[Resolved] Faircent — lending loans to borrowers

[Resolved] Faircent — lending loans to borrowers

M max007maddy from Gurgaon, Haryana

Hi this is regarding faircent company.in name of lending they are cheating lenders. Around 80% of borrowers which i lended through faircent are in default and there is no substantial efforts by faircent to recover money from borrowers . They just call borroweres nd send them dunning letter. Also they file legal case against borrowers but nothing comes as concrete result out of it. I want everyone here to not invest your hard earned money in this fraud company. Also i would like to get my invested money back. I want rbi to look into this and Cancel the faircent license of conducting business in fraud ways. Was this information helpful? No (0) Yes (0)
Aug 11, 2019 Complaint marked as Resolved Fairassets Technologies customer support has been notified about the posted complaint. Verified Support Jul 04, 2019 Fairassets Technologies Customer Care's response Dear Mr. Kumar, P2P lending is a risk-based investment opportunity. P2P lending platforms are similar to exchanges such as stock markets where investors (lenders) invest in various loans, build a diversified portfolio, spread their risks and make returns from their portfolio. Risk of default as clearly mentioned on our website exists. Thus, we encourage lenders to spread risk and build strong portfolio. As per our records, currently, your portfolio is delivering upwards of 20% p.a (pessimistic NAR after adjusting defaults) We are committed to work with you to ensure that you get the best. When it comes to collection and recovery, Faircent.com is following all due process as allowed by the law of the country and regulatory guidelines. We are following the process promised to our lenders when they register as part of the TnC signed with them. We are following the process listed on our website which we encourage all lenders to read and understand before investing. Please click here https://www.faircent.com/lender-process to know more. Status on all defaults is regularly updated on lender dashboard. We are already addressing all your concerns and are in touch with you personally. We assure you of our best and will follow all legally compliant procedures towards collection and recovery. Regards Team Faircent.com Verified Support Jul 04, 2019 Fairassets Technologies Customer Care's response Dear Sir, P2P lending is a risk-based investment opportunity. P2P lending platforms are similar to exchanges such as stock markets where investors (lenders) invest in various loans, build a diversified portfolio, spread their risks and make returns from their portfolio. Risk of default as clearly mentioned on our website exists. Thus, we encourage lenders to spread risk and build strong portfolio. We are committed to work with you to ensure that you get the best. When it comes to collection and recovery, Faircent.com is following all due process as allowed by the law of the country and regulatory guidelines. We are following the process promised to our lenders when they register as part of the TnC signed with them. We are following the process listed on our website which we encourage all lenders to read and understand before investing. Please click here https://www.faircent.com/lender-process to know more. Status on all defaults is regularly updated on lender dashboard. We would like to connect with you personally to address your concerns. Kindly connect with us on [protected]@faircent.com. We assure you of our best and will follow all legally compliant procedures towards collection and recovery. Regards Team Faircent.com
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