wuzimu
Member of DD Central
Posts: 236
Likes: 735
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Post by wuzimu on May 30, 2019 12:20:52 GMT
This is an invitation to join lendyactiongroup.co.uk / facebook page. A number of concerned lenders have joined together to start this initiative. Today the website links to the facebook page but very shortly the website will be up.
We are launching now to try and get mentioned in a big article this weekend in the Telegraph.
This will greatly assist with raising awareness of the group with the majority of Lendy lenders who never look at the indie forum. The initial mission statement is:1. To act as a point of support and provide co-ordination, news and information to Lendy investors affected by their collapse. 2. To work collectively to recover our investment. We are many but dispersed – together we become strong. 3. To be a voice for lenders to the administrators, regulators and press. 4. To explore potential opportunities for further actions if required and legal basis can be defined for such. PLEASE SIGN UP AND SUPPORT LENDY ACTION GROUP www.lendyactiongroup.co.ukwww.facebook.com/groups/lendyactiongroup/Once we have got going more specific initiatives to recover our savings will be launched If enough of us join together we will influence the course of events positively, we have a lot of relevant experience between us. Kind regards, Wuzimu
* Note to mods, this is obviously not a money making venture and having read the forum rules, I think this post is OK,if you do not agree please let me know why? Thanks W.
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mj
Posts: 37 
Likes: 49
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Post by mj on May 30, 2019 12:47:45 GMT
Your link to the website goes to the Facebook login page. Not much use for those of us not on Facebook. I trust the website will be appearing soon.
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wuzimu
Member of DD Central
Posts: 236
Likes: 735
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Post by wuzimu on May 30, 2019 12:51:14 GMT
It will, please bear with us.
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Post by ss5678 on May 30, 2019 13:19:48 GMT
This is the right course of action and I also think that the politicians/local MPs should be approached to get their support.
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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
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Post by Godanubis on May 30, 2019 13:30:25 GMT
This is the right course of action and I also think that the politicians/local MPs should be approached to get their support. Support for what ?. There is no evidence that anything other than bad management! ! With over 100k in Lendy I’m happy to let the professionals in management of companies in distress to take over and use their expertise to get the best possible results. Constant interference from numerous MPs or aggrieved investors serves only to delay things at a cost. So let’s at least wait for the first independent report before we waste our and their time chasing imaginary malfeasance.
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cwah
Member of DD Central
Posts: 949
Likes: 468
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Post by cwah on May 30, 2019 13:34:21 GMT
This is the right course of action and I also think that the politicians/local MPs should be approached to get their support. Support for what ?. There is no evidence that anything other than bad management! ! With over 100k in Lendy I’m happy to let the professionals in management of companies in distress to take over and use their expertise to get the best possible results. Constant interference from numerous MPs or aggrieved investors serves only to delay things at a cost. So let’s at least wait for the first independent report before we waste our and their time chasing imaginary malfeasance. Have you got £100k locked in Lendy? 
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Post by supernumerary on May 30, 2019 13:39:33 GMT
Once we have got going more specific initiatives to recover our savings will be launched If enough of us join together we will influence the course of events positively, we have a lot of relevant experience between us.
IMHO, for what it is worth, a meeting needs to arranged to formally form a Committee, with elected representatives. THAT meeting needs to be widely advertised.
FWIW, I wish it TOTAL success, for EVERYBODY. I was VERY upset to read this review on Trust Pilot, that was posted on the 10th April 2019;
Oh dear it all seemed so great at the beginning.
Oh dear it all seemed so great at the beginning,I got 12% interest as promised and was encouraged to invest more- I now have £11000 in a series of defaulted loans.some are outstanding now over two years with little or no action,ludicrously uninformative ‘ updates’ appearing every month to tell us nothing except we are proceeding/ as and when/we expect etc etc.
This has caused me severe difficulties as I have had to borrow on credit cards to make up the deficit,at a period of great totally unexpected expenditure for me.I clearly can’t retire as planned due to these actions.nobodys dead,it’s not Stalingrad- but it is a daily source of worry and anxiety.reading the large number of negative reviews has not relieved this one iota.Avoid avoid avoid.
So I will sign up using the website, when it becomes available.
I would like to nominate one of the former posters on this platform, Cooling Dude, to be on the Committee...
Another poster who has already offered help and perhaps is also worthy of a place on the Committee is, Grotdog;
Well I was threatened with being thrown off this forum after being very critical of lendy and management, and predicting just this event. I also suggested the RICS valuations needed to be challenged - and guess what - they started to do so and sued successfully at least once. I was right. I also suggested that individuals got together to sue the company and take control of the assets independently - ie, to sue the individual borrowers. I'm still happy to do so - the administrators are fat cats who will suck every dollar out of it - and anyone who thinks they will see a single pound of return from the administrators needs their head examined. Contact me if you are interested in taking individual action against the property owners through the courts - I'm happy to act as part of a group.. No doubt the admins will say that this post is in some way inappropriate - right now the lenders need to take whatever action to secure their money - which means securing those assets before the administrators do. I can be contacted through Heritage House Consulting if anyone wants. No doubt the admins wont allow my email to be visible - Why, I can only speculate. Good luck everyone. Pete
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zlb
Member of DD Central
Posts: 1,422
Likes: 333
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Post by zlb on May 30, 2019 13:51:50 GMT
This is an invitation to join lendyactiongroup.co.uk / facebook page. A number of concerned lenders have joined together to start this initiative. Today the website links to the facebook page but very shortly the website will be up.
We are launching now to try and get mentioned in a big article this weekend in the Telegraph.
This will greatly assist with raising awareness of the group with the majority of Lendy lenders who never look at the indie forum. The initial mission statement is:1. To act as a point of support and provide co-ordination, news and information to Lendy investors affected by their collapse. 2. To work collectively to recover our investment. We are many but dispersed – together we become strong. 3. To be a voice for lenders to the administrators, regulators and press. 4. To explore potential opportunities for further actions if required and legal basis can be defined for such. PLEASE SIGN UP AND SUPPORT LENDY ACTION GROUP www.lendyactiongroup.co.ukwww.facebook.com/groups/lendyactiongroup/Once we have got going more specific initiatives to recover our savings will be launched If enough of us join together we will influence the course of events positively, we have a lot of relevant experience between us. Kind regards, Wuzimu
* Note to mods, this is obviously not a money making venture and having read the forum rules, I think this post is OK,if you do not agree please let me know why? Thanks W.
It's a closed group... can you confirm what that means in terms of privacy from other connections on fb? I think it means that my 'friends' can't see that I am a member, but if they also join the closed group, then they can. I'm happy to join whichever group is cohesive and helps those who are leading and sharing info. Thanks.
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tombraider
Member of DD Central
Posts: 117
Likes: 103
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Post by tombraider on May 30, 2019 14:48:04 GMT
This is the right course of action and I also think that the politicians/local MPs should be approached to get their support. Support for what ?. There is no evidence that anything other than bad management! ! With over 100k in Lendy I’m happy to let the professionals in management of companies in distress to take over and use their expertise to get the best possible results. Constant interference from numerous MPs or aggrieved investors serves only to delay things at a cost. So let’s at least wait for the first independent report before we waste our and their time chasing imaginary malfeasance. see the lay of the land before using up administrators time and (our) money as lenders looking at potentially unfounded claims. I too have tens of thousands in this....
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Monetus
Member of DD Central
Posts: 1,179
Likes: 2,961
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Post by Monetus on May 30, 2019 15:04:54 GMT
This is an invitation to join lendyactiongroup.co.uk / facebook page. A number of concerned lenders have joined together to start this initiative. Today the website links to the facebook page but very shortly the website will be up.
We are launching now to try and get mentioned in a big article this weekend in the Telegraph.
This will greatly assist with raising awareness of the group with the majority of Lendy lenders who never look at the indie forum. The initial mission statement is:1. To act as a point of support and provide co-ordination, news and information to Lendy investors affected by their collapse. 2. To work collectively to recover our investment. We are many but dispersed – together we become strong. 3. To be a voice for lenders to the administrators, regulators and press. 4. To explore potential opportunities for further actions if required and legal basis can be defined for such. PLEASE SIGN UP AND SUPPORT LENDY ACTION GROUP www.lendyactiongroup.co.ukwww.facebook.com/groups/lendyactiongroup/Once we have got going more specific initiatives to recover our savings will be launched If enough of us join together we will influence the course of events positively, we have a lot of relevant experience between us. Kind regards, Wuzimu
* Note to mods, this is obviously not a money making venture and having read the forum rules, I think this post is OK,if you do not agree please let me know why? Thanks W.
It's a closed group... can you confirm what that means in terms of privacy from other connections on fb? I think it means that my 'friends' can't see that I am a member, but if they also join the closed group, then they can. I'm happy to join whichever group is cohesive and helps those who are leading and sharing info. Thanks. According to Facebook: "Anyone can find the group and see who runs it. Only members can see who's in it and what they post."
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iRobot
Member of DD Central
Posts: 1,680
Likes: 2,477
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Post by iRobot on May 30, 2019 15:11:09 GMT
Support for what ?. There is no evidence that anything other than bad management! ! With over 100k in Lendy I’m happy to let the professionals in management of companies in distress to take over and use their expertise to get the best possible results. Constant interference from numerous MPs or aggrieved investors serves only to delay things at a cost. So let’s at least wait for the first independent report before we waste our and their time chasing imaginary malfeasance. see the lay of the land before using up administrators time and (our) money as lenders looking at potentially unfounded claims. I too have tens of thousands in this.... Tend to agree, but "hope for the best; plan for the worst" In this instance it might just be useful gather a 'register' of other lenders such that, if needed, representation can be made that meets the minimum requirements for a challenge; eg: " In accordance with the provisions of relevant legislation creditors have a right to request further
information about remuneration or expenses and to challenge such remuneration or expenses.
A request for further information must be made within 21 days of receipt of this report in writing by any
secured creditor or an unsecured creditor with the concurrence of at least 5% in value of the unsecured
creditors." It wouldn't be ideal having just 21 days to gather 'concurrence' of around £3M worth of lenders. That's assuming challenges for costs relating to running down the loan book are available to lenders. And/or any such costs will be borne by lenders. And/or it's assuming lenders are treated as creditors. And/or any number of things ... It's too soon to tell. Which brings us back to "hope for the best; plan for the worst".
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Post by magoo68 on May 30, 2019 16:14:12 GMT
With the FB group, I'd feel much better if The Great "Wuzimu" had actually not set up a fake FB account to register the group!! Not off to a flyer on the building trust front is it?
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zccax77
Member of DD Central
Posts: 82
Likes: 76
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Post by zccax77 on May 30, 2019 16:21:22 GMT
With the FB group, I'd feel much better if The Great "Wuzimu" had actually not set up a fake FB account to register the group!! Not off to a flyer on the building trust front is it? I plan to use a fake account to register and login. I do not want People prying into my details. I am a very private person, plus a do not want people to know what a fool I have been putting money into a quasi ponzu scheme.
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zlb
Member of DD Central
Posts: 1,422
Likes: 333
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Post by zlb on May 30, 2019 16:26:30 GMT
At this point, I'm quite happy for admins to remain anonymous on fb - it's a very public place.
I'm quite happy that someone is interested in leading something that isn't mandatory, and hopefully which is demographic, and at least is generous enough to share knowledge which will help explain or enhance legal, legislative, and financial information.
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michaelc
Member of DD Central
Say No To T.D.S.
Posts: 5,710
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Post by michaelc on May 30, 2019 16:28:14 GMT
With the FB group, I'd feel much better if The Great "Wuzimu" had actually not set up a fake FB account to register the group!! Not off to a flyer on the building trust front is it? Its a good idea but I'd also worry about the assymetrical relationship between wuzimu and myself if I joined. I mean he seems a pleasant chap on the forum but if I'm to provide my real name etc shouldn't he also?
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