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Post by roberti on May 10, 2019 12:51:25 GMT
Tired of Lendy's excuses and meaningless updates..... have contacted this firm also......
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agent69
Member of DD Central
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Post by agent69 on May 10, 2019 15:15:09 GMT
Having read the link it sound just like the blurb you get from the PPI type leeches.
On what basis are people recomending this company as reputable and competent?
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tombraider
Member of DD Central
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Post by tombraider on May 10, 2019 15:39:35 GMT
It’s a nice idea but..... the issue is does Lendy actually have any money or does this catapult us into collateral mark 2. Sad as it seems an FCA wind down is preferable to administration.
No win no fee great until the win results in just enough to cover their fees.
I think it’s early to jump onto this particularly now the FCA are involved.... but I wouldn’t rule it out later
Is this firm another bunch of ambulance chasers?
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Carter
Member of DD Central
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Post by Carter on May 10, 2019 16:20:01 GMT
Lots of reviews about this firm online for those inclined to consider such a proposal. Although who believes what they read online.
Being of a deeply suspicious nature I have reservations myself. Clearly there are a group of people driving this option who consider this to be their best chance of recovering their funds. How this plays out for the entire lender base is unknown but there must be considerable potential for a negative impact to lenders as a whole.
I presume people who think this is a good option for them have large sums locked in old loans.
Everyone must do what they think is best for themselves of course. But please do think very carefully and preferably logically.
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invester
P2P Blogger
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Post by invester on May 10, 2019 16:46:06 GMT
My worry is the fees. Not enough people and you end up losing a big chunk of whatever is recovered.
So, if possible it would be good to see how many other people are involved. If it speaks for a big chunk of lenders then why not?
Fast coming to the conclusion that going down this route would be better than waiting around for the inevitable.
I blame Brooke, who seems to have arsed around since the start of the year appointing people who then don't want anything to do with him a month later.
Really he should have stepped aside and brought in a CEO who would do what they say, and front up to investors. He's done none of this. Seem to remember the mass e-mail acknowledging bad comms and promising to do something about it.
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tombraider
Member of DD Central
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Post by tombraider on May 10, 2019 18:00:41 GMT
Time for a poll?
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Jeepers
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Post by Jeepers on May 10, 2019 19:01:09 GMT
but of course they won’t answer any of these questions Wont they? Have you asked?
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jfh82
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Post by jfh82 on May 10, 2019 19:02:17 GMT
I like the idea of this, but suspect a successful result is simply going to force Lendy into administration earlier than they otherwise would - which undermines what we are trying to achieve. Consider that there is already a charge on the compensation fund, and I very much doubt Lendy has other value that could be realised we're going to end up shooting ourselves in the foot surely?
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jfh82
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Post by jfh82 on May 10, 2019 19:09:52 GMT
Well I did just try and register my details with them through their portal, just to understand what exactly there proposal is - but I can't as they insist on taking a phone number - that aint happening.
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jane
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Post by jane on May 10, 2019 19:11:22 GMT
I like the idea of this, but suspect a successful result is simply going to force Lendy into administration earlier than they otherwise would - which undermines what we are trying to achieve. Consider that there is already a charge on the compensation fund, and I very much doubt Lendy has other value that could be realised we're going to end up shooting ourselves in the foot surely? I think the charge has already been removed (maybe with a bit of prompting from the FCA?). But anyway the provision fund is entirely discretionary so Liam could probably use it to be himself a new Yacht if he really wanted to.
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Mucho P2P
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Post by Mucho P2P on May 10, 2019 20:13:07 GMT
Well I did just try and register my details with them through their portal, just to understand what exactly there proposal is - but I can't as they insist on taking a phone number - that aint happening. I emailed the partner dealing with the issue directly, no phone number required.
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mikeh
Member of DD Central
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Post by mikeh on May 10, 2019 21:34:52 GMT
I like the idea of this, but suspect a successful result is simply going to force Lendy into administration earlier than they otherwise would - which undermines what we are trying to achieve. Consider that there is already a charge on the compensation fund, and I very much doubt Lendy has other value that could be realised we're going to end up shooting ourselves in the foot surely? I think the charge has already been removed (maybe with a bit of prompting from the FCA?). But anyway the provision fund is entirely discretionary so Liam could probably use it to be himself a new Yacht if he really wanted to. The charge is against Lendy Provision Reserve Ltd in favour of Metro Bank PLC. According to Companies House, it is still outstanding.
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dovap
Member of DD Central
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Post by dovap on May 10, 2019 22:22:22 GMT
rats heading for the life boats first
vile
fca should put this clown-like operation into admin before the ambulance chasers get there
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eddie
i have put up with a great deal from the likes of you people, a very great deal....
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Post by eddie on May 11, 2019 10:06:14 GMT
rats heading for the life boats first vile fca should put this clown-like operation into admin before the ambulance chasers get there I have to agree, if we let lendy run on we should all get something back. If some of us bring other ppl in to take another cut on top of the haircut were all going to have it can only mean less to go round, and once they get their hooks in maybe all of it. Worse case negative. Best to let it run on, thats free, we will see something back like that. I still have 25000 plus of my pension in, and i dont want a penny of it to go to another layer of bureaucracy.
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Post by brightspark on May 11, 2019 16:19:54 GMT
I have (only) £1K within Lendy so will just have to go whichever way the wind blows. However were I to have considerably more than that at serious risk - say £50K plus - if things drag on I would (feel obliged to) seek legal advice. This is the only option open other than leaving matters in the hand of Lendy and the FCA. Deriding opportunity seeking law firms as simply ambulance chasers etc is not constructive. It certainly could do no harm to have a preliminary discussion. At the end of the day whoever pays the piper calls the tune. This would be a slice of investments which could well be lost anyway.
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