|
|
Post by charliebrown on Aug 11, 2018 14:59:24 GMT
If the sea of Red 1 Star Trust Pilot Reviews doesn't bring about profound change in Lendy, and it has had zero effect so far, you REALLY have a much bigger and more serious problem thank you even think.I agree, Oz. LY are the stubborn apathetic type. The more we complain the less they care and the more they give us to complain about. Which is exactly my point, this downward spiral is to some extent self-perpetuating.
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168 
Likes: 4,859
|
Post by ozboy on Aug 11, 2018 16:02:29 GMT
It's a serious dilemma and I sympathise.
Lendy's arrogance is breathtaking, I'm SO glad I'm out, Good Luck to all still in.
|
|
hazellend
Member of DD Central
Posts: 2,363
Likes: 2,180
|
Post by hazellend on Aug 11, 2018 17:31:07 GMT
All it will take is some good quality loans to bring people back.
The problem for Lendy and the rest is are there many good quality high interest borrowers out there?
|
|
brianlom1
Member of DD Central
He's not the Messiah, he's a very naughty boy!
Posts: 400
Likes: 416
|
Post by brianlom1 on Aug 11, 2018 17:33:39 GMT
charliebrown - it feels as though we're damned if we do and damned if we don't. If Ly stop giving us things to bitch about, we'll stop bitching. I don't think that keeping quiet is going to bring about the required change in Ly's attitude. On a personal note, I've sold almost all of my saleable loans so it no longer matters to me what new investors think. All I care about is recovery performance, I'm happy to consider any tactics that remind Ly of their obligations and commitments.
|
|
|
|
Post by loftankerman on Aug 11, 2018 17:37:25 GMT
Dunno how long the latest crop are going to last. I can imagine TP accepting that the latest is defamatory. It seems that folk have worked out that a killer post over the weekend will get the most exposure before being pulled. The way things are going Lendy need to pay TP to have a crew on overtime over the weekend. It never crossed my mind to look at TP before investing, but I imagine that if I had looked at Saving Stream as it then was, I'd have though jumping in looked like a good idea. It sometimes makes me wonder if Lendy has been a much longer game than it appears, and Saving Stream was the cheese in the Lendy trap. Then I think that if they were that cunning they could have made a go of the business instead.
|
|
|
|
Post by charliebrown on Aug 12, 2018 1:27:31 GMT
All it will take is some good quality loans to bring people back. The problem for Lendy and the rest is are there many good quality high interest borrowers out there? I think a focus on recoveries and a change in attitude would help restore LY-investor relations. For me at least, new loans being issued, no matter how “good” they might be, wouldn’t make a difference to the macro situation and wouldn’t see me putting any more money in.
|
|
|
|
Post by p2plender on Aug 12, 2018 3:37:10 GMT
Me neither. They'll have to change name again and try and distance themselves from the Lendy brand. Literally start all over again as I doubt many of their 20000 investors would be interested in a second shafting. As said on another thread, does make you wonder what Lendy staff do all day. Can only have so many watching TP all day. One to the C&P the fortnightly bs.
Looks like some other p2p (once) 'high interest paying' platforms are heading south as well. I reckon the p2p arena will look very different 2019/2020.
|
|
|
|
Post by Deleted on Aug 12, 2018 7:43:01 GMT
My own view is that to maximise Lendy's business opportunties they have to do a re-organisation and move their more experienced staff onto debt recovery and stop focusing on winning more business, that would include stopping this stupid Cowes week sponsership, their trouble is they have signed up for three years so they have to go through with it. Getting off the tiger they have climbed onto means that to pay for it they have to keep growing the loan book and to focus management time on that.
So they should do A but are having to do B which is likely to be causing lot of stress and extra costs within the organisation. Now it may work and they may survive, they may have to split into two Lendy's (a good Lendy and a bad Lendy) if the FSA lets them, but I doubt it would.
They have another problem which is that P2P is born of the internet age, as I think Paul said, their business model is to "quickly try new things and if they don't work try something else" or words to that affect. Their problem is that they have two immovable objects that stop them being agile (as it is termed) one is the Cowes week costs and the other is the debts they have failed to manage well. Finally they are in the "internet age" and our chatter here and on Trustpilot is the the water in which they must swim. These stresses may explain a recent Director departure.
So I think our job is to continue to hold their feet to the fire to get our money back and, being from the internet age, they should welcome us for doing so. That they push back on trustpilot is fine. That they appear to cheat on their facebook page is part of being of the internet age but is not of the spirit of growing a trustworth brand. This last issue is a business mistake which they should be ashamed of.
I feel it is a mistake for Paul to have stopped engaging wiith us here, but since he is a good communicator I know he will be reading us. Paul time to fess up and give us a vision we can support.
|
|
|
|
Post by p2plender on Aug 12, 2018 9:41:04 GMT
"All it will take is some good quality loans to bring people back."
Yeah most will brush under the table their losses and offer a monetary olive branch back to Lendy. I mean it's just sheer bad luck that RICs valuations came in horribly wrong, rogue borrowers slipped through the net as well as some strange goings on with a BVI reg company. Apart from that it's been cushty. And nobody has 'ever lost a penny' so yes, a few new better quality loans might just get the good ship back off the rocks and setting sail once more. I'm undecided.. I think I'll see why Brooke's partner in crime has (fled?) left the scene.
|
|
|
|
Post by banffy on Aug 12, 2018 9:52:21 GMT
No, I'm not interested in Good Quality Loans now! What is going on with some peoples thinking? What I want and the majority of others is a focus on defaulted Loans getting recovered simple as that. Lendy?
|
|
|
|
Post by charliebrown on Aug 12, 2018 13:22:10 GMT
No, I'm not interested in Good Quality Loans now! What is going on with some peoples thinking? What I want and the majority of others is a focus on defaulted Loans getting recovered simple as that. Lendy? Attitude change and some good recoveries is the ONLY way out, I feel. I’m not sure how many of their 20,000 investors feel the same, but common sense says it’s probably a significant proportion. Imagine if LY dropped the smugness, treated every investor as if he/she was their only investor and accelerated decent outcomes for Exeter, Liverpool and Wolves (for a start) Things might start to look different. I’m just not sure whether they’ve got the appetite to change or whether the owners / leadership are really thinking long term.
|
|
|
|
Post by p2plender on Aug 17, 2018 13:20:28 GMT
A scathing but honest looking review has just landed. Let's see if Lendy get this removed. Gotta hope none of the potential new 'wealth' customers read it....  |
|
|
|
Post by Deleted on Aug 17, 2018 13:55:59 GMT
Looks like someone from Lendy is on holiday and they forgot to set up someone to keep complaining to TP, there are hoggins of 1 star complaints sat there from late July.
|
|
TenKay
Member of DD Central
Posts: 144
Likes: 117
|
Post by TenKay on Aug 17, 2018 16:14:55 GMT
doubtful
Published 5 hours ago Reported 14 minutes ago
|
|
|
|
Post by eascogo on Aug 17, 2018 18:17:50 GMT
Looks like someone from Lendy is on holiday and they forgot to set up someone to keep complaining to TP, there are hoggins of 1 star complaints sat there from late July. No they are still interfering. The 1-star review of 4h ago is worded in such a way as to leave little room for objections. Another "truly vile" review (87min ago) is probably going to be reported and disappear for a while. link
|
|
