"Was OK but not anymore"

Was OK but not anymore. Already lost money as loan defaulted and face losing another £4500. Have sold all loans I could and withdraw repayments. Moved them to Assetz capital where they deal with any defaults openly and fairly. I have yet to lose money with them.

"ESF seem to be incompetent or crooks"

i have been investing with thincats for over 6 years. Until ESF took over they were good value, local and very responsive. Now i am looking at losses of £4-8k on investments of £30k.
When i contacted them recently they refuse to accept that either they have not had due diligence over loans and / or they are useless at recovering assets. I have now been told that only £2k of my investments can be sold on the secondary market as the rest are in some difficulties.
Is there a way that we investors can take ESF to court or get the financial ombudsman to take on the case.

"Avoid"

Watch out for high rates of interest BUT very high loan failure rate
Poor due diligence
Much of the security is difficult to enforce
Some loan prospectus provide an incomplete / inaccurate picture of risk
They have had a large number of big loan failures overall negative returns

"Not the investment platform they were"

I too have been with Thincats since 2012. They used to be a seriously good investment platform. While there were inevitably failures, they were managable and even with write-offs, was averaging 8% p.a.. However, Thincats were taken over a couple of years ago and since then, the level of defaults have gone through the roof. Last tax year I took a 4 figure loss on my investments. Very disenchanted. I question the quality of their due diligence.

"Thincats are a dishonest and immoral…"

Thincats are a dishonest and immoral organization. I do not write these comments without thought, having been an investor with them since August of 2012.

"Possibly the best P2P platform in the…"

Possibly the best P2P platform in the UK so far.

Unsecured loans to business are a minefield at best, but TC has managed to provide with very good returns (around 8% in my case) year after year after year.

Their platform sucks, but they are a very good investment.

Not sure what to make of their new owners ESF, but we'll have to wait and see.