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Post by robberbaron on Apr 3, 2019 17:13:50 GMT
Clearly Lendy and H** believe otherwise.
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Post by gaza77 on Apr 3, 2019 17:32:37 GMT
Us lenders were never part of any court case. There is no court case against Lendy any more. Lendy are now into perfectly normal recovery of bad debts from a loan that goes south. As and when any come in, the loan will be partially repaid as any other bad debt.
" Lendy are now into perfectly normal recovery of bad debts from a loan that goes south. As and when any come in, the loan will be partially repaid as any other bad debt. " <- after Lendy deducts their costs for the recovery of this loan (and legal costs for the case), do not hold high hopes for that much capital back, as pursuing the borrowers and PGs, in this case, will be all but out of Lendy capabilities. Unless they believe otherwise? I am a bit confused by this. I know of other cases where Lendy has recovered loans with no obvious associated legal costs. An acquaintance of mine has got 73% back of a defaulted loan and Lendy are pursuing the borrowers for the rest. No mention of charging the lender for the legal costs. In this specific case Lendy can not have spent more than £0.5M - that is a small fraction of the property value? The only time the recovered debt was well below par was when the property valuation was completely innacurate - my daughter only got back, so far, one quater of the Welsh fiasco - still no mention of legal costs though! The London property is listed as being worth very, very roughly £6M ,there is an associated ‘value of ancilliary security and claims’ valued at approx half the value of the property. Anyone know what the latter of the two security values are? I was counting on getting 70% back - is this optimistic?
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jhma
Member of DD Central
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Post by jhma on Apr 3, 2019 17:39:57 GMT
........As is evidenced by certain statements in the H** letter.
May I suggest that anyone concerned does the following:
1) If you received the letter, ask H** to clarify any questions you may have
2) If you didn't receive the letter but would like to see what the discussion is about, contact H** if you are a validated lender to these loans and ask them to send one to you
3) Regardless, also send any questions you have directly to Lendy Customer support and if they are not answered in the expected update from lendy to validated lenders, escalate.
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adrianc
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Post by adrianc on Apr 3, 2019 17:51:38 GMT
Clearly Lendy and H** believe otherwise. The lawyers will spin it as they wish, in order to continue their scaremongering "retainer" gravy train out for as long as possible. I've not seen anything from Ly that suggests "otherwise". Perhaps you'd be so kind?
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travolta
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Post by travolta on Apr 3, 2019 18:07:24 GMT
Could some please remind me how to get through the private portal again please,thanks
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Post by Badly Drawn Stickman on Apr 3, 2019 18:07:57 GMT
Clearly Lendy and H** believe otherwise. The lawyers will spin it as they wish, in order to continue their scaremongering "retainer" gravy train out for as long as possible. I've not seen anything from Ly that suggests "otherwise". Perhaps you'd be so kind? The last line of the current update begins...... Without........and ends........all of the Claimants. Its not a lot of reading really, and is fairly clear in its intent. I would suggest it backs up adrianc
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adrianc
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Post by adrianc on Apr 3, 2019 18:22:01 GMT
If you're looking at that update, I'm really not sure you need go further than...
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mickj
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Post by mickj on Apr 3, 2019 18:22:26 GMT
Could some please remind me how to get through the private portal again please,thanks It's in L DD Here
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Post by vithca on Apr 3, 2019 18:56:05 GMT
If you're looking at that update, I'm really not sure you need go further than...
Yeah that’s another thing, Any chance anyone could explain why we are seeing double here. Am I missing something? Two different loans?
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keith
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Post by keith on Apr 3, 2019 19:14:16 GMT
That was my guess. I expect they have to differentiate between the loans should the factors driving the case differ across them. Besides, it could theoretically be two mutually exclusive groups.
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MarkT
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Post by MarkT on Apr 3, 2019 19:17:48 GMT
That was my guess. I expect they have to differentiate between the loans should the factors driving the case differ across them. Besides, it could theoretically be two mutually exclusive groups.
Two overlapping groups would be my guess.
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sydb
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Post by sydb on Apr 3, 2019 20:02:54 GMT
Yeah that’s another thing, Any chance anyone could explain why we are seeing double here. Am I missing something? Lender groups relating to the two different loans. They are referred to separately in the Particulars Of Claim (POC).
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ben
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Post by ben on Apr 3, 2019 20:53:23 GMT
They already know, Lendy have had to provide this information previously. I think it was mentioned earlier (I really don't fancy wading through to find it) that there may well be a data protection aspect in this somewhere. Might be a subject Lendy could give a view on, given they would have supplied the data presumably with conditions? I am sure the data would have been given with conditions, but I am pretty sure the few million quid given was given with conditions and look how well that worked out. Would you honestly trust anyone involved in this to not misuse date.
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Post by Badly Drawn Stickman on Apr 3, 2019 21:13:50 GMT
I think it was mentioned earlier (I really don't fancy wading through to find it) that there may well be a data protection aspect in this somewhere. Might be a subject Lendy could give a view on, given they would have supplied the data presumably with conditions? I am sure the data would have been given with conditions, but I am pretty sure the few million quid given was given with conditions and look how well that worked out. Would you honestly trust anyone involved in this to not misuse date. I did phrase it as a question in the hope that Lendy would make comment. It's entirely guesswork on my part, but I assume only the various solicitors received the information. Clearly their integrity is beyond question?
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oddis
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Post by oddis on Apr 4, 2019 7:17:00 GMT
Companies/holders of data are required to delete personal data once the purpose is completed, according to GDPR. The Court order has now lapsed, and as far as i can see the claimant needs to apply again. I have no idea who has our data, the claimant or the solicitor, but let's hope it is the solicitor and that they know what kind of info they have.
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