ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 19, 2018 17:41:49 GMT
juliana just send them a support form asking them to call you or PM one of the Pauls.
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TenKay
Member of DD Central
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Post by TenKay on Jul 19, 2018 17:48:17 GMT
i guess this has been posted before, but makes you wonder how hard it is to get full FCA approval
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invester
P2P Blogger
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Post by invester on Jul 19, 2018 18:27:50 GMT
What about Google Reviews? They can only be commented on, not taken down I think. Anyone googling Lendy will see these first rather than the TP reviews. I think this is correct - but there are only a few reviews on there (average score 1.9) It's pretty obvious what will happen if people start posting reviews on there as well, we'll get some suspicious 5-star reviews left with such guff like 'great sign up experience'. Facebook have reviews as well (average score 3.1). Wouldn't surprise me if they abandoned social media altogether, what is the point for them? Perhaps if people start bombing the Cowes week Twitter they might be forced off that as well, as no doubt sponsors will read that (and I don't think they can delete replies).
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NSFW
Posts: 118
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Post by NSFW on Jul 19, 2018 18:32:16 GMT
i guess this has been posted before, but makes you wonder how hard it is to get full FCA approval
Well, it took long enough and Lendy had to make lots of changes. Doesn't mean the changes were right or the FCA know what's best when it comes to P2P finance. Edit: Actually, it appears the changes Lendy had to make have reduced our profits and increased their own, or at least left them intact, depending on whether you believe there's a scam going on behind the scenes. We used to get monthly interest payments no matter what but now they cease and we get these dodgy offers.
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juliana
New Member
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Post by juliana on Jul 19, 2018 18:37:11 GMT
juliana just send them a support form asking them to call you or PM one of the Pauls. Thanks but tried this but just received standard reply - don't feel they really want to discuss anything.
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Post by loftankerman on Jul 19, 2018 19:58:51 GMT
There's so many holes in this it really is unbelievable. If we get the press involved, publicising that a funder is willing to Lend at least £11m, it will be bound to go for more than that at auction. Could we ask The Telegraph to look at this. Since they ran their first article saying Lendy was a disaster waiting to happen..... things have gotten a whole lot worse. Since I still have a lot of money stuck in Lendy I’m reluctant to purposely invoke any bad publicity on them. I haven’t even left a negative Trust Pilot review yet, but once I get what money I can out, I’m going to leave the Mother of all negative TP reviews for these shysters. My gut feel told me this was coming around April 2017 and I'm really thankful to be mostly out. I have about £4K left in DFLs 005 and 004 and I can live with that, however they pan out. You say that you are reluctant to purposely invoke bad publicity on Lendy while you have money stuck in loans. The implication of that is that once you are out okay, it will be a case of 'Blow you Jack, I'm alright!' to those still in. That raises the question as to why anyone who has just left or is only marginally in, shouldn't get on with raining down devastation on Lendy now, regardless of your present position. As for your Mother of all negative TP reviews... How long do you think that will stay up? I have taken to making a screen capture of them as soon as I see them as they are invariably gone next time I look.
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zlb
Member of DD Central
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Post by zlb on Jul 19, 2018 21:18:12 GMT
Their advising the option where (it reads as such) the borrower retains the property, suggests that they want to keep the borrower 'on board' for future business...? In fact, are they permitted to advise?
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Post by p2plender on Jul 20, 2018 0:35:03 GMT
The fact that Lendy won't come on here and speak to their investors, yet are all over TP trying to get negative reviews pulled shows their only hope of survival is to bring in new investors. It's so embarrassing Lendy, man up and get on here and tell your investors why you feel the need to treat them in this way with ths disingenuous DFL04 vote. Edit: After reading a few updates last night, especially Liverpool, Wolves looks like a gold carriage clock in comparison. What an absolute mess Lendy. Enough of us muppets warned you nearly 18 months ago when you started flooding the platform with new loans. One word, GREED. p2pindependentforum.com/thread/8387/saving-stream-illiquid-monster
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Post by douganole on Jul 20, 2018 14:07:12 GMT
First time poster but long time lurker here. Re FCA authorisation, Aren't Lendy now subject to FCA Principles? The applicable rules 1.4 FCA Under the Principles (Note (2)), providers and distributors of products and services have various responsibilities that have an impact on customers. Detailed rules within the FCA Handbook further specify what these responsibilities are in certain defined circumstances. 1.5 FCA The Principles apply to all authorised firms. This Guide looks particularly to the following Principles (Note (3)): Principle 2 ('A firm must conduct its business with due skill, care and diligence'); Principle 3 ('A firm must take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems'); Principle 6 ('A firm must pay due regard to the interests of its customers and treat them fairly'); and Principle 7 ('A firm must pay due regard to the information needs of its clients, and communicate information to them in a way which is clear, fair and not misleading'). They seem to be belatedly getting to grips with 2 and 3, but haven't yet realised that 6 and 7 need addressing. Should we be raising this with the FCA do you think? I contacted the FCA and they have responded very quickly and here's what they have to say; "Thanks for completing the contact form on our website regarding Lendy Ltd. I understand Lendy Ltd have provided investors two options for a peer 2 peer loan, were the borrower as defaulted on their loan. You’d like to find out if the firm if needs to comply with our high level principles including Principle Six and Principle Seven for investors under this peer 2 peer agreement. The activity of operating a Peer 2 Peer platform in the UK is an regulated activity which falls inside our remit. I can see from the register entry for Lendy Ltd, they hold the operating an electronic system in relation to lending permission from us. You can view their register entry by clicking on the highlighted link. This means Lendy Ltd would need to comply with our the rules and regulations as outlined in The Financial Services Handbook, including Principle six and Principle Seven. However, as the regulator we have to remain impartial and I’m therefore unable to make comment on whether Lendy Ltd have complied with out high level principles including Principle Six and Principle Seven. Your next steps If you’re not satisfied with the service provided by Lendy Ltd, you can use the Complaints Procedure including The Financial Ombudsman Service. Further information regarding the Complaints Procedure can be located on our website by clicking on the highlighted link. As the regulator we’re unable to investigate consumer’s individual complaints or disputes with an authorised firm, as we do not hold complaint resolution powers. These powers are held by The Financial Ombudsman Service. You may wish to seek you own legal advice regarding your legal position in relation to your investor agreement with Lendy Ltd. I hope this information has been useful. Yours sincerely " I have replied "Just one other thing Andrew, I appreciate that you cannot comment specifically but I hope that I have given you sufficient information to flag that there might be issues worth investigating at Lendy. For a feeling of just how angry and misled many lenders feel, you might like to look at some of the comments made on the P2P forum p2pindependentforum.com/board/58/lendyI leave it in your hands Kind regards" I don't expect that an army of investigators will descend on Lendy this afternoon, but I do trust the FCA to get around to taking a good look at what goes on at Lendy at some stage, albeit too late to help us poor suckers with our immediate issues.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jul 20, 2018 14:59:14 GMT
Well done douganole.
With many more Complaints it will be a small, gathering snowball rolling down the hill and becoming a massive avalanche.
IF The FCA bothers to do its job.
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NSFW
Posts: 118
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Post by NSFW on Jul 20, 2018 15:38:59 GMT
Well done douganole. With many more Complaints it will be a small, gathering snowball rolling down the hill and becoming a massive avalanche. IF The FCA bothers to do its job. I think they said it's not their job. The dodgy grammar was disappointing also.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,161
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Post by ozboy on Jul 20, 2018 16:01:24 GMT
I think you're right NSFW, but if they get enough Complaints I would think they have to act?
Otherwise they're left with their panties down as being incompetent.
Heaven forbid.
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TenKay
Member of DD Central
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Post by TenKay on Jul 20, 2018 16:09:07 GMT
has the time to vote been extended ? i thought it closed today
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Post by spareapennyor2 on Jul 20, 2018 16:18:50 GMT
has the time to vote been extended ? i thought it closed today should be 18.00 hrs
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TenKay
Member of DD Central
Posts: 144
Likes: 117
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Post by TenKay on Jul 20, 2018 16:36:41 GMT
has the time to vote been extended ? i thought it closed today should be 18.00 hrs 5 days left
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