averageguy
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Post by averageguy on May 10, 2019 11:31:11 GMT
So they’ve had offers for dfl002 ...below loan value....and ‘’number of factors to consider potential recovery of shortfall’’
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adrianc
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Post by adrianc on May 10, 2019 11:35:32 GMT
Not such a big deal. See the photograph on Frank, Zappa 2/5/19. That's it?
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sarahcount
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Post by sarahcount on May 10, 2019 19:20:57 GMT
So they’ve had offers for dfl002 ...below loan value....and ‘’number of factors to consider potential recovery of shortfall’’ Like how it's Lendy that's got to make up the difference themselves.
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Godanubis
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Post by Godanubis on May 10, 2019 19:46:22 GMT
So they’ve had offers for dfl002 ...below loan value....and ‘’number of factors to consider potential recovery of shortfall’’ Like how it's Lendy that's got to make up the difference themselves. Sadly they don't 
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sarahcount
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Post by sarahcount on May 10, 2019 19:53:47 GMT
Like how it's Lendy that's got to make up the difference themselves. Sadly they don't Old T&Cs apply to this loan. We lent the money to Lendy.
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Godanubis
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Post by Godanubis on May 10, 2019 19:59:12 GMT
Sadly they don't Old T&Cs apply to this loan. We lent the money to Lendy. Think even then it was discretionary. I think they ran out of funds the last time the wangled the "nobody has lost capital" Payout
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ptr120
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Post by ptr120 on May 10, 2019 21:00:45 GMT
Old T&Cs apply to this loan. We lent the money to Lendy. Think even then it was discretionary. I think they ran out of funds the last time the wangled the "nobody has lost capital" Payout The provision fund is discretionary. The fact that this loan is on the old terms and conditions (and therefore we lent to Lendy) isn't.
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sarahcount
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Post by sarahcount on May 10, 2019 21:16:03 GMT
Old T&Cs apply to this loan. We lent the money to Lendy. So have you taken any legal action to get your money back? I speak from experience when I say if they can avoid paying, they will. I'm not a large enough investor to be running around commencing my own legal action - although having said that I've got more stuck in Exeter 1 and 2 than any of the other loans. I've also been a bit resistant to proposals for legal action that might take a platform down. Ideally I'd rather see Lendy buck their ideas up and get some positive resolutions. For sure it's better to have the FCA all over them than it is to have administrators running the show at the rates that they charge. I don't doubt that Lendy will find ways to avoid paying out. I just wanted to remind them in public once again that really they should be liable to us for any shortfall.
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registerme
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Post by registerme on May 11, 2019 2:29:59 GMT
Everything is safe as houses. Lendy owes us direct on this one  . |
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littleoldlady
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Post by littleoldlady on May 11, 2019 6:56:39 GMT
IIRC the old T&C do imply that we lent the money to Lendy, but they also say that they don't have to repay us until they are repaid by the borrower, with no cut off date. So it's like a zero coupon undated government bond.
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nsinvestor
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Post by nsinvestor on May 13, 2019 10:01:25 GMT
IIRC the old T&C do imply that we lent the money to Lendy, but they also say that they don't have to repay us until they are repaid by the borrower, with no cut off date. So it's like a zero coupon undated government bond. Ah, the good old perpetuals. They eventually disappeared when lots of very angry Japanese FRN investors put enough pressure on the big institutions around reputational risk. Bit like the PIBS issued by the Building societies.. I think they disappeared when the regulators couldn't value them and assign a capital weighting
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littleoldlady
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Post by littleoldlady on Jun 23, 2022 14:58:57 GMT
Did anyone receive a payout from the receivers? If so what date?
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tombraider
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Post by tombraider on Jun 23, 2022 15:10:12 GMT
Did anyone receive a payout from the receivers? If so what date? I thought that distributions were on hold after the court hearing in august of last year until a protocol had been agreed. Still no agreement I guess...
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TitoPuente
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Post by TitoPuente on Jun 23, 2022 15:12:46 GMT
Did anyone receive a payout from the receivers? If so what date? DFL001 is a model 1 loan (i.e. not P2P). As of today, all recoveries go to Lendy as Lendy was the lender.
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littleoldlady
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Post by littleoldlady on Jun 23, 2022 16:32:48 GMT
Did anyone receive a payout from the receivers? If so what date? DFL001 is a model 1 loan (i.e. not P2P). As of today, all recoveries go to Lendy as Lendy was the lender. Thanks. So the cash initially goes to Lendy's administrators and I suppose is then paid to Lendy's creditors in the standard order of priority. Where do we fit into the queue?
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