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Post by GSV3MIaC on Apr 23, 2019 18:33:21 GMT
They also invented IA status, and stopped paying interest on behalf of the borrowers (thus hiding issues).
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sussexlender
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Post by sussexlender on Apr 24, 2019 18:20:00 GMT
Hello to the all new improved Lendy recoveries experts.
What is the latest on this obvious shambles of a loan? What have you actually been doing to get our cash back from this tardy and impecunious borrower?
Have you been to see the borrower in his rented container office suite in the grounds of Atl** Hou**, Canterbury or are you simply too afraid to visit because the reality of this mess will slap you in the face ? None of the other projects boasted about on his out of date website appear to have started. Where is he putting the interest that he is avoiding evading paying to us ?
Have you actually issued a formal demand for repayment or told him you will now take immediate action against him?
Seasoned former SS and now Lendy investors have heard all this rubbish from this borrowers and your admin team for over 112 months (and on many of your other failed loans). We can all see there is no development project underway; he clearly does not have any financial backers and you are very unlikely to have any real buyers lined up. If you did you would foreclose now and sell asap.
Many will now think that the contempt being shown to investors by this borrower and by your dysfunctional operation is blatant. Many of us can see that you have permitted this set of wide boys walk all over you. What have they got over Lendy that makes them immune from enforcement proceedings?
This loan is the most obvious example of crass management and your total failure to carry out due diligence to protect investors. With luck the FCA will soon check this loan out and then the real situation can be made public.
Get on with enforcement of this debt. Investors do not want another summer of bulls*** excuses from this hopeless borrower and his sham development company. They have not submitted accounts to CH and no doubt a winding up petition will once again be surfacing soon.
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sussexlender
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Post by sussexlender on May 7, 2019 11:22:54 GMT
From the endless reasons for failure to repay / take action up date 10.01.2019 "The borrower is now confident that all matters will be finalised before the end of January 2019 enabling repayment of the loan."
Was this just an unfortunate misunderstanding by the experts at Lendy of what they were told during one of their January telephone chats or just a blatant lie by the borrower?
Has anyone had the inclination to pay a visit to this borrower in his container office suite in Canterbury?
This fiasco is not going to go away.
Instead of spending lots of time setting up a new pay day loan venture get to grips with the mess you have allowed to develop in the current one. Close this sham loan down.
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69m
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Post by 69m on May 10, 2019 13:16:00 GMT
No mention of the July 2018 / Christmas 2018 / April 2019 refinance in the latest update.
If that's now off the table, Lendy needs to stop messing about. Take possession of the security property immediately and get it sold. Giving the borrower almost a year to sort out a JV / refinance (on what was an already seriously defaulted loan) was more than generous.
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Monetus
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Post by Monetus on May 10, 2019 13:24:26 GMT
Yes interesting to see there is no mention of the refinance option at all in the latest update.
The issue with refinancing after such a long time is that often the numbers just don't make sense anymore for prospective lenders once you factor in the years of accrued interest/penalty interest/fees etc.
This can make it bordering on the impossible for borrowers to find anyone that they can potentially refinance too.
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sussexlender
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Post by sussexlender on May 10, 2019 19:33:57 GMT
This borrower clearly does not have any financial backer or JV capital. Many may think he has been exposed as a total chancer with no expertise or ability of developing this site, or paying us back.
Lendy will simply let this go on for ever and have failed to investigate what this borrower has done with the cash we injected into his bank account.
Have they ever demanded disclosure of the amount actually paid to the "seller" (whoever that may have been) for this waste land ?
The borrowers and his co directors have done nothing to warrant any more time being given to this absurd loan. The lame excuses and delaying tactics are blatantly obvious. They bhave failed to file company account once again.
The May "update" is utterly pointless. There is no new information or progress to report - as usual with this shambles calling itself a P2P platform.
Mr Brooks has clearly abandoned the Lendy ship and is now spending all his time on the new pay day company - whilst shafting all the previously loyal Lenders in Saving Stream / Lendy.
The only winners / friends of Lendy are now the defaulting "non performing" Borrowers who have nothing to fear from this comatose and highly dysfunctional P2P platform.
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Godanubis
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Post by Godanubis on May 10, 2019 19:48:52 GMT
This borrower clearly does not have any financial backer or JV capital. Many may think he has been exposed as a total chancer with no expertise or ability of developing this site, or paying us back. Lendy will simply let this go on for ever and have failed to investigate what this borrower has done with the cash we injected into his bank account. Have they ever demanded disclosure of the amount actually paid to the "seller" (whoever that may have been) for this waste land ? The borrowers and his co directors have done nothing to warrant any more time being given to this absurd loan. The lame excuses and delaying tactics are blatantly obvious. They bhave failed to file company account once again. The May "update" is utterly pointless. There is no new information or progress to report - as usual with this shambles calling itself a P2P platform. Mr Brooks has clearly abandoned the Lendy ship and is now spending all his time on the new pay day company - whilst shafting all the previously loyal Lenders in Saving Stream / Lendy. The only winners / friends of Lendy are now the defaulting "non performing" Borrowers who have nothing to fear from this comatose and highly dysfunctional P2P platform. Somwetimes Lendy build out a project if it is viable.
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sarahcount
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Post by sarahcount on May 10, 2019 19:55:14 GMT
Somwetimes Lendy build out a project if it is viable. Sometimes as in this has never happened. And certainly won't here.
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Godanubis
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Post by Godanubis on May 10, 2019 20:01:43 GMT
Somwetimes Lendy build out a project if it is viable. Sometimes as in this has never happened. And certainly won't here. It has happened. The don't payback till the end they take it over and interest still accrues. I have at least on on the books
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sarahcount
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Post by sarahcount on May 10, 2019 20:04:46 GMT
Sometimes as in this has never happened. And certainly won't here. It has happened. The don't payback till the end they take it over and interest still accrues. I have at least on on the books What one would that be?
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Godanubis
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Post by Godanubis on May 10, 2019 20:11:59 GMT
It has happened. The don't payback till the end they take it over and interest still accrues. I have at least on on the books What one would that be? Just trying to find it in my account it was a good bit back it may have compleated. It definately was there LOL Perhaps some nice person can remember. However as you say it is as rare as straight answer to a question in politics 
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Post by martin44 on May 10, 2019 20:12:52 GMT
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Godanubis
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Post by Godanubis on May 10, 2019 20:17:26 GMT
Perhaps they have one of Jeremy Corbin's Money Trees  They seem to available to bail the country out and Nationalize everything.
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ilmoro
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Post by ilmoro on May 10, 2019 20:31:53 GMT
Sometimes as in this has never happened. And certainly won't here. It has happened. The don't payback till the end they take it over and interest still accrues. I have at least on on the books I assume you mean the big house (less of build out than a rebuild)? That went well.
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sussexlender
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Post by sussexlender on May 11, 2019 10:17:50 GMT
Back to the subject matter of this thread.
Lendy have never expressed any intentions of building out this site.
The update of 01.03.2019 states " As such we have commenced discussions with a number of parties who are interested in potentially purchasing the site."
They have provided no further information after 2 months. It is also total nonsense as Lendy are not in a position to sell this site as they have not taken any action to take possession of it. That it the problem - they have failed to do anything.
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They seem to available to bail the country out and Nationalize everything. 