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Post by jah on May 22, 2018 18:51:10 GMT
I noticed the amount of interest I was paid was wrong last month and asked Lendy what had happened. It took 2 weeks to get an answer.
They now say that any loans where the rate has changed during the loan (dual-rate) have been paying out short, with what Lendy calls a "Technical Display Issue". Lendy say they currently have no fix for this and have now stopped answering my emails, hence my message here, after 3 weeks of no fix and still paid short.
I have asked them to sort it before the next end of month.
E.G. DFL020 which paid out short (to me) last month.
Has anyone else heard of this?
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Post by p2plender on May 23, 2018 1:42:02 GMT
Stop showing off.
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geoff
Member of DD Central
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Post by geoff on May 23, 2018 7:49:27 GMT
I noticed the amount of interest I was paid was wrong last month and asked Lendy what had happened. It took 2 weeks to get an answer. They now say that any loans where the rate has changed during the loan (dual-rate) have been paying out short, with what Lendy calls a "Technical Display Issue". Lendy say they currently have no fix for this and have now stopped answering my emails, hence my message here, after 3 weeks of no fix and still paid short. I have asked them to sort it before the next end of month. E.G. DFL020 which paid out short (to me) last month. Has anyone else heard of this? Regarding DFL020, I submitted a support ticket in mid-March. The issue was that despite a rate change from 10 to 12% announced Dec 17, enhanced interest had not been paid and the rate was still showing in My Loans as 10%. A month later and no response, I chased up the ticket and was eventually treated to a response acknowledging the issue and crediting the missing interest. The display problem however remained but I was informed that senior members of their technical team were on the case and a fix was forthcoming. However to date, the display error is still evident.
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Post by jah on May 23, 2018 14:05:35 GMT
Lendy have finally replied to me today (not due to my posting here of course!).
Thank you for your email.
We are aware of this issue and we are working to resolve this. We hope to have this resolved by the next interest payment run.
In the meantime, we thank you for your patience whilst resolve this. Please accept our apologies for any inconvenience caused.
If word gets round that Lendy don't pay out correctly on loans this will surely affect their business. If I were them I'd fix this soon and take it more seriously.
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rocky1
Member of DD Central
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Post by rocky1 on Aug 12, 2018 13:27:07 GMT
Lendy have finally replied to me today (not due to my posting here of course!). Thank you for your email.
We are aware of this issue and we are working to resolve this. We hope to have this resolved by the next interest payment run.
In the meantime, we thank you for your patience whilst resolve this. Please accept our apologies for any inconvenience caused.
If word gets round that Lendy don't pay out correctly on loans this will surely affect their business. If I were them I'd fix this soon and take it more seriously. I have also contacted lendy 4 times regarding under payment of interest. Dfl20 plus other loans where they have supposed to have increased the rate will show up in my loans section at the old rates.i asked lendy to look at my account and bring up to date interest going back to Dec 2017.it adds up to a few hundred pounds that I am owed.i keep receiving the same reply as above and sent it back to them with a few choice words. Then I received the same response again.if you are in these loans from early tranches dfl20/18/14/or any where they say the rate has increased for new and existing investors have a quick check that you are being paid correctly.
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travolta
Member of DD Central
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Post by travolta on Aug 13, 2018 13:32:17 GMT
some of us are so abused by their performance that to receive anything is received with gratitude.
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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: 11,330
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Post by ilmoro on Sept 26, 2018 17:11:27 GMT
Well they got there in the end. Email says now fixed and interest will be paid by EOD paid Friday. Youll have to back in statements as it's being entered historically. Calculators at the ready 😁
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tx
Member of DD Central
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Post by tx on Sept 26, 2018 20:45:57 GMT
Wow, it is unbelievable Ly still in business and not being sued with such contractural breach.
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tx
Member of DD Central
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Post by tx on Sept 26, 2018 20:47:00 GMT
Any one tried the small claim court yet? I wonder what would happen if Ly is taken to court for this.
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hazellend
Member of DD Central
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Post by hazellend on Sept 26, 2018 20:51:04 GMT
Any one tried the small claim court yet? I wonder what would happen if Ly is taken to court for this. Did you read the update? They have fixed the software and are backdating the interest.
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hazellend
Member of DD Central
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Post by hazellend on Sept 26, 2018 21:43:55 GMT
Did you read the update? They have fixed the software and are backdating the interest. Excellent! So you’re saying we’re going to be compensated by being given interest on the missing interest yes? Don't know but it would be peanuts anway and really not a big deal.
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geoff
Member of DD Central
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Post by geoff on Sept 29, 2018 12:35:04 GMT
Mine appears as an entry - Interest Adjustment - on 01/12/2017. This is the date when the rate was increased from 10% to 12%.
The email announcing the correction received 26th this month stated "...The payments will show on your account with a historical date to prevent issues with our new interest tools."
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warn
Member of DD Central
Curmudgeon
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Post by warn on Sept 30, 2018 9:19:37 GMT
I suppose I’m “Lucky” I’ve not submitted my 17-18 return yet (Collateral!) since this payment would have entailed a revision. Surely the amount is taxable at the date it's actually paid, not when it should have been paid and wasn't? I'll be accounting for it in my 2018-19 return.
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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: 11,330
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Post by ilmoro on Sept 30, 2018 10:35:45 GMT
Surely the amount is taxable at the date it's actually paid, not when it should have been paid and wasn't? I'll be accounting for it in my 2018-19 return. Thanks warn , of course you’re right. Individuals are taxed when they actually get the cash, but I wonder if lendy’s Tax report for 17-18 has changed or not. I really hate it when transactions are changed retrospectively. Currently mine doesnt appear to have changed to reflect the correction made on 1/12/17 for DFL020. Cant check current year as I didnt have snapshot. DF014 was paid 1/5/18 so would be this year anyway.
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SteveT
Member of DD Central
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Post by SteveT on Oct 1, 2018 10:41:03 GMT
Whilst I've received the missing 2% interest (backdated to 1/12/17) for a DFL020 part that I already owned on 1/12/17, another part that I purchased shortly after (on 18/12/17) has not received an interest adjustment, despite receiving only 10% interest until I sold it on 14/7/18.
I've raised a support ticket to query this, but has anyone else also been short-changed on DFL020 parts purchased shortly after 1/12/17 ?
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