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 May 10, 2019 19:56:17 GMT
I have clearly stepped outside accepted forum etiquette, but dont fully understand how/why. Can you explain as I am not only new this thread but forums in general. Hoping for a more friendly experience than when I ventured into such 10 years ago! I just wanted to share my response as it seems a clear indication that ceasing to trade can't be far away given FCA restrictions as no new business. All that would mean their appointed administrators would take over. I presuma FCA will not make a collateral mistake twice and a competent firm and a full copy of the loanbook would be available from day one. It could actually work out better if that firm were aggressive at fund recovery.
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ilmoro
Member of DD Central
'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 May 10, 2019 20:03:25 GMT
I have clearly stepped outside accepted forum etiquette, but dont fully understand how/why. Can you explain as I am not only new this thread but forums in general. Hoping for a more friendly experience than when I ventured into such 10 years ago! I just wanted to share my response as it seems a clear indication that ceasing to trade can't be far away given FCA restrictions as no new business. All that would mean their appointed administrators would take over. I presuma FCA will not make a collateral mistake twice and a competent firm and a full copy of the loanbook would be available from day one. It could actually work out better if that firm were aggressive at fund recovery. Make your own mind up. Parent co are administrators on PBL064.
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iRobot
Member of DD Central
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Post by iRobot on May 10, 2019 20:12:46 GMT
I have clearly stepped outside accepted forum etiquette, but dont fully understand how/why. Can you explain as I am not only new this thread but forums in general. Hoping for a more friendly experience than when I ventured into such 10 years ago! I just wanted to share my response as it seems a clear indication that ceasing to trade can't be far away given FCA restrictions as no new business. From my viewpoint, you haven't 'stepped outside accepted forum etiquette', but just be aware that these are troubling times for Lendy (and P2P in general, I'd say) and this makes for fractious lenders / posters. I would however point out that imminent ceasing to trade isn't necessarily a natural outcome of no new loan origination as there will be funds received as a result of closing out existing loans. (Yes, this does involve actually bringing loans in to land at some point and, no question, the sooner the better.) What would be handy is to understand the Group position in terms of its' current balance sheet but barring an exceptional announcement by Lendy themselves, that isn't likely. (And understanding Lendy's financial position is not helped by the Group's December 2017 accounts being 9 months late. Rightly or wrongly, I don't know, but I take some small crumb of comfort in the FCAs oversight as I would hope / expect that Lendy have had to demonstrate themselves to be financially viable for the FCA not to pull the plug now and force them to invoke their wind-down process.)
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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.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on May 10, 2019 20:21:20 GMT
All that would mean their appointed administrators would take over. I presuma FCA will not make a collateral mistake twice and a competent firm and a full copy of the loanbook would be available from day one. It could actually work out better if that firm were aggressive at fund recovery. Make your own mind up. Parent co are administrators on PBL064. The administrators named in their FCA approved Plan for failure mitigation. PBL064 going ok given the starting point.
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gijai
New Member
Posts: 5
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Post by gijai on May 13, 2019 11:15:54 GMT
Hi Guys,
Need help from experts. All our investments are going RED with Lendy and if Lendy were to go bust then what evidences we have for our lent money? With all thats happening around, I have been concerned that if Lendy website ceases then I don't have any access to loans and lent money. All I have is an online account on their website. There are no other documents/evidences legal or contractual, to prove the investment.
Is there anything that can be arranged from Lendy? Have you received anything at all from Lendy? Please advise.
Many thanks
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locutus
Member of DD Central
Posts: 1,059
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Post by locutus on May 13, 2019 11:30:01 GMT
Hi Guys,
Need help from experts. All our investments are going RED with Lendy and if Lendy were to go bust then what evidences we have for our lent money? With all thats happening around, I have been concerned that if Lendy website ceases then I don't have any access to loans and lent money. All I have is an online account on their website. There are no other documents/evidences legal or contractual, to prove the investment.
Is there anything that can be arranged from Lendy? Have you received anything at all from Lendy? Please advise.
Many thanks
- Log into Lendy
- My Loans -> Export to Excel
- My Accounts -> Set dates to include all transactions -> Export
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adrianc
Member of DD Central
Posts: 10,026
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Post by adrianc on May 13, 2019 11:39:30 GMT
if Lendy were to go bust then what evidences we have for our lent money? If Lendy do go into administration, then there are arrangements already in place for the business to continue with another FCA-authorised firm. These wind-down arrangements are an integral part of Lendy's FCA approval. Everybody draws parallel with Collateral's failure, but it's a very different scenario - COL weren't FCA approved, and nor were the administrators the management chose, so there was no wind-down arrangement in place.
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gijai
New Member
Posts: 5
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Post by gijai on May 13, 2019 12:15:10 GMT
Hi Guys,
Need help from experts. All our investments are going RED with Lendy and if Lendy were to go bust then what evidences we have for our lent money? With all thats happening around, I have been concerned that if Lendy website ceases then I don't have any access to loans and lent money. All I have is an online account on their website. There are no other documents/evidences legal or contractual, to prove the investment.
Is there anything that can be arranged from Lendy? Have you received anything at all from Lendy? Please advise.
Many thanks
- Log into Lendy
- My Loans -> Export to Excel
- My Accounts -> Set dates to include all transactions -> Export
Thanks a lot. I have already exported this data and it's just a spreadsheet. So I thought, would a spreadsheet hold any value if things go south but looks like that's all we have from Lendy. There is not even my Lendy account number or any unique identifier (to identify me) in those spreadsheets - My Loans and Account Statement. If I were to make any claim, how can I say its a genuine claim. Anyone can make up that spreadsheet. Only the tax statement generated from Lendy has atleast the full name.
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locutus
Member of DD Central
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Post by locutus on May 13, 2019 12:27:37 GMT
Thanks a lot. I have already exported this data and it's just a spreadsheet. So I thought, would a spreadsheet hold any value if things go south but looks like that's all we have from Lendy. There is not even my Lendy account number or any unique identifier (to identify me) in those spreadsheets - My Loans and Account Statement. If I were to make any claim, how can I say its a genuine claim. Anyone can make up that spreadsheet. Only the tax statement generated from Lendy has atleast the full name. All these details can be fabricated but they should tally with transactions on your bank statements in the event they are ever requested. See them as an accurate record of your dealings which can be backed up with bank statements if necessary.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
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Post by ilmoro on May 13, 2019 12:43:19 GMT
- Log into Lendy
- My Loans -> Export to Excel
- My Accounts -> Set dates to include all transactions -> Export
Thanks a lot. I have already exported this data and it's just a spreadsheet. So I thought, would a spreadsheet hold any value if things go south but looks like that's all we have from Lendy. There is not even my Lendy account number or any unique identifier (to identify me) in those spreadsheets - My Loans and Account Statement. If I were to make any claim, how can I say its a genuine claim. Anyone can make up that spreadsheet. Only the tax statement generated from Lendy has atleast the full name. You might also want to download the accrued interest pages, IOA & IA tabs.
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gijai
New Member
Posts: 5
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Post by gijai on May 13, 2019 13:46:40 GMT
You might also want to download the accrued interest pages, IOA & IA tabs. Are you able to download IA tabs data? Although columns are different on this page but when I export this, platform is generating the same spreadsheet of all the loans as it does from 'Live Loanparts' tab. It's not generating a separate spreadsheet from IA tab. Do you get the same sheet OR separate one? Thanks
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treeman
Member of DD Central
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Post by treeman on May 13, 2019 13:48:45 GMT
gijai - Try this - Fireshot - Full page web to pdf addon. Useful perhaps aswell as the spreadsheets. Available as a Free addon for FF & Chrome.
For ref: getfireshot.com/ Pro version available at cost allows editing and other funky stuff. Other similar addons available too.
Results are acceptable - see attached for example. It's from the free version.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
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Post by ilmoro on May 13, 2019 14:03:59 GMT
You might also want to download the accrued interest pages, IOA & IA tabs. Are you able to download IA tabs data? Although columns are different on this page but when I export this, platform is generating the same spreadsheet of all the loans as it does from 'Live Loanparts' tab. It's not generating a separate spreadsheet from IA tab. Do you get the same sheet OR separate one? Thanks No, youre right. The excel download is just a generic loan book, not linked to what is displayed on the page. Have to be screenshots instead.
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treeman
Member of DD Central
Posts: 1,026
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Post by treeman on May 13, 2019 14:12:40 GMT
Are you able to download IA tabs data? Although columns are different on this page but when I export this, platform is generating the same spreadsheet of all the loans as it does from 'Live Loanparts' tab. It's not generating a separate spreadsheet from IA tab. Do you get the same sheet OR separate one? Thanks No, youre right. The excel download is just a generic loan book, not linked to what is displayed on the page. Have to be screenshots instead. Can be scraped then paste into excel.
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greatmarko
Member of DD Central
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Post by greatmarko on May 13, 2019 15:23:33 GMT
gijai - Try this - Fireshot - Full page web to pdf addon. Useful perhaps aswell as the spreadsheets. Available as a Free addon for FF & Chrome.
For ref: getfireshot.com/ Pro version available at cost allows editing and other funky stuff. Other similar addons available too.
Windows 10 already allows you to natively print web pages to PDF files (simply select the "Microsoft Print to PDF" option from your browser's print dialog) - no additional browser addons required.
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