ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330 
Likes: 11,549
|
Post by ilmoro on Jan 9, 2019 19:18:25 GMT
Hadn't looked at actual numbers as I'm out but my account shows the same. Full capital and accrued interest but with the interest then deducted again.
Sigh, why is nothing straightforward with Lendy.
|
|
ric
Member of DD Central
Posts: 61
Likes: 35
|
Post by ric on Jan 9, 2019 19:21:19 GMT
I had 2 parts in this loan. For both of them I have an entry saying shortfall (putting my account negative), then a capital repayment of the full amount I had invested (so still short of where I was before the shortfall was "credited"), then interest payments that exactly match the shortfall and get me back to zero. So on balance I have had a full capital return but no interest (although I have something labelled as interest so will need to pay tax on it). Is this just me? if you look at the tax statement, these interests are not included in the total for the month.. so it should be ok tax wise
|
|
adrianc
Member of DD Central
Posts: 10,023
Likes: 5,148
Member is Online
|
Post by adrianc on Jan 9, 2019 19:30:59 GMT
Support have been emailed with my full loan part numbers and amounts.
I shall report back, if and when...
|
|
Mucho P2P
Member of DD Central
Posts: 946
Likes: 1,635
|
Post by Mucho P2P on Jan 9, 2019 19:33:01 GMT
Hold on a sec... I'm short!
I had a nice round number in four loan parts (I'd bought to keep it round after the previous partials).
I've received 99.984% of the balance that was showing.
Looking through my transactions, I've received the following for each part: Capital repayment - 100% of part value.
Interest - total of 0.723% of part value (this may differ for others, because of those recent purchases).
...but there's also a subtraction...
Shortfall - 0.739% of part value.
Looks like the Provision Fairy hasn't visited me yet - or, at least, I hope so.
Just me?
I too have "capital shortfall". So would Lendy like to declare a loss on my tax statement under SAIM 12050 for that amount? Lets see how long to receive a PF payout cover to that shortfall amount. For the few days it was over deadline, as a goodwill gesture (considering all we have put up with for all the extended loans) Lendy could have covered the remaining outstanding interest of a few days extra. a New Year micro present for its long-suffering lenders as we did not receive a Xmas card form them.
|
|
|
|
Post by Proptechfish on Jan 9, 2019 19:39:28 GMT
I may be wrong on this, but isn't the discretionary PF to cover capital loss only ? Why should we be expecting interest to be paid from the PF if the interest is short ? Am i missing something ?
|
|
Mucho P2P
Member of DD Central
Posts: 946
Likes: 1,635
|
Post by Mucho P2P on Jan 9, 2019 19:45:59 GMT
I may be wrong on this, but isn't the discretionary PF to cover capital loss only ? Why should we be expecting interest to be paid from the PF if the interest is short ? Am i missing something ? You are not missing anything, I said as a goodwill gesture. L needs to regain trust, and little gestures can go a long way!
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
|
Post by ilmoro on Jan 9, 2019 19:46:51 GMT
I may be wrong on this, but isn't the discretionary PF to cover capital loss only ? Why should we be expecting interest to be paid from the PF if the interest is short ? Am i missing something ? I am assuming that is the why they have done the way they have, effectively creating an artificial capital loss, rather than an interest shortfall. Under their recovery policy capital is paid ahead of interest. However, the t&C's say interest should be paid first in which case there would be a shortfall on the capital. Its Lendy, they do what they want and there is no logic too it for mere mortals.
|
|
|
|
Post by Proptechfish on Jan 9, 2019 19:53:31 GMT
I may be wrong on this, but isn't the discretionary PF to cover capital loss only ? Why should we be expecting interest to be paid from the PF if the interest is short ? Am i missing something ? You are not missing anything, I said as a goodwill gesture. L needs to regain trust, and little gestures can go a long way! We would all love a bit goodwill from Ly, I won't hold my breath though
|
|
|
|
Post by picanto on Jan 9, 2019 20:16:52 GMT
Really good news, first repayment of 2019 if you don't include DFL035 which was repaid last year. Let's keep it up Lendy.
|
|
|
|
Post by Deleted on Jan 9, 2019 20:48:25 GMT
After the capital shortfall, repayment and interest I'm left with 99.8% of what I held. I can only assume this is because I listed it recently and therefore haven't been paid the full overdue interest which is exactly compensating for the capital shortfall in other cases.
Although only a small fraction I'm bewildered how their convoluted methodology has actually left me with a small capital loss? Bizarre!
|
|
|
|
Post by Proptechfish on Jan 9, 2019 20:54:02 GMT
On reviewing the email it sounds like there might be a bit (maybe a few days) interest on next month's interest round, it is very ambiguous though. So for now i will hold dim candle of hope for a few more pennies at the start of next month.
Edit: scrub that i think i'm just confusing myself now
|
|
Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
|
Post by Godanubis on Jan 9, 2019 21:10:39 GMT
On reviewing the email it sounds like there might be a bit (maybe a few days) interest on next month's interest round, it is very ambiguous though. So for now i will hold dim candle of hope for a few more pennies at the start of next month. Edit: scrub that i think i'm just confusing myself now Not just yourself 
|
|
adrianc
Member of DD Central
Posts: 10,023
Likes: 5,148
Member is Online
|
Post by adrianc on Jan 10, 2019 7:52:06 GMT
first repayment of 2019 if you don't include DFL035 which was repaid last year. That made me chuckle.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
|
Post by ilmoro on Jan 10, 2019 14:06:35 GMT
I may be wrong on this, but isn't the discretionary PF to cover capital loss only ? Why should we be expecting interest to be paid from the PF if the interest is short ? Am i missing something ? I am assuming that is the why they have done the way they have, effectively creating an artificial capital loss, rather than an interest shortfall. Under their recovery policy capital is paid ahead of interest. However, the t&C's say interest should be paid first in which case there would be a shortfall on the capital. Its Lendy, they do what they want and there is no logic too it for mere mortals. Edit I note that Lendy have actually amended their recoveries policy so that it now matches their T&Cs when it comes to priority of repayments.
In case anyone hasnt noticed the priority is
Lendy Fees/costs etc Accrued interest Capital Any other payments due ie bonus interest.
Therefore it is actually correct that there was a capital shortfall on the repayment of this loan as the repayment reportedly insufficient to meet Lendy fees, accrued interrest & outstanding capital. However, the PF should have made up this shortfall as per email, so there is still an issue with the sums received.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
|
Post by ilmoro on Jan 10, 2019 16:43:04 GMT
Hold on a sec... I'm short!
I had a nice round number in four loan parts (I'd bought to keep it round after the previous partials).
I've received 99.984% of the balance that was showing.
Looking through my transactions, I've received the following for each part: Capital repayment - 100% of part value.
Interest - total of 0.723% of part value (this may differ for others, because of those recent purchases).
...but there's also a subtraction...
Shortfall - 0.739% of part value.
Looks like the Provision Fairy hasn't visited me yet - or, at least, I hope so.
Just me?
I too have "capital shortfall". So would Lendy like to declare a loss on my tax statement under SAIM 12050 for that amount? Lets see how long to receive a PF payout cover to that shortfall amount. Not sure they can. For a loan to 'become' irrecoverable it has to be with reference to the funds or potential funds the borrower has. Not sure you could claim that the borrower has no funds or potential funds. Cant 'treat' as irrecoverable as never in legal recovery.
Tax lawyer required!
|
|
