble closing accounts for deceased family members? We’ve been trying for 2 years and unable to get anywhere through complaints process

wmb194

Katmg said:

Anyone else having trouble closing accounts for deceased family members? We’ve been trying for 2 years and unable to get anywhere through complaints process

Aren't there special circumstances with Funding Circle, though? It isn't an ordinary savings account; IIRC you need to wait for the loans to mature as there's no longer a secondary market (closed in 2022).

How much time is left to run on the outstanding loans?

https://www.fundingcircle.com/uk/investors/#:~:text=Continuing%20to%20support%20your%20portfolio,loans%20through%20the%20secondary%20market.

Keep_pedalling

There are quite a lot of P2P set ups that are difficult to close down. I still have an account with Assetz Capital that has a couple of terminal bad loans that don’t look like they will ever go anywhere.

Albermarle

Keep_pedalling said:

There are quite a lot of P2P set ups that are difficult to close down. I still have an account with Assetz Capital that has a couple of terminal bad loans that don’t look like they will ever go anywhere.

As part of the run down process, AC have introduced an 'irrecoverable loans' category, where you can write off your interest in them. However it can take a long time before a loan is deemed irrecoverable by them.