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Post by charliebrown on May 1, 2018 12:08:29 GMT
Renewed today until 25/04/2019 Domain Name: COLLATERALUK.COM Registry Domain ID: 1923169936_DOMAIN_COM-VRSN Registrar WHOIS Server: whois.godaddy.com Registrar URL: www.godaddy.com Updated Date: 2018-04-30T11:42:52Z Creation Date: 2015-04-25T08:51:36Z Registry Expiry Date: 2019-04-25T08:51:36ZDo you think that means they’re going to bring the website back?
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Post by charliebrown on May 1, 2018 12:03:15 GMT
I think it's probably the fact that other platforms get it all done by about half 9 even on weekends, and that it's an area where Lendy are getting worse at by not even starting the job by midday Perhaps there's a reason why Lendy haven't done the interest run yet. Perhaps they have a computer glitch or something has happened that is completely out of their control. Does it really matter if it's paid at 9am or 5pm? People need to calm down and stop whinging about every little thing regarding Lendy, this forum has just become a barrage of unreasoned negativity recently like this and it's not helping anybody. The last platform that said they had a computer glitch went into administration. I agree on the negativity, let’s stay calm. I don’t even mind if the interest run is a week late to be honest as long as the confidence and trust is there.
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Post by charliebrown on May 1, 2018 11:44:40 GMT
However, my biggest fear and my worst nightmare, is that LY will just cut and run and leave us all high and dry. I worry about this scenario all the time and any small turn of events, such as the interest run being late, scares the living daylights out of me. That's not healthy at all and suggests you're overexposed. I suggest cutting back to levels you're comfortable with. If only it were that simple. Yes, I am overstretched. Was comfortable with it at a point in time. I’m currently very uncomfortable and trying, unsuccessfully, to reduce my exposure.
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Post by charliebrown on May 1, 2018 11:33:33 GMT
Paul, without meaning to be harsh, I feel this is one of the problems with Lendy. You shouldnt need the gimmick of a podcast to answer lenders questions. Just a properly staffed, knowledgeable customer service and a Q&A function on the website. If the updates were comprehensive, including QA reports, logical, sequential and realistic that would eliminate a lot of queries. What you need is someone who looks at stuff from a lenders perspective and can preempt the lenders questions. Hey put a lender on the podcast, a critical one, then it might have value, otherwise I fear it will just be another source of contention & mockery. I completely agree. Paul, why is Lendy not on top of the massive Default List? Splitting it into two parts so that it doesn't look so big, is achieving nothing. Excuse my crass tone but a point needs to made here, all you are doing is polishing turds. There’s a handful of issues that are repeated and repeated and repeated on these forums that have never been addressed. If they were addressed we could eliminate all the noise and get “back to business”. All the spin and gimmicks doesn’t address the root cause. We need to see empathy from LY and a togetherness between LY and investors. I think if we ever got to that point we’d see investors would be willing to accept that things do go wrong from time to time, as long as we are furnished with the facts and actually thought LY gave a sh*t.
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Post by charliebrown on May 1, 2018 11:02:18 GMT
I am very concerned by the amount of cash I’ve got stuck in defaulted loans, yes, I said it, DEFAULTED. However, my biggest fear and my worst nightmare, is that LY will just cut and run and leave us all high and dry. I worry about this scenario all the time and any small turn of events, such as the interest run being late, scares the living daylights out of me.
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Post by charliebrown on Apr 30, 2018 10:35:05 GMT
Keep a well diversified portfolio and you'll still make a better return than banks etc. Worst case scenario, I reckon a balanced portfolio would see a 20% default rate and an average 70% recovery- Total 6% loss. So you can still expect to receive 6%. Anything over is a bonus. This looks more like a best case scenario IMO. Current loans in difficulty are more than 20% by value and there have been many losses in excess of 30%. In the case of DFLs 70% recovery is highly unlikely. Based on what we’re starting to see I’d agree that 70% recovery looks like a best case. We’ve seen recoveries achieving much less than 70%. You’ve also got to factor in that recovery is a portion of capital only. What about all the lost interest whilst you wait 2 years+ for a resolution. I am well diversified in LY and if I can achieve a 6% return I’d be astounded, I’m actually bracing myself for significant capital losses. I’m not bashing LY, we are where we are, and I’m hoping we all ultimately can make a decent return.
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Post by charliebrown on Apr 29, 2018 0:13:21 GMT
If we look at the results from previous LY votes we can see that most investors vote for the option that offers the quickest resolution, even when that option means they will need to take a significant haircut. Based on that sentiment I’d think most investors would want to make a deal with the borrower, even accepting significant capital losses.
LY has started to improve in certain areas but I personally don’t think the returns from LY are anywhere near worth the stress and the net returns. After all the haircuts are finished most of us are going to be looking rather bald.
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Post by charliebrown on Apr 23, 2018 10:51:14 GMT
High net worth (prior to investing in Isle of Wight and the large fortified house) That’s hilarious. Funniest post I’ve read in ages. I laughed out loud 😁
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Post by charliebrown on Apr 23, 2018 7:58:24 GMT
I came to FS because I was tired of LY’s arrogant incompetence.
Little did I know that FS would prove to be even worse.
I’m beginning to realise that none of the p2p companies should actually be trusted with our money.
Voting for your favourite p2p platform is a bit like voting for your favourite method of execution. COL killed me with a single bullet to the head whereas LY and FS are slowly boiling me in water.
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Post by charliebrown on Apr 19, 2018 8:46:32 GMT
What they have done is kind of reasonable as it’s resurfaced loans like The Castle that had previously disappeared. It might be seen as something that “softens” the situation and might be aimed at making things more palatable to new investors. However, long time investors know that it really means “snowball’s chance in hell of recovery, expect 100% loss”.
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Post by charliebrown on Apr 18, 2018 11:35:28 GMT
I don’t think there’s a lack of money to invest, it’s more a lack of confidence. Lendy do not need to call us, they just need to read these forums as the things we don’t like have been stated over and over again. I’d much rather LY spent the time calling borrowers and asking them when they are going to repay non-performing loans.
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Post by charliebrown on Apr 16, 2018 8:32:00 GMT
I think there is appetite but not the cash. Lendy need to get cash back to their lenders either by loans repaying or improving SM liquidity with discounting. I was planning to use loan repayments to buy into Cardiff but no repayment forthcoming and my funds are tied up elsewhere after ISA season Not doing too well on repayments and it's hard to see how it is going to improve. I don't think discounting would make any significant difference, the appetite for high risk/return seems to be declining. Because the risk is higher than the return. The chance of you getting your capital back with 12% interest in a decent timeframe is pretty unlikely based on current performance.
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Post by charliebrown on Apr 16, 2018 7:58:40 GMT
I wish I had a pound for every time a p2p platform said the loan is “expected to repay soon” and it didn’t. In fact when they write “expected to repay soon” you can without fail expect the exact opposite to be true.
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FundingSecure (FS) in Administration
Picasso
Apr 14, 2018 8:43:28 GMT
Post by charliebrown on Apr 14, 2018 8:43:28 GMT
Fortunately FS actually hold all these assets safe 'n secure . . . Though whether the valuations are actually realisable is another matter entirely. especially with - say 12 months interest added ? Why do I often feel this is extended 'funding by entrapment' - we simply can't exit, whether we like it or not !? I’d settle for my capital back on these loans. It’s an absolute farce and a disgrace. I’m also worried by the mention earlier in this thread as to question whether we are even sure these “masterpieces” are genuine. i guess art valuations are always finger in the air, but we’ll only know once FS wake up and get these assets into auction.
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Post by charliebrown on Apr 14, 2018 8:32:24 GMT
The two are not mutually exclusive. You may be investors (or lenders) in the case of loans which are drawn down in proper p2p fashion. And you may be creditors for unallocated interest payments and deposits held in a pot (if such exists). But that’s not what the RR email said. The RR email said ALL investors are considered to be creditors.
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