Mucho P2P
Member of DD Central
Posts: 946
Likes: 1,635
|
Post by Mucho P2P on Dec 15, 2018 9:30:04 GMT
Lendy are not doing themselves any favours by suspending all the loans from the same borrower then keeping quite for over 24 hours, just shows how much they care about there investors, What a shambolic investment company . Which other “investment” company would suspend 10s of millions of pounds of investments and then go off for the weekend without a word to all their worried investors. This is perhaps THE worst example of LY’s total disrespect for their lenders. I am not impressed. I expect it’s very bad news and they’re getting their Lawyers to write the update. And every time we think their reputation cannot sink any further, it manages to. This sudden "silence" after a few weeks of trumpeting the "new" Lendy and how it has listened to its customers [lenders] on communication, just goes to show a leopard does not change its spots. If the loans have been suspended for the Lenders, it is safe to presume that Lendy is still using their share of the interest and fees obtained from the loan. We loose, lendy still gets paid.............This will not go on forever......All good things come to an end, take note Lendy. If I did not know better, I would say that Lendy enjoys this power trip over their lenders! Or they would stop it.
|
|
goopy
Member of DD Central
Posts: 307 
Likes: 144
|
Post by goopy on Dec 15, 2018 11:25:31 GMT
Lendy are not doing themselves any favours by suspending all the loans from the same borrower then keeping quite for over 24 hours, just shows how much they care about there investors, What a shambolic investment company They’ve surpassed themselves this time. Which other “investment” company would suspend 10s of millions of pounds of investments and then go off for the weekend without a word to all their worried investors. This is perhaps THE worst example of LY’s total disrespect for their lenders. I am not impressed. I expect it’s very bad news and they’re getting their Lawyers to write the update. Hmm, Collateral?
|
|
|
|
Post by picanto on Dec 15, 2018 12:11:43 GMT
Lendy are not doing themselves any favours by suspending all the loans from the same borrower then keeping quite for over 24 hours, just shows how much they care about there investors, What a shambolic investment company They’ve surpassed themselves this time. Which other “investment” company would suspend 10s of millions of pounds of investments and then go off for the weekend without a word to all their worried investors. This is perhaps THE worst example of LY’s total disrespect for their lenders. I am not impressed. I expect it’s very bad news and they’re getting their Lawyers to write the update. I totally understand the frustration but perhaps there is a legitimate reason why Lendy are keeping quiet at this time. They may be waiting for further information before they are able to inform investors of what exactly is going on. They were quick to tell us when other loans have been suspended in the past and the reasons for doing so; Lendy may not be keeping silent deliberately just to hide bad news.
|
|
|
|
Post by herrbert on Dec 15, 2018 13:22:09 GMT
I had only 2000 pounds in front of me for DFL033 after two months, which would have gone in a matter of minutes after the recent repayment. I'm furious and frightened at the same time. Lendy's lack of communication was OK until the repayments went well or even when I could sell the loans in time. Man, I was so stupid!
|
|
|
|
Post by herrbert on Dec 15, 2018 13:24:05 GMT
On the other hand, isn't it possible that these loans will pay back? There is a hint that they will refinance/ be sold.
|
|
|
|
Post by picanto on Dec 15, 2018 13:35:03 GMT
I totally understand the frustration but perhaps there is a legitimate reason why Lendy are keeping quiet at this time. They may be waiting for further information before they are able to inform investors of what exactly is going on. They were quick to tell us when other loans have been suspended in the past and the reasons for doing so; Lendy may not be keeping silent deliberately just to hide bad news. Legitimate and Lendy in the same sentence. Wow. Wasn't the reason that Lendy started to suspend loans in the first place was they were required to do so if a change in risk profile in order to meet with FCA regulations? I doubt Lendy would suspend loans unless they had legitimate reasons for doing so. And like I said in my previous post, Lendy did communicate with investors in the past regarding loan suspension so I can't understand why this time would be any different if they didn't have a valid reason to keep quiet.
|
|
jomantha
Member of DD Central
Posts: 177 
Likes: 63
|
Post by jomantha on Dec 15, 2018 14:00:30 GMT
An email saying they can't disclose would help. This silence is excusable.
|
|
jomantha
Member of DD Central
Posts: 177
Likes: 63
|
Post by jomantha on Dec 15, 2018 14:04:34 GMT
Inexcusable even
|
|
Mucho P2P
Member of DD Central
Posts: 946
Likes: 1,635
|
Post by Mucho P2P on Dec 15, 2018 15:47:22 GMT
An email saying they can't disclose would help. This silence is excusable. it is most inexcusable considering Lendy had just harped on about being more open and communicative just a few weeks ago!
|
|
jonbvn
Member of DD Central
Posts: 326
Likes: 95
|
Post by jonbvn on Dec 17, 2018 1:36:08 GMT
Is the the straw that broke the camel's back? Certainly feels like it.
|
|
|
|
Post by steve11 on Dec 17, 2018 10:14:10 GMT
At least Lendy is still financially sound! I made some sales and requested a withdrawal of £50k at around 1600 on Fri 14th Dec and the funds duly arrived in my account this morning. Now we just need an update on those loan suspensions today. C'mon Lendy.
|
|
Mucho P2P
Member of DD Central
Posts: 946
Likes: 1,635
|
Post by Mucho P2P on Dec 17, 2018 10:23:03 GMT
At least Lendy is still financially sound! I made some sales and requested a withdrawal of £50k at around 1600 on Fri 14th Dec and the funds duly arrived in my account this morning. Now we just need an update on those loan suspensions today. C'mon Lendy. I concur, I also made two large withdrawals, and have just received the funds from the second requested withdrawal 20 mins ago! Although with this continued silence by Lendy on the newly "suspended loans" I can not help but feel I will hear "brace, brace, brace" any day now.
|
|
rrrupert
Member of DD Central
Posts: 121
Likes: 99
|
Post by rrrupert on Dec 17, 2018 11:19:36 GMT
At least Lendy is still financially sound! I made some sales and requested a withdrawal of £50k at around 1600 on Fri 14th Dec and the funds duly arrived in my account this morning. Now we just need an update on those loan suspensions today. C'mon Lendy. I concur, I also made two large withdrawals, and have just received the funds from the second requested withdrawal 20 mins ago! Although with this continued silence by Lendy on the newly "suspended loans" I can not help but feel I will hear "brace, brace, brace" any day now. These withdrawals are from the client monies account so I dont think it means much regarding the solvency of Lendy. In my past experience there tends to be enough money to meet obligations until there isnt. Then it all ends in the blink of an eye. One key date will be 2nd January 2019 when we find out if IOA on all those loans suspended on the 13th gets paid after the 13th or is just stopped at the 13th.
|
|
Mucho P2P
Member of DD Central
Posts: 946
Likes: 1,635
|
Post by Mucho P2P on Dec 17, 2018 11:37:12 GMT
I concur, I also made two large withdrawals, and have just received the funds from the second requested withdrawal 20 mins ago! Although with this continued silence by Lendy on the newly "suspended loans" I can not help but feel I will hear "brace, brace, brace" any day now. These withdrawals are from the client monies account so I dont think it means much regarding the solvency of Lendy. In my past experience there tends to be enough money to meet obligations until there isnt. Then it all ends in the blink of an eye. One key date will be 2nd January 2019 when we find out if IOA on all those loans suspended on the 13th gets paid after the 13th or is just stopped at the 13th. I realise those client monies are meant to be held in a separate bank account under FCA regs, but from experience with the FX industry (Forex Brokers) getting money out of a [segregated client money account] client account in time of uncertainty is usually the first sign of difficulty.
|
|
|
|
Post by charliebrown on Dec 17, 2018 13:01:58 GMT
The continued silence is wholly unacceptable.
i imagine something catastrophic has happened and since they know there’s no way back they really don’t give a stuff about what we think.
I always felt the very uncharacteristic “we’re sorry, we care, we’re changing” emails were very suspicious and felt like a last ditch attempt to insult our intelligence.
Suspending loans without explanation is a new low and is akin to throwing in the towel.
|
|
