seeingred
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Post by seeingred on Apr 2, 2017 19:43:46 GMT
EXPLANATION:
Unfortunately, due to an administration error linked to the new website launch, March's interest was credited at a flat 12%pa across all loan parts. This has now been corrected but will result in some investors receiving less interest than stated on Saturday for loan parts that should be paying less than 12%pa.
Please accept our apologies for any inconvenience caused.
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Post by barberbookie on Apr 2, 2017 19:43:49 GMT
Old Ebenezer Scrooge will have a late night tonight adjusting all of these accounts.
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guff
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Post by guff on Apr 2, 2017 19:44:21 GMT
An email apology just received from Lendy but nothing about the need to resolve any negative balances. "Administration error"... my arse. 
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TitoPuente
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Post by TitoPuente on Apr 2, 2017 19:48:15 GMT
I am an SS advocate, but this is a bit of a shambles, I have to admit.
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vmail
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Post by vmail on Apr 2, 2017 19:50:40 GMT
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oldgrumpy
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Post by oldgrumpy on Apr 2, 2017 19:51:01 GMT
An email apology just received from Lendy but nothing about the need to resolve any negative balances. "Administration error"... my arse. Cool it Guffy. Have a banana ... or a brandy.  They're not allowed to say "Sorry guys, we cocked up. Wot a bunch of prats". Might "offend" somebody. (Thinks ... hope I haven't offended Guff).
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averageguy
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Post by averageguy on Apr 2, 2017 19:52:19 GMT
My account now showing a negative balance...well the interests been spent so they can deduct it off next months
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Post by saver on Apr 2, 2017 19:52:55 GMT
With all the problems this company are having recently, non receipt of deposits, "ghost" prefunding, lowering of interest rates, long withdrawal times, and now accounting problems, they are becoming a bit of a joke. My account, although very small is showing a negative balance which I certainly won't be correcting anytime shortly.
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GeorgeT
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Post by GeorgeT on Apr 2, 2017 19:53:27 GMT
Attention to detail has never been a strong point with Lendy.
However that a mess up like this can occur with other people's money is quite worrying and smacks of downright incompetence and carelessness. It also suggests to me that the people in charge do not have very good skills at customer relations and running a business. If you make a mistake like this that means people's balances in financial accounts will change then surely anybody with even an ounce of professionalism would first of all write to the customers affected to explain what has happened and not just go in and take money out of people's accounts without any prior explanation. This might have caused some considerable worry and concern to thousands of people this afternoon.
I expect Paul is chewing away at his pencil trying to work out how to spin this one.
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twoheads
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Post by twoheads on Apr 2, 2017 19:53:43 GMT
Email just in from Lendy with apology. Looks like they have been following this thread. It might have been a good idea to warn people that they would be 'losing' some interest before they actually made the correction rather than afterwards.
Furthermore, as I stated earlier, it is rather odd to retrospectively adjust customers account statements - many of which have already been downloaded and archived. I would have expected one or more new 'correctional' transactions, correctly time-stamped sometime this evening.
I have no idea of the rules the FCA would apply to a scenario like this but I would expect that publishing customers' transactions for their perusal and then later amending them to change published figures would not be allowed. It's not much different to the regular changes we were used to seeing in already published loan updates.
savingstream , You've really made monkeys of yourselves with this cock up.
EDIT - Crossed with the last dozen or so posts!
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vmail
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Post by vmail on Apr 2, 2017 20:01:59 GMT
The extra interest payments was an April Fools joke.
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seeingred
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Post by seeingred on Apr 2, 2017 20:03:21 GMT
"Unfortunately, due to an administration error linked to the new website launch,"
Excuse me, but the part of the website dealing with accounting has surely not been recoded?
All that has happened is to change some headers and add the borrowers part?
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fp
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Post by fp on Apr 2, 2017 20:04:00 GMT
i'm surprised to see so many people who are so unhappy with a product, yet they continue to use it
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twoheads
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Post by twoheads on Apr 2, 2017 20:04:23 GMT
The extra interest payments was an April Fools joke. I have to agree... but if the mods let those stars through I'll **** myself!
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dawn
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Post by dawn on Apr 2, 2017 20:05:54 GMT
Just checked PBL163 - I hold £400 at 10% (since 8th March) so interest should have been £2.63 - they paid me £316 which equates exactly to 12%. Looks like it might be all/most of the non 12% loans 316 is a bit more than 12%  What a difference a tiny little dot can make - clearly I meant £3.16
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They're not allowed to say "Sorry guys, we cocked up. Wot a bunch of prats". Might "offend" somebody. 
