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Post by p2plender on Dec 9, 2018 1:41:03 GMT
A humbling apology followed by a whole new bunch of spoof TP reviews. Couldn't make it up how low Lendy can get.
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Post by loftankerman on Dec 9, 2018 11:39:09 GMT
A humbling apology followed by a whole new bunch of spoof TP reviews. Couldn't make it up how low Lendy can get. Currently, outstanding spoof TP reviews are poking fun at Lendy and make an amusing interlude if one keeps a regular eye on the Lendy TP pages. They make an excellent foil for the underhand stuff purporting to be genuine approval.
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Post by Deleted on Dec 9, 2018 13:41:25 GMT
The humour on the TP page is getting pretty good now,especially the names of participents. I see you "Crumplehorn"
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Mucho P2P
Member of DD Central
Posts: 946
Likes: 1,635
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Post by Mucho P2P on Dec 9, 2018 19:54:29 GMT
I'd like to think you're right. But 'investing wisely' is easy in hindsight. No matter how much DD we did, and how wide we spread the risk, too many LY loans have gone into what most P2P lenders would call default. By the time we (or I at least) realised there was a problem, it was too late to get out. As it stands I'm ahead after interest across all P2P platforms, but a good 20% underwater with Lendy as I'm stuck with loans years overdue. If they pay back, great - I'll take back all my moaning. You are correct not a good situation but Lendy allows you to put any amount into a loan so if you had £100 and put 50p in 200 loans that had 2 year term at 12% by time 2years were up you would have About £25 interest compounded at that point if 20% did not pay on the day and you counted them a 100% loss you would loose £10 so still up 7.5% pa . Diversify,Diversify ,Diversify Any losses are tax deductible. Nice calculations, if only Lendy had 200 loans to diversify into and not tranche 1 of xx, which is not really diversification. Nor is lending to the same borrower who has several loans listed with Lendy.
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Mucho P2P
Member of DD Central
Posts: 946
Likes: 1,635
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Post by Mucho P2P on Dec 9, 2018 20:03:46 GMT
I think we should give this a chance. Three updates in three days is good and the tone suggests that Lendy is proposing to turn a corner. The proof will, of course, be in the detail that does or does not come next both on a corporate and individual loan level. I was pleased to see details of the new Board but surprised and disappointed that there no non-execs included. One or perhaps two independent, non-executive directors would surely strengthen the Board. I hope this is to follow in time. Actions speak louder than words. Lets see Lendy, Liam and the new board put some serious capital and know how into recovering the defaulted loans. At the end of the day, it is who is at the helm who calls the shots, buck stops with Liam. Good payback of capital last week with the P******* S***** Loan, but that was not an issue loan. Now lets see Lendy get some of the so called bad debt loans back for the investors..........
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