vote for Lendy???!!

Wow, that is a lot of bad reviews from salty investors.
I fear that Lendy need the big uber risky loans to survive and that's not that type of loans members want anymore.

Yes, I'd say your 'death spiral' is consistent with my Circling the drain that I remarked on last year. They're a lot closer to the plug hole now. Businesses in that state can find that when the word is out, customers start dragging their heels paying bills, expecting it'll cost them less later.  A moderate string of extensions could have the same effect in Lendy's case.

not looking to good for us at the moment £millions on SM most of which is for loans that never got funded in the first place. many more £millions of our funds tied up in IA/SUS/DEF loans.would LENDY themselves be making anything in this situation or have they already sheilded/covered themselves.god forbid but if liam and tim decided that they would be better walking away and leaving the mess to a third party and wiping their hands of this total collapse of a once respected and reputable company. i just dont know what to think any more.

I gave a fairly honest review there (not particularly positive) but I do wonder if there is a bit of cutting off my nose to spite my face. If Lendy do crash and burn, that's hardly good news for those of us with funds still invested.

I suspect there are people on this board who understand accounts and such like much more than I and I wonder is there are high chance it could happen? It wouldn't be like a "run" on a traditional bank so what sort of scenario would cause failure? The directors having enough as has already been hinted? What else? How likely are these?

The reviews are terrible. What really disturbs me, however, is the size of the investments that many people admit to putting on this platform (and that also applies to other platforms i.e Collateral, MT etc) both via Trustpilot and on this forum. The number of people with clearly very limited understanding of the product they are investing in but who are willing to put £100k, £250k, £500k+ even on a platform with simply no track record. To put £100k on a platform like SS, I'd say you'd need an investment portfolio of at least £2mm, preferably £5mm. So either these people are all HNW, they are being naive or their greed for yield was so large they ignored the obvious red flags.

On the positive side, the fact that everyone on this forum is becoming so negative now is probably a good contrarian signal. Lendy have hired in the last 12 months the sort of people they should have hired at the start. If it wasn't for the lack of FCA approval and the legacy NPLs, I might be thinking of getting back in.

Can you elaborate on the kinds of things you think we/they don't understand?

Also, just because the received wisdom is to diversify (some say diworsify) both platforms and loans and figures like 1%-5% are bandied around, if someone wants to put 100% of his cash in one loan on one platform because he likes risk and that would have a much better expected outcome than putting it all on red why shouldn't he? Diversification in general reduces the expected gain and also reduces the variance. Some folk might prefer the higher expected gain with higher or much higher variance. Both approaches and everything inbetween are all valid and depend on one's appetite for risk.

It wasn't me but if I was to write a review there it wouldn't be very much different.

I'm approching 4 years with lendy, XIRR 12.46%, currently in a few negative day loans but expect minimal losses even if they eventually default. Much improved comms compared to 12 months ago IMO.

It's a lot of hard work, but doing my own due dilligence has enabled me to avoid many (but obviously not all) disasters. Biggest disaster for me in the last 12 months has been loan 330 on AC (42% capital loss after recovery of the secured asset), and prior to that I've had a few 100% capital losses on secured loans on TC, and a 30% capital loss on some modern art on FS.