ptr120
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Post by ptr120 on May 7, 2019 16:19:03 GMT
Is Lendy in breach of 9.4 of its T&C which states that "All repayments and any interest received that is due to you will be paid to your Lendy lender account monthly in arrears."? Yes.
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trevor
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Post by trevor on May 7, 2019 17:35:47 GMT
I'm extremely concerned now.
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rrrupert
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Post by rrrupert on May 7, 2019 17:52:35 GMT
They updated the website with the message that interest and updates now anticipated by Thursday 9th May
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mary
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Post by mary on May 7, 2019 17:53:34 GMT
I'm extremely concerned now. Latest update on the site claims the banking backlog will take until end of Thursday 9th to clear. Seems an unlikely diversionary claim. It’s not that hard to process a few withdrawals. The lack of interest being credited is very telling as this will create a spike in further withdrawals. I expect their bank account is empty and they are hoping that the money (~£8m) from the sale of DFL012 (due imminently) will buy them a little extra time? Obviously, this is mostly our money! If it’s not paid out immediately, then it’s certainly the end!
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Monetus
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Post by Monetus on May 7, 2019 18:04:20 GMT
I'm extremely concerned now. Latest update on the site claims the banking backlog will take until end of Thursday 9th to clear. Seems an unlikely diversionary claim. I fear you may be right. Sadly I have yet to see any evidence of anyone actually having funds credited/withdrawn from this "backlog" of transactions which Lendy are working through.... The question is... why are they seemingly trying to buy time?
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mary
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Post by mary on May 7, 2019 18:06:55 GMT
And, inexplicably, the banking issue seems to also have delayed any updates to the 9th.
Clearly, nothing positive to say, but it takes a lot longer to come up with yet another different way of saying ... we’ve done nothing, and nothing has progressed.
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Mucho P2P
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Post by Mucho P2P on May 7, 2019 18:37:05 GMT
Latest update on the site claims the banking backlog will take until end of Thursday 9th to clear. Seems an unlikely diversionary claim. I fear you may be right. Sadly I have yet to see any evidence of anyone actually having funds credited/withdrawn from this "backlog" of transactions which Lendy are working through.... The question is... why are they seemingly trying to buy time? " why are they seemingly trying to buy time" <- you nailed it on the head Monetus.
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on May 7, 2019 19:48:29 GMT
I haven’t got my 30p yet.  |
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invester
P2P Blogger
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Post by invester on May 7, 2019 20:08:07 GMT
My guess is that they are begging the FCA every day and can't do anything without it.
Feck the loans, the whole platform needs a portal so people know what is going on.
Sadly it looks like game over imminently, I can't really imagine why the FCA would ever relax the restriction now. That would be a green light for them to make off with what is left.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on May 7, 2019 21:05:11 GMT
Lendy must be a VERY strange place for staff to have to work in at the moment.
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Post by Ace on May 7, 2019 21:13:02 GMT
Lendy must be a VERY strange place for staff to have to work in at the moment. It might well be, if anyone ever does!
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Post by supernumerary on May 9, 2019 8:36:43 GMT
Steady as she goes good ship Ly. No weekend sailing on a school day. Water ski in if you have to. Our hopes are invested in you and all who sail in her. The 1st of the month is the day I don't post any glass-half-empty doom and gloom, no whinging about rubbish updates, no worrying about being stuck with crappy looking loans that I can't shift. The 1st of the month is the day to worship SS and give thanks to the platform Will today, be the day, that the 'interest rate payment run' for the April 2019 loan payments be made?  They updated the website with the message that interest and updates now anticipated by Thursday 9th May …and all being well, fingers crossed, the April interest may be paid today. 
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Post by Deleted on May 9, 2019 12:32:10 GMT
Right now they are offering "ASAP" as a solution.
I used to sack employees who came up with answers like that.
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mh
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Post by mh on May 9, 2019 12:34:53 GMT
I don't think April's interest will now be credited before tomorrow. Once they've missed the usual payout run of 9am, it means they can hold off transferring any real money to our bank accounts until Monday morning.
But then, of course, why shouldn't Lendy hold out for another week ... fortnight ... month ...
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warn
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Post by warn on May 9, 2019 13:06:55 GMT
But then, of course, why shouldn't Lendy hold out for another week ... fortnight ... month ... Given the amount I expect to receive on my not inconsiderable investment, it'll make no difference at all to me how long they take. Might have to sell one of the kids soon.
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