invester
P2P Blogger
Posts: 612
Likes: 618
|
Post by invester on Oct 16, 2018 13:23:36 GMT
Can't quite get what has happened here, and my suspicions are that Lendy are being played like a fiddle. No doubt the borrower will know the poor state of the loan book.
Lendy on behalf of the borrowers had said they were not interested in a settlement, and yet we have delayed another month for what - to negotiate a settlement. It seems a massive u-turn on what has gone on before.
I think going on previous cases, the most likely case is that nothing will happen. Lendy will be desperate to close out a massive loan like this and will be susceptible to 'jam tomorrow' games from borrowers.
|
|
|
Post by balloonthief on Oct 16, 2018 13:26:41 GMT
I've been a fairly vocal detractor of Lendy in the past on these very forums. Instead of just getting increasingly frustrated and posting the same stuff over and over again I decided to do something proactive. I signed up for an "Investor Surgery" where someone from Lendy ran through the loans I was invested in and gave me more detailed updates on things. I found it quite insightful and it's something that I'd suggest would be beneficial for a lot of people on the forum who have issues with Lendy's communication (I certainly did). If anyone here would like to know more about what's going on with their portfolio then I'd recommend that you consider signing up for the next round. I can second this.
|
|
averageguy
Member of DD Central
Posts: 1,174
Likes: 855
|
Post by averageguy on Oct 16, 2018 14:19:20 GMT
If Lendy have received a more suitable offer from the borrower then that would definitely be preferable to a long administration process and is worth exploring. What he said. This grudgeful echo-chamber is a waste of all your time. Continually posting the same view that you think Lendy are awful wastes the time of those of us who check out new posts on this forum to see if anyone has some actual information or useful insight to share. You have a fair point ..but I would say that a simple update on Friday (again considering the size of the loan) isn’t too much to ask and is pretty basic communication. Hopefully the next four weeks will be fruitful, if not I presume it’s back to court
|
|
dovap
Member of DD Central
Posts: 467
Likes: 410
|
Post by dovap on Oct 16, 2018 14:51:57 GMT
I've been a fairly vocal detractor of Lendy in the past on these very forums. Instead of just getting increasingly frustrated and posting the same stuff over and over again I decided to do something proactive. I signed up for an "Investor Surgery" where someone from Lendy ran through the loans I was invested in and gave me more detailed updates on things. I found it quite insightful and it's something that I'd suggest would be beneficial for a lot of people on the forum who have issues with Lendy's communication (I certainly did). If anyone here would like to know more about what's going on with their portfolio then I'd recommend that you consider signing up for the next round. Shame they can't just provide clear, accurate and concise information for everyone rather than the need for 'sugary chat' If only they had a website or summat to provide such information on meh Presume the secret snippets are provided on a hush hush basis just in case it unleases a series of catastrophic events etc etc Ho hum - somewhat more interested in actual results rather than waffle but each to their own
|
|
Monetus
Member of DD Central
Posts: 1,179
Likes: 2,961
|
Post by Monetus on Oct 16, 2018 15:16:47 GMT
Shame they can't just provide clear, accurate and concise information for everyone rather than the need for 'sugary chat' If only they had a website or summat to provide such information on meh Presume the secret snippets are provided on a hush hush basis just in case it unleases a series of catastrophic events etc etc Ho hum - somewhat more interested in actual results rather than waffle but each to their own There are countless reasons why Lendy don't provide full details of sensitive matters in a public setting - not least because it exposes their bargaining position directly to borrowers who will then inevitably try and "cut a deal". Instead of presuming, why not find out for yourself what the secret snippets contain?
|
|
dovap
Member of DD Central
Posts: 467
Likes: 410
|
Post by dovap on Oct 16, 2018 15:40:11 GMT
Shame they can't just provide clear, accurate and concise information for everyone rather than the need for 'sugary chat' If only they had a website or summat to provide such information on meh Presume the secret snippets are provided on a hush hush basis just in case it unleases a series of catastrophic events etc etc Ho hum - somewhat more interested in actual results rather than waffle but each to their own There are countless reasons why Lendy don't provide full details of sensitive matters in a public setting - not least because it exposes their bargaining position directly to borrowers who will then inevitably try and "cut a deal". Instead of presuming, why not find out for yourself what the secret snippets contain? ah countless reasons - and yet a borrowers 'friend' could be party to the same secret snippets equally easily so it's a bit of nonsense really isn't it potentially handy though if offloading saleable loans prior to the ignorant masses getting their non-sensitive updates
|
|
elliotn
Member of DD Central
Posts: 3,064
Likes: 2,681
|
Post by elliotn on Oct 16, 2018 15:50:55 GMT
We showed a firm hand by rejecting the previous offer. We aren't prepared to grab whatever and run. We need to remain strong and stand together for the best offer. It's not only investors on the forum. Lenders ran a mile and those that voted overwhelmingly chose the settlement option.
|
|
michaelc
Member of DD Central
Posts: 5,429
Likes: 2,895
Member is Online
|
Post by michaelc on Oct 16, 2018 15:51:33 GMT
I'm inclined to agree with dovap on this on the basis that they prefer to engage with us individually because when done like that, there is a power imbalance. When held in the open, the collective knowledge can be brought to bare and points raised by L can be properly aired and scrutinised.
|
|
trevor
Member of DD Central
Posts: 557
Likes: 380
|
Post by trevor on Oct 16, 2018 16:50:13 GMT
Given the current level of new loans of zilch, the current loan book is being run down by L themselves!
|
|
victors
Member of DD Central
Posts: 157
Likes: 86
|
Post by victors on Oct 23, 2018 14:59:27 GMT
New loan on AC which makes reference to this development.
|
|
rs
Member of DD Central
Posts: 467
Likes: 254
|
Post by rs on Oct 23, 2018 15:18:00 GMT
New loan on AC which makes reference to this development. Why bother giving people hope that this loan is going to end up good!
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Oct 23, 2018 15:29:36 GMT
New loan on AC which makes reference to this development. Are you referencing the valuation 'comparator' for the upcoming AC Loan #847, or did you mean something else more positive?
|
|
victors
Member of DD Central
Posts: 157
Likes: 86
|
Post by victors on Oct 23, 2018 15:41:59 GMT
I was just referencing #847 and the fact that it saw this loan as a direct competitor to be aware of.
Didn't mean to imply AC were refinancing this loan.
|
|
averageguy
Member of DD Central
Posts: 1,174
Likes: 855
|
Post by averageguy on Nov 12, 2018 19:44:21 GMT
So Lendy....did todays hearing go ahead?
|
|
|
Post by p2plender on Nov 12, 2018 22:49:06 GMT
My betting the next b/s will start 'Unfortunately'....
|
|