sl75
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Post by sl75 on Dec 5, 2018 14:27:40 GMT
I've got mine - all 27p of it on a portfolio of £7k. 8 loans - 6 defaulted, 1 suspended and 1 active. Happy Christmas Lendy Basically, the administration of the loans by L has left the lenders partly or wholly financing loans interest-free. Therefore someone is profiting, as someone always does, and in this case, it is not the Lenders, so is it L or the borrowers?? Interest on loans in "Interest Accruing" status or worse is not paid in the monthly run, but at the point loan is finally repaid (or a formal extension agreed where the borrower pays all the overdue interest as part of the requirements for the extension).
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Mucho P2P
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Post by Mucho P2P on Dec 5, 2018 16:13:50 GMT
Basically, the administration of the loans by L has left the lenders partly or wholly financing loans interest-free. Therefore someone is profiting, as someone always does, and in this case, it is not the Lenders, so is it L or the borrowers?? Interest on loans in "Interest Accruing" status or worse is not paid in the monthly run, but at the point loan is finally repaid (or a formal extension agreed where the borrower pays all the overdue interest as part of the requirements for the extension). I know that is the "theory" and even the stated aims of L, but what is stated as a future promised action is to be seen if it becomes reality in the future. Becoming reality rests on L staying in business and pursuing the debtors and PG's to recoup those full amounts owing to the lenders. If not achieved, then someone else has profited.
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sl75
Posts: 2,092
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Post by sl75 on Dec 5, 2018 17:13:47 GMT
I know that is the "theory" and even the stated aims of L, but what is stated as a future promised action is to be seen if it becomes reality in the future. Becoming reality rests on L staying in business and pursuing the debtors and PG's to recoup those full amounts owing to the lenders. If not achieved, then someone else has profited. Not only is it the "theory", it is what has already happened for every loan that has been recovered with interest to date.
If you weren't directly involved at the time, you can find those loans under the "repaid" tab with a negative number of days remaining and/or positive "bonus accrual" figure.
There appear to be a number of contributors to this forum who are keen to see Lendy fail and "someone else" profit. I cannot comment on the true allegiences of those contributors, nor which specific "someone else" they are hoping will profit.
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Mucho P2P
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Post by Mucho P2P on Dec 5, 2018 17:28:03 GMT
I know that is the "theory" and even the stated aims of L, but what is stated as a future promised action is to be seen if it becomes reality in the future. Becoming reality rests on L staying in business and pursuing the debtors and PG's to recoup those full amounts owing to the lenders. If not achieved, then someone else has profited. Not only is it the "theory", it is what has already happened for every loan that has been recovered with interest to date.
If you weren't directly involved at the time, you can find those loans under the "repaid" tab with a negative number of days remaining and/or positive "bonus accrual" figure.
There appear to be a number of contributors to this forum who are keen to see Lendy fail and "someone else" profit. I cannot comment on the true allegiences of those contributors, nor which specific "someone else" they are hoping will profit.
Past performance is no indication of future performance - I am sure everyone on this forum has read that before. Regarding L failing, I am definitely not one of them with the capital I have still invested through them.
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Post by banffy on Dec 6, 2018 0:15:09 GMT
Ooooooh Xmas is nearly here 16p interest from over 11k not bad eh?  |
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registerme
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Post by registerme on Dec 6, 2018 8:39:51 GMT
Must admit that I don't pay a lot of attention to Lendy anymore, that having been said one of the two loans I have left on the platform is under the old Ts & Cs, where I lent to Lendy itself. And it hasn't paid interest for November. Should I expect it to?
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tesim71
New Member
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Post by tesim71 on Dec 6, 2018 9:10:25 GMT
I guess I am the unluckiest here : balance of 65k and...and ZERO interest
I am really worried now. Any advise?
Shall I write a feedback on TrustPilot?
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Mucho P2P
Member of DD Central
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Post by Mucho P2P on Dec 6, 2018 9:46:07 GMT
I guess I am the unluckiest here : balance of 65k and...and ZERO interest I am really worried now. Any advise? Shall I write a feedback on TrustPilot? I would not classify it as "unluckiest", more like lack of experience in a market that turned fast. Just like with Northern Rock in 2008, it was not whether the people were lucky or not, just that the market turned fast and the bank managers had made bad decisions leading the depositors funds being in a precarious situation. Your 65k that is non-performing. Advice cannot be readily given as it depends on which loans you are holding. My understanding is that Lendy still has capital in the form of their provision fund, and more from last years filed accounts. As long as they have capital, there is the chance that some, if not all, your loans will at least partly filter through to payment. Lendy has some [overdue] loans that are scheduled for payment in the next few weeks, maybe yours are some of those?
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GeorgeT
Member of DD Central
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Post by GeorgeT on Dec 6, 2018 10:35:31 GMT
Must admit that I don't pay a lot of attention to Lendy anymore, that having been said one of the two loans I have left on the platform is under the old Ts & Cs, where I lent to Lendy itself. And it hasn't paid interest for November. Should I expect it to? I also do not pay much attention to Lendy now because I also only have 2 loans* remaining and both are on the old terms and conditions where I lent my money to Lendy. I have received no interest on either for at least a year so I think it is 'correct' you have received no interest. I read something in the terms and conditions that I had agreed to along the lines that Lendy are not liable to repay my money until they have been repaid by the borrower they have lent it to. So I have basically just written off the money (mentally) I have left in Lendy and fortunately it is only a very small proportion of the total interest I gained over the 4 years when I was active on the platform. It is sad that in 5 years LY has gone from healthy dynamic top dog on the block to a wounded animal seemingly dying a slow painful death. * I do have a little unrecovered fortified house monies but that's not coming back so I don't count that as an outstanding loan.
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Post by df on Dec 6, 2018 11:48:47 GMT
Must admit that I don't pay a lot of attention to Lendy anymore, that having been said one of the two loans I have left on the platform is under the old Ts & Cs, where I lent to Lendy itself. And it hasn't paid interest for November. Should I expect it to? I also do not pay much attention to Lendy now because I also only have 2 loans* remaining and both are on the old terms and conditions where I lent my money to Lendy. I have received no interest on either for at least a year so I think it is 'correct' you have received no interest. I read something in the terms and conditions that I had agreed to along the lines that Lendy are not liable to repay my money until they have been repaid by the borrower they have lent it to. So I have basically just written off the money (mentally) I have left in Lendy and fortunately it is only a very small proportion of the total interest I gained over the 4 years when I was active on the platform. It is sad that in 5 years LY has gone from healthy dynamic top dog on the block to a wounded animal seemingly dying a slow painful death. * I do have a little unrecovered fortified house monies but that's not coming back so I don't count that as an outstanding loan. The same here. I don't bother login in unless I get email saying that something has been sold or repaid, but did just now out of curiosity. I've received 41p for one loan I left running because the remaining term was very short and the queue very large. Otherwise none of my remaining loans are performing. Just hope at some point some of my invested capital will be recovered.
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Post by nyquest on Dec 6, 2018 13:09:47 GMT
I guess I am the unluckiest here : balance of 65k and...and ZERO interest I am really worried now. Any advise? Shall I write a feedback on TrustPilot? I feel wealthy. £14 on £68k. Ive £12k in Funding Circle gets me £101 per month.
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Post by Ace on Dec 6, 2018 16:34:02 GMT
If we're showing off, I got a whole £1.00 from £105 invested 😏
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travolta
Member of DD Central
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Post by travolta on Dec 6, 2018 16:49:05 GMT
Why do I feel comforted reading about others burned worse than me : £16000, December interest £10.16. Never mind this may find someone slightly better off and make THEM feel better...
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Mr_N
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Post by Mr_N on Dec 7, 2018 11:02:08 GMT
Why do I feel comforted reading about others burned worse than me : £16000, December interest £10.16. Never mind this may find someone slightly better off and make THEM feel better... When interest repayments go to zero, you can then begin to find some comfort in those who have invested less capital. Happy days!
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nsinvestor
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Post by nsinvestor on Dec 7, 2018 16:04:47 GMT
Why do I feel comforted reading about others burned worse than me : £16000, December interest £10.16. Never mind this may find someone slightly better off and make THEM feel better... 33p on my last £16k left in Lendy
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