hector
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Post by hector on Dec 21, 2017 13:24:35 GMT
Yesterday Wednesday 20/12/17 at 15:56 I received the usual email 'Congratulations, allocated £500 into...........DFL020 Tranch 3 & DFL022 Tranch 2, please make payment within 24 hours'........... At 12.45 today Thursday 21/12/17 I went into my bank to make an instant transfer & checked my Lendy account for the exact negative balance (which should have been circa - £925 ish) only to see on my Lendy statement that I was in credit by £75 or so & the 2 x £500 allocations had been cancelled. I've been with Lendy nee SS for over 3 years & never experienced a Loan Cancellation before. Has anyone else had a similar experience today, either generally or with one or both of these loans?
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fasty
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Post by fasty on Dec 21, 2017 14:19:57 GMT
Yes, similar thing happened to me today.
I'm not certain the exact moment my two loans went live yesterday, but the cancellation was less than 24 hours from the time on the "loan part funding" emails, and no warning was received.
My opinion of Lendy has plummeted today.
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ingwer
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Post by ingwer on Dec 21, 2017 14:50:06 GMT
Lendy did the same to me. I owed c. £300 and they cancelled a loan part I purchased a month previously for £2k even though there was newer loans for £500. Told me that there was a 7 day grace period so they could not take the newer loans. My complaint was rejected after a 6 week investigation !!
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Doc
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Post by Doc on Dec 22, 2017 8:17:14 GMT
Looks like some more cancellations going through at the moment from yesterdays tranches, it appears the 'please make payment within 24 hours' rule no longer applies.
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hector
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Post by hector on Dec 22, 2017 9:56:11 GMT
Yesterday Wednesday 20/12/17 at 15:56 I received the usual email 'Congratulations, allocated £500 into...........DFL020 Tranch 3 & DFL022 Tranch 2, please make payment within 24 hours'........... At 12.45 today Thursday 21/12/17 I went into my bank to make an instant transfer & checked my Lendy account for the exact negative balance (which should have been circa - £925 ish) only to see on my Lendy statement that I was in credit by £75 or so & the 2 x £500 allocations had been cancelled. I've been with Lendy nee SS for over 3 years & never experienced a Loan Cancellation before. Has anyone else had a similar experience today, either generally or with one or both of these loans? PS I emailed Bendy "support" with this query immediately I spotted it. I'm still awaiting a reply.
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withnell
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Post by withnell on Dec 22, 2017 10:37:36 GMT
I had similar. Loan parts cancelled next day, 48h grace period seems to no longer exist!
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dp
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Post by dp on Dec 22, 2017 11:01:36 GMT
Similar, complete joke. If rules or timescales have changed then at least let your customers know.
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treeman
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Post by treeman on Dec 22, 2017 11:17:00 GMT
If the grace/tolerance period has been reduced and is now effectively 'if you don't make the next morning deposit-crediting run you're too late' it would be nice to be informed......... Paul64 Lendy Support |
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ingwer
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Post by ingwer on Dec 22, 2017 13:48:50 GMT
If there is buying opportunities on SM then maybe people are not adversely affected. Just in a state of shock. It is positive that Lendy explains the reasons for what happened after the event to all but why not a warning beforehand ?
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fasty
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Post by fasty on Dec 22, 2017 14:45:29 GMT
If there is buying opportunities on SM then maybe people are not adversely affected. Just in a state of shock. It is positive that Lendy explains the reasons for what happened after the event to all but why not a warning beforehand ? Sheer arrogance. This is just another example of where they do what they fancy irrespective of their own published procedures. They're probably puzzled why FCA approval hasn't arrived yet.
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hector
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Post by hector on Dec 22, 2017 17:17:18 GMT
If there is buying opportunities on SM then maybe people are not adversely affected. Just in a state of shock. It is positive that Lendy explains the reasons for what happened after the event to all but why not a warning beforehand ? I have now received a reply from "support". It was a cut & paste of the section regarding 'extraordinary circumstances needing the grace period to be shortened' as contained within today's weekly BS update. The crazy thing is that in my case their action resulted in a negative outcome, in that instead of transferring £1,000 within 18 hours of notification of allocation I did nothing once I saw the clawback, so they've lost £1,000 of new money. Out of principal I certainly am not now going to the SM to purchase replacement stock.
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7d7
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Post by 7d7 on Dec 22, 2017 19:25:31 GMT
Lendy are notorious for giving no warnings when they decide to move the goalposts. It all started this year, which has been a disaster for them; oops, an eventful year according to their final roundup. You live and learn I suppose. We'll see what 2018 brings. Glad they're not the only pebble on the beach.
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rocky1
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Post by rocky1 on Dec 22, 2017 20:05:19 GMT
hi there i think it has been an eventful year for all of us and i dont mean swanning around cowes week but seriously does anybody really think lendy will get FCAapproval if the present way of operating is going to be scrutinised and the way lendy treat us the people who have put the LEND in lendy will they look at how loan after loan is being suspended/defaulted after lending on seriously inflated GDVs and valuations which i think has been a big part of the problem when we see the sort of mess they are in when lending our money out.can forum members honestly say that their monthly interest is not getting less and less each month and are not stuck in at least 1 suspended/defaulted loan.i hope 2018 proves me wrong and lendy buck their ideas up and clear up the mess they are leaving behind them.we cannot keep putting new funds in when we are not seeing any loans repaying just being allowed to default when intervention should have taken place much earlier to sort out and let us know progress
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voss
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Post by voss on Dec 23, 2017 8:32:58 GMT
ppphhhewww!
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hector
Member of DD Central
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Post by hector on Dec 23, 2017 11:38:43 GMT
Yesterday Wednesday 20/12/17 at 15:56 I received the usual email 'Congratulations, allocated £500 into...........DFL020 Tranch 3 & DFL022 Tranch 2, please make payment within 24 hours'........... At 12.45 today Thursday 21/12/17 I went into my bank to make an instant transfer & checked my Lendy account for the exact negative balance (which should have been circa - £925 ish) only to see on my Lendy statement that I was in credit by £75 or so & the 2 x £500 allocations had been cancelled. I've been with Lendy nee SS for over 3 years & never experienced a Loan Cancellation before. Has anyone else had a similar experience today, either generally or with one or both of these loans? After the above fiasco I made 2 pre funding bids on the 21/12 of £500 each & was duly allocated £500 each. First thing on the 22/12 I checked my Lendy account, saw the correct -£925 debit balance so did an immediate bank transfer of £1,000 which I saw left my account immediatly as I was still online. Bugger me I've just logged into Lendy now & find I've a credit balance of well over £1,000 (I had some late interest credited yesterday 22/12 also) & a note in my Lendy account showing the 2 purchases on the 21/12 totalling £1,000 had been clawed back on the 22/12. It's now the 23/12 so that money will no doubt sit in Lendys account for days before I can get it back. I know they have a new loan going live 27/12, but I prefer to decide what to invest in, not be forced to bid to "use up" non earning funds. Over the past 3 years I've invested over £250 K with Lendy, a sizeable amount of which they still have in "suspended" investments. Am I a mug for still trying to do business with these people?
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