rocky1
Member of DD Central
Posts: 1,139 
Likes: 1,963
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Post by rocky1 on Aug 23, 2018 6:31:33 GMT
6 reviews pulled in the last 2 hours. minutes after being posted they were reported. come on lendy we never even got chance to read them.surprised some from lendy up at this time of morning.
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Post by p2plender on Aug 23, 2018 6:40:26 GMT
Totally embarrassing company. Never come across the like, hopefully never will again. Even the last of the cheerleaders here must be secret head shaking.
The company has degenerated into full time TP surveillance!
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reinvestor
Member of DD Central
Posts: 194
Likes: 224
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Post by reinvestor on Aug 23, 2018 7:53:45 GMT
6 reviews pulled in the last 2 hours. minutes after being posted they were reported. come on lendy we never even got chance to read them.surprised some from lendy up at this time of morning. Indeed.
Surely if they are at the office at that hour, they should be doing some work to prevent these reviews being so bad rather than concentrating their efforts on pulling TP posts.
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Post by sayyestocress on Aug 23, 2018 8:59:24 GMT
Do people take trust pilot reviews seriously enough to be worth the effort of posting and removing all these reviews? I take TP with a pinch of salt as people tend to over exaggerate the good and the bad.
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wuzimu
Member of DD Central
Posts: 236
Likes: 735
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Post by wuzimu on Aug 23, 2018 9:42:41 GMT
Unless some of the large non-performing loans are recovered soon, Lendy could be the first large scale P2P failure. Managements interests appear to have totally diverged from those of lenders - to whom they owe a fiduciary duty.
IMO reviews on TrustPilot are something and nothing.
Concerned lenders need to alert FCA to their concerns - email consumer.queries@fca.org.uk
FCA do not hear individual complaints (that would be FOS).
FCA are required to regulate financial markets and companies to prevent consumer detriment. They look for compliance with FCA Handbook which is a big and evolving set of obligations FCA authorized firms (such as Lendyy) must adhere to.
Central to these is firms must be 'Treating Customers Fairly' (TCF) by following the 'Principles of Business'
FCA have a department dealing with fintech (incl P2P). But they are probably more focussed on getting firms approved ATM, rather than scrutinizing compliance right now. FCA are a slow moving beast but once a topic or company comes onto their radar they have great regulatory powers. We lenders must hope that FCA gets the Lendy situation on its radar ASAP. Lenders must appreciate P2P is small beer compared to banking, insurance, pensions, etc and FCA naturally focus on the biggest markets.
That is why lenders need to email FCA if they are concerned about Lendy, framing in terms of TCF outcomes and Principles of Business.
If lenders wait for Lendy to implode there will be no value left after the fines, administrators costs, legal fees etc. I've seen it all before.
Email the FCA! You won't get any apparent response, but even a few 100 emails will get a ball rolling that might make a difference to the outcome of this.
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wuzimu
Member of DD Central
Posts: 236
Likes: 735
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Post by wuzimu on Aug 23, 2018 9:45:41 GMT
Actually I started a thread called FCA last night and I will post the 'Principles of Business' sointerested lenders can consider how they have been treated by Lendy in relation to those.
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TenKay
Member of DD Central
Posts: 144
Likes: 117
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Post by TenKay on Aug 23, 2018 11:45:49 GMT
Do people take trust pilot reviews seriously enough to be worth the effort of posting and removing all these reviews? I take TP with a pinch of salt as people tend to over exaggerate the good and the bad. most of the reviews re LY i have read are factual and if the person reading them wants to take these facts with a pinch of salt, they then deserve what they get in this instance
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TenKay
Member of DD Central
Posts: 144
Likes: 117
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Post by TenKay on Aug 23, 2018 11:46:48 GMT
6 reviews pulled in the last 2 hours. minutes after being posted they were reported. come on lendy we never even got chance to read them.surprised some from lendy up at this time of morning. i also noted that TP have changed their under review mesage
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Post by cashmax on Aug 23, 2018 12:26:14 GMT
Yep, looks like Lendy have upped the stakes, perhaps taking Trustpilot's premium service, with Trustpilot starting to freeze users accounts now. Really does show how useless review companies like Glassdoor and Turstpilot can be when the people have strong opinions.
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TenKay
Member of DD Central
Posts: 144
Likes: 117
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Post by TenKay on Aug 23, 2018 14:52:23 GMT
YET
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Post by loftankerman on Aug 24, 2018 14:03:08 GMT
Hilarious! Of the first 9 reviews, the first two have been posted in the last six hours, the next seven have all been taken down by TP because Lendy don't like them. By the way, when I say TP I mean Trustpilot not T*k**g the P**s.
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invester
P2P Blogger
Posts: 612
Likes: 618
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Post by invester on Aug 24, 2018 20:32:44 GMT
When it says 'reviewer contacted', what does that mean? Does Lendy persue you with the carrot or the stick?
Asking for a friend.
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Post by Proptechfish on Aug 24, 2018 22:01:46 GMT
When it says 'reviewer contacted', what does that mean? Does Lendy persue you with the carrot or the stick? Asking for a friend. TP send out a stock question at the request of LY usually along the lines of confirming your review is genuine. TP will act as an intermediary, LY shouldn't contact you directly. However, worth noting LY will probably scan their database for know investor emails so if you're going to let rip don't use your investment account email. It will only end in tears.
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Post by GSV3MIaC on Aug 25, 2018 6:40:49 GMT
Ly ask for your user id to prove that you actually are a customer. Iirc it was Ly that did it, not TP, although TP may have asked and then sent the info on for confirmation by Ly.
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Post by p2plender on Aug 25, 2018 10:31:55 GMT
I've posted several reviews about different products/companies some good, some bad. I've never been asked to confirm I'm a customer. More nonsense from this excuse of a company.
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