FundingTree

SALTburn64
SALTburn64 Posts: 16 Forumite
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in Savings & investments
I have no communication with P2P loan company FundingTree, has anyone got any information on this company?

Comments

  • DrSyn
    DrSyn Posts: 889 Forumite
    First Anniversary First Post
    edited 24 August 2019 at 10:13AM
    Is this the company you mean?

    https://www.fundingtree.co.uk/

    If you have sent Emails to either of the addresses shown on that page and not received a reply signs are not good.


    Go to site below and look at item 53, it suggests they stopped in Q4 2017.

    https://www.p2pmoney.co.uk/companies.htm

    There is also this, its no longer authorised by the FCA:-

    https://register.fca.org.uk/shpo_searchresultspage?search=fundingtree&TOKEN=3wq1nht7eg7tr
  • SALTburn64
    SALTburn64 Posts: 16 Forumite
    First Anniversary Combo Breaker First Post
    Hi, thanks for the reply, yes that's the firm, they have either gone into administration or liquidation, money invested has gone and by the look of it no chance of getting it back, regards Mike.
  • ctdctd
    ctdctd Posts: 1,080 Forumite
    First Post Name Dropper First Anniversary
    According to Companies House, Funding Tree has dissolved :-(
    https://beta.companieshouse.gov.uk/company/08376390
    Do Money Saving sites make you buy more bargains - and spend more money?
  • DrSyn
    DrSyn Posts: 889 Forumite
    First Anniversary First Post
    Yes, and only on the 20 August 2019. I wonder how many other P2P will follow this path after Brexit?
  • Lafuma
    Lafuma Posts: 23 Forumite
    ... but not much truth to it.

    Here are the facts:

    Funding Tree stopped new lending to businesses well over 2 years ago (but maintained the servicing of loans already in place at that time)

    Funding Tree stopped trading completely over 6 months ago.

    Any creditors would have been informed at least 3 months ago on the intention to dissolve the company, and presumably none of them (if there were any) objected.
  • SALTburn64
    SALTburn64 Posts: 16 Forumite
    First Anniversary Combo Breaker First Post
    I never got any communication from them that they were closing down.
  • SALTburn64
    SALTburn64 Posts: 16 Forumite
    First Anniversary Combo Breaker First Post
    Scary comment, I have two other P2P accounts.
  • Malthusian
    Malthusian Posts: 10,934 Forumite
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    Lafuma wrote: »
    Any creditors would have been informed at least 3 months ago on the intention to dissolve the company, and presumably none of them (if there were any) objected.

    According to the OP, that's not a fact.

    If the OP was still owed money (whether by FundingTree itself or the supposed borrowers) then it appears FundingTree has done a runner with it.
    DrSyn wrote: »
    Yes, and only on the 20 August 2019. I wonder how many other P2P will follow this path after Brexit?

    It has virtually nothing to do with Brexit (though it's a good excuse). New investors' money started drying up a year or so ago.
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