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Post by GSV3MIaC on Feb 19, 2019 9:55:48 GMT
You could say that about any company .. 'don't downcheck them to preserve my warranty value by keeping them in business'. Then we just need to rename the review site to 'Fakepilot' or something, and all will be fine.? I would think very carefully before I posted something that could cost investors millions of pounds!
Now I'm confused - is it the 5* review or the 1* review which 'could cost investors millions of pounds' ??.
Ah, maybe I get it .. both could, but in the first case it's the new investors rather than the existing ones, so that's OK??
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one21
Member of DD Central
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Post by one21 on Feb 19, 2019 11:02:16 GMT
I would think very carefully before I posted something that could cost investors millions of pounds!
Now I'm confused - is it the 5* review or the 1* review which 'could cost investors millions of pounds' ??.
Ah, maybe I get it .. both could, but in the first case it's the new investors rather than the existing ones, so that's OK??
It’s not so much the stars, but the type of comments that go with them. We all know they are going through a bad patch, but they need to be given a chance to make good - instead of driving them into the ground. It is evident that L are trying to turn things around by the type of lower risk loans that are now on offer to existing and ‘new investors’. After all it is up to each ‘sophisticated’ individual whether to invest or not. I would advise existing investors that if they have nothing positive to write then don’t bother for everyone’s sake.
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invester
P2P Blogger
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Post by invester on Feb 19, 2019 11:19:21 GMT
What are these new loans? I haven't seen them, only tranches of others.
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Post by portlandbill on Feb 19, 2019 11:25:27 GMT
What are these new loans? I haven't seen them, only tranches of others. i agree, what new loans?
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Post by charliebrown on Feb 19, 2019 12:03:47 GMT
Have a look on Trustpilot.... What a totally embarrassing company Lendy is. How on earth can they show themselves in public let alone Cowes week! What sort of business - (very loose description here) spends its day on Trustpilot trying to defend itself and having factually correct reviews taken down in the hope of trying to preserve the sham that it has become. On behalf of Lendy, apologies to all those good P2P companies out there creating jobs, lending money, earning money for investors and trying to do things right. Clapped out old donkeys are usually shot aren't they? If L go under, then how are Lenders going to get their investments back? Most of it will be taken by administrators. I think this tone of post is contributing to their (our) downfall! I am in COL and I’m all too aware of what a mess we would have on our hands if LY go under. The COL Administrators are shameless parasites that are maximising their profits and delivering nothing. However, the only people responsible for LY’s downfall is LY themselves. If they had any empathy they wouldn’t treat their customers the way they treat them. Just for transparency, I have not posted a TP review for LY but that’s not because I’m trying to save my skin, as I believe LY are sunk with or without my 1 star review. LY has sunk their own ship, but they had one hell of a good ride whilst it lasted.
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Mucho P2P
Member of DD Central
Posts: 946
Likes: 1,635
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Post by Mucho P2P on Feb 19, 2019 14:31:33 GMT
Now I'm confused - is it the 5* review or the 1* review which 'could cost investors millions of pounds' ??.
Ah, maybe I get it .. both could, but in the first case it's the new investors rather than the existing ones, so that's OK??
It’s not so much the stars, but the type of comments that go with them. We all know they are going through a bad patch, but they need to be given a chance to make good - instead of driving them into the ground. It is evident that L are trying to turn things around by the type of lower risk loans that are now on offer to existing and ‘new investors’. After all it is up to each ‘sophisticated’ individual whether to invest or not. I would advise existing investors that if they have nothing positive to write then don’t bother for everyone’s sake. " it is up to each ‘sophisticated’ individual whether to invest or not"<-----Whilst this is true, I believe that Lendy is still open to the "retail" investor to invest, and clearly, Lendy is not an apt organisation for the retail customers to place funds with, as there is significant chance of retail funds being trapped in the "defaulted" status.
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Mucho P2P
Member of DD Central
Posts: 946
Likes: 1,635
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Post by Mucho P2P on Feb 19, 2019 14:39:17 GMT
Now I'm confused - is it the 5* review or the 1* review which 'could cost investors millions of pounds' ??.
Ah, maybe I get it .. both could, but in the first case it's the new investors rather than the existing ones, so that's OK??
It’s not so much the stars, but the type of comments that go with them. We all know they are going through a bad patch, but they need to be given a chance to make good - instead of driving them into the ground. It is evident that L are trying to turn things around by the type of lower risk loans that are now on offer to existing and ‘new investors’. After all it is up to each ‘sophisticated’ individual whether to invest or not. I would advise existing investors that if they have nothing positive to write then don’t bother for everyone’s sake. " the type of lower risk loans that are now on offer to existing and ‘new investors’. " <--------- Lower risk??? Hum.... I hope that Lendy are not using the same valuers to place a "market value" on these lower risk loans as Lendey has used in the past, otherwise, these loans as well won't be able to be realised for their valued amounts in the event they need to be auctioned off to recoup the lenders funds.
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one21
Member of DD Central
Posts: 398
Likes: 265
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Post by one21 on Feb 19, 2019 17:22:14 GMT
It’s not so much the stars, but the type of comments that go with them. We all know they are going through a bad patch, but they need to be given a chance to make good - instead of driving them into the ground. It is evident that L are trying to turn things around by the type of lower risk loans that are now on offer to existing and ‘new investors’. After all it is up to each ‘sophisticated’ individual whether to invest or not. I would advise existing investors that if they have nothing positive to write then don’t bother for everyone’s sake. " the type of lower risk loans that are now on offer to existing and ‘new investors’. " <--------- Lower risk??? Hum.... I hope that Lendy are not using the same valuers to place a "market value" on these lower risk loans as Lendey has used in the past, otherwise, these loans as well won't be able to be realised for their valued amounts in the event they need to be auctioned off to recoup the lenders funds. I agree! I also hope they understand the need to recover the trust and credibility they once had. On a positive note there were 150 fully paid up loans, when I last checked the platform.
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Post by loftankerman on Feb 27, 2019 17:06:13 GMT
A somewhat different one star review today. They usually have me nodding in agreement but most frequently shaking my head and thinking 'You'll never get away with that!" Today's was odd and led me to assume that if I had a DDC club member's decoder ring, all would become clear. I'll be watching to see what the Lendy censors have to say about this one.
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Mucho P2P
Member of DD Central
Posts: 946
Likes: 1,635
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Post by Mucho P2P on Feb 27, 2019 17:34:59 GMT
A somewhat different one star review today. They usually have me nodding in agreement but most frequently shaking my head and thinking 'You'll never get away with that!" Today's was odd and led me to assume that if I had a DDC club member's decoder ring, all would become clear. I'll be watching to see what the Lendy censors have to say about this one. I was a bit slow today!! Review already gone!! Lendy does not reply to my emails this quickly!! Why not? Maybe I will place my queries on TP for faster response times from Lendy! 
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Post by p2plender on Feb 28, 2019 0:53:50 GMT
Pathetic Lendy, pathetic company trying to stop people/investors who have probably seen a collapse in their investments from speaking the truth all in the vain hope some others mugs will arrive to prop up the sinking ship. Every forum I go on and everyone person I meet at trade/investment shows I warn them about this lot. I will continue to until Lendy return what I expected when I voted for the outcome of DFL004 - the vote which Lendy conned investors into thinking we had a say and then decided to change the vote and do what they wanted to do, no doubt knowing some juicy 'recovery fees' would be coming their way. Abhorrent company.
**Not about money, it's about principal**
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Post by loftankerman on Feb 28, 2019 8:37:20 GMT
The value of lender voting was made clear when Lendy announced their proposals for it. Essentially it was that they would note the lenders' views but please themselves where they disagreed. Presumably they envisaged and wished to avoid a situation where Lendy was on a high ledge and the lenders below were all demanding that they jumped. They could also have been concerned that more questionable reasons for their choices might be safer left unexplained.
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Post by p2plender on Feb 28, 2019 8:40:25 GMT
So why waste time with a vote knowing they would be doing what they chose (un)fit? Bit like the mysterious provision fund. I'm sure it will all come out in the wash. Small wonder Mr B chose to 'lend' money back to Lendy...  |
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Post by loftankerman on Feb 28, 2019 9:11:10 GMT
So why waste time with a vote knowing they would be doing what they chose (un)fit? Bit like the mysterious provision fund. I'm sure it will all come out in the wash. Small wonder Mr B chose to 'lend' money back to Lendy... Well I guess you could call the provision to permit themselves to ignore the vote their 'Backstop'.
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Mucho P2P
Member of DD Central
Posts: 946
Likes: 1,635
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Post by Mucho P2P on Feb 28, 2019 9:14:47 GMT
Pathetic Lendy, pathetic company trying to stop people/investors who have probably seen a collapse in their investments from speaking the truth all in the vain hope some others mugs will arrive to prop up the sinking ship. Every forum I go on and everyone person I meet at trade/investment shows I warn them about this lot. I will continue to until Lendy return what I expected when I voted for the outcome of DFL004 - the vote which Lendy conned investors into thinking we had a say and then decided to change the vote and do what they wanted to do, no doubt knowing some juicy 'recovery fees' would be coming their way. Abhorrent company. **Not about money, it's about principal** "everyone person I meet at trade/investment shows I warn them about this lot " <<<-----Surprisingly enough, I do not think that there was ever one instance of a trade show that I attended, where one of the P2P companies present has not mentioned the fiasco at Lendy to me!! It seems every company in the P2P sector is watching the Lendy space! Is that not enough reason for Mr. LB to get his act together and start being more aggressive towards defaulted borrowers on behalf of the lenders? Maybe the reason is that Lendy makes so much in fees and "extras" from loan arrangements (as we have seen from the recent contracts) that they are not bothered to recoup the lenders funds? Actions speak louder than words, take note Lendy.
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