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Post by df on Nov 9, 2019 22:15:26 GMT
FS administration has just started, so the only other one to compare is Col/BDO. Based on this comparison, I'm happy with Ly administration process so far. Frequent communication and already had some proportion of capital back in my bank account.
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Godanubis
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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 Nov 10, 2019 10:20:54 GMT
At this early stage it shows the “J R Mogg “ result which actually said with hindsight reasonable people see it is progressing satisfactorily or is too early to judge.
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benaj
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Post by benaj on Nov 15, 2019 16:40:18 GMT
We receive another update from RSM today, compared to BDO & CG, there's more "communication".
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adrianc
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Post by adrianc on Nov 15, 2019 17:07:43 GMT
Yes, I think I am - but I've voted "Too early".
Why? Because the updates look as if things are really happening. New lawyers, new agents, backsides getting kicked. But will that actually get anywhere...?
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chriscross
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Post by chriscross on Nov 15, 2019 17:45:41 GMT
Yes, I think I am - but I've voted "Too early". Why? Because the updates look as if things are really happening. New lawyers, new agents, backsides getting kicked. But will that actually get anywhere...? I'm pretty much where you are adrianc, I too voted early, but I am certainly not unhappy, but feel it's still too early to commit to being happy until I receive some form of confirmation that I will get a good proportion of my losses back, as in the end that is the crux of the matter. When you compare RSM's dealings with BDO, it's pretty much chalk and cheese, RSM have kept us so much better informed on a fairly regular basis and we've even started to see returns . BDO, in relation to COL which is nearing it's 2nd year of administration, on the other hand have pretty much kept us investors feeling like mushrooms. For those who don't know the analogy, it's being kept in the dark and fed a load of sh*t. So taking that into consideration there is no way we can be unhappy yet..
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adrianc
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Post by adrianc on Nov 15, 2019 18:03:31 GMT
...until I receive some form of confirmation that I will get a good proportion of my losses back, as in the end that is the crux of the matter. Even if we don't, as long as we know why - and it's because the loans really did turn out to be a pile of stinking rubbish, but every proportional attempt has been made to get as much as possible back - I'll not be unhappy with the administration process. The big difference, of course, is that one outcome of the last creditor meeting - a few weeks ago - is that BDO finally actually had the loan database, thanks to the deliberately malicious actions of the previous administration cowboys. If it'd stayed with Refresh, we'd be in an even worse position.
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Godanubis
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Post by Godanubis on Nov 15, 2019 21:10:40 GMT
Back to Lendy another few interim payments. I see interest and Bonus still attached to remaining loan. Happy for "Slowly Slowly Catchy Monkey"
As long as we catch the monkey in the End.
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travolta
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Post by travolta on Nov 15, 2019 21:38:53 GMT
Happy, no , there's nothing to make me happy with this anymore , at all and thats that. In fact I'm totally p****d with the whole thing. Totally and utterly fed up and wish I'd never found out about Saving Stream , Lendy or any of it . I blame Financial Thing , the Web, the World , My Parents and most of all myself . I think I'll go and have a biscuit and a cuppo tea.  |
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Post by df on Nov 15, 2019 21:57:49 GMT
Back to Lendy another few interim payments. I see interest and Bonus still attached to remaining loan. Happy for "Slowly Slowly Catchy Monkey"
As long as we catch the monkey in the End.
Yes, that was nice. Drop in the ocean for me, unfortunately most of my funds are in other loans, but it is good to see some returns arriving to my bank account. I don't think we'll catch the whole of the monkey at the end, but these interim payments can be reinvested somewhere or at least earn a small interest in banks instead of just sitting there and loosing their valued to inflation.
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one21
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Post by one21 on Nov 18, 2019 17:43:55 GMT
Dear God at c£500 / hr (without Shoesmiths advise) I should hope RSM have enough common sense, to work out that Lendy's latest T&Cs were an attempt to discourage further lender investment with a gradual engineered platform self destruct. By taking their exorbitant fees before lenders capital return (in the event of a default) is tantamount to a sophisticated scam. It appears that they were hoping many inexperienced retail investors, would not read or understand the significance of the changes.
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Brainer
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Post by Brainer on Nov 18, 2019 19:07:28 GMT
Dear God at c£500 / hr (without Shoesmiths advise) I should hope RSM have enough common sense, to work out that Lendy's latest T&Cs were an attempt to discourage further lender investment with a gradual engineered platform self destruct. By taking their exorbitant fees before lenders capital return (in the event of a default) is tantamount to a sophisticated scam. It appears that they were hoping many inexperienced retail investors, would not read or understand the significance of the changes. Aided by Lendy Support who when asked what had changed responded:
"The refreshed T&Cs are by and large a tidying up exercise to reflect changes we have been making to the model over recent months, and had previously been communicated, for example, cash preferencing. The main addition is the new section 16, which relates to a new voting feature that will enable us to seek the views of 'eligible lenders' before we take action in relation to a loan. Further information on this feature will be communicated to all investors ahead of launch."
I guess the new repayment order that could quite easily see lenders' capital returns reduce by 30+% slipped their mind.
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Post by Companion Cube on Nov 19, 2019 12:06:22 GMT
Back to Lendy another few interim payments. I see interest and Bonus still attached to remaining loan. Happy for "Slowly Slowly Catchy Monkey"
As long as we catch the monkey in the End.
Yes, that was nice. Drop in the ocean for me, unfortunately most of my funds are in other loans, but it is good to see some returns arriving to my bank account. I don't think we'll catch the whole of the monkey at the end, but these interim payments can be reinvested somewhere or at least earn a small interest in banks instead of just sitting there and loosing their valued to inflation.
No. We'll probably end up with just a couple of "Ape knees". 
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NSFW
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Post by NSFW on Nov 19, 2019 14:30:28 GMT
Oops I voted "Yes" by mistake haha. Can't change my vote it seems.
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shimself
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Post by shimself on Nov 19, 2019 14:35:32 GMT
I got so excised I wrote to Damian Webb in person (re the KYC)
First I got a reply from his assistant asking me what I wanted (to which the answer was READ WHAT I WROTE YOU USELESS DINGBAT slightly rephrased)
now silence
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Post by Ace on Nov 19, 2019 18:18:16 GMT
Oops I voted "Yes" by mistake haha. Can't change my vote it seems. I can change my vote by unticking my selection then ticking an alternative.
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