hector
Member of DD Central
Posts: 122 
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Post by hector on Nov 12, 2018 21:58:31 GMT
I have a number of loans with Lendy which have been up for sale for several months with little movement in the que. I understand (but of course do not agree) that whilst in that state I do not receive interest on those loans. If I give up with the slow progress of sale and remove some or all of them from sale, on the next monthly run (if not defaulted by then!) do I get the interest for the entire period the loan(s) were up for sale, or just for that latest month?
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Mr_N
Posts: 222
Likes: 225
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Post by Mr_N on Nov 12, 2018 22:44:23 GMT
I have a number of loans with Lendy which have been up for sale for several months with little movement in the que. I understand (but of course do not agree) that whilst in that state I do not receive interest on those loans. If I give up with the slow progress of sale and remove some or all of them from sale, on the next monthly run (if not defaulted by then!) do I get the interest for the entire period the loan(s) were up for sale, or just for that latest month? You won't accrue any interest while the loan is for sale, and you are not owed any interest once you remove it from sale. However, recently Lendy have begun to refuse paying interest on loans that are neither up for sale, nor crossed into "nonperforming". Essentially Lendy are making it up as they go along now, breaching their own terms and conditions along the way, so all bets are off.
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