phonecalls

I've been contacted by LY today but in writing not by telephone so I guess they don't have my current number - (I started with LY 4+ years ago).

At least the current personal communications show that they can communicate on a friendly, human level if they want to.

They did this when they started but then a sort of arrogance seemed to creep in to their style and it felt like they seemed to take us investors for granted - and in some cases it almost felt like they were taking us for mugs while boasting about how great they were - even though I am sure that was just the unintended tone of some comms.

Now they need us again they seem to be reverting to how it used to be and we seem to be important to them again.

Unfortunately if you don't make customers feel valued in the good times you can't expect them to come running back when you need them. In life, you tend to reap what you sow.

It is clear that  LY are going through their trickiest and most challenging period to date. For the sake of everyone and the entire P2P sector, I hope they can navigate their way out of these choppy waters. But I'm afraid they won't be doing it with any new money from me - not without me seeing some serious improvement in loan performance - especially the big DFLs.

I also had a message on the forum 'reaching out to me' (its not me that needs a life jacket ) proposing a phone call. I told them my issues and instead of addressing any of them, they just said they wanted a name and number to talk on the phone.

I think they're on a mission to match forum usernames to Lendy accounts!

I haven't received a phone call (Or not that I know of but I was at work all day!), but I did receive this personal message just to me personally from Paul64 :

"Dear skint4achange, I am just reaching out to see if you'd be free over the next couple of days for a call to discuss Lendy and the general P2P sector. If so, could you please provide your name and contact details. All the best, Lendy Customer Services."

I was so pleased to receive a personal message from Paul (Who strangely signed his name as LENDY CUSTOMER SERVICES"!) that I answered him/them/it/whatever with the following:

"No thank you. I am liquidating all of my P2P assets at present so I do not feel I would be the best person for you to talk to.

I would suggest to you however that engaging a bit more with the marauding crowd on here would do more for your company in the long term. By allowing the comments to go unchallenged you just allow fuel to be added to an already increasing inferno knocking at the door of Lendy.

Much of the frustration by members of this forum is borne from the wall of silence surrounding their many questions and the continued use of FAQ cut and paste answers. This coupled with poor updates and continued broken promises really does not help with the perception many of your investors have of you as a company.

I once posted on here that investors can handle the truth because it allows them to take steps to minimise the pain caused by a problem. When people are kept in the dark, they cannot prepare for what they cannot see.

Although you would get a rough ride on here, I feel that you are eloquent enough to produce a measured response to any comment or criticism that is levelled at yourself or Lendy. Many of the comments may well be justified and you would do better to answer the questions honestly.

By contacting me on here, and by the cold calls that are now being spoken about on the forum, I can assume that the little people leaving Lendy is now being felt? Despite what you may have felt about the small investors in Lendy, when they pull together, the loss of their money on the platform will tell.

If you wish to prevent at least some of the investors on here from leaving Lendy, I would suggest that you engage with them on here to answer some of the questions they have. You may find the thought of doing this abhorrent, but you may have to swallow your pride if you wish to fill any more loans such as the £5.2m flop that is currently floundering around on the SM.

I wish you luck."

I did start to hold my breath for a heartfelt answer from Paul/Lendy/whoever, but gave up when I started turning blue in the face.

I hope some of us get out of this alive TBH.

Couldn't agree more, it's also in breach of forum rule 7 "The Private Message function must not be used for commercial announcements or soliciting of business." It has been noted by forum staff now

They can put up a 'public' message here and suggesting people PM them if they wish. It's the mechanism and the message that's the issue here. It's unsolicited PMs by anyone, but especially those who have been flagged such as Platform Reps, Loan Introducers, Platform Associates or Bloggers, that are a breach of the forum rules.

It has been raised with forum staff as an issue before and whilst identified platform staff are free to post about their 'goods and services' on their own Boards we regard the use of PMs for unsolicited marketing/advertising as a step too far. Too close to spam which some may not mind but others definitely do.

I wonder what they would say to me on the phone ...

I sincerely wish Lendy well and continue “monitoring” our loans while they do not have the “obligation” ... for the sake of every investor, and their funds.