james21
Member of DD Central
Posts: 651 
Likes: 669
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Post by james21 on Jul 4, 2017 11:49:29 GMT
Am diversifying, have 9 platforms Lendy is 10th. In live loans there is plenty to buy in to say at 12% but have shorter length remaining. I appreciate that if a loan has say 60 days left its less desirable because of the risk of default. Is this why these loans with less than full term have available amounts yet the new ones ie pipeline go immediately?
Thank you
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papo
trading & P2P
Posts: 9
Likes: 5
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Post by papo on Jul 5, 2017 5:52:41 GMT
"Don't invest what you can't afford to loose, and only invest with the mindset that you may not see your money again for the duration of the and longer"
This is the reason why I withdrew all my investment from LY a few months ago, when the third important parameter of any investment (liquidity) worsened, too. My withdrawal was a six-digit one, so it took them almost three weeks to complete (terrible company). I am leaving there just accrued interest, which I am eager "to lose... etc", see the advice of cooling_dude...
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Post by lendinglawyer on Jul 5, 2017 7:06:26 GMT
"Don't invest what you can't afford to loose, and only invest with the mindset that you may not see your money again for the duration of the and longer" This is the reason why I withdrew all my investment from LY a few months ago, when the third important parameter of any investment (liquidity) worsened, too. My withdrawal was a six-digit one, so it took them almost three weeks to complete (terrible company). I am leaving there just accrued interest, which I am eager "to lose... etc", see the advice of cooling_dude... 3 weeks to sell your loan parts or to complete the withdrawal once they had sold? One is excusable as the SM is your risk, one is not as they should be processing withdrawals faster than that (unless you owed them KYC docs you hadn't sent them).
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papo
trading & P2P
Posts: 9
Likes: 5
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Post by papo on Jul 5, 2017 7:21:36 GMT
It was 3-days' sales (I had all in "300+ days" and it was still possible then) and as you wrote - I don't blame them for sales at SM, it was my risk.
But the withdrawal took two and half weeks then - between the withdrawal request and money arrival. At the end they apologized, saying my request was lost and the thing was thus delayed, but it wasn't truth, because I was posting to them almost daily and they were replying regularly, that I should be patient etc, so they knew about my request, it wasn't lost, they just played about time...
PS: About the KYC docs: they required them only after two weeks, I posted immediately, then they wired immediately. All together: terrible experience and lesson learned...
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