Review Time
If this company is the last resort to find finance, maybe take the bitter pill now, rather than in 3-6 months time. During the period 2014-2025, the number of personal bankruptcy orders, that were made throughout the UK pursuant to bankruptcy petitions lodged on behalf of Federal Capital Limited, amounts to 235. To put this in relation: 252 bankruptcy orders were made against individuals following petitions lodged by the UK's SIX LARGEST HIGH STREET LENDERS PUT TOGETHER throughout the same period. Referenced against the period mentioned first above - by the end of 2025 Federal Capital will be responsible for more bankruptcy orders made against individuals than Lloyds, Nationwide, NatWest, Santander, Barclays Bank and HSBC put together. Business is blooming though for Federal Capital - it paid a dividend of roughly £2m for the year 2024 and sits on retained profits of £27.9m as of FYE 2024. Profiting from other people's and businesses distress seems the way to go. Stay clear of them if at all possible; if Federal Capital appear to be the last resort, you are more likely than not delaying the inevitable and make their directors rich in the process.
My business ran into difficulty. A broker put me in touch with this company. They were quick, the interest was high, but they solved an issue for me at the time. I ran into difficulty with the loan itself, and these guys play hardball. But why should they do otherwise? If you borrow you pay it back. As long as you are fully prepared to deal wth the consequenes if you breach with them, use them all day. We struck a bargain after I ran into trouble, and all in all, they are commercial, tough, but why would you want to deal with anything else. I'll happily use them again if I need them if they'll have me. Why not, they got the business done, I agreed to the terms and they do what they need to do to protect their business. Sounds like reasonable practice to me.
Incredibly unreasonable practice. They work with small business's and apply immense pressure from the first day of a late payment, even if all previous have been up to date and their interest rates are already extremely high. The circumstances do not matter to them and they process legal action from the first late payment and add fees to make your situation worse. Writing to the financial ombudsman to see if this is even legal as FCA guidelines seem to say otherwise as its not a court document so no legal fees should be incurred. Will update with the outcome.
What a complete shambles, complete fraudsters this company. We have been in touch and cancelled our direct debit and they have re set up without our consent.They are literally fraudsters stay clear of them. Do not go anywhere near them.
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