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Post by Badly Drawn Stickman on Apr 12, 2019 14:36:41 GMT
Update now available. Just a promise of a later update. Arguably a little bit more than that.
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Post by si on Apr 12, 2019 15:25:55 GMT
Yes new update - brief answers to a few questions raised but ultimately wait for an update a lot later on for more information.
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Post by nevets on Apr 12, 2019 15:27:17 GMT
Update now available. Just a promise of a later update. Arguably a little bit more than that. Only a little bit more though. All of those answers are some variation of "We don't know yet".
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rocky1
Member of DD Central
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Post by rocky1 on Apr 12, 2019 15:36:34 GMT
are lendy trying to say that we must pay H*Rscost of lendy taking them on for our free advice?
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Post by Badly Drawn Stickman on Apr 12, 2019 15:39:09 GMT
Arguably a little bit more than that. Only a little bit more though. All of those answers are some variation of "We don't know yet". Indeed, not a lot more. They have however acknowledged the issues and 'plan' to address them. It did sound fairly positive, which is always comforting.
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adrianc
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Post by adrianc on Apr 12, 2019 16:13:54 GMT
are lendy trying to say that we must pay H*Rscost of lendy taking them on for our free advice? They don't seem to be - but you could easily read an implication that they might... Umm, which part of "Sod that"?
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Mucho P2P
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Post by Mucho P2P on Apr 12, 2019 16:21:31 GMT
Only a little bit more though. All of those answers are some variation of "We don't know yet". Indeed, not a lot more. They have however acknowledged the issues and 'plan' to address them. It did sound fairly positive, which is always comforting. Lendy have acknowledged many issues in the past, and still nothing visibly, nor materially [for the lenders] happened. Lendy generally seems to put a positive "spin" on the updates where possible, so all things considered, the only positive here is that "no news = good news"!
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delboy
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Post by delboy on Apr 12, 2019 17:29:00 GMT
are lendy trying to say that we must pay H*Rscost of lendy taking them on for our free advice? I seem to recall Lendy saying in previous correspondence that they were paying for this (with a subtext of “you should think yourselves lucky for our generosity”). Although I’m not exactly sure what costs they are now referring to.
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Mousey
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Post by Mousey on Apr 12, 2019 17:36:12 GMT
It would be rather disappointing if they deducted the H*R fee's first from any recovery. I hope this isn't what they are alluding to!
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Post by Badly Drawn Stickman on Apr 12, 2019 18:20:17 GMT
It would be rather disappointing if they deducted the H*R fee's first from any recovery. I hope this isn't what they are alluding to! Maybe they are saying after covering the initial fees for familiarity, they are going to cover any additional fees as well. (I may need to poke my hat) Equally it could be interpreted in many other ways. Actually fairly impressive to achieve that in just two sentences.
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Post by meg on Apr 12, 2019 21:12:38 GMT
Does anyone know if there have been any significant/expected events between the last update and today which would have meant Lendy was in a better position to provide us with the "more information" they promised? The previous update implied there was but at the moment all the answers to the questions (bar one) just give the standard response we all know too well and is wearing very thin.
Lendy clearly threw in the H** fees question to "prepare" us for the deduction from the recovery.
They'll probably be charging us for the legal costs they've incurred for advice on if they're allowed to charge us for H** too!!
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rocky1
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Post by rocky1 on Apr 13, 2019 6:30:45 GMT
Have you been missold a p2p loan ?.with all this ppi gravy train coming to a end soon i can see a lot of these companies taking a look at this p2p business.a lot of platforms have been blatantly economical with the presentation of many loans where much information was kept from lenders.platforms do not try to sell a loan to you but if feels like they are reeling you into them.massive over valuations,low LTVs,PGs and debentures that have proved time and time again to be very mis leading when a loan is brought to a platform.these companies are already set up for this sort of thing and will have plenty of time to scour through T&Cs,false loan updates and the general mishandling and monitoring of loans once they are filled.a few test cases might make these platforms realise that it cannot continue like this leaving lenders behind in default loans and trying to pull the next generation of naive lenders in with the same tactics. Sorry for off topic.but this p2p industry needs some serious looking into by the regulators.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Apr 14, 2019 2:00:44 GMT
Have you been missold a p2p loan ?.with all this ppi gravy train coming to a end soon i can see a lot of these companies taking a look at this p2p business.a lot of platforms have been blatantly economical with the presentation of many loans where much information was kept from lenders.platforms do not try to sell a loan to you but if feels like they are reeling you into them.massive over valuations,low LTVs,PGs and debentures that have proved time and time again to be very mis leading when a loan is brought to a platform.these companies are already set up for this sort of thing and will have plenty of time to scour through T&Cs,false loan updates and the general mishandling and monitoring of loans once they are filled.a few test cases might make these platforms realise that it cannot continue like this leaving lenders behind in default loans and trying to pull the next generation of naive lenders in with the same tactics. Sorry for off topic.but this p2p industry needs some serious looking into by the regulators. Even the worst P2P return a profit for the majority of the investors that is greater than banks 0.05-2% . So I would doubt you could have a claim for what might have been. With PPI you had less cash after you bought it. In P2P you have more. Perhaps less than you would have liked but still more. Every P2P platform would have warned your money was at risk.
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Post by p2plender on Apr 14, 2019 6:20:42 GMT
Rocky1
Plenty of stuff going on behind the scenes, trust me.
Someone thinks he's bomb proof yet has made quite a school boy error. Quite sure the bragging pic of the lush gardens will come back to bite.
#KARMA
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Post by brightspark on Apr 14, 2019 7:43:19 GMT
Have you been missold a p2p loan ?.with all this ppi gravy train coming to a end soon i can see a lot of these companies taking a look at this p2p business.a lot of platforms have been blatantly economical with the presentation of many loans where much information was kept from lenders.platforms do not try to sell a loan to you but if feels like they are reeling you into them.massive over valuations,low LTVs,PGs and debentures that have proved time and time again to be very mis leading when a loan is brought to a platform.these companies are already set up for this sort of thing and will have plenty of time to scour through T&Cs,false loan updates and the general mishandling and monitoring of loans once they are filled.a few test cases might make these platforms realise that it cannot continue like this leaving lenders behind in default loans and trying to pull the next generation of naive lenders in with the same tactics. Sorry for off topic.but this p2p industry needs some serious looking into by the regulators. Even the worst P2P return a profit for the majority of the investors that is greater than banks 0.05-2% . So I would doubt you could have a claim for what might have been. With PPI you had less cash after you bought it. In P2P you have more. Perhaps less than you would have liked but still more. Every P2P platform would have warned your money was at risk. You seem to be suggesting that because overall the account of an individual does not make a loss that individual defective loans are of no account in the reckoning. That argumentation seems seriously flawed to me when I review certain loan proposals where investors were provided with information that was in some way or ways completely at odds with what subsequently transpired.
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