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Post by tomder on Mar 13, 2019 22:29:06 GMT
I have investments with both LY and FS. I have a significant sum invested in each platform.
I am sick of being fed the same BS by both platforms when they do care to update us. For most loans I am 1- 3 years overdue! I doesn't take a great detective to find out who the borrowers are, so why don't we go after them directly? This might shock them and pressure them into dealing with the platforms than hundreds of individual investors. I think the platforms have been an easy touch by borrowers and have been taken advantage of and even worse WE have been taken advantage of by those paper pushers running the platforms.
I for one am not prepared to sit back and let this travasty happen, we all seem to be waiting for the arrival of more paper pushers (administrators). We need to be proactive and fight while we still can.
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izigor
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Post by izigor on Mar 14, 2019 8:28:03 GMT
I'm guessing when you say 'go after them directly', you mean via a strictly 'legal' route as opposed to 'thug'ish harassment' a la Tommy Robinson style.
It would be interesting to have an idea on what you are suggesting can be done here. At first glance, I find this more interesting than efforts by others who are going for Lendy's jugular, which I find counter-productive at this moment in time.
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r1200gs
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Post by r1200gs on Mar 14, 2019 9:17:16 GMT
I'm guessing when you say 'go after them directly', you mean via a strictly 'legal' route as opposed to 'thug'ish harassment' a la Tommy Robinson style. It would be interesting to have an idea on what you are suggesting can be done here. At first glance, I find this more interesting than efforts by others who are going for Lendy's jugular, which I find counter-productive at this moment in time. If somebody turned up mob handed at the home of my ex wife and children, scared the hell out of them and put their very lives at risk, I too would have been banging on the ring leaders door in the early hours. But the press never mentioned that, did they? Instead, Stuchbery played the innocent victim and the UK press played along so they can show Robinson to be the thug and The Guardian readers swallow the narrative hook line and sinker. More on topic, yes the platforms should be doing all they can to get our money back but the funny thing about people not paying their debts is they tend to make very sure there's nothing anyone can do to make them pay up, not even 5am door stepping is likely to help much.
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rocky1
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Post by rocky1 on Mar 14, 2019 9:18:21 GMT
SPVs,Ltd COs set up for the 1 big scheme,worthless PGs and debentures,dodgy borrowers skilful in the art of hiding any assets and platforms hiding behind their T&Cs.where would you start?these platforms and scamming borrowers do a good job of covering their wrong doings all in a legal sort of way.
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Post by tomder on Mar 14, 2019 14:17:25 GMT
I wasn't suggesting anything other than a paperwork excercise :-)
I just wanted to explore what rights we have as lenders indepentantly of the platform we have lent through. What legal connection do we have with the borrower. It might be harder for the dodgy borrower to dodge multiple "keen" investors very very interested in getting their investment back over the soft touch of the platform.
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mj
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Post by mj on Mar 14, 2019 16:38:17 GMT
The easiest borrower to pursue is Lendy itself, who is the legal borrower in a number of loans still under the old t&cs
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sl75
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Post by sl75 on Mar 14, 2019 16:52:46 GMT
One obstacle to overcome for anyone who wants to "go after the borrower directly" would be that the relevant parts of the T&Cs state: (although could give an interesting hook for a potential breach of contract by Lendy if they fail to "enforce payment of the debt"...?)
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izigor
Member of DD Central
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Post by izigor on Mar 14, 2019 20:21:57 GMT
I'm guessing when you say 'go after them directly', you mean via a strictly 'legal' route as opposed to 'thug'ish harassment' a la Tommy Robinson style. It would be interesting to have an idea on what you are suggesting can be done here. At first glance, I find this more interesting than efforts by others who are going for Lendy's jugular, which I find counter-productive at this moment in time. If somebody turned up mob handed at the home of my ex wife and children, scared the hell out of them and put their very lives at risk, I too would have been banging on the ring leaders door in the early hours. But the press never mentioned that, did they? Instead, Stuchbery played the innocent victim and the UK press played along so they can show Robinson to be the thug and The Guardian readers swallow the narrative hook line and sinker. More on topic, yes the platforms should be doing all they can to get our money back but the funny thing about people not paying their debts is they tend to make very sure there's nothing anyone can do to make them pay up, not even 5am door stepping is likely to help much. Even if what you say was true (which it isn't), then a civilised man would not have responded to 'banging on the door' by a continued behaviour of organised harrassment and intimidation. He would have taken the matter to law. The reason Tommy acts the way he does is because he is a thug (just like most of his 'followers') and I think you probably already know that.
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Post by pjt1 on Mar 14, 2019 20:46:10 GMT
I for one won't be going after borrowers just yet. The lack of action so far suggests that there is more than one London loan out there, so putting my name and address on a claim form is not on the agenda for me.
If we think the mistakes on the London Loan can be treated as a one-off we are deluding ourselves. God only knows what Lendy committed to in its agreements with borrowers to provide funds to complete the projects to allow them to pay us back. Is there a real reason so many projects haven't been completed in the Lendy loan book?
A huge can of worms have yet to be opened I think
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sydb
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Post by sydb on Mar 14, 2019 21:46:01 GMT
I for one won't be going after borrowers just yet. The lack of action so far suggests that there is more than one London loan out there, so putting my name and address on a claim form is not on the agenda for me. If we think the mistakes on the London Loan can be treated as a one-off we are deluding ourselves. God only knows what Lendy committed to in its agreements with borrowers to provide funds to complete the projects to allow them to pay us back. Is there a real reason so many projects haven't been completed in the Lendy loan book? A huge can of worms have yet to be opened I think The London loan is a complex case but much stems around the borrower claiming Lendy prevented the works to continue for an extraordinary reason, and defaulted the loan without justification. I don't think there can be many like it, if any. However, you're right, there may have been other messes with other loans; many say Lendy has been far from transparent. It takes a foolhardy borrower to do what the borrower of the London loan is doing, though, and a fair amount of cash to take to the court casino.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Mar 14, 2019 22:10:19 GMT
One obstacle to overcome for anyone who wants to "go after the borrower directly" would be that the relevant parts of the T&Cs state: (although could give an interesting hook for a potential breach of contract by Lendy if they fail to "enforce payment of the debt"...?) This does not give a timeframe for them to enforce the payment. If investors could lobby in sufficient numbers >50% then I think they would be bound to pursue the payment
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r1200gs
Member of DD Central
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Post by r1200gs on Mar 15, 2019 8:04:09 GMT
If somebody turned up mob handed at the home of my ex wife and children, scared the hell out of them and put their very lives at risk, I too would have been banging on the ring leaders door in the early hours. But the press never mentioned that, did they? Instead, Stuchbery played the innocent victim and the UK press played along so they can show Robinson to be the thug and The Guardian readers swallow the narrative hook line and sinker. More on topic, yes the platforms should be doing all they can to get our money back but the funny thing about people not paying their debts is they tend to make very sure there's nothing anyone can do to make them pay up, not even 5am door stepping is likely to help much. Even if what you say was true (which it isn't), then a civilised man would not have responded to 'banging on the door' by a continued behaviour of organised harrassment and intimidation. He would have taken the matter to law. The reason Tommy acts the way he does is because he is a thug (just like most of his 'followers') and I think you probably already know that. It's perfectly true, I would not have said it if it were not. Mike Stuchbery used a violent drug addict to doorstep Robinson(except Robinson wasn't there and he knew it) advertised the event in advance on FB and livestreamed it. Six left wing activists and a journalist turned up at the door of the home of his ex wife and children, terrorizing them. I'm looking at Stuchbery's FB page now reading...." Just had word that Tommy Robinson is about to be served papers for libel at his place in the very near future -with a livestream! Watch the resisting hate facebook page".
And that is how Robinsons ex wife and children found themselves faced with a small mob of left wing activists, one pit-bull type dog and a journalist, kids terrified, somebody live streaming and these are people that have faced death threats.
Now Stuchley is playing the victim because Robinson went to speak to him face to face. Why didn't Robinson go to the police? Is this the same police he is dragging through the courts this very week for abusing him and his children? Why are the main stream media not reporting on that? Same reason they are not giving the reasons for Robinson banging on Stuchley's door, does not fit their narrative. Feel free to contact me if you wish to have evidence, this not being the place.
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Post by steven on Mar 15, 2019 10:20:29 GMT
Rather than entering into direct litigation with the borrowers how about volunteering our services to Lendy to help recover what we are due.
I am not sure how Lendy would feel about this but I would consider going to work in their offices for free in order to progress getting my money back.
Any thoughts?
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Post by p2plender on Mar 15, 2019 10:24:49 GMT
surely go after Brooke directly???
He orchestrated this mess from where I'm looking.
Buck stops somewhere.
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izigor
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Post by izigor on Mar 15, 2019 11:36:35 GMT
Even if what you say was true (which it isn't), then a civilised man would not have responded to 'banging on the door' by a continued behaviour of organised harrassment and intimidation. He would have taken the matter to law. The reason Tommy acts the way he does is because he is a thug (just like most of his 'followers') and I think you probably already know that. It's perfectly true, I would not have said it if it were not. Mike Stuchbery used a violent drug addict to doorstep Robinson(except Robinson wasn't there and he knew it) advertised the event in advance on FB and livestreamed it. Six left wing activists and a journalist turned up at the door of the home of his ex wife and children, terrorizing them. I'm looking at Stuchbery's FB page now reading...." Just had word that Tommy Robinson is about to be served papers for libel at his place in the very near future -with a livestream! Watch the resisting hate facebook page".
And that is how Robinsons ex wife and children found themselves faced with a small mob of left wing activists, one pit-bull type dog and a journalist, kids terrified, somebody live streaming and these are people that have faced death threats.
Now Stuchley is playing the victim because Robinson went to speak to him face to face. Why didn't Robinson go to the police? Is this the same police he is dragging through the courts this very week for abusing him and his children? Why are the main stream media not reporting on that? Same reason they are not giving the reasons for Robinson banging on Stuchley's door, does not fit their narrative. Feel free to contact me if you wish to have evidence, this not being the place. Interesting, I've just looked more into this and that narrative above seems to be predominantly spread in the far-right domain and anti-semite and islamophobic web-sites. Even in a few of them, the stories seem to differ from the other. In the more 'independent' sites (even dailymail), it appears 'Tommy Robinson' is clearly at fault. I'm neither on the far-right nor on the far-left. I'm not even on the right or the left as I don't feel the need to belong to a particular 'label' to see who's in the wrong and who's in the right or to differentiate from fake news and educated reality. However Tommy Robinson is clearly a 'thug', 'narrow-minded', racist, islamophophic and anti-semitic, xenophobic person. This is sad, because he clearly knows how to wield influence. Imagine he pursued more interesting, jovial and social causes, rather than spreading hate. How many people would he have led towards humanity... or would they then not have bothered about him? We should stop feeding hate, otherwise, we too are going to start giving birth to future terrorists (if they are not already being bred). With respect to readers here, this will be my last post on the matter as it is clearly going .. I mean gone off topic.
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