boundah
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Post by boundah on Mar 12, 2019 17:52:04 GMT
Full FT article for those who can't reach it:
<removed by mod for breach of FT copyright (and forum rules)>
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Post by df on Mar 12, 2019 21:36:57 GMT
Over on Bondmason, they're confirming that they have no loans with Lendy (or FC for that matter). Prompted by the FCA announcement maybe? We knew this long time ago, but I think it was appropriate to reiterate (to reassure investors that Col was the only one out of the lot).
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GeorgeT
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Post by GeorgeT on Mar 12, 2019 23:26:00 GMT
It's not good enough that Lendy is on the FCA watch list, they should have been struck off.
Many weeks ago I made an official complaint to lendy about a personal matter and I got an initial acknowledgement informing me of the rules and regulations in that they had to respond within 8 weeks under the FCA rules but the 8 weeks has long since passed and I have heard not a jot. it would appear that they are not even bothering to comply with legal compliance rules and regulations any longer.
I have escalated my complaint to the financial ombudsman service and am awaiting a response from them as to why lendy are not dealing with complaints within 8 weeks. I wonder if there are even any staff left to deal with complaints and customers.
Unfortunately it very much feels to me as though these are the dying days of Lendy and the lights could go out any day soon.
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Post by poptart on Mar 12, 2019 23:33:42 GMT
I might walk past sometime and see if (a) the lights are still on and (b) the expensive cars are still in the drive at Lendy Mansion.
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Monetus
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Post by Monetus on Mar 13, 2019 12:57:32 GMT
It's not good enough that Lendy is on the FCA watch list, they should have been struck off. Many weeks ago I made an official complaint to lendy about a personal matter and I got an initial acknowledgement informing me of the rules and regulations in that they had to respond within 8 weeks under the FCA rules but the 8 weeks has long since passed and I have heard not a jot. it would appear that they are not even bothering to comply with legal compliance rules and regulations any longer. I have escalated my complaint to the financial ombudsman service and am awaiting a response from them as to why lendy are not dealing with complaints within 8 weeks. I wonder if there are even any staff left to deal with complaints and customers. Unfortunately it very much feels to me as though these are the dying days of Lendy and the lights could go out any day soon. I also put an official complaint in at the beginning of January and it's the same story here. The eight weeks have now passed and I've not had a final response despite me chasing.
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GeorgeT
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Post by GeorgeT on Mar 13, 2019 20:34:22 GMT
Monetus - timing is quite similar to my own. Just checked and mine was at the beginning of January also. I got an almost immediate acknowledgement and then I got a holding letter at the start of Feb promising me a response within the 8 week deadline. But that was it. I chased also but still no response to my complaint.
I don't know what's going at LY HQ but it doesn't feel good to me. This is a basic compliance matter and is all set out in the FCA rulebook for authorised firms. LY are no longer complying.
I would have thought with the FCA already on their backs, LY must be in danger of being stripped of their accreditation and forced out of business - if they are still in it.
Perhaps the boss no longer cares.
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Post by p2plender on Mar 14, 2019 0:12:18 GMT
His jobs done. Nice big country pile, well done Lendy investors   
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Post by charliebrown on Mar 16, 2019 16:53:02 GMT
Perhaps the boss no longer cares. Did he ever care?
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Mucho P2P
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Post by Mucho P2P on Mar 16, 2019 17:06:53 GMT
Perhaps the boss no longer cares. Did he ever care? What is of concern are the number of jobs he has listed on his LinkedIn profile, and the vast majority of them lasted circa 1 year! Was he fired frequently, or just moved on frequently? I do not hire people with such a turnover of employment, as either they move on for their own reasons, or are no good, and hence are asked to leave. Both I do not wish to have working for me.
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Mousey
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Post by Mousey on Mar 16, 2019 18:31:01 GMT
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Mucho P2P
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Post by Mucho P2P on Mar 16, 2019 18:37:09 GMT
Hey Mousey, is that a REAL quote for LB !?!? There is a difference in the meaning of being very good at recovery if allowed a 10-year time frame, or a 2-year time frame. Which time frame is LB referring to? The proof is in the pudding I presume. However, with the staff turnover at Lendy HQ, clearly, some areas are not up to scratch!
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Mousey
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Post by Mousey on Mar 16, 2019 18:40:54 GMT
Hey Mousey, is that a REAL quote for LB !?!? There is a difference in the meaning of being very good at recovery if allowed a 10-year time frame, or a 2-year time frame. Which time frame is LB referring to? The proof is in the pudding I presume. However, with the staff turnover at Lendy HQ, clearly, some areas are not up to scratch! That's a REAL quote and if you follow the link you'll see the video proof. Quite an interesting interview from 2017, presumably in the background quite a few loans had already gone sour.
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Mucho P2P
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Post by Mucho P2P on Mar 16, 2019 19:08:33 GMT
Hey Mousey, is that a REAL quote for LB !?!? There is a difference in the meaning of being very good at recovery if allowed a 10-year time frame, or a 2-year time frame. Which time frame is LB referring to? The proof is in the pudding I presume. However, with the staff turnover at Lendy HQ, clearly, some areas are not up to scratch! That's a REAL quote and if you follow the link you'll see the video proof. Quite an interesting interview from 2017, presumably in the background quite a few loans had already gone sour. Just seen it !!! Hot air syndrome? Besides, who isn't good at recovery in a decent market? Maybe it should be reworded, "we were very very good at recovering loans........"! How times change......
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pom
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Post by pom on Mar 16, 2019 19:31:26 GMT
That's a REAL quote and if you follow the link you'll see the video proof. Quite an interesting interview from 2017, presumably in the background quite a few loans had already gone sour. Just seen it !!! Hot air syndrome? Besides, who isn't good at recovery in a decent market? Maybe it should be reworded, "we were very very good at recovering loans........"! How times change...... 2017? Suspect they'd only recovered the garden centre at that point...one swallow does not make a summer
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 16, 2019 19:35:11 GMT
Just seen it !!! Hot air syndrome? Besides, who isn't good at recovery in a decent market? Maybe it should be reworded, "we were very very good at recovering loans........"! How times change...... 2017? Suspect they'd only recovered the garden centre at that point...one swallow does not make a summer And PBL007 care home & a boat.
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