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Post by scooter20 on Apr 7, 2020 20:26:21 GMT
hello to all. short and simple please.
i have x amount of money still with lendy. held with 4 loans. i can type the refrence number if need be.
all loans are over 2.5 years negitive time remaining.
1. what is happening with this money.
2. will any amount ever come back from the administrators.
3. how much % can we all expect?
many thanks for your time.
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garfield
Member of DD Central
Posts: 490 
Likes: 268
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Post by garfield on Apr 7, 2020 22:16:43 GMT
Hi scooter20, thanks for your post. Which loans are they? By number not name: DFL... PBL...
The administration will take some time, longer now given the current pandemic. I hope you don't have too much money in these loans. Look forward to hearing from you.
PS Are you getting e-mails from the administrators?
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Post by billy169 on Apr 8, 2020 7:27:06 GMT
50% ... sorry but that's unlikely.more like 20-30% if lucky.
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Post by scooter20 on Apr 8, 2020 11:04:34 GMT
hello. many many thanks for replies. my mind is at ease a little more.
i have left over £2000 stuck. £600 in interest, dust in the wind now i think. i knew risks of course. :
loans are DFL017- i see this is still up for sale. about 1.5 million less than what loan value was :<
PBL084- havent found any sale info.
pbl102- havent found any sale info.
PBL 157- i have seen some sale info on rightmove etc and blog posts and what not . no idea whats happening with it.
i also register with Lendy action group. no recent updates since jan/feb i think.
again thanks for your time. i can give any more info whenever need be as i see some parts of this lendy forum is dying.
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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 Apr 8, 2020 11:25:25 GMT
hello. many many thanks for replies. my mind is at ease a little more.
i have left over £2000 stuck. £600 in interest, dust in the wind now i think. i knew risks of course. :
loans are DFL017- i see this is still up for sale. about 1.5 million less than what loan value was :<
PBL084- havent found any sale info.
pbl102- havent found any sale info.
PBL 157- i have seen some sale info on rightmove etc and blog posts and what not . no idea whats happening with it.
i also register with Lendy action group. no recent updates since jan/feb i think.
again thanks for your time. i can give any more info whenever need be as i see some parts of this lendy forum is dying.
If you are on FB I would suggest joining LAG on there as it is considerably more active. Just make sure you answer the 3 questions
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Post by billy169 on Apr 8, 2020 11:54:17 GMT
You knew the risk..as stated..you didn't know about possible corruption, lies.. collusion with borrowers, hidden charges etc...with the FCA support.
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Post by mattygroves on Apr 9, 2020 9:49:02 GMT
You knew the risk..as stated..you didn't know about possible corruption, lies.. collusion with borrowers, hidden charges etc...with the FCA support. Surely most of those are part of the risk of P2P lending ? You must have realised you were lending to sub prime borrowers so a high possibility of corruption, lies and generally dodgy borrowers. There is a reason they are paying the high interest rates for P2P.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Apr 9, 2020 10:27:21 GMT
You knew the risk..as stated..you didn't know about possible corruption, lies.. collusion with borrowers, hidden charges etc... with the FCA support.Surely most of those are part of the risk of P2P lending ? You must have realised you were lending to sub prime borrowers so a high possibility of corruption, lies and generally dodgy borrowers. There is a reason they are paying the high interest rates for P2P. Have you missed the key point though mattygroves? Which I have highlighted.
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Post by queenvictoria on Apr 9, 2020 10:47:04 GMT
You knew the risk..as stated..you didn't know about possible corruption, lies.. collusion with borrowers, hidden charges etc...with the FCA support. Surely most of those are part of the risk of P2P lending ? You must have realised you were lending to sub prime borrowers so a high possibility of corruption, lies and generally dodgy borrowers. There is a reason they are paying the high interest rates for P2P. I knew there was a high probability of borrowers defaulting which is why I spread my money around borrowers and even platforms. I didn't know about the large scale corruption, lies, collusion with borrowers and hidden charges. It is clearly evident now with Lendy and some of it seems to be the case with other platforms too. But, no, when I got involved I did not know.
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Post by rooster on Apr 9, 2020 18:58:36 GMT
You knew the risk..as stated..you didn't know about possible corruption, lies.. collusion with borrowers, hidden charges etc...with the FCA support. Surely most of those are part of the risk of P2P lending ? You must have realised you were lending to sub prime borrowers so a high possibility of corruption, lies and generally dodgy borrowers. There is a reason they are paying the high interest rates for P2P. I didn't realise about those particular risks and so perhaps that's the point.
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Post by df on Apr 9, 2020 20:21:55 GMT
hello. many many thanks for replies. my mind is at ease a little more.
i have left over £2000 stuck. £600 in interest, dust in the wind now i think. i knew risks of course. :
loans are DFL017- i see this is still up for sale. about 1.5 million less than what loan value was :<
PBL084- havent found any sale info.
pbl102- havent found any sale info.
PBL 157- i have seen some sale info on rightmove etc and blog posts and what not . no idea whats happening with it.
i also register with Lendy action group. no recent updates since jan/feb i think.
again thanks for your time. i can give any more info whenever need be as i see some parts of this lendy forum is dying.
You can definitely forget about the interest. LTV's were fictional, so everything will be sold for much less than stated, plus all fees/expenses... overall it will be a success if investors get 50% of their capital back. Good to know about the epic DFL17, it will be great to get anything out of it after all what happened.
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Post by scooter20 on Apr 11, 2020 11:23:32 GMT
thank you again for all comments. i have already accepted loss of this money. time to move on. again was aware of risks and high interest associated with it. lesson learned. im sure other people would have been burned alot more than me. i wish everyone all the best in the future.
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Post by andygod1 on Apr 11, 2020 21:16:35 GMT
I knew there may be some dodgy borrowers, but i didnt expect the degree that emerged.
>>>however, lets not forget many many loans were successfully repaid. <<<If the market conditions didnt take a tumble , Lendy would have probably continued on successfully as had been the case for years.
All the same at 12 % return i knew it was very very high risk independently of malpractice. ( whether or not the whole thing was a sham) .
i acted accordingly , sold the whole lot early, and lost £100.
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