sussexlender
Member of DD Central
Cheat seeking missile
Posts: 550 
Likes: 916
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Post by sussexlender on Jan 25, 2019 15:04:23 GMT
I bet this months excuse from the Borrower will be to blame the Venezuelan crisis.
We all know that nothing is going to have taken place and there is no JV capital here or from anywhere else. It is a blatant stalling tactic.
If it existed then the borrower would pay this off as fast as possible to stop the extra interest mounting up - not that he or his At*** P***** G**** have any intention of ever paying that to investors.
Kill this loan now Lendy and get on with a sale.
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Post by picanto on Jan 25, 2019 15:30:58 GMT
What I can't get my head around is why does nobody from Lendy go and meet the borrower face to face and visit the site themselves? This loan is well in default and has been for some time, so it must be on Lendy's priority list to recover the funds. If the land is derelict and nothing happening on site like has been said previously, then surely somebody from Lendy can go and see that for themselves and then report back to Lendy HQ to take over the land from the borrower instead of just letting it drag on for months without any progress. If anything at least that will show Lendy being proactive in recovering lenders money rather than just sitting in their offices and only having short phonecalls with the borrower who can make up anything just to keep Lendy off his/her back.
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Post by loftankerman on Jan 25, 2019 16:13:42 GMT
What I can't get my head around is why does nobody from Lendy go and meet the borrower face to face and visit the site themselves? This loan is well in default and has been for some time, so it must be on Lendy's priority list to recover the funds. If the land is derelict and nothing happening on site like has been said previously, then surely somebody from Lendy can go and see that for themselves and then report back to Lendy HQ to take over the land from the borrower instead of just letting it drag on for months without any progress. If anything at least that will show Lendy being proactive in recovering lenders money rather than just sitting in their offices and only having short phonecalls with the borrower who can make up anything just to keep Lendy off his/her back. I suppose it might be possible that taking the dynamic action you propose could expose buried DD issues that any platform would prefer to distance themselves from, making a feeble approach more palatable to the corporate mind.
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Post by charliebrown on Jan 26, 2019 1:03:06 GMT
Lendy are sat on a mountain of defaults that are not going to end well for Lenders. Lendy knows this better than anyone but has so far refused to take the bull by the horns. There’s only one way to deal with trouble and that’s head on. We’d have a lot more respect for them if they at least tried to get us some of our money back. 10% return is better than nothing. In the case of this particular loan there’s no way the borrower is ever going to repay capital plus interest on this. I suspect there’s some major issue with the security but it isn’t going to go away so let’s just get on and deal with it. Lendy, enough is enough, default this loan and sell this piece of wasteland for whatever you can get for it.
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Post by GSV3MIaC on Jan 26, 2019 16:07:34 GMT
/mod hat off ..
... and then go after the borrower, the valuer(s), and anyone else who might have a few quid and might be in the frame for mitigating the losses ..
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neal
Member of DD Central
Posts: 87
Likes: 55
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Post by neal on Jan 30, 2019 15:54:34 GMT
I'm so excited I just know I won't be able to sleep tonight, for tomorrow this loan will be paid off and we'll be getting all that lovely interest too.
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sussexlender
Member of DD Central
Cheat seeking missile
Posts: 550
Likes: 916
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Post by sussexlender on Jan 30, 2019 20:15:31 GMT
Lendy. Time is finally up for these borrowers.
Investors will not accept any more obvious lies excuses from this inept borrower.
Every promise they have made has been utterly discredited.
Tell them to settle the debt in full by the end of tomorrow or send in the LPA administrators.
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sl75
Posts: 2,092
Likes: 1,245
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Post by sl75 on Jan 31, 2019 12:47:23 GMT
I'm so excited I just know I won't be able to sleep tonight, for tomorrow this loan will be paid off and we'll be getting all that lovely interest too. It seems to me that today all we're expecting is for all matters to be finalised to enable repayment of the loan ... how long actually repaying the loan takes after that seems an entirely separate matter!
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neal
Member of DD Central
Posts: 87
Likes: 55
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Post by neal on Jan 31, 2019 12:59:57 GMT
I'm so excited I just know I won't be able to sleep tonight, for tomorrow this loan will be paid off and we'll be getting all that lovely interest too. It seems to me that today all we're expecting is for all matters to be finalised to enable repayment of the loan ... how long actually repaying the loan takes after that seems an entirely separate matter! "The borrower is now confident that all matters will be finalised before the end of January 2019 enabling repayment of the loan." My interpretation was the everything would be in place before the end of January 2019, therefore, the loan would also be repaid before the end of January 2019. As you know, everything finalized meaning the money would be in the bank ready to be sent. We will know in a few hours, I have faith in Lendy!!!
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pi
Member of DD Central
Posts: 57
Likes: 28
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Post by pi on Jan 31, 2019 14:15:22 GMT
I wish I could share your enthusiasm.
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Post by captainconfident on Jan 31, 2019 14:49:50 GMT
Hi, I'm a scout for the Positive Thread team. We've had a lot of sendings off and lifetime bans over there, and your sunny disposition towards Lendy would mean you would fit right in. Practically all positions are vacant. I'm sure you will feel just the same way tomorrow....
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Post by GSV3MIaC on Jan 31, 2019 15:27:13 GMT
I'm struggling to decide where to award the 'tongue in cheek', sarcasm, and 'taking the Michael' medals today. On the whole perhaps we should just award all of them to the platform instead?
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neal
Member of DD Central
Posts: 87
Likes: 55
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Post by neal on Jan 31, 2019 16:52:27 GMT
I'm struggling to decide where to award the 'tongue in cheek', sarcasm, and 'taking the Michael' medals today. On the whole perhaps we should just award all of them to the platform instead? I for one think Lendy would mismanage said awards. I don't think we should give them anything else of value. I'll certainly be looking forward to dragging my PBL103 funds and interest out very shortly. What time does the office close for the weekend?
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invester
P2P Blogger
Posts: 612
Likes: 618
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Post by invester on Jan 31, 2019 17:14:10 GMT
Very much doubt anything will happen here while they can string this out... they have too much on their plate.
Is anyone really expecting anything different from the 'refinance imminent... sorry we meant administration!' stunt that is pulled on so many of their loans?
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neal
Member of DD Central
Posts: 87
Likes: 55
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Post by neal on Feb 1, 2019 11:07:13 GMT
 I'm so disappointed, I really thought the Enhanced Recoveries Team would be able to make some progress and actually recover a loan in the first months. Maybe my first thought was correct when I first saw the word Enhanced and they are the same old team just with a nice boobjob paid for by my unpaid interest.
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I'm so disappointed, I really thought the Enhanced Recoveries Team would be able to make some progress and actually recover a loan in the first months. Maybe my first thought was correct when I first saw the word Enhanced and they are the same old team just with a nice boobjob paid for by my unpaid interest.