keith
Member of DD Central
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Post by keith on Apr 7, 2019 5:20:25 GMT
Just reading the LY updates. It seems almost every loan is going to get one of these. On the one hand, it suggests that LY are getting serious about recoveries and recovery routes. On the other hand, it is a more cumbersome way to check. I hope they get a better system running than that of the London loan.
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Post by p2plender on Apr 7, 2019 12:09:15 GMT
I've not seen this though I never appear to get updates anyway. Perhaps they don't like me, then again, I don't care much for them.
It sounds like more B/S and spin to appease the naive while they wait (for what will be very little).
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sl75
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Post by sl75 on Apr 7, 2019 15:31:58 GMT
One would hope that these would be easier to locate and access each time there's an update than the single instance that Lendy currently have.
e.g. it could have a button to access it from the main loan page, or even an "investor-only updates" tab on the main loan page.
This would have a similar effect to what AC have recently done by restricting visibility of updates on suspended loans.
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rocky1
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Post by rocky1 on Apr 7, 2019 15:46:46 GMT
why shouldnt every lender know what is happening with these loans and how they are dealing with this mess.no need for private portals,just stick it on the loan updates tab.while they are at it start giving us some breakdowns of where our money is going on these recoveries.probably wont hear sod all till the next round of cr*p at the end of the month.
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sl75
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Post by sl75 on Apr 7, 2019 15:58:39 GMT
why shouldnt every lender know what is happening with these loans and how they are dealing with this mess.no need for private portals,just stick it on the loan updates tab.while they are at it start giving us some breakdowns of where our money is going on these recoveries.probably wont hear sod all till the next round of cr*p at the end of the month. That's effectively equivalent to publishing it in public, waiving legal privilege on all information given, and ensuring that all borrowers are fully aware of any information provided "privately" to lenders.
This certainly wouldn't help the recovery strategy, although I'm not qualified to comment on how much it may or may not damage it.
As I understand it, the point of these portals is to allow information to be shared that cannot or should not be disclosed in public.
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rocky1
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Post by rocky1 on Apr 7, 2019 16:05:50 GMT
same as the london loan then from now on.
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69m
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Post by 69m on Apr 7, 2019 17:29:47 GMT
Let's wait and see. If these Private Portals provide more information than the utterly useless monthly updates, then that'll be a good thing.
They also need to show a full breakdown of how capital returned to lenders differs from amounts recovered from borrowers (including professional charges, fees retained by Lendy etc). Wishful thinking, perhaps.
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Post by loftankerman on Apr 7, 2019 18:11:57 GMT
It seems to me that if everyone active on the forum and other non participating readers had a sight of everything that Lendy chose to to display, there could be even greater anti Lendy animosity. Some participants might suggest that effort was being put into the 'low hanging fruit' rather than the more challenging stuff where most of the perceived skulduggery and missing millions lurked. Partitioning it off in this way might mean less of an adverse reaction to good news for some and give less insight into their effectiveness across the full spectrum of their previous poor choices. They'll presumably want to hold children or pets as hostages on pain of death should anyone divulge portal content.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Apr 8, 2019 0:44:56 GMT
It seems to me that if everyone active on the forum and other non participating readers had a sight of everything that Lendy chose to to display, there could be even greater anti Lendy animosity. Some participants might suggest that effort was being put into the 'low hanging fruit' rather than the more challenging stuff where most of the perceived skulduggery and missing millions lurked. Partitioning it off in this way might mean less of an adverse reaction to good news for some and give less insight into their effectiveness across the full spectrum of their previous poor choices. They'll presumably want to hold children or pets as hostages on pain of death should anyone divulge portal content. Those with portal access would be less likely to be negative as they would have something to loose if they affected recoveries.
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revvy
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Post by revvy on Apr 8, 2019 6:09:16 GMT
I think the idea is also based upon the presumption that borrowers don’t get to find out out what Lendy are doing or intend to do during the recovery process - now some borrowers surely must have long since decided to become a small lender in their own loans and will still see what is happening and I can’t believe that Lendy will release anything particularly important in these private portals but lets cross our fingers and hope we find out more of what is going on than the usual monthly updates.
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sl75
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Post by sl75 on Apr 8, 2019 7:15:34 GMT
I think the idea is also based upon the presumption that borrowers don’t get to find out out what Lendy are doing or intend to do during the recovery process - now some borrowers surely must have long since decided to become a small lender in their own loans and will still see what is happening and I can’t believe that Lendy will release anything particularly important in these private portals but lets cross our fingers and hope we find out more of what is going on than the usual monthly updates. I would hope that all platforms would assume that information given to "lenders" won't be secret from "borrowers" (but in case anything that may potentially need to be kept secret does leak out, *we* should assume that the borrower has NOT infiltrated the primary information source, and keep our own mouths shut especially in public!)
However, I imagine (and those more well-versed in how the various legal processes work can either confirm or refute) that there's a whole world of difference between information the borrower comes across by subterfuge (e.g. "spying" on what were supposed to be protected private conversations between other parties) and information easily found by publicly available sources, when it comes to wanting to rely on, or even refer to that information in court or in a formal mediation process or similar.
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rocky1
Member of DD Central
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Post by rocky1 on Apr 8, 2019 7:20:51 GMT
what next,will we have to click on to a NDA to read updates on our loans.l wonder if when some of this mess is over I could have a no win no fee lawyer have a look through the whole lot of lendys dodgy,ducking and diving over the past few years.i think I would have a better chance than our London loan borrower had.
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Post by p2plender on Apr 8, 2019 9:04:05 GMT
I don't think borrowers would be one jot interested in what Lendy are up to re recoveries. It's bad enough as a lender to endure the thrice yearly b/s, why on earth would you want to put yourself through it if you're not a lender?
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Post by madkings on Apr 14, 2019 15:09:59 GMT
Just reading the LY updates. It seems almost every loan is going to get one of these. On the one hand, it suggests that LY are getting serious about recoveries and recovery routes. On the other hand, it is a more cumbersome way to check. I hope they get a better system running than that of the London loan. Where is this located? Cannot find any private portal on my page?
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Post by loftankerman on Apr 14, 2019 15:42:16 GMT
Just reading the LY updates. It seems almost every loan is going to get one of these. On the one hand, it suggests that LY are getting serious about recoveries and recovery routes. On the other hand, it is a more cumbersome way to check. I hope they get a better system running than that of the London loan. Where is this located? Cannot find any private portal on my page? I suspect that this is in the aspirational stage. Planning and implementation may take a while before information is generally available across all problematic loans. I assume they have realised that so many people are invested in multiple disasters that cutting and pasting the same drivel across all portals will be flagged up immediately.
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