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Post by masquedefer on May 25, 2019 8:27:06 GMT
Whilst this has been touched on other threads. Could someone summarize the relative advantages/disadvantages (now Lendy is in admin) of the old and new terms and more importantly as I vaguely seem to remember accepting online that by continuing to invest in Lendy (which I did) I was accepting that all loans on old terms were from thereon to be under the new terms. Could this be to my advantage?
Many thanks in advance.
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withnell
Member of DD Central
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Post by withnell on May 25, 2019 13:43:44 GMT
I messaged Lendy Support when the revised T&C came out, they told me that loans under the original T&C (001 etc) were not impacted!
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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 25, 2019 14:26:32 GMT
Whilst this has been touched on other threads. Could someone summarize the relative advantages/disadvantages (now Lendy is in admin) of the old and new terms and more importantly as I vaguely seem to remember accepting online that by continuing to invest in Lendy (which I did) I was accepting that all loans on old terms were from thereon to be under the new terms. Could this be to my advantage? Many thanks in advance. AIUI. If, as the old terms suggest, you are lending direct to Lendy then you would be a direct creditor of Lendy, any recoveries would be part of the general administration pot. As a potentially unsecured creditor you would be at the back of the queue. The new terms should mean you are not a creditor of lender as the contract is directly between you & the borrower so any interest/recoveries would be distributed under the terms of the loan agreement, with Lendy only being entitled to contractural fees etc.
However, I suspect that the old terms are potentially more nuanced given the terms of the contract between lenders & Lendy & the complication that in one case DFL002, there are charges in favour of SSSH and Lendy, so a potential combination of terms.
I dont think you will have accepted the old term loans (the old terms are still attached to the loans) moving to new terms, never an option IIRC, only that new term loans are on newer terms. Some old term loans 37-39 were migrated to new terms to bring them into line with subsequent loans launched on new terms 69-71. With the exception of those three, any loan before PBL064 is old terms plus the two Devon DFL.
There is a post on a relevant thread on the other forum from a former IP giving an interpretation of what the various status of creditors may be.
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Post by philhove on May 26, 2019 11:34:35 GMT
Not sure if I am in correct Lendy forum- SA100 - TAX RETURN - IMPLICATIONS - can anyone tell me how I can declare, (include, or not), this, (potential) loss, (of tens of thousands)? or do I have to wait? Hopefully holding against Tax to be paid/or claimed back from previous Tax I paid.
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