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Post by p2plender on Feb 26, 2019 17:34:28 GMT
"Every day goes by I wonder how much their "external recovery and legal team" are taking from our security in fees. The vultures have landed to strip the meat and we might get a few bones."
But this is being construed as positive, there's even a thread to rejoice at Lendy's new shafting service....
A double shafting, bend over and take it.
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averageguy
Member of DD Central
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Post by averageguy on Mar 1, 2019 21:31:38 GMT
Well we have an update...waffle waffle....so LENDY ..how much is the offer!!!
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Mucho P2P
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Post by Mucho P2P on Mar 1, 2019 23:15:07 GMT
Well we have an update...waffle waffle....so LENDY .. how much is the offer!!! " how much is the offer " <---- If they tell you, it will compromise their legal position!! <<<-- Me being as non-sarcastic as possible!!
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Post by nyquest on Mar 3, 2019 15:47:16 GMT
Whatever it is, it's not worth contacting us. If it was we'd know about it. Think of a number half it then from the remainder take 75% & you'll be almost there.
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Post by princekie on Mar 3, 2019 15:58:51 GMT
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jomantha
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Post by jomantha on Mar 6, 2019 16:37:44 GMT
Interesting stuff from administrator on companies house predicting a shortfall and showing fees. (in DD)
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Monetus
Member of DD Central
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Post by Monetus on Apr 4, 2019 13:15:52 GMT
Units for this development are now being advertised again with an estimated completion date of Q4 2019.
Interestingly they appear to be promoted by the agents of the original borrower.
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Post by loftankerman on Apr 4, 2019 15:27:15 GMT
I was lucky to quite arbitrarily sell my loan parts in this only days before it turned sour. I have felt quite sorry for the people who'd put deposits on the apartments, as I had thought it looked quite an attractive place to live. The implications have been that the purchasers lost everything. Does anyone know if they retained their rights over the the apartments they'd put money into, or are the new prospective owners another bunch of lambs risking being fleeced?
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Post by Please turn me over on Apr 4, 2019 16:21:56 GMT
I was lucky to quite arbitrarily sell my loan parts in this only days before it turned sour. I have felt quite sorry for the people who'd put deposits on the apartments, as I had thought it looked quite an attractive place to live. The implications have been that the purchasers lost everything. Does anyone know if they retained their rights over the the apartments they'd put money into, or are the new prospective owners another bunch of lambs risking being fleeced? Steady on! 
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locutus
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Post by locutus on Apr 8, 2019 12:30:31 GMT
According to the purple place, it looks like a sale is about to complete and it seems that the original borrower might benefit from this via connected parties. I hope that full repayment of capital + interest + bonus is due otherwise this will be an incredibly inept negotiation and outcome for lenders and leave Lendy wide open to legal action. I'm a lender and have let Lendy know that anything less than full repayment will not be acceptable.
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averageguy
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Post by averageguy on Apr 8, 2019 13:21:57 GMT
I’d take just capital if it meant that interest went to those people who have lost their deposit money
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locutus
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Post by locutus on Apr 8, 2019 13:24:44 GMT
I’d take just capital if it meant that interest went to those people who have lost their deposit money Then you shouldn't be lending money at all. They can have my sympathies but not my money. Both parties are victims of PS and neither should lose out. If losses do crystallise, they should do so in the contractually stated priority as those are the terms I agreed to.
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mary
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Post by mary on Apr 8, 2019 13:27:59 GMT
I’d take just capital if it meant that interest went to those people who have lost their deposit money Except that there’s £10m of those deposits “missing”, which may have been used to benefit the former directors, indirectly. Therefore it is completely unacceptable for those same people to benefit (however indirectly, allegedly) if any creditor is to lose anything!
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averageguy
Member of DD Central
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Post by averageguy on Apr 8, 2019 13:37:35 GMT
Well we all have our views ...I’ve expressed mine and you’ve expressed yours ..it’s not as if mine is going to happen ...shrug
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Post by picanto on Apr 8, 2019 15:23:02 GMT
I'm a lender and have let Lendy know that anything less than full repayment will not be acceptable. Personally I'd bite Lendy's hand off if they recovered just the capital. I'm currently expecting a significant loss since I invested a significant sum in this property based on the information I was given that progress on the development was good. Any payment of accrued interest and I'd have a party!
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