Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011 
Likes: 1,013
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Post by Godanubis on Feb 13, 2019 23:16:56 GMT
So it finally happened, Lendy had to admit that they don't know how to deal with defaulting "successful developers". And guess what, they are now being strung along by the "external advisers" who they've brought in to dig them out of their mess. You've got it, due diligence is not exactly Lendy's strong point. No doubt these highly skilled (aren't they just worth their fees) professionals told Lendy they would be well on the way to resolving the mess within a week. So guess what, Lendy accepted what they were told without question and passed the bull on to us. After all that's what Lendy are good at. And guess what, no doubt the professionals are now telling them that it will take a bit longer to sort things out, and, by the way, cost quite a bit more as well. Not that Lendy are planning to pay out of their own hard earned cash of course, but as always, when things begin to veer away from plan Lendy just don't know what to do or what to say. Client management and communications are also not exactly Lendy's strong points. You never know though, if there is anything left after this extra layer of worthies take their cut we just might get some (sort of) good news in the weeks or months to come. Then again, pigs might fly. Probably all ex estate agents that tell you they can get 20% more than any other agent if you go with them. 2 weeks later market conditions have changed and surprise their valuations plummet.
Scotland still requires independant home report so not such variations in values.
Performance related payments only no win no fee.
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sussexlender
Member of DD Central
Cheat seeking missile
Posts: 550
Likes: 916
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Post by sussexlender on Feb 18, 2019 13:06:49 GMT
Time is up Lendy
We are now over half way through February.
Come clean and tell us what you are now going to do about the obvious scam being committed on loyal Lendy investors by this Borrower and his highly questionable so called JV company.
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Post by charliebrown on Feb 19, 2019 11:46:32 GMT
Time is up Lendy We are now over half way through February. Come clean and tell us what you are now going to do about the obvious scam being committed on loyal Lendy investors by this Borrower and his highly questionable so called JV company. I’ll tell you what they’re going to do.... absolutely nothing, the same as they’ve done on all the other scams and defaults. Unfortunately, when you do the same thing you get the same results.
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Monetus
Member of DD Central
Posts: 1,179
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Post by Monetus on Feb 25, 2019 16:45:10 GMT
The borrower is expecting to fully repay the loan in....
July
August
September
4-8 weeks
Before Xmas
January
February
Any bets on March?
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Post by captainconfident on Feb 25, 2019 19:12:15 GMT
The borrower is expecting to fully repay the loan in.... July
August
September
4-8 weeks
Before Xmas
January
February Any bets on March? Mate, I think you're confusing it with the Meaningful Vote on Brexit.
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sussexlender
Member of DD Central
Cheat seeking missile
Posts: 550
Likes: 916
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Post by sussexlender on Feb 25, 2019 20:21:35 GMT
Just as we all knew would be the case, only 3 working days to go before the end of February and no news or progress on this suspect borrower.
What happened to the "almost daily" cosy telephone chats with this suspect borrower ? Has the borrower's solicitor gone out of business so they don't answer the phone?
Once again the Lendy management has failed to deliver on their smoke and mirrors promise to give us details of the progress being achieved by their vastly experienced "new" recoveries team.
We all know this was going to turn out to be a false promise by Lendy.
This borrower has displayed total contempt for all investors and probably sitting off shore laughing at us all. It is still unclear from whom this bit of waste land was purchased using Lendy investors cash. Some might wonder if it will turn out to have been another shell company run by this scamartist borrower with the cash being used for another purpose altogether.
This loan is the clearest example of the utter incompetence of Lendy to manage a loan.
It has become an acute embarrassment to have ever invested in this woefully inadequate and failing P2P platform.
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sussexlender
Member of DD Central
Cheat seeking missile
Posts: 550
Likes: 916
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Post by sussexlender on Feb 26, 2019 20:25:45 GMT
The accounts for this evasive borrower and his company (see Lendy DD for full details) the At** Par***** G**** *** are overdue from 05.02.19.
The boastful APG Ltd website has disappeared to be replaced with the following message:-
" This site is not secure ; This might mean that someone’s trying to fool you or steal any info you send to the server. You should close this site immediately".
Care to enlighten us Liam ? Have they pulled their cosy daily telephone chats due to the telephone being cut off ?
Who are you trying to fool with your new "so busy / hard at work" recoveries team? We have heard nothing at all from them, and all we have had from Lendy is the insulting cut and paste update on almost every single loan.
Seems as if this borrower has now managed to evade you. Default this loan now and get rid of this obvious sham borrower.
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Post by p2plender on Feb 27, 2019 0:39:29 GMT
Where is Captain Brookes these days after his groveling "we're going to blah blah blah" apology to investors? Brylcream and dodgy double breasted blazer time soon for Cowes is it not? Maybe Lendy might sail a lifeboat in the regatta this year...  The updates since the apology have been pretty bleak to say the least. |
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Post by charliebrown on Feb 27, 2019 10:45:01 GMT
Where is Captain Brookes these days after his groveling "we're going to blah blah blah" apology to investors? Brylcream and dodgy double breasted blazer time soon for Cowes is it not? Maybe Lendy might sail a lifeboat in the regatta this year... The updates since the apology have been pretty bleak to say the least. The titanic, more like. Brookes has already launched the lifeboat under the cover of darkness. This is one Captain that has no intention of going down with his ship.
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Monetus
Member of DD Central
Posts: 1,179
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Post by Monetus on Mar 1, 2019 10:07:13 GMT
"The borrower is still moving forward with the proposed refinance, however this has now been delayed until April 2019. As such we have commenced discussions with a number of parties who are interested in potentially purchasing the site."  |
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Carter
Member of DD Central
Posts: 250
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Post by Carter on Mar 1, 2019 11:23:25 GMT
sussexlender, as I missed out on the mince pies can we have double or quits on Easter eggs? 🐣🐣🐣
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69m
Member of DD Central
Posts: 122
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Post by 69m on Mar 1, 2019 14:23:12 GMT
I can only imagine how the latest telephone conversation went...
Lendy Enhanced Recoveries Team: "Hello, this is your daily call from Lendy to find out how the refinance and joint venture are progressing." Borrower: "Who?"
LERT: "Liam's lot - you know, the land near Hastings."
Borrower: "Oh right. Er, yeah, we're going to have to leave that until April."
LERT: "Okay, thanks for the update! Shall I speak to you again tomorrow?"
Borrower: "No."
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neal
Member of DD Central
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Post by neal on Mar 1, 2019 14:25:41 GMT
"The borrower is still moving forward with the proposed refinance, however this has now been delayed until April 2019. As such we have commenced discussions with a number of parties who are interested in potentially purchasing the site."Tha That means May then, at the earliest.
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Monetus
Member of DD Central
Posts: 1,179
Likes: 2,961
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Post by Monetus on Mar 1, 2019 14:50:44 GMT
July
August
September
4-8 weeks
Before Xmas
January
February
March
April
It's a shame Lendy and their enhanced recovery/communications team couldn't tell us the reasons why the refinance was delayed? I guess we just don't need to know.
It's funny how often these "close" refinances seem to completely fall apart and Lendy suddenly start speaking with people interested in purchasing the site. Shades of DFL001/DFL002
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Post by munchydave on Mar 1, 2019 15:02:44 GMT
JulyAugustSeptember4-8 weeks
Before Xmas
JanuaryFebruary
MarchAprilIt's a shame Lendy and their enhanced recovery/communications team couldn't tell us the reasons why the refinance was delayed considering this loan was very close to repayment last July. It's funny how often these "close" refinances seem to completely fall apart and Lendy suddenly start speaking with people interested in purchasing the site. Shades of DFL001/DFL002 By now it must be obvious to all that any updates from Lendy are just works of fiction. Not just Lendy but on numerous other sites the same rubbish is being posted as to when the loans will repay. I for one am out of P2P lending. I am well diversed in many sites and have been for some years and the simple fact is that I would have done better in a savings account paying 1.5%. My final return will be NEGATIVE though it is impossible to give a figure untill all the loans are in the end defaulted or repaid.
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