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Post by darkgen on Mar 21, 2019 18:36:50 GMT
I've been lurking in and out of this thread since Christmas and have to confess to achieving something akin to the above; a zen-like calm about the whole episode. I suspect these next few weeks could derail this latest state! Time will tell.
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keith
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Post by keith on Mar 22, 2019 9:19:10 GMT
Can’t say I am losing any sleep. Even if the borrower is daft enough to pursue this and even if all the stars align that she even wins (neither of which I believe) all she will get from us is a claim on a bunch of Lendy loans that are also in default.
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Mucho P2P
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Post by Mucho P2P on Mar 22, 2019 11:56:00 GMT
To be frank, im not in the slightest bit worried about this. if I ever do receieve any coms, its then ill start to think about it. in the meantime im really enjoying life. this issue is not affecting me. ive no doubt what the outcome will be whatsoever. if people want to throw their money away, thats fine by me. lendy were right to call in this loan. Agree with you fully, however on one point, if lendy waited just a few more days in calling in the loan (they should have sought legal advice on the exact day to call in the loan), it would have reduced the claimants legitimate grievances somewhat. Bad foresight in timing by Lendy!
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Grezza
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Post by Grezza on Mar 22, 2019 12:57:39 GMT
To be frank, im not in the slightest bit worried about this. if I ever do receieve any coms, its then ill start to think about it. in the meantime im really enjoying life. this issue is not affecting me. ive no doubt what the outcome will be whatsoever. if people want to throw their money away, thats fine by me. lendy were right to call in this loan. Agree with you fully, however on one point, if lendy waited just a few more days in calling in the loan (they should have sought legal advice on the exact day to call in the loan), it would have reduced the claimants legitimate grievances somewhat. Bad foresight in timing by Lendy! 'If Lendy waited just a few more days' but what on earth has Lendy's decisions (good or bad) got to do with me being pursued by the borrower? It's nothing to do with me how they handled the loan. I'm not even allowed to know who the borrower is. All I want is my interest and capital back, not much to ask for is it?
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r1200gs
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Post by r1200gs on Mar 22, 2019 13:36:26 GMT
Agree with you fully, however on one point, if lendy waited just a few more days in calling in the loan (they should have sought legal advice on the exact day to call in the loan), it would have reduced the claimants legitimate grievances somewhat. Bad foresight in timing by Lendy! 'If Lendy waited just a few more days' but what on earth has Lendy's decisions (good or bad) got to do with me being pursued by the borrower? It's nothing to do with me how they handled the loan. I'm not even allowed to know who the borrower is. All I want is my interest and capital back, not much to ask for is it?
With Lendy, it apparently is. Just getting my capital back would be a miracle.
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Mucho P2P
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Post by Mucho P2P on Mar 22, 2019 18:13:34 GMT
Agree with you fully, however on one point, if lendy waited just a few more days in calling in the loan (they should have sought legal advice on the exact day to call in the loan), it would have reduced the claimants legitimate grievances somewhat. Bad foresight in timing by Lendy! 'If Lendy waited just a few more days' but what on earth has Lendy's decisions (good or bad) got to do with me being pursued by the borrower? It's nothing to do with me how they handled the loan. I'm not even allowed to know who the borrower is. All I want is my interest and capital back, not much to ask for is it? You are being pursued by the borrower as she has the legal privilege to do so in this country, and reaffirmed her rights under a 100+ year old law. You appointed Lendy on a virtually blank carte blanche to handle the loans, so if a borrower believes they have been aggrieved by Lendy (who you effectively gave nothing short of an agency agreement, or limited Power of Attorney to process the deal on your behalf), they can come after you. Investments rise and fall, you might not get all or any of your money back. All these points that I have answered were addressed fully in the previous sections of this loan thread. As I am sure you are aware, ignorance is no excuse in law! Tough but true. See my PM for further info. Thx
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Post by faraday815 on Mar 23, 2019 0:26:05 GMT
May I also be the gracious recipient of one of these PMs please Mucho P2P?
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Post by gterr on Mar 23, 2019 0:50:59 GMT
Likewise, Mucho P2P, if you'd be so kind.
G
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Post by masquedefer on Mar 23, 2019 8:30:10 GMT
Thread closure countdown @ 10.00 am today. 9 days 6 hours?
By then either we are being sued and need to communicate by other means or we aren’t being sued and thread can be closed?
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Post by highlandtiger on Mar 23, 2019 9:12:44 GMT
Just wondering what will come first. Brexit, or the end to this court case.
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Post by queenvictoria on Mar 23, 2019 9:22:33 GMT
Likewise, Mucho P2P, if you'd be so kind. G Me too please Mucho P2P. Thank you
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Post by robert490 on Mar 23, 2019 9:59:49 GMT
I have been very impressed with your knowledge base on this Mucho P2P. If you could PM me also this would be most appreciated!
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Post by picanto on Mar 23, 2019 12:18:50 GMT
Thread closure countdown @ 10.00 am today. 9 days 6 hours? By then either we are being sued and need to communicate by other means or we aren’t being sued and thread can be closed? I don't see a reason to close the thread, even if the borrower doesn't sue the lenders, there's still a very big matter of recovering investors funds. There's still a long way to go regarding this loan.
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Post by staph on Mar 23, 2019 14:50:26 GMT
There is a legal contradiction here - the court is taking the lenders as having responsibility (whatever that turns out to mean) as owners of the loan yet with collateral uk (in adminisration) is it appears the lenders are now legally just an ordinary creditors thus not in ownership (I gather anyway - both situations are rather opaque)
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keith
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Post by keith on Mar 23, 2019 20:25:00 GMT
Yes, interesting point.
Does legal precedent work here? But, maybe it doesn’t matter in the least, the claim will not be served in my view.
Even if served by e-mail, I reckon the law firm (no win, no fee, admittedly) would bill at least a tenner (AT LEAST!!!!!, more likely several times that) to merely send such emails - so just delivering the claims to 5000 lenders is 50k pounds in costs up front.
So, add the other uncertainties then good luck.......
I’ll happily await the borrowers claims on my other dodgy Lendy loans. Might even be glad to be shot of them in a good cause as my portfolio calculation values them as zero right now
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