At faircent i have invested some 25 borrowers out of whom some 15 borrowers have defaulted. Some did not even pay 1 emi. Faircent does not do anything about them. They just send some dunning letter randomly. But it does not help. They are so poor in collection. It is such a big scam for lenders.
They let the borrowers run away with lenders money. Faircent says they will file legal file against borrowers who have defaulted for more than 6 months. Some 10 borrowers of mine have defaulted for more than 9 months. But far from filing legal case, fair cent does not even follow them. I emailed about all of these issues to them many times. Called them many times.. They just say they will call them so and so. But they never do.
I would suggest anyone lot to invest on faircent. Was this information helpful? |
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