Carter
Member of DD Central
Posts: 250
Likes: 549
|
Post by Carter on Dec 18, 2018 17:30:58 GMT
Did Ly give up their slice I wonder.
|
|
Carter
Member of DD Central
Posts: 250
Likes: 549
|
Post by Carter on Dec 17, 2018 18:49:00 GMT
Proper joker aren't you. The only thing that can really be deduced at the moment is that an event has occurred that has changed the risk profile across this borrowers loans hence the suspension. Lendy has fallen foul before regarding late suspension of loans so they will have acted quickly on receipt of the information that has yet to be disclosed to us lenders. Clearly Lendy should have communicated today's update earlier however for experienced people like yourself this wouldn't have come as a surprise. We await the detail behind the change in circumstance, until then we'll have to put up with the usual drivel I suppose. So we wait like mugs again. The prepaid interest that Lendy has received for these loans until their maturity date, they keep their part, so why aren't the existing lenders given their part? With so many loans becoming "suspended" and illiquid, what is the incentive for anyone to partake in any loan in the future as the historical evidence is that there is a high likelihood that lenders cash will be suspended, or untouchable for years on end? None of that justifies 12% p.a. for a few months! Well it isn't interest run day so I'm not expecting any interest at the minute. Of course you will have a right to complain if and when we find out interest was not being held on account. With respect to waiting... I'm sure you'll find a way to fill the time.
|
|
Carter
Member of DD Central
Posts: 250
Likes: 549
|
Post by Carter on Dec 17, 2018 18:24:22 GMT
Proper joker aren't you. The only thing that can really be deduced at the moment is that an event has occurred that has changed the risk profile across this borrowers loans hence the suspension. Lendy has fallen foul before regarding late suspension of loans so they will have acted quickly on receipt of the information that has yet to be disclosed to us lenders. Clearly Lendy should have communicated today's update earlier however for experienced people like yourself this wouldn't have come as a surprise. We await the detail behind the change in circumstance, until then we'll have to put up with the usual drivel I suppose. Thanks Sherlock. You gonna do a 5th season with Moffat? Ha ha ha. Bring it on...
|
|
Carter
Member of DD Central
Posts: 250
Likes: 549
|
Post by Carter on Dec 17, 2018 18:16:47 GMT
Which bit of the communication did your ears interpret as fraud or bankruptcy? Experience. Proper joker aren't you. The only thing that can really be deduced at the moment is that an event has occurred that has changed the risk profile across this borrowers loans hence the suspension. Lendy has fallen foul before regarding late suspension of loans so they will have acted quickly on receipt of the information that has yet to be disclosed to us lenders. Clearly Lendy should have communicated today's update earlier however for experienced people like yourself this wouldn't have come as a surprise. We await the detail behind the change in circumstance, until then we'll have to put up with the usual drivel I suppose.
|
|
Carter
Member of DD Central
Posts: 250
Likes: 549
|
Post by Carter on Dec 17, 2018 18:05:24 GMT
Sounds like fraud or bankruptcy to me. Lendy need time to spin yet another outright failure of due diligence before the press get hold of it. I'm not privy to the borrower's details, perhaps some of you who are should run some google searches and isolate the results to the past month. I wouldn't recommend posting the results here though. Which bit of the communication did your ears interpret as fraud or bankruptcy?
|
|
Carter
Member of DD Central
Posts: 250
Likes: 549
|
Post by Carter on Dec 17, 2018 17:10:00 GMT
Check your inboxes.
|
|
Carter
Member of DD Central
Posts: 250
Likes: 549
|
Post by Carter on Dec 13, 2018 18:11:52 GMT
Appears this is only DFL008 at this moment. DFL035 is still trading at this time, and someone's buying. I wasn't in the latter so didn't realise.
|
|
Carter
Member of DD Central
Posts: 250
Likes: 549
|
Post by Carter on Dec 13, 2018 17:52:01 GMT
Repaid.
+Interest +Bonus
|
|
Carter
Member of DD Central
Posts: 250
Likes: 549
|
Post by Carter on Dec 12, 2018 14:13:03 GMT
I am contemplating the same - some questions if anyone is willing to comment or PM me 1. I assume that the primary focus of your complaints derives from the register issue, which presumably you relied upon as one of your primary tests for deciding whether to invest? 2. Has anyone mentioned the seeking of financial redress from the FCA, if subsequent losses occur once the administration has finished or is this not appropriate as part of this complaint? I merely ask, in that we can all write our own compositions, but clearly consistency of content would be useful. Will await anyone's opinions/thoughts/comments - Cheers P Number 1 is exactly as you stated for me picnicman. I subsequently requested two actions, firstly for fca to fully review their controls and procedures regarding accuracy of the register and to ensure steps are taken to avoid a repeat of this issue. Secondly to compensate those investors that are found to have lost capital once the administration has concluded.
|
|
Carter
Member of DD Central
Posts: 250
Likes: 549
|
Post by Carter on Dec 11, 2018 16:12:58 GMT
Response from FCA confirming an investigator had been assigned and to expect written response in four weeks time setting out their understanding of the complaint and whether they are able to investigate it.
|
|
Carter
Member of DD Central
Posts: 250
Likes: 549
|
Post by Carter on Dec 9, 2018 11:44:23 GMT
Complaints to/about the FCA can be raised online by filling in a form. My complaint is now raised. Good work on this duck. Complaint lodged!
|
|
Carter
Member of DD Central
Posts: 250
Likes: 549
|
Post by Carter on Dec 7, 2018 17:31:31 GMT
I'm kind of a bit staggered that an organisation would actually write that. It is essentially an admission of serious leadership and management failure. Its one thing for people to think it, but its quite another for the target organisation to say it. Reads to me like they might have been forced to send it by the FCA.
No financial business would highlight the fact compliance needs improving without being forced to do so.
I think you're right reinvestor wrt fca influence on these series of communications and org restructuring steps. There appears to be plan to reset and recover the company with the ceo front and centre and demonstrating some leadership. Time will tell.
|
|
Carter
Member of DD Central
Posts: 250
Likes: 549
|
Post by Carter on Dec 6, 2018 13:07:10 GMT
Essentially an acknowledgment that the recruitment drive that aimed to bring in expertise and move the outfit towards a more professional standing has failed. I look forward to seeing evidence that this latest reset produces some positive results.
|
|
Carter
Member of DD Central
Posts: 250
Likes: 549
|
Post by Carter on Dec 4, 2018 12:30:04 GMT
All good arguments. What I would add is the Lendy factor. If administrators were appointed they have to act in our best interests, there's more than enough room to pay associated costs and remember this is currently a business running sub-optimally so administrators could actually add value to the business side and secure a good exit. If we continue as is who knows what choices Lendy will make and how long it will take to conclude. Another year, two, who knows? At this stage I would like to see a professional hand who has to act in our best interests. Based on previous actions I do not trust Lendy with this loan or this borrower to act in that capacity.
|
|
Carter
Member of DD Central
Posts: 250
Likes: 549
|
Post by Carter on Dec 3, 2018 16:32:20 GMT
So in March, the total loan was £12,049,456. Assuming the borrower is being charged 18% p/a, 2,168,902 was needed to fund the agreed extension. Since then a further 3,652,616 has been raised, easily covering the extension costs. If Lendy's next argument is that it was advanced to the borrower instead of retained, my next question is- why was more money advanced to a borrower already in default? Quite simply because lenders rank 3rd in Lendy's priorities after themselves and their borrowers.
|
|