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Post by brightspark on Oct 3, 2018 8:38:45 GMT
Debaura - Says could not find a page at that address.
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Post by dan1 on Oct 3, 2018 8:43:41 GMT
Debaura - Says could not find a page at that address. - it was redacted because it IDs the asset. I sent you a PM with the link shortly after I redacted it, to read them hit the "Messages" in the menu bar at the top of the screen immediately below the logo.
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Post by Deleted on Oct 3, 2018 8:59:31 GMT
But no progress shown on the very substantial Marylebone loan which must be an enormous worry for any deeply committed small lenders.. I don't know what's going on there really but I think for many months there has been talk of a major DD failing and the F word on here in terms of some strange overseas arrangement, and I think it's one where LY just got done up like a kipper by a crafty borrower who outfoxed them and took advantage of their early inexperience and lack of in house expertise in the earlier days. I don't think the update has changed for months and I doubt it will for months to come. Can't help thinking they should have stuck to boats which they knew about and could have made a steady living lending against, but of course would never have become super rich from. not so sure about boats :-)
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zedi
Member of DD Central
Posts: 80 
Likes: 47
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Post by zedi on Oct 3, 2018 9:32:57 GMT
Any point having a vote or will Lendy do whatever suits them anyway? Such a situation is another reason why this Lendy-Voting system is BS and I hope Lendy will ignore the vote if the outcome is in favor of the borrower's offer. If investors have no say in the recovery process, there is no reason for the borrower to directly pressure them.
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Post by brightspark on Oct 3, 2018 10:07:40 GMT
Debaura - Says could not find a page at that address. - it was redacted because it IDs the asset. I sent you a PM with the link shortly after I redacted it, to read them hit the "Messages" in the menu bar at the top of the screen immediately below the logo. Thank you. I have now done as you said and have located the document.
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sussexlender
Member of DD Central
Cheat seeking missile
Posts: 550 
Likes: 916
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Post by sussexlender on Oct 30, 2018 14:10:17 GMT
Should be an interesting dose of BS at the end of this month, if there is anyone at Lendy that really knows what is happening, or has the guts to tell us the truth.
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Post by loftankerman on Oct 30, 2018 14:43:13 GMT
If they stick with the trend of extending the reporting period and make it Quarterly BS, they'll probably never have to tell us anything again. Now that winter is coming upon us, could someone living near Lendy Towers pop a note on here from time to time to let us know the lights are still on and there are still signs of life? (It's life Jim but not as we know it.)
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webwizard
Member of DD Central
Posts: 157
Likes: 145
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Post by webwizard on Nov 1, 2018 9:31:17 GMT
Well it is 1 November and still no update for the end of the month nor notification on interest.
I thought the updates were now to be monthly and therefore end of business on the last working day of the month?
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SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
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Post by SteveT on Nov 1, 2018 9:50:47 GMT
Well it is 1 November and still no update for the end of the month nor notification on interest. I thought the updates were now to be monthly and therefore end of business on the last working day of the month? No, first working day of the new month (ie. today)
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invester
P2P Blogger
Posts: 612
Likes: 618
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Post by invester on Nov 1, 2018 9:55:11 GMT
Academic for me, there is no interest. I can't see any other outcome today than more can-kicking.
My own personal opinion is that the platform is in real trouble. It seems fairly public knowledge that they have fronted up 'hundreds of thousands' of pounds for lawyers in just one case, and also pre-paid another set of lawyers to familiarise themselves with it, which is surely going to be six figures plus. That is a lot of money just to get the situation back to where it should have been - and even then lenders are looking at a significant capital loss.
How many other cases are Lendy are currently paying out or lawyers (or will be) without the prospect of any specific returns? A lot of them seem to be wild goose chases against people who have organised their assets to be immune from such actions.
On top of the declining core business, senior staff leaving, charge against the PF, rumours of loanbook sales the whole thing seems to be in a downward spiral. The average investor would have had a disastrous experience here even though few losses have been crystallised.
I don't know if it is too early but it might be best for all the P2P platforms to swallow their pride and work together on these issues. I regard platform failure here as a very large possibility now, and that would have bad effects for similar platforms.
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rocky1
Member of DD Central
Posts: 1,139
Likes: 1,963
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Post by rocky1 on Nov 1, 2018 10:23:56 GMT
what happened to my post from less than 1 hour ago.it seems to have vanished.was it removed for a reason as i thought it pretty much summed up how things are at the moment.
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invester
P2P Blogger
Posts: 612
Likes: 618
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Post by invester on Nov 1, 2018 17:25:16 GMT
Is it me or has there been no monthly BS this month?
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Post by GSV3MIaC on Nov 1, 2018 17:31:36 GMT
Not yet, but maybe they are struggling to find an author, or anything non-laughable to say about many of the loans.
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Balder
Member of DD Central
Posts: 646
Likes: 622
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Post by Balder on Nov 1, 2018 17:52:24 GMT
Not yet, but maybe they are struggling to find an author, or anything non-laughable to say about many of the loans. Solved that one - stop doing the update!
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Garage246
Member of DD Central
Posts: 116
Likes: 209
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Post by Garage246 on Nov 1, 2018 17:58:24 GMT
Just read the monthly update. TBH thought it was better and more information than previously. A step in the right direction and a few of my defaulted loans might return something before the end of the year. Hopefully, a bit less can kicking.
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