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Post by charliebrown on Aug 27, 2018 14:16:07 GMT
I might be on very shaky ground asking this (hence why it is a question and not a suggestion) because I don't know the L agreement that intimately nor do I know as much about this loan as some but is there anything to prevent a small investor going via the small claims track and obtaining a ccj against L followed by payment or a larger investor going the regular county court route with solicitor? It is nearly always possible in almost any situation to go to Court. Using Moneyclaim (the on-line version of the Small Claims Court) may not be a bad idea as the Court Fee is quite low (depends on the amount of the claim) and if the defendant does not file a defence in 15 days you get automatic judgement without ever needing to attend court. I have found that large organisations often are incapable of responding in that time frame and then find it easier to settle rather than fight the judgement. However, if L were to file a defence in time I would rate your chances of success as rather poor because of the difficulty over the T&Cs and several other matters. The Court can award their costs if it finds in their favour. Also, only the first person to try this is likely to succeed (because they don't know what to do with the Court papers and miss the deadline) and it is possible that someone has already done it and they are now prepared. Well, looking at the latest updates on the Glous loans, it’s taken LY exactly 712 days to tells us that they’ve “arranged a conference call” so the chances of them being able to file a defence within 15 days would seem quite slim. Having said that, I’m quite sure they move a lot faster when it’s their money at stake than when it’s ours. i do hope that the people saying these loans will soon be repaid in full are correct, but as is my rule with LY, I’ll only believe it when I see it.
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averageguy
Member of DD Central
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Post by averageguy on Aug 28, 2018 11:04:36 GMT
It is nearly always possible in almost any situation to go to Court. Using Moneyclaim (the on-line version of the Small Claims Court) may not be a bad idea as the Court Fee is quite low (depends on the amount of the claim) and if the defendant does not file a defence in 15 days you get automatic judgement without ever needing to attend court. I have found that large organisations often are incapable of responding in that time frame and then find it easier to settle rather than fight the judgement. However, if L were to file a defence in time I would rate your chances of success as rather poor because of the difficulty over the T&Cs and several other matters. The Court can award their costs if it finds in their favour. Also, only the first person to try this is likely to succeed (because they don't know what to do with the Court papers and miss the deadline) and it is possible that someone has already done it and they are now prepared. Well, looking at the latest updates on the Glous loans, it’s taken LY exactly 712 days to tells us that they’ve “arranged a conference call” so the chances of them being able to file a defence within 15 days would seem quite slim. Having said that, I’m quite sure they move a lot faster when it’s their money at stake than when it’s ours. i do hope that the people saying these loans will soon be repaid in full are correct, but as is my rule with LY, I’ll only believe it when I see it. Can I add to that last bit by saying ‘’ I only believe it when I see it and withdrawn it’’
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izigor
Member of DD Central
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Post by izigor on Aug 29, 2018 20:38:02 GMT
Well, looking at the latest updates on the Glous loans, it’s taken LY exactly 712 days to tells us that they’ve “arranged a conference call” so the chances of them being able to file a defence within 15 days would seem quite slim. Having said that, I’m quite sure they move a lot faster when it’s their money at stake than when it’s ours. i do hope that the people saying these loans will soon be repaid in full are correct, but as is my rule with LY, I’ll only believe it when I see it. Can I add to that last bit by saying ‘’ I only believe it when I see it and withdrawn it’’ Sorry to be pedantic, but I think you'll have to withdraw it first before you can 'see' it. Whatever 'it' is (yes I'm assuming you are talking about the money .. but you never know .. may be you just want to pee)  So good luck on seeing 'it' .. mr averageguy. Yours, Big Guy.  (Yes, I'm bored)
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Monetus
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Post by Monetus on Aug 31, 2018 9:04:08 GMT
"We hope to have further clarification on the same, and indiciative timeframes to financial completion, in the next platform update."
Who's ready? 
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averageguy
Member of DD Central
Posts: 1,188
Likes: 895
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Post by averageguy on Aug 31, 2018 9:08:44 GMT
"We hope to have further clarification on the same, and indiciative timeframes to financial completion, in the next platform update."
Who's ready? Just saw a pig fly by (more chance).
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Post by GSV3MIaC on Aug 31, 2018 14:59:52 GMT
"We hope to have further clarification on the same, and indiciative timeframes to financial completion, in the next platform update."
Who's ready?
Ah yes, 'Hope', one of those four letter words that we have yet to put in the censorator ...
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averageguy
Member of DD Central
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Post by averageguy on Aug 31, 2018 19:07:58 GMT
So they now are going for September.......hmmm
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Post by buttchopf23 on Aug 31, 2018 20:16:37 GMT
So they now are going for September.......hmmm Early September, lol
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izigor
Member of DD Central
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Post by izigor on Sept 1, 2018 7:39:34 GMT
So they now are going for September.......hmmm Early September, lol Which decade though?
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Post by buttchopf23 on Sept 1, 2018 8:22:37 GMT
2018 as in the update lol.
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TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
Likes: 190
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Post by TheDriver on Sept 2, 2018 17:56:46 GMT
"We hope to have further clarification on the same, and indiciative timeframes to financial completion, in the next platform update."
Who's ready? Alternatively, now that platform updates are monthly, I read that as "we might have some more information by the end of the month (September) so that we might suggest the possibility of some progress in October". But that's probably because I'm an optimist!
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averageguy
Member of DD Central
Posts: 1,188
Likes: 895
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Post by averageguy on Sept 3, 2018 8:47:08 GMT
"We hope to have further clarification on the same, and indiciative timeframes to financial completion, in the next platform update."
Who's ready? Alternatively, now that platform updates are monthly, I read that as "we might have some more information by the end of the month (September) so that we might suggest the possibility of some progress in October". But that's probably because I'm an optimist! I must have missed the change...when did they go from fortnightly to monthly?
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Post by ladywhitenap on Sept 3, 2018 9:20:46 GMT
You should have just had the last fortnightly one. Monthly from now on.
LW
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GeorgeT
Member of DD Central
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Post by GeorgeT on Sept 3, 2018 18:01:41 GMT
You should have just had the last fortnightly one. Monthly from now on. LW All being well, there shouldn't need to be any further update on this one. The last update was clear - "this is now likely to complete early September 2018".
I took that to mean this week - after all, next week is Mon 10th to Fri 14th Sept which is more mid September than early September. Early Sept should mean a completion by the end of this week and then a full repayment to investors shortly afterwards. Although the size of the settlement deal struck with the borrower and hence the size of LY's contribution to the repayment are the big unknowns.
Keeping my fingers crossed that LY can deliver on this. This Devonian pair are my last 2 LY loans and I'm desperate to escape the clutches of LY for good.
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averageguy
Member of DD Central
Posts: 1,188
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Post by averageguy on Sept 3, 2018 21:10:53 GMT
You should have just had the last fortnightly one. Monthly from now on. LW All being well, there shouldn't need to be any further update on this one. The last update was clear - "this is now likely to complete early September 2018".
I took that to mean this week - after all, next week is Mon 10th to Fri 14th Sept which is more mid September than early September. Early Sept should mean a completion by the end of this week and then a full repayment to investors shortly afterwards. Although the size of the settlement deal struck with the borrower and hence the size of LY's contribution to the repayment are the big unknowns.
Keeping my fingers crossed that LY can deliver on this. This Devonian pair are my last 2 LY loans and I'm desperate to escape the clutches of LY for good.
Slight flaw ...you are applying logic to a Lendy loan
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(Yes, I'm bored)
