annie
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Post by annie on Jul 27, 2017 8:52:16 GMT
while being selective may help to avoid the blatant scammers it will take significant individual research to identify the often misleadingly plausible proposals My view was that LC were getting more desperate to lend on almost any flimsy proposal, which they were not interested in reviewing even when anomalies were pointed out, a situation which has probably worsened since the introduction of their ISA! I agree TheDriver we remember LC pulling a loan when a question was answered (my words) "F.. you, I just won the lottery and don't need your money" This had passed LC's DD and if no-one had challenged him the loan would have went through. Combine that with short auction time on many loans and we can't do any meaningful DD, so to quote another "I'm out" Ps do you think LC's CEO still checks investors' linkin pages or are they too big now?
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TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
Likes: 190
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Post by TheDriver on Aug 1, 2017 6:59:19 GMT
. . . or the one who wanted one to replace (back?) doors and windows on a military estate last year - until it was pointed out that the rental agreement ended this year! and the proposal mysteriously disappeared.
But to get back OT; when I was bored it was fun trying to get a better rate on the SM - almost a challenge to beat the system - but not very rewarding financially because it only worked on small purchases.
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muh3
Posts: 52
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Post by muh3 on Aug 1, 2017 8:49:45 GMT
Anybody noticed the recent Dr. loan borrowed 75.6k 3 months ago and now asking for £381.5k with a net asset of over 1 million in the minus (it actually showed positive until today, typical LC).
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Post by albermarle on Aug 1, 2017 16:23:49 GMT
Good spot about the negative assets but in fact I never got past the profit and loss account . £400 K profit one year and then £10K the next year and now £200K . All on a similar turnover but with wildly changing costs of sales/operating costs. Plus a lot of existing debt , so nogo on this one. The other one currently on offer looks better, and in the last 5 minutes another one has appeared. Strangely these three are all up for a few days, whilst recent ones have been much shorter. No idea why this happens ?
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muh3
Posts: 52
Likes: 13
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Post by muh3 on Aug 1, 2017 19:24:02 GMT
Good spot about the negative assets but in fact I never got past the profit and loss account . £400 K profit one year and then £10K the next year and now £200K . All on a similar turnover but with wildly changing costs of sales/operating costs. Plus a lot of existing debt , so nogo on this one. The other one currently on offer looks better, and in the last 5 minutes another one has appeared. Strangely these three are all up for a few days, whilst recent ones have been much shorter. No idea why this happens ? Just noticed, the current Dr. loan was due for payment on the 30.07. and has just paid today. Encouraging sign this is Yep I got some money on the other one but have not looked at the new one.
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Post by Berkeley on Aug 6, 2017 15:18:45 GMT
Also should be noted from the Downloaded Loan Book that nearly 40% of new loans over the last 6 Months have had NO security.
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