Dec 11, 2016 03:59 AM
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?Never invest in/through fake and fraud P2P companies, Faircent being the leader of all. They have no robust mechanisms to recover the lender's money?. They operate just to get their cut of the lender's flesh.
When a lender signs up, Faircent will promise that they do a lot of "background" checks, field visits etc. don't fall in to that trap. There is reason to believe that some of the so-called borrowers are the back dealers in
Faircent company itself, waiting to run away with a lion's share of the principal amount after making a few on time payments. This is a common technique employed to dupe investors???? by? gain?ing? their trust initially.
When a default happens, which does happen very soon after disbursal of the loan, Faircent sides with the borrower instead of the lender. Even though Faircent says that it takes cheques from borrowes, they do nothing about it ?other than to lead the lender from one month to another on utterly false hope and blatant lies that something will be done soon.? Faircent has established a separate department and has employed quite a few story tellers specifically to mislead lenders.
?Once you have parted with your hard-earned money as a lender?, be aware that what lies ahead of you is one hassle of an experience till you get tired of going through the monthly ritual of calling them up(they may or may not attend to your call), waste an hour of yours, be fed up, disgusted and ultimately give up
Key takeaway - Stay away from faircent, stay happy and wise
