mikes1531
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Post by mikes1531 on Apr 6, 2017 17:01:37 GMT
If an investor has any concerns about an opportunity based on the information provided then they should not invest. That's a surprising statement. Not really. It's a rephrase of a reply given by one of the principals of the platform, who basically told an investor to take their money and go elsewhere rather than asking questions that Lendy don't want to answer.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Apr 6, 2017 17:13:38 GMT
"If an investor has any concerns about an opportunity based on the information provided then they should not invest."
ANY concerns? Jesus Lendy, in that case, based on the"information" you provide, you'd never get another Investor ..........................................
Which just might be a good thing, for you to adjust your attitude.
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mikes1531
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Post by mikes1531 on Apr 6, 2017 17:14:52 GMT
Think about it: if a payout from the provision fund was always matched at the same time by an amount from Lendy into the fund to keep it at 2%, then any such payout would not be solely discretionary as regards the provision fund for it would entail agreement by the separate legal entity that it had in fact the resources to make a compensatory payment. The discretionary aspect of the PF is in whether the PF trustees decide investor losses should be mitigated and, if so, to what extent. The issue of topping up the PF is separate. In the past, Lendy have said they would. Now they're saying they'll aim to. But by not disclosing the balance in the PF, or even giving any hints as to how much, if anything, is left in it, they're not being transparent, we haven't a clue what's actually happening, and it's leading investors to lose confidence in the platform. Surely releasing the PF balance and letting everyone know what the situation really is, is better than letting rumours and speculation that the cupboard is bare run rampant.
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lobster
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Post by lobster on Apr 6, 2017 17:35:50 GMT
"If an investor has any concerns about an opportunity based on the information provided then they should not invest."ANY concerns? Jesus Lendy, in that case, based on the"information" you provide, you'd never get another Investor .......................................... Which just might be a good thing, for you to adjust your attitude. Is this being fair to Lendy / Paul ? Every single word seems to be scrutinised to the n'th degree , and used against them. The sentiment of the statement is surely pretty obvious, without taking every word absolutely 100% literally.
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Post by meledor on Apr 6, 2017 17:47:20 GMT
Think about it: if a payout from the provision fund was always matched at the same time by an amount from Lendy into the fund to keep it at 2%, then any such payout would not be solely discretionary as regards the provision fund for it would entail agreement by the separate legal entity that it had in fact the resources to make a compensatory payment. The discretionary aspect of the PF is in whether the PF trustees decide investor losses should be mitigated and, if so, to what extent. The issue of topping up the PF is separate. In the past, Lendy have said they would. Now they're saying they'll aim to. But by not disclosing the balance in the PF, or even giving any hints as to how much, if anything, is left in it, they're not being transparent, we haven't a clue what's actually happening, and it's leading investors to lose confidence in the platform. Surely releasing the PF balance and letting everyone know what the situation really is, is better than letting rumours and speculation that the cupboard is bare run rampant.
If as you believed that Lendy would top up at the same time as the provision fund paid out then they are not separate. A pay out would not happen unless the separate legal entity agreed. In which case there would be little point having a distinct provision fund separate from the platform.
As I said I am more than happy not to know the provision fund amount. Knowing the provision fund amount until recently has not prevented rumours and speculation and general negativity so I do not see any reason why not knowing it will greatly change matters.
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7d7
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Post by 7d7 on Apr 6, 2017 17:52:59 GMT
That's a surprising statement. Not really. It's a rephrase of a reply given by one of the principals of the platform, who basically told an investor to take their money and go elsewhere rather than asking questions that Lendy don't want to answer. "If an investor has any concerns about an opportunity based on the information provided then they should not invest."ANY concerns? Jesus Lendy, in that case, based on the"information" you provide, you'd never get another Investor .......................................... Which just might be a good thing, for you to adjust your attitude. That pattern seems to be emerging again! A business starts. As they desperately seek investors, customer service is top-notch. They then become popular and are able to solidify a base to move from crawling to walking. Once the running phase sets in, they realise how monstrous they are and all of a sudden their language and attitude change depicting the new creature they've become. Who needs the Joe Blogg investor anyway? After all, profit is target number one and loans will fill anyhow. Paul's comments serve as a wake-up call for all investors.
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twoheads
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Post by twoheads on Apr 6, 2017 18:12:54 GMT
That's a surprising statement. Bright chap our Paul... good information to know. Apologies to Paul64, that was a little overly sarcastic. Sorry.
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mason
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Post by mason on Apr 6, 2017 18:15:28 GMT
If an investor has any concerns about an opportunity based on the information provided then they should not invest. Couldn't agree more, but this should apply not only to the individual loans, but also to the workings of the platform as a whole. and it will... what? Aim to have a minimum balance of 2% of the total live loan amount at any time? Yes, and I aim to go to the gym a minimum of 3 times a week 
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vmail
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Post by vmail on Apr 6, 2017 18:41:16 GMT
For starters, with one post you can address many people. we are all in the same boat Excluding the people who don't know about this forum.
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vmail
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Post by vmail on Apr 6, 2017 18:42:19 GMT
If an investor has any concerns about an opportunity based on the information provided then they should not invest. That's a surprising statement. That bit was written by Tim
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Liz
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Post by Liz on Apr 6, 2017 18:45:44 GMT
Bright chap our Paul... good information to know. Apologies to Paul64 , that was a little overly sarcastic. Sorry. I think we need to remember that paul is a real person, with real feelings and just doing his job. The real decision makers left here a long time ago.
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ozboy
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Post by ozboy on Apr 6, 2017 19:04:07 GMT
Granted, but he's also a big boy (I surmise).
I've copped FAR worse over 40 years of being in Sales, "If you can't stand the heat, ...................."
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adrianc
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Post by adrianc on Apr 6, 2017 19:29:36 GMT
Granted, but he's also a big boy (I surmise). I've copped FAR worse over 40 years of being in Sales, "If you can't stand the heat, ...................."Even so, it's not the best way to encourage communication, is it?
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Apr 6, 2017 19:39:09 GMT
Granted, but he's also a big boy (I surmise). I've copped FAR worse over 40 years of being in Sales, "If you can't stand the heat, ...................."Even so, it's not the best way to encourage communication, is it? Have to disagree, if you're a Professional, and you're in "Marketing", you have to deal with all sorts all the time, goes with the territory. You grit your teeth, bite the bullet, take it on the chin, and maintain engaging with the Customer regardless. Obviously I'm more thick skinned than yer average geezer or geezerette! 
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GeorgeT
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Post by GeorgeT on Apr 6, 2017 19:41:35 GMT
Time to give Paul a break I think. He's only doing his job.
I haven't done all the calculations but it looks to me as though Paul could be the most popular member of the forum in terms of the number of likes he gets per post. You wouldn't think so from reading some of the posts but perhaps he can take comfort from that.
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