TheDriver
Member of DD Central
Slightly bonkers
Posts: 493 
Likes: 190
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Post by TheDriver on Mar 14, 2017 14:38:46 GMT
This one looked very sus from the start so I took a minimal stake just to monitor it, and soon proved the dubious credentials by making just ONE payment before being closed down by the SRA! Despite promising to make the second payment last week (three weeks late, and on a Friday!) nothing's materialised and LC hasn't reacted. This must be a record failure even for LC, showing again the poor DD despite the anomalies raised in the Q & A. Glad to be getting out!
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muh3
Posts: 52
Likes: 13
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Post by muh3 on Mar 15, 2017 14:28:27 GMT
time will tell (don't lend to a solicitor, lesson learned)
The biggest issue I have with LC is the response time and the quality of the commands. For example the company B* S******* is no longer trading. This should have been mentioned to the investors.
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TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
Likes: 190
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Post by TheDriver on Mar 16, 2017 8:21:33 GMT
Another LC update coincidentally posted after being prompted on here!
However, the pertinent fact that they are "expecting a transfer" to make the payment is rather worrying given that they received £50+k from us in mid December; either the renovations were paid for extremely quickly or they had a very expensive Xmas. Given they were closed for "suspected dishonesty" I think we can guess which!
To be fair to LC, the first update mentioned the practice was closed and under investigation - although that doesn' t excuse the original abysmal DD
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TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
Likes: 190
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Post by TheDriver on Mar 17, 2017 20:19:20 GMT
Another Friday deadline comes and goes with no apparent activity within the 72 hour timeframe. Maybe the anticipated funds actually ARE in their account, but there was no-one around to process the transfer; either way LC are now closed for the weekend, so it will be interesting to see if anything happens in the next 72 hours!
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muh3
Posts: 52
Likes: 13
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Post by muh3 on Mar 20, 2017 12:17:04 GMT
Doesn't look like the second 72h have resulted in a payment.
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TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
Likes: 190
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Post by TheDriver on Mar 21, 2017 14:39:00 GMT
Apparently not!  and it seems LC's claimed "careful monitoring" still does not extend to producing expeditious updates.
As an aside, why did it initially take them 4 days to even notice the business had been closed? It's also a little concerning that I now have 5 deals in the red (plus 1 loss). 
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muh3
Posts: 52
Likes: 13
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Post by muh3 on Mar 22, 2017 14:23:03 GMT
I probably have the same 5 red ones and share your frustrations.
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TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
Likes: 190
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Post by TheDriver on Apr 7, 2017 8:32:12 GMT
So the "close contact" and promises to pay have come to naught, and this is the first loan of 2016 to default; ironically it's one of the last to be arranged
At least LC are reporting Arrears correctly since the beginning of this year - which to be fair to LC is more than some platforms manage.
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and it seems LC's claimed "careful monitoring" still does not extend to producing expeditious updates. 