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Post by munchydave on May 27, 2019 20:53:08 GMT
How many of the 22,000 investors are aware it's gone into administration?
I've yet to receive any direct notifications from the platform.
Just got back from a holiday and been out of touch for a week when I got the news. I was in collateral when it went down the drain and now Lendy as expected has gone. FS looks very sick with most of my investments late and MT a similar story. In short we are at the end of the P2P era. It will all limp along a bit longer as there are many who do not read this forum and have little idea what a mess it all is. I did manage to get money out and stopped investing in all P2P months ago but still left with a potential loss. Over several years of investing on many sites and much effort I expect the final rate of interest to be negative due to capital losses. Would have done better in the bank at 1.0% interest. I do feel sorry for the few sites that have made a real effort to be honest and fair to investors but they will suffer as a result of this state of affairs.
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cwah
Member of DD Central
Posts: 949 
Likes: 468
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Post by cwah on May 27, 2019 21:08:06 GMT
How many of the 22,000 investors are aware it's gone into administration?
I've yet to receive any direct notifications from the platform.
Just got back from a holiday and been out of touch for a week when I got the news. I was in collateral when it went down the drain and now Lendy as expected has gone. FS looks very sick with most of my investments late and MT a similar story. In short we are at the end of the P2P era. It will all limp along a bit longer as there are many who do not read this forum and have little idea what a mess it all is. I did manage to get money out and stopped investing in all P2P months ago but still left with a potential loss. Over several years of investing on many sites and much effort I expect the final rate of interest to be negative due to capital losses. Would have done better in the bank at 1.0% interest. I do feel sorry for the few sites that have made a real effort to be honest and fair to investors but they will suffer as a result of this state of affairs. The main difference I think is that Lendy let himself die. I wonder why because they could have tried to get more loans like FundingSecure or MoneyThing. But from the day the loans started to be suspended, there was no more "fresh blood" and the only additional loans were these deadly additional tranches that no one wanted.
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dvorak
New Member
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Post by dvorak on May 27, 2019 21:39:47 GMT
I'm down about £900, I think.
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Post by bluehorseshoe on May 28, 2019 7:18:18 GMT
I had 15k invested before hearing the alarm bells and deciding to sell out in May 2017. Still have 7.8k stuck in defaults. Long written this off tbh, if I get anything back I'll consider it a bonus.
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Post by queenvictoria on May 28, 2019 7:21:43 GMT
If the balance showing on my account pays out then I will not have lost but all the money is stuck in defaulted (my term, obviously) loans so I now expect to lose most of it.
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jaswells
Member of DD Central
Posts: 255
Likes: 184
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Post by jaswells on May 28, 2019 7:41:23 GMT
I had 15k invested before hearing the alarm bells and deciding to sell out in May 2017. Still have 7.8k stuck in defaults. Long written this off tbh, if I get anything back I'll consider it a bonus. I find it easier to look at my lifetime deposits and withdrawals, as my Lendy 'balance' is far in excess of what I have actually 'lost'- still significant 4 figures mind.
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Post by marcusanthony24 on May 28, 2019 8:42:40 GMT
I have been taking money out over the last few months but still have over £420 invested all of which are in default. I like the principle of p2p but companies like Lendy play fast and loose with investors money. I have been taking money out of p2p and putting it into a bank account or premium bonds. Assetz capital and Ratesetter seem to be the most responsible p2p.
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Post by philhove on May 28, 2019 9:16:50 GMT
This Crash really put a big depression on my Bank Holiday - have 30k invested in Ly - (had a lot more until saw the light 18 months ago and sold everything possible - this 30k is the balance stuck in the multitude of defaults).
Hopefully some of early potential recovery will be part my £4.6K invested in Liverpool H******** - one that just sold.
Now rapidly Downsizing almost every other P2P site am invested in. Naively, I always convinced myself that the Guys in Lendy at least had certified Surveyors Valuation on everything I invested, with relevant First Charge security! No fool like an old fool!
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Post by investor1925 on May 28, 2019 9:31:15 GMT
I have been taking money out over the last few months but still have over £420 invested all of which are in default. I like the principle of p2p but companies like Lendy play fast and loose with investors money. I have been taking money out of p2p and putting it into a bank account or premium bonds. Assetz capital and Ratesetter seem to be the most responsible p2p. Yes, Assetz do seem more responsible, but I've got money stuck in the Standard Account that I'm trying to sell & move over to the Assetz IFISA, so it' not all roses I'm afraid.
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jcb208
Member of DD Central
Posts: 838
Likes: 638
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Post by jcb208 on May 28, 2019 9:40:46 GMT
I haven't lost money even if don,t get the 10K back still stuck in defaulted loans I would be up 15K,I think through more luck then judgment as I started when you could buy a loan and sell when ever you like.My losses will be with Collateral where I have a large amount tied up in administration
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jaswells
Member of DD Central
Posts: 255
Likes: 184
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Post by jaswells on May 28, 2019 9:45:00 GMT
This Crash really put a big depression on my Bank Holiday - have 30k invested in Ly - (had a lot more until saw the light 18 months ago and sold everything possible - this 30k is the balance stuck in the multitude of defaults). Hopefully some of early potential recovery will be part my £4.6K invested in Liverpool H******** - one that just sold. Now rapidly Downsizing almost every other P2P site am invested in. Naively, I always convinced myself that the Guys in Lendy at least had certified Surveyors Valuation on everything I invested, with relevant First Charge security! No fool like an old fool! Sorry to hear that. To try to paint a rosier picture, i suspect the as you have been in LY over 18 months and winding down, it seems likely your net deposits in LY are much less than 30k. In addition you will get a portion of the 30k back at some stage. I would think when all is said and done I would hope your loss may end up being south of 10K.
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Post by slingsby on May 28, 2019 11:18:48 GMT
Recent events have caused me to register after lurking for a while.
From a high of £11.5k I've now got £7.3K still in Lendy. I've taken about £2.5K out in interest and bonuses over the nearly three years I've been in so I'm looking at a cash loss of up to £5K.
Luckily, while I'd rather not lose anything, I can afford the hit and can treat it as a good lesson in investment risk. Many will be hit much harder than me.
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jfh82
Posts: 77
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Post by jfh82 on May 28, 2019 13:28:15 GMT
I've got £11.5k stuck. Down from about £16k, I started pulling out about a year ago but with everything being suspended was unable to. I feel very mislead by the LTV's claimed too.
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badersleg
Member of DD Central
Posts: 207
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Post by badersleg on May 28, 2019 14:16:14 GMT
I've got about £10500 in DFL's 1,2 and 4. I've been with with Lendy since the days of barges, super yachts and Aston Martins, and tried to sell when the defaults started to mount up and others on here expressed concerns. ( Thanks )
Unfortunately I believed the updates about DFL4 so hung onto it until it was too late.
I've had £38000 in interest, cashback and bonuses off them over the years, so I won't grumble too much.
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Post by investorni on May 28, 2019 15:09:11 GMT
£25k tied up in lendy earning 0 interest, most in PBL101, DFL012, PBL103, DFL019, DFL006, and DFL005
So from reading the previous 2 pages looks like I am well up there in the royally screwed league.
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