|
|
Post by skint4achange on Mar 28, 2018 16:05:35 GMT
Maybe they should not be criticised when they are reaching out, they realise what they have been doing wasn’t good enough and now it is a time for change of communication. I am not criticising them for reaching out, in fact the opposite. I wish they had reached out a long time ago when investors were not talking about pulling everything out and going elsewhere.
I am criticising the fact that this is not reaching out in my eyes but more of a witch hunt.
I will happily talk through my problems with their way of operating on here, but I will not do so while revealing personal information to them.
|
|
nsinvestor
Member of DD Central
Posts: 105 
Likes: 110
|
Post by nsinvestor on Mar 28, 2018 16:18:37 GMT
phonecall wondering why someone has withdrawn is understandable unless it rapidly turns into an unsolicited sales call punting a great opportunity to buy some sheds in a desolate northern field obv. (bit like one of those you've won a prize draw you weren't in calls but less convincing) meh Curious - have you left the P2P sector or swithed funds to other platforms? If other platforms, where are you having a better experience?
|
|
|
|
Post by Lendy Support on Mar 28, 2018 16:46:24 GMT
Dear all, A large part of what a number of members are calling for on the forum is happening already - day in day out - behind the scenes. Progress however can be very slow and very complicated with these types of projects. All we would ask is for some members to allow us time to work to achieve a satisfactory conclusion to a number of outstanding loans. Our prime aim is to protect 100% of investors' principal capital while paying a great rate of interest. We however can't always communicate our progress in writing, owing to potential loss of legal privilege etc. but that does not mean it is not happening. Like most other platforms, we have seen an increase in the percentage of defaulted loans as a proportion of the live loan book, which has been accentuated with origination slowing in the P2P sector. Our offer to speak with forum members on the phone is a genuine one and not motivated by anything other than to listen to their views, and to try and answer any questions that we can, without compromising legal privilege or members' confidentiality. While it's helpful to know who we are speaking to, as you know who we are, it is not of prime importance. Kind regards Lendy Customer Services Lendy Support |
|
tx
Member of DD Central
Posts: 300
Likes: 127
|
Post by tx on Mar 28, 2018 16:47:46 GMT
And don't lead investors on to thinking repayment is imminent of sunbeam if it isn't! This Friday we would be expecting the round-up email, see what they say about any repayment. Can’t wait. And their creditability is on the line, well, once again, on setting expectation.
|
|
tx
Member of DD Central
Posts: 300
Likes: 127
|
Post by tx on Mar 28, 2018 16:52:01 GMT
Oh, dear. Lendy support is here. So, I wonder what’s your opinion on the current large funding gap undermining investor confidence? Your prefunding level should have told you about this large gap, why on earth they still went live? Thank you Lendy.
|
|
|
|
Post by loftankerman on Mar 28, 2018 16:55:28 GMT
Dear all, A large part of what a number of members are calling for on the forum is happening already - day in day out - behind the scenes. Progress however can be very slow and very complicated with these types of projects. All we would ask is for some members to allow us time to work to achieve a satisfactory conclusion to a number of outstanding loans. Our prime aim is to protect 100% of investors' principal capital while paying a great rate of interest. We however can't always communicate our progress in writing, owing to potential loss of legal privilege etc. but that does not mean it is not happening. Like most other platforms, we have seen an increase in the percentage of defaulted loans as a proportion of the live loan book, which has been accentuated with origination slowing in the P2P sector. Our offer to speak with forum members on the phone is a genuine one and not motivated by anything other than to listen to their views, and to try and answer any questions that we can, without compromising legal privilege or members' confidentiality. While it's helpful to know who we are speaking to, as you know who we are, it is not of prime importance.
Kind regards Lendy Customer Services Lendy Support Ah! I hadn't realised Lendy Customer Services was a person's name. I thought it was just a faceless department at Lendy.
|
|
Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Mar 28, 2018 17:31:44 GMT
If any of you have money Invested with Lendy, then the Lendy bashing will only harm your cause.
I think a lot are here with their popcorn 🍿
|
|
|
|
Post by skint4achange on Mar 28, 2018 17:35:47 GMT
Dear all, Our offer to speak with forum members on the phone is a genuine one and not motivated by anything other than to listen to their views, and to try and answer any questions that we can, without compromising legal privilege or members' confidentiality. While it's helpful to know who we are speaking to, as you know who we are, it is not of prime importance. Kind regards Lendy Customer Services Lendy Support Then speak. All you have actually done in that statement is say the same thing again.
Don't divulge any legal privilege or jeopardise any on going legal proceedings. Show you are willing to communicate by at least explaining why you loaned money paid back from DFL 005 to the same borrower on DFL019 (Without consulting investors). If you want to engage with the forum and it's members, at least start with this small baby step.
P.s Don't bother tagging Lendy Support at the end of your post.................................They never answer you!....................................Until they want something it would seem! 
|
|
|
|
Post by skint4achange on Mar 28, 2018 17:46:19 GMT
If any of you have money Invested with Lendy, then the Lendy bashing will only harm your cause. I think a lot are here with their popcorn 🍿 Liz, I fully understand where you are going with what you say, but such is the nature of a public forum that anything said on here can be viewed by all. Maybe I should invest in Butterkist next?
I do not personally feel that any more harm to our cause can happen than has already happened. Investors are pulling their money as fast as they can and Ly cannot fill a tranche let alone a full DFL.
I do not wish Lendy to fail, I want Lendy to start to actually take notice of the little people (And I don't mean the Umpah Loompahs!). If Lendy had acted when all of this started instead of just saying "If you don't like it, close your account!", maybe this would not have come this far.
I hope all works out well, but I can't see it with all this BS being pushed out and no real truths.
|
|
|
|
Post by Deleted on Mar 28, 2018 18:00:03 GMT
Carry on everyone, this will be our collective future if we don't wind our necks in, find common ground, work things out: Mutually Assured Destruction.  |
|
dovap
Member of DD Central
Posts: 467
Likes: 410
|
Post by dovap on Mar 28, 2018 18:23:07 GMT
perhaps we should all be ramping Lendy
so that a fresh batch of mugs investors venture in ?
rather than all the cobblers perhaps the Ly boys could actually get some repayments in and sort out the many defaults/susps etc
action speaks louder than words innit
|
|
blata
Posts: 77
Likes: 62
|
Post by blata on Mar 28, 2018 18:47:51 GMT
Lets be honest a few loans have failed badly and I have been caught out but on the positive side I have still come out on top, not happy I have been burnt but it could have been worse. Lendy seem to be upping their game just recently and the losses are from a dodgy set of earlier loans which at the time, if I remember correctly as soon as the loan was announced it would be fight for everything.
We were all guilty of greed and not carrying out correct DD for ourselves. I for one am not pulling out just being more canny on the loans I choose to pick.
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Mar 28, 2018 18:59:56 GMT
Lets be honest a few loans have failed badly and I have been caught out but on the positive side I have still come out on top, not happy I have been burnt but it could have been worse. Lendy seem to be upping their game just recently and the losses are from a dodgy set of earlier loans which at the time, if I remember correctly as soon as the loan was announced it would be fight for everything. We were all guilty of greed and not carrying out correct DD for ourselves. I for one am not pulling out just being more canny on the loans I choose to pick. I seem to remember that forumites who did carry out DD have been screaming out on this forum for three years or so about the "dodginess" of both borrowers and valuation manipulation, and the fact that Lendy were NOT applying any meaningful DD to the loans they placed on the platform (whatever BS they insist regarding that subject). Lendy chose to bludgeon on, but that is the style of Lendy leadership. Now they seem surprised that far fewer people want to trust their judgement. Those who were still "caught out" (in most cases) did not need to be. PS, I have been stuck with a moderate bit of the Exeter two.
|
|
|
|
Post by brightspark on Mar 28, 2018 19:50:26 GMT
Lets be honest a few loans have failed badly and I have been caught out but on the positive side I have still come out on top, not happy I have been burnt but it could have been worse. Lendy seem to be upping their game just recently and the losses are from a dodgy set of earlier loans which at the time, if I remember correctly as soon as the loan was announced it would be fight for everything. We were all guilty of greed and not carrying out correct DD for ourselves. I for one am not pulling out just being more canny on the loans I choose to pick. I seem to remember that forumites who did carry out DD have been screaming out on this forum for three years or so about the "dodginess" of both borrowers and valuation manipulation, and the fact that Lendy were NOT applying any meaningful DD to the loans they placed on the platform (whatever BS they insist regarding that subject). Lendy chose to bludgeon on, but that is the style of Lendy leadership. Now they seem surprised that far fewer people want to trust their judgement. Those who were still "caught out" (in most cases) did not need to be. PS, I have been stuck with a moderate bit of the Exerer two. If greed is wanting more than the desultory rates available from a Building Society then I plead guilty your honour. It is a sad state of affairs when Due Diligence must start from the premise that absolutely nothing that the introducer says may be accurate and that there will in all likelihood be serious omissions of relevant information. P to P as first promulgated was supposed to be a way whereby individuals with some financial acumen and a little money could have their hands held when they plunged into the muddy waters of investment. As far as I am aware being helped to drown was not supposed to be on the agenda. "At Lendy we have a reputation for having one of the most experienced and specialist credit assessment teams in the industry, who ensure each investment loan has met our rigorous and robust lending criteria. We only offer investors loans to invest in that have been through our rigorous and streamlined due diligence, credit and legal checking." If only!
|
|
|
|
Post by scerbera on Mar 28, 2018 20:34:39 GMT
I had 150k in Lendy prior to xmas, I also managed a similar amount for my partner. I originally funded dfl 17 but got cold feet I think after around 4 months and sold out around 30-40k I dont recall exactly. I dont know if I've been lucky but I have yet to suffer a capital loss or my partner. I have always picked specific loans and not really diversified much. I decided before xmas that the secondary market was flashing up a big warning sign and also with various other factors that I wasn't happy with, and so sold out of everything and luckily got most sold. A fairly big decision as I have been with lendy/ss for years, since the start pretty much.
I have 4k left roughly in dfl 05, and I have to say thankfully I invested only a small amount in it, and it was purely down to the spiel about it being at completion e.t.c. It was purely a safe home for 5k for a few months.
I would have given time reinvested in Lendy had I felt that the loan book was of a sufficient quality, and the valuations were not pie in the sky, but after using the part repayment of dfl05 basically as a credit facility for the borrower, which I find ethically on a par with a boiler room I can safely say I will never invest a penny with them again. I really do think dfl05 will be the nail in the coffin for them. I feel very sorry for anyone suffering a major capital loss, anyone who trusted the valuations has been quite done over and there should be some legal recourse taking place here as some are clearly fraudulent.
All the best.
|
|
