trevor
Member of DD Central
Posts: 541 
Likes: 374
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Post by trevor on Jan 30, 2023 17:57:46 GMT
administration ends 23.5.23 so i guess they will just carry on now fleecing lenders until it is no longer a money spinner for them and just close it all down. Wouldn’t be surprised if the administration is still going in 2026.
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izigor
Member of DD Central
Posts: 161
Likes: 84
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Post by izigor on Feb 1, 2023 4:48:42 GMT
administration ends 23.5.23 ... What does that mean? Does everything end on that date? website closed down, no more recoveries, nothing? end of Lendy life? OR Company's normal operation resumes?
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quidco
Member of DD Central
Posts: 286
Likes: 361
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Post by quidco on Feb 1, 2023 10:48:47 GMT
administration ends 23.5.23 ... What does that mean? Does everything end on that date? website closed down, no more recoveries, nothing? end of Lendy life? OR Company's normal operation resumes? As far as I'm aware if there are still unresolved issues adminsitrations just get extended, e.g. in the case of lendy until there are no longer any prospects of recovering meaningful amounts of money from the borrowers. One thing for sure is Lendy will never resume normal ops.
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keitha
Member of DD Central
FC loans defaulting faster than I can eat cream cakes
Posts: 2,594
Likes: 1,513
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Post by keitha on Feb 1, 2023 17:40:08 GMT
Bankruptcy / Administration of a business is a little different to personal.
one of the things I always struggle to understand is an item on the news that says "Keithco" has gone into administration owing £5 million, all the staff have been made redundant. the next day the media is full of people saying "I spent 6 hours trying to phone Keithco yesterday and no one answers the phone or messages in Twitter Facebook etc, its a disgrace" Who do they think will answer the phones or social media, the staff that were sacked, it is likely the staff can't even access the offices to retrieve personal belongings.
personal bankruptcy, once it's over you can return to normal except there is a big black mark on your credit file. Although when you see the lifestyle of some bankrupts it's way better than the average person has even during the bankruptcy period.
Business administration the business has gone, everything gets sold off to raise money for the creditors. and I mean everything, I purchased some items from a bankruptcy Auction yesterday, and as an example the dishwasher was sold complete with a load of dirty mugs.
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Post by rooster on Feb 1, 2023 18:31:43 GMT
administration ends 23.5.23 ... What does that mean? Does everything end on that date? website closed down, no more recoveries, nothing? end of Lendy life? OR Company's normal operation resumes? It definitely couldn't 'resume' normal operations as it has transpired that it was never operating normally when it was trading!
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benaj
Member of DD Central
Posts: 4,135
Likes: 1,348
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Post by benaj on Feb 2, 2023 11:00:33 GMT
Has anyone received payment from any withdrawal made since 16th Jan?
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jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,513
Likes: 2,855
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Post by jonno on Feb 2, 2023 11:33:25 GMT
Has anyone received payment from any withdrawal made since 16th Jan? Not me. My request was on the 19th.
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Post by davidspindle on Feb 2, 2023 11:40:04 GMT
Requested 13 Jan received 2 Feb
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Post by bata on Feb 2, 2023 12:22:56 GMT
Requested 13 JAN nothing received yet. Requested 19 JAN nothing received yet.
One of RSM Lendy Administration's main aims, "The orderly run down of the loan book".
My definition of "orderly" includes bank transfers of less than 3 weeks' duration.
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adrianc
Member of DD Central
Posts: 7,731
Likes: 4,352
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Post by adrianc on Feb 2, 2023 15:25:15 GMT
PBL101
PBL102
PBL156 (44%)
PBL157
PBL158
PBL199 (54%)
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Post by investor1925 on Feb 2, 2023 15:26:14 GMT
After today's payments & what was said earlier, I thought about leaving my cash there until it had built up, but then I thought I could do with nearly 1k earning me interest again, so I decided to hit the withdraw button & just wait.
At present I've had 2 out of 3 returned, taking 14 & 12 days, so I'm expecting the 3rd any time now.
Today's is the 4th & biggest by far.
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bloodycat
Member of DD Central
Posts: 174
Likes: 76
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Post by bloodycat on Feb 2, 2023 15:38:49 GMT
I thought about delaying withdrawal, but I think this concludes all the previously notified intended interim payments so it may be a while before we get anything else.
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izigor
Member of DD Central
Posts: 161
Likes: 84
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Post by izigor on Feb 3, 2023 16:12:07 GMT
Withdrawal request on 13th Jan reached the account yesterday, 02nd Feb.
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Post by df on Feb 3, 2023 17:38:49 GMT
Withdrawal request on 13th Jan reached the account yesterday, 02nd Feb. The same here with the only difference that I requested on 12th Jan.
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Post by martin44 on Feb 3, 2023 20:06:20 GMT
3 weeks in and nothing.
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