Jeepers
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Post by Jeepers on Jun 10, 2018 12:35:20 GMT
Council would never step in private projects, better not held hope up. Ly said “maximise return”, not recovery. Seems Ly still think it is in the “return” territory, purely my speculation. Lendy use the words “maximise return” on most of their loans that are in big trouble. What I read it to mean is “you’re probably not going to get all of your invested capital back but we’ll do our best to get you back as much as we can”. At this stage in the proceedings the borrower has defaulted the loan and is holding all the cards. I’m quite sure any settlement offer is significantly below the loan amount. The borrower will be calling Lendy’s bluff, in the knowledge he has a position of strength, that the word on the street is that Lendy is a soft touch and that most investors are so desperate to exit that if put to the vote the majority would vote to accept capital loses. I wouldnt say the borrower is in a position of strength. He's provided a PG. Lendy could completely clean him out of every penny he's got if he wants to start playing silly buggers.
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tx
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Post by tx on Jun 10, 2018 20:52:20 GMT
Lendy use the words “maximise return” on most of their loans that are in big trouble. What I read it to mean is “you’re probably not going to get all of your invested capital back but we’ll do our best to get you back as much as we can”. At this stage in the proceedings the borrower has defaulted the loan and is holding all the cards. I’m quite sure any settlement offer is significantly below the loan amount. The borrower will be calling Lendy’s bluff, in the knowledge he has a position of strength, that the word on the street is that Lendy is a soft touch and that most investors are so desperate to exit that if put to the vote the majority would vote to accept capital loses. I wouldnt say the borrower is in a position of strength. He's provided a PG. Lendy could completely clean him out of every penny he's got if he wants to start playing silly buggers. Did you mean Ly in pos of strength?
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Post by charliebrown on Jun 11, 2018 11:47:35 GMT
Lendy use the words “maximise return” on most of their loans that are in big trouble. What I read it to mean is “you’re probably not going to get all of your invested capital back but we’ll do our best to get you back as much as we can”. At this stage in the proceedings the borrower has defaulted the loan and is holding all the cards. I’m quite sure any settlement offer is significantly below the loan amount. The borrower will be calling Lendy’s bluff, in the knowledge he has a position of strength, that the word on the street is that Lendy is a soft touch and that most investors are so desperate to exit that if put to the vote the majority would vote to accept capital loses. I wouldnt say the borrower is in a position of strength. He's provided a PG. Lendy could completely clean him out of every penny he's got if he wants to start playing silly buggers. I am not an expert in debt recovery but I was led to believe and have seen it said by other more knowledgeable members that a PG is not worth the paper it’s written on. All saleable assets in some other family member’s name etc. That’s why we still see many bankrupts living in mansions and driving Ferraris. I do hope that’s wrong.
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hazellend
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Post by hazellend on Jun 11, 2018 12:17:40 GMT
I wouldnt say the borrower is in a position of strength. He's provided a PG. Lendy could completely clean him out of every penny he's got if he wants to start playing silly buggers. I am not an expert in debt recovery but I was led to believe and have seen it said by other more knowledgeable members that a PG is not worth the paper it’s written on. All saleable assets in some other family member’s name etc. That’s why we still see many bankrupts living in mansions and driving Ferraris. I do hope that’s wrong. PGs are indeed worthless if there are no assets to claim against. If there are assets then I suppose it would work. Any sensible director would transfer assets to a trusted spouse. I don’t know what they do if they don’t have a souse or children though.
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Jeepers
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Post by Jeepers on Jun 11, 2018 12:21:55 GMT
I'm no expert but I'm pretty sure it's not as simple as just transferring assets and they're immediately protected. They need to have been owned by the spouse for a while.
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Post by loftankerman on Jun 11, 2018 12:28:49 GMT
I'm no expert but I'm pretty sure it's not as simple as just transferring assets and they're immediately protected. They need to have been owned by the spouse for a while. Would the day after drawdown be long enough?
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Post by charliebrown on Jun 11, 2018 12:46:39 GMT
I’m pretty sure these big Developers know how to play the game and wouldn’t leave themselves exposed.
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Jeepers
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Post by Jeepers on Jun 14, 2018 10:36:05 GMT
Update from Last week: 'The new valuation from an independent RICS registered valuer is expected to be received this week, an offer of settlement has been received'
Has it come in yet then? Will we get an update this week ?
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Post by p2plender on Jun 14, 2018 11:23:40 GMT
Can't they update throughout the week or are they too busy dreaming up excuses?
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averageguy
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Post by averageguy on Jun 14, 2018 11:24:05 GMT
Update from Last week: 'The new valuation from an independent RICS registered valuer is expected to be received this week, an offer of settlement has been received' Has it come in yet then? Will we get an update this week ? I’d be very surprised
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xpubman1
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Post by xpubman1 on Jun 14, 2018 12:09:40 GMT
Why not give them a break and let them get on with it, I am sure as soon they have the valuation and have studied the offer we will hear about it.please stop being so impatient.....
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Jeepers
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Post by Jeepers on Jun 14, 2018 13:27:07 GMT
It takes less than 5 minutes to write an update.
This is the biggest loan on the platform so it's not to much to ask to keep us updated when there is something as significant as an offer of settlement.
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Post by loftankerman on Jun 14, 2018 14:10:54 GMT
Why not give them a break and let them get on with it, I am sure as soon they have the valuation and have studied the offer we will hear about it.please stop being so impatient..... Patience is a game lengthening approach as it conveys an upfront acceptance of a lack of urgency. You needn't be too worried for Lendy staff though, this isn't a hot line to Lendy Towers and posts like the one you are reprimanding jeepers for will not be giving the staff ulcers. They'll be getting on with whatever the current state of corporate desperation dictates whether it involves ulcers or not.
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baldpate
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Post by baldpate on Jun 14, 2018 19:35:38 GMT
... This is the biggest loan on the platform ... Well - one of the biggest - if you want the biggest, take a look at DFL019.
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Post by charliebrown on Jun 14, 2018 23:25:44 GMT
... This is the biggest loan on the platform ... Well - one of the biggest - if you want the biggest, take a look at DFL019. I think jeepers means the biggest default, DFL 019 hasn’t defaulted yet.
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