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Post by picanto on Dec 15, 2018 12:19:03 GMT
FPS, used to be once a day, once they’d had their morning coffee. They must have missed the coffee yesterday as I made a withdrawal request just after 10am, expecting it within 2 hours, did not arrive. No worries should come by the end of the day, did not arrive. OK, maybe it will come on Saturday morning, nope hasn't arrived.  Slightly concerned, but will wait until Monday morning before going into full panic mode.  I'm pretty sure withdrawals arrive in your bank account the next working day after the withdrawal had been made. If you withdrew yesterday (Friday) the earliest you should expect it would be Monday. Someone correct me if I'm wrong on this though.
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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 Dec 15, 2018 12:19:26 GMT
The interest column is total earnt for the lifetime of the loan. If you had £3500 invested you are hardly going to get £700 interest for less than 3 months.
£3476.77*12%/365*76 = £86.87 interest + ££44.50 bonus = £3608.14 repayment. So I'd say your payment is right as there is usually a day missing
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star dust
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Post by star dust on Dec 15, 2018 12:30:43 GMT
They must have missed the coffee yesterday as I made a withdrawal request just after 10am, expecting it within 2 hours, did not arrive. No worries should come by the end of the day, did not arrive. OK, maybe it will come on Saturday morning, nope hasn't arrived. Slightly concerned, but will wait until Monday morning before going into full panic mode. I'm pretty sure withdrawals arrive in your bank account the next working day after the withdrawal had been made. If you withdrew yesterday (Friday) the earliest you should expect it would be Monday. Someone correct me if I'm wrong on this though. In my experience if you make a withdrawal request before 8:00 a.m on a working day you will receive the funds that day. If you make one after 8:00 a.m on a working day or anytime on a weekend you will receive the repayment the next working day. Very occasionally you might get lucky with a withdrawal request between 8-9:am on a weekday but that really would be down to the chance of a slightly late start to their withdrawal run process.
I made a withdrawal request on Thursday evening and it was in my bank on Friday.
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elliotn
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Post by elliotn on Dec 15, 2018 15:21:54 GMT
FPS, used to be once a day, once they’d had their morning coffee. They must have missed the coffee yesterday as I made a withdrawal request just after 10am, expecting it within 2 hours, did not arrive. No worries should come by the end of the day, did not arrive. OK, maybe it will come on Saturday morning, nope hasn't arrived. Slightly concerned, but will wait until Monday morning before going into full panic mode. Definitely do before 9am, I’ve seen quite a bit earlier too, only once a day. Edit - x’d with stardust, earlier the better as they say (y)
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Post by df on Dec 15, 2018 16:44:02 GMT
How long do Lendy take for withdrawals to hit your bank account? Do they use faster payments or 3 working days? Probably depending on time of the day I make a withdrawal, I normally get money in my bank on the same or next working day. If I make withdrawal on Friday it arrives on the following Monday.
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michaelc
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Say No To T.D.S.
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Post by michaelc on Dec 15, 2018 18:08:59 GMT
I made a withdrawal request on Thursday evening and it was in my bank on Friday.
Same here.
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withnell
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Post by withnell on Dec 18, 2018 11:04:22 GMT
I'd love to make a withdrawal, but despite a fancy email telling me the loan has repaid I have yet to see funds for DFL035...
Happy to hear that more details will follow, but that should be with a framework concept established, eg partial recovery, structured repayment etc, not just a generic comment that treats investors like they wouldn't understand!
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Post by mrclondon on Dec 18, 2018 17:20:07 GMT
Hmm.
Capital shortfall on DFL035 recovery following negotiated settlement with the borrower to be made up from the provision fund (well sort of).
Repayment to lenders in early Jan will be capital outstanding less interest received during loan term.
What ??
EDIT: Looks like investments made in DFL035 since DFL008 repaid last week are to be returned in full (before January seems to be implied)
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SteveT
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Post by SteveT on Dec 18, 2018 17:26:53 GMT
Presumably arrived at as the lowest cost (to the PF) way of maintaining that “no lender has ever lost a penny”!
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Carter
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Post by Carter on Dec 18, 2018 17:30:58 GMT
Did Ly give up their slice I wonder.
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sl75
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Post by sl75 on Dec 18, 2018 18:01:01 GMT
Presumably arrived at as the lowest cost (to the PF) way of maintaining that “no lender has ever lost a penny”! Either lots of lenders will be losing pennies, or they'll be treating different lenders inequitably.
I'll consider 4 lenders, each of whom invested £100 in a hypothetical loan being treated the same way.
Alice invested at the start, received (say) £3 of interest, and then sold her loan part to Bob. Carol invested at the start, and is still holding her loan part. Dave invested in a later tranche at the same time as Alice sold her loan part to Bob.
Bob, Carol, and Dave each hold £100 of the same loan, and would expect to be treated equitably.
Carol has received £3 more interest than Bob or Dave.
For sake of argument, assume that another £5 of interest was received per loan part AFTER Bob and Dave invested.
In total between them, that makes £21 of interest that has been received on the loan... (£3 each to Alice and Carol during the first period, then £5 each to Bob, Carol and Dave during the second period)
£300 - £21 = £279, which is £93 per £100 loan part.
If divided equitably between current loan part holders, that means Bob and Dave lose £2 each (£5 interest received minus £7 capital loss), whilst Carol made £1 (£8 interest received minus £7 capital loss) and Alice made £3 before selling her loan part.
If divided inequitably, it's unclear what basis would be used instead, or how the T&Cs and relevant regulations would allow for it.
Edit: ... and of course we also need to consider the position of those investors who were buying loan parts as late as last week, just before the loan was suspended, and have never had the opportunity to receive any interest on the loan - either they'll be looking at a substantial capital loss, or I want all my money back too!
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Post by Badly Drawn Stickman on Dec 18, 2018 21:13:58 GMT
Hmm.
Capital shortfall on DFL035 recovery following negotiated settlement with the borrower to be made up from the provision fund (well sort of).
Repayment to lenders in early Jan will be capital outstanding less interest received during loan term.
What ??
EDIT: Looks like investments made in DFL035 since DFL008 repaid last week are to be returned in full (before January seems to be implied)
Regarding your edit I would suggest they repay that as soon as possible, it was patently a mistake to allow a basically defaulted loan to appear on the SM however briefly. I was halfway through an 'irate' (by my standards) complaint when the second email arrived.
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mickj
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Post by mickj on Dec 18, 2018 22:48:23 GMT
So, did only those in 035 get emails, I am not (how did I manage that?) and no email or site update that I can see.
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withnell
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Post by withnell on Dec 19, 2018 9:27:56 GMT
So, did only those in 035 get emails, I am not (how did I manage that?) and no email or site update that I can see. Yes was targeted to people who hold the loan
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adrianc
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Post by adrianc on Dec 19, 2018 9:31:45 GMT
Hmm.
Capital shortfall on DFL035 recovery following negotiated settlement with the borrower... And that's why I didn't touch the second charge loan.
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