Distressed Loan Book

Have a day off for f*cks sakes.

Or Lendy!!

I have removed the poll as requested.

if we are trying to delude ourselves that this will end in anything but high losses now then we are fooling ourselves. The exit of staff, the holding off of updates, the state of the loan book. this is going to be sold at a discount or worse still administration. Sorry if you don't like what I say but I have a lot invested in these platforms and yes 12% represents high risk, but this is not high risk this is virtually gambling with valuations wildly inaccurate votes being ignored and a then to be sued by a borrower.... just ridiculous.

Lenders need to take stock of the current situation. It would seem to me that Lendy are shutting the door on self select loans and will focus on winding that part of the business down. Lenders stuck in those loans will need to sit it out and hope that Lendy will make progress on repayments and recoveries. This is going to take time.

For me lenders should be giving Lendy a strong message that we want to see repayments and we want to see strong recovery action with the protection of lenders capital at the core of their decision making.

For anyone not prepared to sit it out then please contact Lendy directly and tell them you're prepared to drop your trousers, then you can have a conversation about the amount of lube required.