sussexlender
Member of DD Central
Cheat seeking missile
Posts: 550 
Likes: 916
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Post by sussexlender on Sept 28, 2018 14:24:46 GMT
A quick check on the Trustpilot Lendy site shows that Doreatha A from Canada is still hanging on to her 5 star tribute to Lendy posted on 25.09.18
Looking at her other 27 reviews (mainly 5 stars) I wonder if she has travelled to drive her car in Jamaica recently or visited her personal injury lawyer in the USA, moved home again in the UK, or Denmark, had a new quad bike or enjoyed her cryptocurrency trading this week?
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invester
P2P Blogger
Posts: 612
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Post by invester on Oct 2, 2018 15:52:38 GMT
Quite an interesting reply to a review:
I wonder if the different departments actually talk to each other? Seems rather ironic to claim something is factually correct.
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rocky1
Member of DD Central
Posts: 1,139
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Post by rocky1 on Oct 2, 2018 16:42:56 GMT
you only lose a few years interest and the IA and bonus.as for capital no investor has lost anything up to now.that is how lendy are selling it.
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Post by loftankerman on Oct 2, 2018 16:55:00 GMT
I read the review in question and thought the reviewer had a puzzling view of the risks involved. The only way I could imagine their outcome being many times worse than losing the capital would have been if they'd taken out a pay day loan to raise the capital to invest on a Lendy loan. I'm with Lendy on this one but happy to be educated.
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wuzimu
Member of DD Central
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Post by wuzimu on Oct 3, 2018 1:28:03 GMT
About 5000 Ly lenders know the review is factually correct
Tho to be fair unlikely
But anything is possible in LY-land
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TenKay
Member of DD Central
Posts: 144
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Post by TenKay on Oct 3, 2018 6:32:32 GMT
A quick check on the Trustpilot Lendy site shows that Doreatha A from Canada is still hanging on to her 5 star tribute to Lendy posted on 25.09.18
Looking at her other 27 reviews (mainly 5 stars) I wonder if she has travelled to drive her car in Jamaica recently or visited her personal injury lawyer in the USA, moved home again in the UK, or Denmark, had a new quad bike or enjoyed her cryptocurrency trading this week? Hi jeff k, Thank you for letting us know about the review posted by the user Doreatha A.. We appreciate your feedback. We’ll look into it and contact the reviewer if needed.
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TenKay
Member of DD Central
Posts: 144
Likes: 117
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Post by TenKay on Oct 3, 2018 16:13:24 GMT
latest review title
now that the problem , im now unsure what exactly im investing in anymore, i thought i was investing in loans with a high LTV, but as it transpires im not on some of the loans
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Post by loftankerman on Oct 3, 2018 17:09:35 GMT
latest review title
now that the problem , im now unsure what exactly im investing in anymore, i thought i was investing in loans with a high LTV, but as it transpires im not on some of the loans
You can't know what you are investing in as Lendy don't undertake to confirm that money is used for the purposes it was borrowed. An imagined viable holiday complex in the West Country could turn out to be a shed up't North if I have understood correctly.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,334
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Post by ilmoro on Oct 3, 2018 18:53:36 GMT
latest review title
now that the problem , im now unsure what exactly im investing in anymore, i thought i was investing in loans with a high LTV, but as it transpires im not on some of the loans
You can't know what you are investing in as Lendy don't undertake to confirm that money is used for the purposes it was borrowed. An imagined viable holiday complex in the West Country could turn out to be a shed up't North if I have understood correctly. Only if you didnt read the loan particulars where it was quite clear. Ive never invested in a viable holiday complex only in the northern sheds & yet I am in DFL005.
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Post by loftankerman on Oct 3, 2018 22:42:08 GMT
You can't know what you are investing in as Lendy don't undertake to confirm that money is used for the purposes it was borrowed. An imagined viable holiday complex in the West Country could turn out to be a shed up't North if I have understood correctly. Only if you didnt read the loan particulars where it was quite clear. Ive never invested in a viable holiday complex only in the northern sheds & yet I am in DFL005. Yeah, me too and the viable holiday complex was an oblique reference to DFL005, which, even if dragged to its doom by the sheds seems capable of a viable business future under some ownership.
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invester
P2P Blogger
Posts: 612
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Post by invester on Oct 4, 2018 12:13:21 GMT
Seems that the Lendy reply that claimed nobody could lose more money than they deposited has been deleted.
Also it appears (from the purple site) that the Metro Bank charge against the Provision fund is for a £1m loan. Not exactly the actions of a company that has increased it's cash holdings in the past year. Got a feeling the PF might end up eventually disappearing without use, if they could find a palatable way to do it.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,334
Likes: 11,558
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Post by ilmoro on Oct 4, 2018 13:05:54 GMT
Seems that the Lendy reply that claimed nobody could lose more money than they deposited has been deleted. Also it appears (from the purple site) that the Metro Bank charge against the Provision fund is for a £1m loan. Not exactly the actions of a company that has increased it's cash holdings in the past year. Got a feeling the PF might end up eventually disappearing without use, if they could find a palatable way to do it. The charge isnt straight forward. Its a charge on a deposit. Its LPR paying the £1m into the account not Metro. To be honest I dont really understand it but I have a feeling its some way of ring fencing the PF from any Lendy group creditors.
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Post by cashmax on Oct 4, 2018 13:09:36 GMT
I think it would be fair bet to suggest that the next set of accounts filed will show that Lendy is now making a loss. I also don't think it's likely that most of the employees at Lendy are aware of this.
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hazellend
Member of DD Central
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Post by hazellend on Oct 4, 2018 13:28:23 GMT
I think it would be fair bet to suggest that the next set of accounts filed will show that Lendy is now making a loss. I also don't think it's likely that most of the employees at Lendy are aware of this. Why do you think Lendy are making a loss? They have multiple income streams including free money from investors leaving their money sitting on the SM.
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mary
Member of DD Central
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Post by mary on Oct 4, 2018 13:58:33 GMT
I think it would be fair bet to suggest that the next set of accounts filed will show that Lendy is now making a loss. I also don't think it's likely that most of the employees at Lendy are aware of this. Why do you think Lendy are making a loss? They have multiple income streams including free money from investors leaving their money sitting on the SM. While we can only speculate on their current profitability, it a fact that staff costs have increased (as they keep trumpeting their new hires in the recoveries dept) and legal costs must be substantially higher due the huge increase in defaults. At the same time a very large decline in the IOA live loan book has reduced their revenue. Costs UP and revenues DOWN is not a great place to be for any business.
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