debaura
Member of DD Central
Posts: 277 
Likes: 318
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Post by debaura on Oct 26, 2018 23:43:08 GMT
I am in this loan for a few grand. I have resigned myself to the fact that this has gone along with the other thousands i have lost over at moneything. Holding my breath on Collateral. This whole scenario is complete fantasy. Dont let it even enter your head fellas. I know that easy to say but the absolute logical outcome from this is nothing at all. Can you imagine the implications around the world if they pulled it off. It does give you pause for thought as to whether you should carry on dipping your toes into p2p. Seems like its just not worth the hassle anymore to me Why don't you be a bit optimistic. We should get our money back on this + interest, the borrowers claims are nonsense.
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Post by patright on Oct 27, 2018 7:04:17 GMT
Markets are crashing, real este to follow shorty, already the case in several countries/cities
P2P is investment when all is good and rosy (and of course with serious lenders, with Lendy, 70% of the loan book is defaulted in time of economic growth)
does not take a genius indeed to realise it can only go south from here..
so deposit zero, p2p and market now risky..real estate over valued
only thing I see that's not overvalued are the precious metal right now
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tommytaylor
P2P - The new wild west
Posts: 232
Likes: 370
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Post by tommytaylor on Oct 27, 2018 7:25:35 GMT
I am in this loan for a few grand. I have resigned myself to the fact that this has gone along with the other thousands i have lost over at moneything. Holding my breath on Collateral. This whole scenario is complete fantasy. Dont let it even enter your head fellas. I know that easy to say but the absolute logical outcome from this is nothing at all. Can you imagine the implications around the world if they pulled it off. It does give you pause for thought as to whether you should carry on dipping your toes into p2p. Seems like its just not worth the hassle anymore to me Why don't you be a bit optimistic. We should get our money back on this + interest, the borrowers claims are nonsense. The optimism has been beaten out of me. Totally agree this is a total nonsense and if i do get my 3K back i will treat you to a few pints and a ploughmans 
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Post by patright on Oct 27, 2018 8:44:50 GMT
well personally I am not holding my breath on any recovery at this point, or at a loss for sure
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peteuk
Member of DD Central
Posts: 120 
Likes: 100
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Post by peteuk on Oct 27, 2018 8:54:29 GMT
Can comeone tell me when this email was sent , because i might have cleared it inadvertently from my spam , and roughly what was said
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peteuk
Member of DD Central
Posts: 120
Likes: 100
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Post by peteuk on Oct 27, 2018 10:14:00 GMT
Sorry meant to say also if someone could pm me please , check my history I'm not a spy
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Village Idiot
Member of DD Central
This poster will self destruct after 3000 posts....
Posts: 2,779
Likes: 2,820
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Post by Village Idiot on Oct 27, 2018 10:21:21 GMT
Sorry meant to say also if someone could pm me please , check my history I'm not a spy Hmmm, you could be a long term sleeper that has been activated. I'm guessing you are talking about the letter from the solicitor?
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Post by andygod1 on Oct 27, 2018 10:41:31 GMT
I have just over £11 in this loan, and I have not received an email from the solicitor, and i deduce that is because they have not yet sent me any mail.
there is nothing yet for me to reply to.
i read the Lendy page on the situation and there are a lot of ‘ questions’ and ‘answers’ given to help investors understand the situation.
My advice to the plaintif is to stop this futile action, and dont make the foolish action to pursue me for £11.
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Post by df on Oct 27, 2018 11:02:23 GMT
I have just over £11 in this loan, and I have not received an email from the solicitor, and i deduce that is because they have not yet sent me any mail. there is nothing yet for me to reply to. i read the Lendy page on the situation and there are a lot of ‘ questions’ and ‘answers’ given to help investors understand the situation. My advice to the plaintif is to stop this futile action, and dont make the foolish action to pursue me for £11. I have £110 and didn't get an e-mail. Presumably they are not interested in small investors - it would be very time consuming to deal with 3757 individuals???
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SteveT
Member of DD Central
Posts: 6,857
Likes: 7,892
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Post by SteveT on Oct 27, 2018 11:29:43 GMT
I have just over £11 in this loan, and I have not received an email from the solicitor, and i deduce that is because they have not yet sent me any mail. there is nothing yet for me to reply to. i read the Lendy page on the situation and there are a lot of ‘ questions’ and ‘answers’ given to help investors understand the situation. My advice to the plaintif is to stop this futile action, and dont make the foolish action to pursue me for £11. I have £110 and didn't get an e-mail. Presumably they are not interested in small investors - it would be very time consuming to deal with 3757 individuals??? AFAIK, there's been nothing yet to suggest the borrower knows how much each lender had lent, only their contact details (court ordered) In any case, the ludicrous claim is that every lender is liable for the whole lot (ie. joint and several liability) 
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Post by GSV3MIaC on Oct 27, 2018 12:51:27 GMT
I am in this loan for a few grand. I have resigned myself to the fact that this has gone along with the other thousands i have lost over at moneything. Holding my breath on Collateral. This whole scenario is complete fantasy. Dont let it even enter your head fellas. I know that easy to say but the absolute logical outcome from this is nothing at all. Can you imagine the implications around the world if they pulled it off. It does give you pause for thought as to whether you should carry on dipping your toes into p2p. Seems like its just not worth the hassle anymore to me Why don't you be a bit optimistic. We should get our money back on this + interest, the borrowers claims are nonsense.
I wish I believed that the borrower was not likely to join the bulk of their assets in the BVI, leaving us (at best) with another property to sell which is not going to come close to recovering the amount of the loan(s) (the advanced funds NOT having been invested into the property).
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jeremy12
Member of DD Central
Everything's frozen
Posts: 83
Likes: 38
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Post by jeremy12 on Oct 27, 2018 13:26:46 GMT
The continuing publicity about this has dealt a fatal blow to lendy. The reputational damage is irreversible. No one will invest with Lendy if they do any research whatsoever. The other borrowers smell blood and will start monkeying around. The regulator will scrutinise to the Nth degree to show their worth. The media will have a field day. Lenders will start piling up complaints directly and via FCA and FOS. The specific borrower in this matter can just twiddle their thumbs now waiting for the collapse expecting a get out of loan free agreement sometime soon. Lenders will ultimately get some capital back and some interest. That's it!!
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jeremy12
Member of DD Central
Everything's frozen
Posts: 83
Likes: 38
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Post by jeremy12 on Oct 27, 2018 13:44:55 GMT
Lenders will ultimately get some capital back and some interest. That's it!! Assuming the legal action desists that implies a 100% cap recovery to get any interest. iirc, the loan was made at a value the borrower had not been able to sell at for the previous year or two. Not sure a distressed sale will do any better. I meant lenders will ultimately get some capital and interest from their whole loan book. For this loan I think it will negotiate to the point the borrower walks free.
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peteuk
Member of DD Central
Posts: 120
Likes: 100
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Post by peteuk on Oct 27, 2018 14:05:41 GMT
Question? This email who was it from lendy or the otherside
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paul123
Member of DD Central
Posts: 1,483
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Post by paul123 on Oct 27, 2018 15:14:13 GMT
There’s been one email from lendy. An update on lendy.co.uk at the link on that email. If you contact lendy/our lawyer you may get a holding email. There’s been no email from the other side yet.
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