sl75
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Post by sl75 on Apr 25, 2019 13:05:19 GMT
I liked the loan PBL196 and it should have a good chance to repay in full. So I wanted to buy a bit. But now my money is neither there and back  Have you had a specific response to the query you presumably raised with Lendy about where your money is?
If it's not released to your Lendy account (or returned to bank account) within a reasonable time, you'd presumably need to escalate it to a formal complaint.
You can quote this part of the website at them as the service level you reasonably expected: "Funds deposited before 5pm will be credited to your account the following morning, with the exception of weekends when deposits will be treated as a Monday deposit and will be credited on Tuesday morning."
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sl75
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Post by sl75 on Apr 25, 2019 13:09:44 GMT
I don't claim to be well informed or even having much understanding, but it puzzles me that anyone with an eye to history can talk about low risk/decent Lendy loans. There's a long list in the "Repaid" section... and perusing the comments on several of those reveals similar comments in the run-up to the full repayment... it's just that nobody discusses them more than a week or so after repayment (if that), but everyone discusses the defaulted loans ad nauseum, giving the forum a rather distorted view of how common each outcome was historically.
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Mike
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Post by Mike on Apr 25, 2019 14:27:55 GMT
Are we satisfied this isn't linked to the proposed legal action from _lenders_ on the old-T&C loans? I believe that also made some progress last week, although I have no idea what that means as I'm not a part of it - Jeepers maybe can update? |
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Post by investorni on Apr 25, 2019 14:45:55 GMT
I don't claim to be well informed or even having much understanding, but it puzzles me that anyone with an eye to history can talk about low risk/decent Lendy loans. There's a long list in the "Repaid" section... and perusing the comments on several of those reveals similar comments in the run-up to the full repayment... it's just that nobody discusses them more than a week or so after repayment (if that), but everyone discusses the defaulted loans ad nauseum, giving the forum a rather distorted view of how common each outcome was historically. And the danger is that having a very public and distorted view of outcomes as a whole leads to no new investment which leads to cash flow problems for lendy which leads to a lack of funding for recovery and loss offsetting. Its a little like brexit, the biggest promoters are the russians and donald trump, neither of which I trust to look after my interests yet still got a slight majority. Sometime the positive voice is far too quiet. Even if its missplaced trust the best case scenario is full recovery, worst case scenario is we lose money, if everyone treats lendy like an already dead duck then all they do is make the worst case scenario all teh more likely
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Post by cashmax on Apr 25, 2019 15:17:50 GMT
There's a long list in the "Repaid" section... and perusing the comments on several of those reveals similar comments in the run-up to the full repayment... it's just that nobody discusses them more than a week or so after repayment (if that), but everyone discusses the defaulted loans ad nauseum, giving the forum a rather distorted view of how common each outcome was historically. And the danger is that having a very public and distorted view of outcomes as a whole leads to no new investment which leads to cash flow problems for lendy which leads to a lack of funding for recovery and loss offsetting. Its a little like brexit, the biggest promoters are the russians and donald trump, neither of which I trust to look after my interests yet still got a slight majority. Sometime the positive voice is far too quiet. Even if its missplaced trust the best case scenario is full recovery, worst case scenario is we lose money, if everyone treats lendy like an already dead duck then all they do is make the worst case scenario all teh more likely Hmm, So as long as people keep investing, we have a chance of getting interest payments. I think there is a name for a scheme like that............
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agent69
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Post by agent69 on Apr 25, 2019 16:11:22 GMT
Hmm, So as long as people keep investing, we have a chance of getting interest payments. I think there is a name for a scheme like that............
P2P?
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Post by investorni on Apr 25, 2019 16:17:00 GMT
Hmm, So as long as people keep investing, we have a chance of getting interest payments. I think there is a name for a scheme like that............
P2P?
There is a difference between Pyramid schemes where the investor pays for other investors. A new investor is never going to pay off an exsisting investors bad debt, their money will fund a new borrower and help sustain Lendys operations. The difference is whilst Lendy IS operational they will try and recover the debt as it benifits them and us. If they get over the bump then its all good, if Lendy goes down, you might aswell write it all off on your self assessment.
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Post by p2plender on Apr 25, 2019 22:57:14 GMT
"if Lendy goes down, you might as well write it all off on your self assessment."
Quite a few wouldn't mind that option, it's just that in the fantasy world of Lendy, no one has ever lost anything!
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Post by loftankerman on Apr 25, 2019 23:27:17 GMT
Lendy are claiming that their plans for the sponsorship of Cowes Week in 2019 will be bigger and better than in 2018. Is this likely if the FCA have the veto on their cheque writing, or does all of that sort of thing come from some other pot of our money?
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Garage246
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Post by Garage246 on Apr 26, 2019 7:51:41 GMT
Lendy are claiming that their plans for the sponsorship of Cowes Week in 2019 will be bigger and better than in 2018. Is this likely if the FCA have the veto on their cheque writing, or does all of that sort of thing come from some other pot of our money? I do hope Cowes 2019 sponsorship goes ahead. Great opportunity for disgruntled investors to turn up and make their point in person at any Lendy event in front of others/cameras. Will be quite a sight. However, really the FCA should put a stop on it.
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Post by picanto on Apr 26, 2019 8:03:21 GMT
Lendy are claiming that their plans for the sponsorship of Cowes Week in 2019 will be bigger and better than in 2018. Is this likely if the FCA have the veto on their cheque writing, or does all of that sort of thing come from some other pot of our money? Really? I'm interested to know where this big pot of cash Lendy have access to in order to afford another year sponsoring Cowes week. I think putting their sponsorship for Cowes week off this year would be a good idea and use that pot of money towards better use, such as recovering our capital in defaulted loans. If Lendy can be successful in achieving that, then I'd be cheerleading Lendy at 2020 Cowes Week and I'd even buy my own Lendy outfit.
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Mucho P2P
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Post by Mucho P2P on Apr 26, 2019 8:07:48 GMT
Lendy are claiming that their plans for the sponsorship of Cowes Week in 2019 will be bigger and better than in 2018. Is this likely if the FCA have the veto on their cheque writing, or does all of that sort of thing come from some other pot of our money? Really? I'm interested to know where this big pot of cash Lendy have access to in order to afford another year sponsoring Cowes week. I think putting their sponsorship for Cowes week off this year would be a good idea and use that pot of money towards better use, such as recovering our capital in defaulted loans. If Lendy can be successful in achieving that, then I'd be cheerleading Lendy at 2020 Cowes Week and I'd even buy my own Lendy outfit. I believe Lendy are tied into a 3 year contract for Cowes, so they can not put it off, even if they wanted.
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reinvestor
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Post by reinvestor on Apr 26, 2019 8:34:17 GMT
Really? I'm interested to know where this big pot of cash Lendy have access to in order to afford another year sponsoring Cowes week. I think putting their sponsorship for Cowes week off this year would be a good idea and use that pot of money towards better use, such as recovering our capital in defaulted loans. If Lendy can be successful in achieving that, then I'd be cheerleading Lendy at 2020 Cowes Week and I'd even buy my own Lendy outfit. I believe Lendy are tied into a 3 year contract for Cowes, so they can not put it off, even if they wanted. If the FCA allow the money to be P1ssed up the wall (literally) by letting the sponsorship go ahead then that would be an absolute dereliction of their duty to protect the consumer.
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greatmarko
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Post by greatmarko on Apr 26, 2019 8:57:14 GMT
Really? I'm interested to know where this big pot of cash Lendy have access to in order to afford another year sponsoring Cowes week... The provision fund?(!)
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adrianc
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Post by adrianc on Apr 26, 2019 9:06:23 GMT
I believe Lendy are tied into a 3 year contract for Cowes, so they can not put it off, even if they wanted. If the FCA allow the money to be P1ssed up the wall (literally) by letting the sponsorship go ahead then that would be an absolute dereliction of their duty to protect the consumer. What are the penalties for breaking the contract?
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