|
|
Post by billy169 on Oct 30, 2019 19:02:32 GMT
More proof then that LENDY liked default loans far more than we did.
|
|
Monetus
Member of DD Central
Posts: 1,179 
Likes: 2,961
|
Post by Monetus on Oct 30, 2019 19:28:05 GMT
More proof then that LENDY liked default loans far more than we did. The entire Lendy business model under these terms demonstrated a fundamental conflict of interest between platform and investors in my opinion. Why would Lendy want borrowers to repay loans early when they were incentivised and able to levy obscenely high rates of penalty/default interest, all safe in the knowledge they would be at the front of the queue for payment? How many loans did we receive updates on which were “close to refinance” only to suddenly fall through at the last minute and then right back to square one?
|
|
|
|
Post by brightspark on Oct 30, 2019 19:53:22 GMT
Moral bankruptcy and a large dash of greed? Ideal City high flyers?
|
|
|
|
Post by billy169 on Oct 30, 2019 20:25:28 GMT
So we weren't miss sold on separate items..the whole platform was designed to be one big miss sell,,or deception...hmmm.
|
|
pam72
New Member
Posts: 2
Likes: 1
|
Post by pam72 on Oct 30, 2019 20:50:56 GMT
More proof then that LENDY liked default loans far more than we did. The entire Lendy business model under these terms demonstrated a fundamental conflict of interest between platform and investors in my opinion. Why would Lendy want borrowers to repay loans early when they were incentivised and able to levy obscenely high rates of penalty/default interest, all safe in the knowledge they would be at the front of the queue for payment? How many loans did we receive updates on which were “close to refinance” only to suddenly fall through at the last minute and then right back to square one?
|
|
pam72
New Member
Posts: 2
Likes: 1
|
Post by pam72 on Oct 30, 2019 20:52:54 GMT
My bank details have changed since the administrators have taken control of the company - my partners bank details have also changed. Can anyone give me any info on this please. Thanks in ad ance
|
|
Mucho P2P
Member of DD Central
Posts: 946
Likes: 1,635
|
Post by Mucho P2P on Oct 30, 2019 21:09:33 GMT
My bank details have changed since the administrators have taken control of the company - my partners bank details have also changed. Can anyone give me any info on this please. Thanks in ad ance They will most likely have removed bank details that were not supported by your certified documents, or are not registered to you by checks at the credit agencies.
|
|
rocky1
Member of DD Central
Posts: 1,139
Likes: 1,963
|
Post by rocky1 on Oct 31, 2019 5:17:15 GMT
lendy group ltd.accounts overdue. 1 charge outstanding of course in favour of mr LB himself.tweaking the T@Cs and shifting stuff around knowing it was collapsing around him and making sure he grabbed as much as he could.now looking like he will walk away with another few mill by the time this mess is sorted out.T@Cs or not it is wrong that he should come before lenders in these loans that were left month after month for what it seems like his nice little bonus off all these loans.changing the T@Cs as and when for his own financial gain the FCA and the FOS should get the barstad in and tell him it is not happening and that he is going to be investigated for every deal/strokehe has pulled over the past few years. sorry members rant over had a sh*t night again.
|
|
|
|
Post by p2plender on Oct 31, 2019 9:26:20 GMT
My bank details have changed since the administrators have taken control of the company - my partners bank details have also changed. Can anyone give me any info on this please. Thanks in ad ance You'll probably pass the 'random' AML checks then. It's only if your details have stayed the same, (same bank account, address etc) which will flag up an anomaly with the powers that be who are now in charge..
|
|
mikeh
Member of DD Central
Posts: 499
Likes: 370
|
Post by mikeh on Oct 31, 2019 9:44:02 GMT
My bank details have changed since the administrators have taken control of the company - my partners bank details have also changed. Can anyone give me any info on this please. Thanks in ad ance There was an email some time ago telling lenders to make sure their primary bank account was correct. Other bank accounts seem to have been removed.
|
|
|
|
Post by queenvictoria on Oct 31, 2019 9:55:45 GMT
My bank details have changed since the administrators have taken control of the company - my partners bank details have also changed. Can anyone give me any info on this please. Thanks in ad ance My son's bank account has also changed. I looked on the Lendy site for him and it say: You can update your bank account on your platform account by following the link below or sending a copy of a new bank statement featuring the new details and a copy of your photo ID (either a valid Driving License or Passport to support@lendy.co.uk
Bank Account platform link: lendy.co.uk/account/bank-accountThe link didn't help so he has sent new account info together with a bank statement and ID to the support email address
|
|
sl75
Posts: 2,092
Likes: 1,245
|
Post by sl75 on Oct 31, 2019 10:01:01 GMT
My bank details have changed since the administrators have taken control of the company - my partners bank details have also changed. Can anyone give me any info on this please. Thanks in ad ance The previous mechanism still seems to be present on the website. "My Account" => "Bank Account" => "Add a new bank account"
It seems likely to me that any newly added bank account would also need to be verified.
|
|
|
|
Post by brightspark on Oct 31, 2019 16:23:57 GMT
Well before reaching any firm conclusion I have done the obvious thing and sent an e-mail to the Administrators asking them to detail why my 100% investment has provided a recompense of 45.5%. The non-disclosure agreement prevents creditor committee representatives from divulging any information. My money has been lost and I want to know where it has gone and why.
|
|
Monetus
Member of DD Central
Posts: 1,179
Likes: 2,961
|
Post by Monetus on Oct 31, 2019 16:39:03 GMT
Well before reaching any firm conclusion I have done the obvious thing and sent an e-mail to the Administrators asking them to detail why my 100% investment has provided a recompense of 45.5%. The non-disclosure agreement prevents creditor committee representatives from divulging any information. My money has been lost and I want to know where it has gone and why. LAG/the Committee are currently pushing RSM/Shoosmiths for exactly the same thing and we'll be meeting both at the next Creditors Committee meeting on November 22nd. Not sure how much information I can share but I can assure you that this issue and the payment waterfall as a whole are 100% at the top of our priority list.
|
|
toffeeboy
Member of DD Central
Posts: 538
Likes: 385
|
Post by toffeeboy on Oct 31, 2019 17:20:14 GMT
Well before reaching any firm conclusion I have done the obvious thing and sent an e-mail to the Administrators asking them to detail why my 100% investment has provided a recompense of 45.5%. The non-disclosure agreement prevents creditor committee representatives from divulging any information. My money has been lost and I want to know where it has gone and why. LAG/the Committee are currently pushing RSM/Shoosmiths for exactly the same thing and we'll be meeting both at the next Creditors Committee meeting on November 22nd. Not sure how much information I can share but I can assure you that this issue and the payment waterfall as a whole are 100% at the top of our priority list. So there is/might be some reason/law why you can not tell me why I am not being repaid more of my own money even though the money was received and it is going to someone else who shall remain unknown to me. I would love to know what law anyone is going to quote for that one.
If the usual "it might effect future recoveries" is used then it is a joke because we are asking about money already returned.
|
|
