sildenafil
Member of DD Central
Posts: 86
Likes: 60
|
Lendy (L) in Administration
AML checks. (L)
Oct 10, 2019 14:21:13 GMT
via mobile
Post by sildenafil on Oct 10, 2019 14:21:13 GMT
Just received the same email and I then logged in to check the details on my Lendy account again. Somehow, my date of birth has been changed to read 01/01/1998. That is not correct. And it was definitely correct the last time I checked.
Clearly someone has changed it so that my details don't match my credit report and to create all this extra work. As if the administrators aren't milking us enough...
|
|
sildenafil
Member of DD Central
Posts: 86
Likes: 60
|
Post by sildenafil on Jun 19, 2018 13:33:46 GMT
Email from Huddle stating they have another new property loan going live next week. And: "We have a stream of new property borrowers now and will be looking to launch a minimum of 3 new loans per month for the foreseeable future."
Perhaps the property loans from Collateral are being refinanced there
|
|
sildenafil
Member of DD Central
Posts: 86
Likes: 60
|
Post by sildenafil on Jun 19, 2018 13:27:51 GMT
In the Huddle borrowing proposal it states: "This is a refinance of an existing loan from another lender which has come to the end of its term"
So can presume it is the same one. Now, do I invest in it to hopefully speed up return of monies from Collateral...??
|
|
sildenafil
Member of DD Central
Posts: 86
Likes: 60
|
Post by sildenafil on Mar 27, 2018 16:06:18 GMT
Anyone who has an interest in football, take a look at Football Index. I'm slowly withdrawing from p2p and have started to put more money into this. Gains have been impressive so far and I can only see it getting bigger in the future Am I missing something, but this seems to be betting on whether or not a footballer will be mentioned more or less in the press than others think and or will play better? Doesn't seem to be an investment. I have made 30% in the last five months, tax free. Yes, not an "investment" per se but I feel like I have more control over this than I ever have in p2p
|
|
sildenafil
Member of DD Central
Posts: 86
Likes: 60
|
Post by sildenafil on Mar 27, 2018 13:46:23 GMT
Anyone who has an interest in football, take a look at Football Index. I'm slowly withdrawing from p2p and have started to put more money into this. Gains have been impressive so far and I can only see it getting bigger in the future
|
|
sildenafil
Member of DD Central
Posts: 86
Likes: 60
|
Post by sildenafil on Mar 23, 2018 14:45:47 GMT
I was going to post about how my "gut" feeling was 100% return on cash in account and 50% recovery of loans. Then my cup half full brain got the better of me with a couple of nagging doubts: Could someone more knowleable than I stop the following nightmare scenarios in their tracks? Are they possible? Likely? A/ If COL wasn't authorized to lend or collect debt, it still isn't. Could that mean a doomsday scenario of all borrowers simply not being asked to return any capital? B/ Almost as bad, if the administrator is only interested in creditors of COL of which we are not, then is it quite possible there will not be any arrangements put in place to collect repayments and make distributions? If the borrowers don't pay then 'Collateral' still hold the first charge on the property/vehicle/jewellery items etc. so can all be sold and proceeds distributed to lenders in the same way if they were still running the platform
|
|
sildenafil
Member of DD Central
Posts: 86
Likes: 60
|
Post by sildenafil on Mar 12, 2018 18:46:21 GMT
Do we know if these administrators are focused solely working on Collateral's administration? Or whether they will be working on multiple companies at the same time? I presume the latter but that Jessica has been appointed as the full-time administrator for Collateral?
|
|
sildenafil
Member of DD Central
Posts: 86
Likes: 60
|
Post by sildenafil on Feb 28, 2018 23:06:37 GMT
When the Administrator says: "If you are a creditor of the Company owed more than £1,000, you will be required to submit a proof of the debt owed to you as at the date of my appointment before you can participate in the proceedings". Does this apply to us as lenders? Or as he says later in the letter, lenders just sit tight and do nothing for now? A bit ambiguous at first but I don't think we are classed as creditors in this instance. As it says later on, we sit tight and wait for capital and interest to come in from the borrowers. That's my understanding of it anyway
|
|
sildenafil
Member of DD Central
Posts: 86
Likes: 60
|
Post by sildenafil on Feb 28, 2018 22:56:02 GMT
Could have been worse!!
Although what happens now to development loans like Bolton? No more investment allowed for the time being so does the development just stop? Other loans are not as worrisome
|
|
sildenafil
Member of DD Central
Posts: 86
Likes: 60
|
Post by sildenafil on Feb 28, 2018 12:58:21 GMT
"With regards to the "noise" being made, we know what you are referring to here, but we have been unable to announce our expansion as we are awaiting the legals to be completed before we formally announce this. We are also aware of some of those making the "noise" aren't lenders on our platform and as previously stated on many occasions, if anyone has any questions or queries, please contact us directly so we can alleviate any concerns."
Going through Collateral rep's previous posts (which have been very limited recently), I noticed this paragraph from a post on 26th January. Could what has happened in the last two days be linked to this "expansion"??
|
|
sildenafil
Member of DD Central
Posts: 86
Likes: 60
|
Post by sildenafil on Dec 15, 2017 22:54:27 GMT
Thanks for the reply Steve. In your opinion. Do you therefor think that their popularity as 2nd. on the poll, is based more then on the high yields rather than any historical reason. Whilst I like COL and (very selectively) lend there, I think their poll popularity is mostly down to their being young enough not yet to have suffered their first serious default. How they respond when they do will be much more revealing. I would say £214,000 worth of loans for vehicles which went into default would be classed as serious (considering all the bad press car loans have had recently). The way they have dealt with that I think has been impeccable so far with just £35,000 of the full amount left to be paid back (which I have faith will be completed on the due date). It certainly puts other platforms to shame, that's for sure.
|
|
sildenafil
Member of DD Central
Posts: 86
Likes: 60
|
Post by sildenafil on Dec 2, 2017 22:32:14 GMT
Collateral 42% Lendy 28% MoneyThing 16% Ablrate 6% BridgeCrowd 4% Huddle Capital 4%
Quite a lot has changed from this time last year: Lendy 65% MoneyThing 18% Collateral 8% BridgeCrowd 4% LendInvest 2% Ratesetter 1% Wellesley 1% LendingCrowd 1%
|
|
sildenafil
Member of DD Central
Posts: 86
Likes: 60
|
Post by sildenafil on Sept 29, 2017 18:37:27 GMT
From weekly update: "DFL022 - Block A, The Waterfront, Manchester Road, Huddersfield
We are advised that works are progressing well. The borrower does not currently require further development finance on this, so there is no imminent inspection planned by the Independent Monitoring Surveyor".Who has advised Lendy,"...that works are progressing well", if there has been, "...no imminent inspection by the IMS"? Answers on a postcard please. The borrower? We know that borrowers on p2p loans never bend the truth so nothing untoward about this update...
|
|
sildenafil
Member of DD Central
Posts: 86
Likes: 60
|
Post by sildenafil on Sept 24, 2017 10:49:34 GMT
Interesting developments, all over the weekend. I expect it may take Lendy a few days to digest and doubt they will reply here. I would hate to see this turn into one of those forum tit for tat discussions I am sure we have all seen elsewhere. A buildout and finish seems better than a firesale to me. I think finishing the build would have been the best option for all involved. Even if the figures went above 70% GDV. If it went up to 80-90% GDV, with those tranches paying a slightly higher rate of interest, the project could have worked out better. Now, unfortunately, it seems we are looking at a potentially large loss of capital with no chance of accrued interest being paid out
|
|
sildenafil
Member of DD Central
Posts: 86
Likes: 60
|
Post by sildenafil on Sept 21, 2017 22:16:47 GMT
Then suddenly out of the blue we have started getting IMS reports for most/all DFLs and never an explanation why we didn't get them before. Now it's even more clear that these reports never existed to be shared with lenders in the first place. A lot of forum members were repeating themselves on and on for sight of these reports. I was guilty of putting too much trust in Lendy/Saving Stream and I feel I'm now going to take the hit for that with a big loss on this loan. We live and learn
|
|