|
|
Post by bracknellboy on Jan 14, 2019 21:14:21 GMT
Yes indeed, history is very instructive here, as the ones who stuck with Captain Bligh in the lifeboat eventually all got home, “3600 nautical miles to safety in 41 days using only a sextant and a pocket watch.” This may be a most accurate allegory of waiting it out for the Lendy recovery process to complete. Except add a 0 or more to the number of days. Perhaps this could be re-enacted during Cowes Week? 1 problem with that is that a circumnavigation of the IoW brings you back to where you started.
|
|
|
|
Post by Badly Drawn Stickman on Jan 14, 2019 21:18:00 GMT
Peep! That's a yellow. Lack of positivity in that challenge, sarahcount . We are all well aware of the issues you raise here and they are explored ad infinitum in all the other threads on this board. Straight red for me please. No need for VAR, I would have gone over the top with studs showing.
|
|
jhma
Member of DD Central
Posts: 82 
Likes: 53
|
Post by jhma on Jan 14, 2019 21:31:14 GMT
I would like to congratulate all the posters in this thread so far, for honouring the spirit of the title. I would also add that I do think there is value in some of the loans still live and available on the SM. These are mainly partially de-risked projects as they have had substantial work completed. I think this thread should adopt a yellow and red card system to penalise any future poster who may seek to sully the optimistic atmosphere. Go Lendy! Defeat the forces of evil and their ludicrous court cases! Improve your lender communication! Get me my money back! I still have residual love for you. I won't be accused of being a shill or whatever and I'm just as p**sed off with Lendy generally as the next person for the same reasons BUT to be fair I have to say they have responded fairly well and quickly to my questions via the web regarding the London Loan. Looks to me as if they have had a rocket put up them. Almost instant responses in some cases. So, the first point of call with a request for info should be web support. Lendy will realise their responsibilities if 20% of their lender base is engaging with them asking sensible questions and making reasoned requests for information rather than just posting abuse via the forum Same goes for HCR who provided me with some sensible comment well before they went public to all concerned lenders. And, no, I am afraid I won't discuss further on a fully open forum!
|
|
bugs4me
Member of DD Central
Posts: 1,845
Likes: 1,478
|
Post by bugs4me on Jan 14, 2019 22:17:40 GMT
I feel there's too much negativity towards Lendy in almost every thread. Sometimes I contribute to that too. However, I fear a few things, three of which are: 1. I fear that this skews the image of true circumstances. When everything is taken account of, things may or may not be as bad as this forum portrays. 2. A new investor or existing investor will find it very difficult, if not impossible, searching for things that are right or going right. 3. I also fear that there is a possibility of manipulation, such as some borrowers trying to fulfill their own agenda. Perhaps that, to sink Lendy for their own benefit at the expense of investors. In a way they try to stiffle any positivity towards Lendy. This could very well be just a conspiracy theory, but there's a possibility this is true. So what I'm proposing is a thread to discuss more positively on things that are going or seems to be turning RIGHT with Lendy. I would even like Lendy (staff) to contribute here, a chance to engage with us, tell us what you've learnt and how you are/will address the lessons learnt. I agree there is a great deal of negativity towards Lendy but to cut to the chase they have brought it upon themselves. So folks who may feel justifiably let down by the platform, for whatever reason, then feel justified in venting their frustrations on this forum.
Will venting do any good? - personally, I doubt it. The Lendy management are firmly in a bubble.
'.... I would even like Lendy (staff) to contribute here, a chance to engage with us, tell us what you've learnt and how you are/will address the lessons learnt....' (my bold)
Over time for as long as I can remember, there has been the odd Lendy staff member posting, promising to turn over a new leaf, etc, etc. They haven't had a long shelf life then everything goes back to normal. And please can we start by stopping the nonsense that no lender has ever lost a penny. Just how long do they need to carry on with the charade about still chasing the borrower even though there's zero chance in any reasonable lenders mind of any further returns.
The recent supposed webinar - well let's just say that it was the first one I've attended online where there was zero 'audience' participation. But I have attended plenty of Powerpoint presentations in my time!!
So to reduce the negativity is firmly in the hands of the Lendy management team. There have been far too many false starts in this area.
I have no wish to see any company fail. Apart from investors suffering there's also going to be a number of staff affected as well. But I'm also minded as to where the buck stops and it's not with the lender's.
|
|
|
|
Post by loftankerman on Jan 14, 2019 22:59:31 GMT
Yes indeed, history is very instructive here, as the ones who stuck with Captain Bligh in the lifeboat eventually all got home, “3600 nautical miles to safety in 41 days using only a sextant and a pocket watch.” This may be a most accurate allegory of waiting it out for the Lendy recovery process to complete. Except add a 0 or more to the number of days. Perhaps this could be re-enacted during Cowes Week? 1 problem with that is that a circumnavigation of the IoW brings you back to where you started. For that matter, correctly implemented circumnavigation of anything should by definition do the same thing. The benefit of doing it to the I.O.W however is that it saves a lot more time than tackling something challenging. So forget recoveries, boat trips it is.
|
|
|
|
Post by p2plender on Jan 15, 2019 0:43:18 GMT
I've nothing positive to say about Lendy and to me this is like an AA meeting having a chat about their favourite tipple so I'll happily take a straight red.
Good luck with the positive vibes.
|
|
|
|
Post by martin44 on Jan 15, 2019 1:05:02 GMT
I've nothing positive to say about Lendy and to me this is like an AA meeting having a chat about their favourite tipple so I'll happily take a straight red. Good luck with the positive vibes. But.. But.. No one has ever lost any money with lendy.......
|
|
|
|
Post by charliebrown on Jan 15, 2019 9:17:06 GMT
Straight red card for me.
|
|
averageguy
Member of DD Central
Posts: 1,188
Likes: 895
|
Post by averageguy on Jan 15, 2019 9:21:20 GMT
Straight red card for me. Having consulted VAR ..yep its a red
|
|
|
|
Post by charliebrown on Jan 15, 2019 9:38:01 GMT
Ah, I’ve got one. They discontinued “Investor Round-up”, that was a positive.
Sorry to be facetious. My stance on this is they’ve promised a lot of improvements and I’ll be the first one back to this thread to pat them on the back when they action their promises.
|
|
jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,808
Likes: 3,242
|
Post by jonno on Jan 15, 2019 10:48:35 GMT
Ok...here goes...........I'm 100%, totally, absolutely, irrefutably, POSITIVE, that Lendy is totally, absolutely, irrefutably SH*TE. 
Right, I'm off.
|
|
bloodycat
Member of DD Central
Posts: 184
Likes: 84
|
Post by bloodycat on Jan 15, 2019 12:25:14 GMT
They have had some progress, just not as fast as most of us would wish.
Unfortunately the lack of anything much on the SM is more down to most of them being suspended.
Supposedly new business is being directed to Lendy Wealth as they cant fill them with us. Rather short sighted as many of us have pointed out, the reason they cant fill the umpteenth tranch of the existing DFLs is because most already have more than enough exposure to them. Give us something new and if it looks ok we might invest.
Currently ~10% of my money in Lendy is uninvested. If they don't give us something worth investing in soon I will simply withdraw it, I certainly won't be reducing my diversifcation by putting more into the current loans.
I'm sure they would prefer it if we all just stuck our money into the black box of Lendy wealth to save having to answer awakward questions about their due diligence etc. Personally I wouldn't even consider investing in Lendy wealth until I have seen evidence of their improved loan quality and more progress on recovering the outstanding crop of 'non-performing' loans.
|
|
|
|
Post by nyquest on Jan 15, 2019 13:22:09 GMT
For example, the amount of loans in the Secondary Market has dried up. I do realise that Lendy hasn't been taking on a lot of new loans but at the same time, a lot of us have claimed we have been taking money out of Lendy. So being able to achieve that is a 'plus', I believe, because this returns liquidity in the Secondary Market to some extent. The five things that I fancied from Lendy, in order of priority, were: 1. Never lose capital / Good Realistic Valuation / Good Recovery Process 2. Very High Liquidity in Secondary Market (sells quickly) 3. Communication Communication Communication 4. No loans less than 12% (bad precedent for negotiations) 5. Availability of loans in Primary and Secondary Market. I believe that there are efforts being put in by Lendy in a few of these, don't you think? No.3 ...... If Lendy held a professional seller account on Amazon they would be struck off after 12 unanswered enquires, no tap dancing, no excuses, account suspended , you have 48 hours to reply to customers...my customer base is 37588, every day we have at least 80 different sales enquires or delivery queries. No matter how stupid the question or how angry or abusive, all require an answer in under 48 hours. There is no way they can commit to communicating to a satisfactory degree without a dedicated department. It just won't happen, they can't even appear in person on camera which told me all I needed to know. No PR or customer care skills at all.
|
|
jane
Posts: 145
Likes: 214
|
Post by jane on Jan 15, 2019 13:41:36 GMT
There's a bright golden haze on the meadow
The corn is as high as an elephant's eye
And it looks like it's climbing clear up to the sky
Oh, what a beautiful mornin'
Oh, what a beautiful day
I've got a beautiful feeling
Everything's going Lendys way
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
|
Post by ozboy on Jan 15, 2019 13:46:51 GMT
For example, the amount of loans in the Secondary Market has dried up. I do realise that Lendy hasn't been taking on a lot of new loans but at the same time, a lot of us have claimed we have been taking money out of Lendy. So being able to achieve that is a 'plus', I believe, because this returns liquidity in the Secondary Market to some extent. The five things that I fancied from Lendy, in order of priority, were: 1. Never lose capital / Good Realistic Valuation / Good Recovery Process 2. Very High Liquidity in Secondary Market (sells quickly) 3. Communication Communication Communication 4. No loans less than 12% (bad precedent for negotiations) 5. Availability of loans in Primary and Secondary Market. I believe that there are efforts being put in by Lendy in a few of these, don't you think? No.3 ...... If Lendy held a professional seller account on Amazon they would be struck off after 12 unanswered enquires, no tap dancing, no excuses, account suspended , you have 48 hours to reply to customers...my customer base is 37588, every day we have at least 80 different sales enquires or delivery queries. No matter how stupid the question or how angry or abusive, all require an answer in under 48 hours. There is no way they can commit to communicating to a satisfactory degree without a dedicated department. It just won't happen, they can't even appear in person on camera which told me all I needed to know. No PR or customer care skills at all. They don't need 'em, they've got your money!
|
|
