debaura
Member of DD Central
Posts: 277 
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Post by debaura on Nov 22, 2017 13:56:07 GMT
Could anyone enlighten me as to the rates ie DFL017 Old H**e* Ro*d?
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Post by skint4achange on Nov 22, 2017 14:37:03 GMT
Could anyone enlighten me as to the rates ie DFL017 Old H**e* Ro*d? DFL017 is only suspended as far as I can see?? If it is suspended and the interest is still IOA then you will be receiving the rate of the loan i.e. 11%. This will carry on being paid until the IOA becomes IA. Because it is suspended, it is not in default. It , technically will not be in default until 180 days after the repayment date, although, as LPA receivers have been instructed, Lendy have foreclosed on the loan.
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1stwaz
Member of DD Central
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Post by 1stwaz on Nov 22, 2017 19:04:30 GMT
Could anyone enlighten me as to the rates ie DFL017 Old H**e* Ro*d? DFL017 is only suspended as far as I can see?? If it is suspended and the interest is still IOA then you will be receiving the rate of the loan i.e. 11%. This will carry on being paid until the IOA becomes IA. Because it is suspended, it is not in default. It , technically will not be in default until 180 days after the repayment date, although, as LPA receivers have been instructed, Lendy have foreclosed on the loan. That is my understanding, suspended means that it can not be traded but should still pay interest until it is flagged as IA (interest accumulating).
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mary
Member of DD Central
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Post by mary on Nov 22, 2017 19:17:59 GMT
Could anyone enlighten me as to the rates ie DFL017 Old H**e* Ro*d? DFL017 is only suspended as far as I can see?? If it is suspended and the interest is still IOA then you will be receiving the rate of the loan i.e. 11%. This will carry on being paid until the IOA becomes IA. Because it is suspended, it is not in default. It , technically will not be in default until 180 days after the repayment date, although, as LPA receivers have been instructed, Lendy have foreclosed on the loan. How Lendy can appoint receivers and still claim that the loan is not in default is beyond comprehension. Smoke and mirrors come to mind, how long they can keep this up remains to be seen, and still no full FCA (can't imagine why)!
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Post by skint4achange on Nov 22, 2017 19:21:47 GMT
Quite simply put, they can claim it is not in default because at the end of the day the loan interest is still being paid. The LPA receiver has been appointed on a technicality not because the loan is not being paid for.
Because of how Lendy keep back the interest (Not trying to teach you to suck eggs), the loan is being funded throughout the loan term. The reason why the LPA receiver has been appointed is purely because it appears that the borrower is trying to shaft the investors. I for one am glad that Lendy have started getting tough ad are actually on the ball with the borrower trying to pull a fast one.
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