richox
Member of DD Central
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Post by richox on Mar 31, 2019 0:37:04 GMT
Typical Lendy soft soap. We are working hard (We've outsources everything and you're going to pay) Recoveries are coming soon (Just like the repayments, refinances, sales, JVs etc) It's external factors to blame, not us (Must be right, we're good at what we do) You took on a high risk investment (You've lost your money and you can't do anything about it) Provision fund available when approved by the committee (Committee is made up of Liam and  ?) Business weaknesses are all being addressed (Blah, blah, blah) Maybe better than silence, but what does it really say when you boil it down? |
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Post by p2plender on Mar 31, 2019 6:35:11 GMT
All correct apart from "you lost your money", should read, "we lost your money" (due to plucked from the air valuations amongst other things).
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Mousey
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Post by Mousey on Mar 31, 2019 11:32:59 GMT
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Post by andygod1 on Mar 31, 2019 13:15:30 GMT
I had almost my life savings invested with Lendy £130,000.
i didnt lose hardly a penny, and came away with some 15,000 in interest over a year and a half : heres how.
i took the view that 12 % return was ‘ too good to be true’ , and when something looks to good to be true, ususually it is.
I recognised that the secondary market was key, a faltering of the the success of the secondary market was the key factor in me deciding to take my money and run.
i never let my loans run , at 3 months , i would sell on the secondary market, no matter what the loan. That served me very well , others were advocating use due diligence and hold.
lendy made a mistake when i transferred some money and couldnt find it as i sent two amounts in succession, eventually they found it. I decided all the same to be very very cautious with Lendy.
i hardly lost a penny with Lendy.
to those who lost, i sympathise with you, and hope you get the money back.
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Post by charliebrown on Mar 31, 2019 13:33:22 GMT
I had almost my life savings invested with Lendy £130,000. i didnt lose hardly a penny, and came away with some 15,000 in interest over a year and a half : heres how. i took the view that 12 % return was ‘ too good to be true’ , and when something looks to good to be true, ususually it is. I recognised that the secondary market was key, a faltering of the the success of the secondary market was the key factor in me deciding to take my money and run. i never let my loans run , at 3 months , i would sell on the secondary market, no matter what the loan. That served me very well , others were advocating use due diligence and hold. lendy made a mistake when i transferred some money and couldnt find it as i sent two amounts in succession, eventually they found it. I decided all the same to be very very cautious with Lendy. i hardly lost a penny with Lendy. to those who lost, i sympathise with you, and hope you get the money back. Liam as a broker of dud loans made a fortune. Lenders who played pass the parcel on dud loans will also have made money. Lenders who were looking for a good investment they could hold to maturity (like I did) will lose significant sums. With hindsight that was the whole point, the loans were duds but it didn’t matter. Money was to be made from the platform or from offloading the duds to a “greater fool”. I am convinced the business model was to create a market place for trading dud loans where as long as you were never holding them to term or you were taking platform fees you would make money. Sad to say those who held on are now facing huge loses. Reminds me of that scene in the wolf of Wall Street where they call it the merry go round.
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Post by cashmax on Apr 1, 2019 11:36:38 GMT
I had almost my life savings invested with Lendy £130,000. i didnt lose hardly a penny, and came away with some 15,000 in interest over a year and a half : heres how. i took the view that 12 % return was ‘ too good to be true’ , and when something looks to good to be true, ususually it is. I recognised that the secondary market was key, a faltering of the the success of the secondary market was the key factor in me deciding to take my money and run. i never let my loans run , at 3 months , i would sell on the secondary market, no matter what the loan. That served me very well , others were advocating use due diligence and hold. lendy made a mistake when i transferred some money and couldnt find it as i sent two amounts in succession, eventually they found it. I decided all the same to be very very cautious with Lendy. i hardly lost a penny with Lendy. to those who lost, i sympathise with you, and hope you get the money back. You invested your life savings in Lendy and survived to tell the tail! You got lucky with the timings. Perhaps stick to the national lottery from now on.
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cwah
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Post by cwah on Apr 1, 2019 11:40:26 GMT
I wanted to do the same and escape by selling. But it was too late.
I couldn't get my deposit back to buy my flat in london so failed the purchase.
And still have high 5 figures sum locked in defaulted loan....
And that was almost 2 years ago... My deposit is still locked
😢😢😢😢
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zccax77
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Post by zccax77 on Apr 1, 2019 11:51:57 GMT
Well any monies you have stuck withe Lendy are depreciating by 6%+ PA. Some of us were expecting to receive 12% PA interest, little did we know that we would end up paying Lendy 6%+ on any recoveries of our own money.
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cwah
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Post by cwah on Apr 1, 2019 11:59:04 GMT
Well any monies you have stuck withe Lendy are depreciating by 6%+ PA. Some of us were expecting to receive 12% PA interest, little did we know that we would end up paying Lendy 6%+ on any recoveries of our own money. Why 6%/year?
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Post by chrisuk on Apr 1, 2019 12:24:55 GMT
This reminds me of the early 1990's when I worked for Thames TV. Most of the staff owned shares and when the franchise was up for auction we were assured by our CEO that he was very confident we would keep the franchise and that our jobs were safe and our shares would rocket in value. What we didn't know was that the CEO and the Board of Directors were frantically selling their shares as secretly as possible. A year later Thames lost the franchise, we were all made redundant and our shares were worthless.
I have never believed a word a CEO says since! Sorry Liam.
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cwah
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Post by cwah on Apr 1, 2019 12:29:44 GMT
This reminds me of the early 1990's when I worked for Thames TV. Most of the staff owned shares and when the franchise was up for auction we were assured by our CEO that he was very confident we would keep the franchise and that our jobs were safe and our shares would rocket in value. What we didn't know was that the CEO and the Board of Directors were frantically selling their shares as secretly as possible. A year later Thames lost the franchise, we were all made redundant and our shares were worthless. I have never believed a word a CEO says since! Sorry Liam. Isn't that a fraud case? Surely you'd bring the CEO to court for blatant lying and doing insider trade?
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Post by chrisuk on Apr 1, 2019 12:32:56 GMT
This reminds me of the early 1990's when I worked for Thames TV. Most of the staff owned shares and when the franchise was up for auction we were assured by our CEO that he was very confident we would keep the franchise and that our jobs were safe and our shares would rocket in value. What we didn't know was that the CEO and the Board of Directors were frantically selling their shares as secretly as possible. A year later Thames lost the franchise, we were all made redundant and our shares were worthless. I have never believed a word a CEO says since! Sorry Liam. Isn't that a fraud case? Surely you'd bring the CEO to court for blatant lying and doing insider trade? Sadly, proving it is very difficult.
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cwah
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Post by cwah on Apr 1, 2019 12:44:45 GMT
Isn't that a fraud case? Surely you'd bring the CEO to court for blatant lying and doing insider trade? Sadly, proving it is very difficult. How can it be difficult to prove that all board of directors sold their share before the employees?
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zccax77
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Post by zccax77 on Apr 1, 2019 12:47:10 GMT
When I buy and sell shares, there are some key things I keep an eye on:
• Director sales and purchases
• Results day for company and competitors
• Amount of short seller interest
• Ex-Div dates
And lastly what brokers say, though if they say sell I usually buy.
All of these are easy to track.
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Post by p2plender on Apr 1, 2019 13:53:26 GMT
Nice to see his web untangling..
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