ben
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Post by ben on May 9, 2019 18:46:30 GMT
I'm wondering if Lendy were to stop trading, how the investors can avoid it to become another Collateral where administrators are simply sucking all the money via their astronomical fees. Collateral stopped trading more than a year ago and as far as I know investors haven't received a penny yet, not even an access to the website to view their accounts. Can investors cooperate and appoint another (experienced?) manager for Lendy's loans, e.g., another p2p platform? Unfortunately the majority of administrators just suck money out of companies with astronomical fees, after all they are the only ones that are pretty much guaranteed to get there money.
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ben
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Post by ben on Apr 7, 2019 15:52:18 GMT
Doesn't mean we won't be sued separately (as suggested by Lendy and H**) in which case Lendy has clearly stated "you're on your own". I think a lot of us on here feel quite negatively against Lendy but I do not remember them actually saying that. Lendy had no legal way of stopping the borrower for adding us to the complaint if they so wanted. So to be fair all they basically said it would be prudent for us to take our own legal advice as our defence would naturally be different to theirs. Although why they choose a company that basically tried to bully people to signing up to them I have no idea.
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ben
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Post by ben on Apr 3, 2019 20:53:23 GMT
They already know, Lendy have had to provide this information previously. I think it was mentioned earlier (I really don't fancy wading through to find it) that there may well be a data protection aspect in this somewhere. Might be a subject Lendy could give a view on, given they would have supplied the data presumably with conditions? I am sure the data would have been given with conditions, but I am pretty sure the few million quid given was given with conditions and look how well that worked out. Would you honestly trust anyone involved in this to not misuse date.
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ben
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Post by ben on Apr 3, 2019 15:23:04 GMT
This is ludicrous! So we've been 'cleared' but we can still get a claim against us? I think the Americans would call it a 'Cruel & Unusual' punishment! Is there no timescale to this potential claim, or could it hang over our heads for the rest of our lives? I would say that without Lendy being involved the borrower would even have difficulty now identifying and proving who we were let alone making a claim against us. I certainly have never heard of Lendy if asked. They already know, Lendy have had to provide this information previously.
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ben
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Post by ben on Apr 1, 2019 19:03:37 GMT
It's my understanding her lawyers have already been replaced since the hearing in January. How could any self respecting law firm represent such an outrageous claimant who uses lenders funds in an attempt not to repay them? What does this say about our country and our legal system, something radical needs to be done! They are not self respecting they are the equivalent of the ambulance chasing lawyers , even though they did not win and get paid, how much did it really cost them?, probably not that much. But if they had won they could have charged us hundreds of thousands of pounds for legal fees.
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ben
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Post by ben on Jan 23, 2019 19:57:02 GMT
On the whole, good news. Though I'm annoyed that Lendy agreed to stay the claim for 2 months. I don't see why a separate Police enquiry has any bearing on this case, and to be honest I have no sympathy for the borrower and I if I were here i'd have expected someone to take direct action. I also hope that Lendy reject the claim from the other party in relation to not being liable for the personal guarantee. Still doesn't explain why the property isn't on the market. Makes me suspicious that Lendy might not be strictly working in the interests of investors.
How could they not really agree to the 2 months stay, if the police are involved. It would have been unlikely the court would do anything until the police had at least done an initial investigation. So why annoy the judge for nothing? With the exception of the judge laughing and throwing it out they probably got about the best they could have been expected to get at this point. I
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ben
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Post by ben on Dec 31, 2018 7:50:58 GMT
Been away travelling for while so not read all these posts . On a quick scan through the forum I can not see what any other platform reps have said, as obviously if she does win this some how it will effect all of them, and will probably kill p2p off, at least in its current form.
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ben
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Post by ben on Dec 13, 2017 15:24:01 GMT
Bit of a consensus so far, so I've been obliged to toss a few shekels in ABL's general direction. I was also interested to see blender's post that ABL earn the same as us without risking any of their own shekels. Makes me uncomfortable that. Thats pretty common on most P2P sites that we only get about half the rate charged. On a few it is even worse.
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ben
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Post by ben on Dec 8, 2017 8:51:34 GMT
It depends how much gets reclaimed on the current losses, a decent recovery could easily take you average up to 7% which is not to bad, even a pretty bad recovery rate should add a little bit to current return. Maybe not great but better then a loss.
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ben
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Post by ben on Nov 24, 2017 18:09:18 GMT
For the IFiSA can you only use the auto invest? I was under the impression you could use manual invest for that to but when investing manually it does not give me the option.
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ben
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Post by ben on Nov 18, 2017 23:08:41 GMT
I will wait for the plane, but may stump up taxi fare if it is cars..😊 I will probably do the same but may leave a small tip too.
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ben
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Post by ben on Nov 18, 2017 22:59:21 GMT
Revenues aren't revenues if you are handing them back to the customer 2 years later, and incurring all sorts of additional costs.... Would I lend for 6 months? Maybe. 2 years at the proposed rate? Probably not. However the loan is insured, and as of September the security covered the loan 3.6 times = <28% LTV. Think of the loan being insured as a bonus not a reason to invest.
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ben
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Post by ben on Nov 13, 2017 16:35:11 GMT
PM are probably my most disappointing site too, it started of so well, I am not looking to sell out but am not investing in any of the new properties either so will wait and see how it goes.
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ben
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Post by ben on Nov 12, 2017 16:21:34 GMT
if you want to sell out you will probably have to sell at a loss , not sure why anybody would buy at a premium when very few properties are getting the returns expected, which is what the majority on the secondary market is.
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ben
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Lendy (L) in Administration
autoinvest?
Nov 5, 2017 16:55:49 GMT
Post by ben on Nov 5, 2017 16:55:49 GMT
would rather put it into one of the big banks paying 0.25% or whatever rather then a fixed return from Lendy. Even at the moment Lendy track record of borrowers are not exactly great, but they will probably be saints compared to some Lendy would deal with given a blank cheque book.
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