Post by scooter on Oct 8, 2021 16:44:22 GMT
I noticed that although loan comments stated recovery payments were being received, I was not getting a share even though I had previously.
LC said
"As part of an ongoing review of our internal processes, it was identified that our operational practice did not align with Section 13 of our Terms and Conditions. We thus made the decision to align the recovery process with the terms of Section 13 from June onward.
We appreciate this is a change to our previous operational process, however, we hope you can understand why it is important that our professional advisors are paid in a timely manner."
Not saying they are wrong, but timing sucks. It would have been nice to be told upfront. I like LC but I am being forced to withdraw my cash as I can't invest it with them and I have to pay fees to do so. I can't get my head around the idea of putting money back in, when it is open again, knowing that I will have to pay more fees to take it out again in the future. Investors are being treated with so little respect.
If I was a borrower I would be getting a cuddle and payment break...
LC said
"As part of an ongoing review of our internal processes, it was identified that our operational practice did not align with Section 13 of our Terms and Conditions. We thus made the decision to align the recovery process with the terms of Section 13 from June onward.
We appreciate this is a change to our previous operational process, however, we hope you can understand why it is important that our professional advisors are paid in a timely manner."
Not saying they are wrong, but timing sucks. It would have been nice to be told upfront. I like LC but I am being forced to withdraw my cash as I can't invest it with them and I have to pay fees to do so. I can't get my head around the idea of putting money back in, when it is open again, knowing that I will have to pay more fees to take it out again in the future. Investors are being treated with so little respect.
If I was a borrower I would be getting a cuddle and payment break...