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Post by loftankerman on Apr 16, 2018 22:43:49 GMT
I wanted my money back when it supposed to have been repaid but have consistently thought that DFL005 was a decent long term business proposition. So in that sense an extension in itself was not my worst case scenario. What bothers me is that the path is potentially set in not paying back until Stalag Luft Yorkshire comes good. I find that development so unimpressive that I fear it may effectively drag DFL005 down with it. With the state of defaults and passing of time, I can’t see Lendy having the wherewithal or bottle to fight its corner to recover funds on so many fronts even if the real world valuations indicate it is viable.
Forty years ago a friend running a fair sized family business and living in a community of similarly positioned people told me that he had to change his executive car and have his house painted every few years. If he didn’t he said word would get round that his business must be struggling. The next thing he’d know would be that people would stop paying their bills. Maybe Lendy’s borrowers sense that deferring payment might be in their best interest.
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Post by loftankerman on Apr 16, 2018 14:45:42 GMT
Has anyone found a way to stop these unsolicited calls ? Paul64 would you please publish a means to allow people to opt out of these phone calls ... your website includes a section to specify email communication preferences ( lendy.co.uk/account/email-preferences ) but there is no equivalent for phone / mobile / post marketing. If there is one thing that will convince me to look elsewhere for p2p investments, it is being pestered by marketing cold callers. After endless calls, in spite of telephone preferences, we put Call Guardian on our phones. It stopped them dead. It killed a lot of fun though, my favourite response when clearly unwanted callers asked for my wife, was to say "Oh yes, I'm sure she'd love to talk to you. She's in the South paddock with the horses, I'll just go and get her for you." I wouldn't wait for a reply, leave the phone off the hook and hang up later. The closest we had to a horse was a cat and the South paddock would have to be the front garden.
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Post by loftankerman on Apr 16, 2018 13:32:11 GMT
There's been quite a few loans I 'liked the look of', many are in default now. A loan at 14% coupon is always going to be 'seat of the pants stuff'and that's with a competent platform and valuation. With Lendy it's about as good as a scratchcard. Factual report: June 2017 - village shopkeeper, Kartik Shah, of Kingswood Surrey jailed for 8 months for telling customer his £20,000 winning ticket was worthless and claiming the prize for himself. I imagine quite a few think the scratchcard analogy is a good un.
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Post by loftankerman on Apr 15, 2018 13:12:44 GMT
I think Lendy have been astute enough not to have promised anything. Their apparent heart warming news is always couched in terms that make it clear that what they are reporting is no more than assurances or opinions of third parties. Informing us of their own policies isn't a commitment to unreservedly follow them and as we know they are revised on the hoof to make them less onerous in any case.
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Post by loftankerman on Apr 15, 2018 9:59:32 GMT
I'm inclined to suspect that the end of the allegedly imminent sale had already arrived when the partial repayment dubious deal was thrust upon us. It seems likely there was a management decision to drip feed us the news in the hope that the joy it would bring would stop investors considering crowd funding external management consultants from the dark web.
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Post by loftankerman on Apr 14, 2018 23:55:51 GMT
It’s uplifting to hear all these pronouncements of faith in Lendy management and the accompanying exhortations that would have them step up and stand by the lenders. I have a different take on this and have no expectations in that regard. Whoever is running this farce, they are more like kids who’ve had their dinner money pinched by the school bully than business managers. They can’t fight to get it back because they know they aren’t up to it. To save face the only option they see is to dance to whatever tune the bully calls and the only beneficiary of that is the bully. Lendy’s favourite DFL005 progress report was ‘No change’ and that’s all I can forecast for them.
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Post by loftankerman on Apr 13, 2018 15:57:56 GMT
This turn of events only comes as a surprise to me because Lendy told us today rather than not telling us on the 14th leaving everyone in the dark over the weekend. (Note to self.Leave 5 star review on Trustpilot focussing on communications but better not mention yet another borrower running rings round them.)
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Post by loftankerman on Apr 13, 2018 11:49:29 GMT
If the borrower's confidence is justified this repays tomorrow. Will it? Won't it? Who knows? What baffles me is the person who invested £4k today which would net a grand total of £1.37 interest in a best case scenario or alternatively the loan defaults and they're exposed to the risk of capital loss. Strange investment imo. Or maybe there is a cunning plan at play here... Anybody remember Brewster's Millions?
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Post by loftankerman on Apr 9, 2018 16:00:52 GMT
Hmmm! This level of completion is what I would regard as the ‘trying to decide whether to start or not.’ phase. I have not been all that convinced about what they are trying to do here or the consequential long term desirability of the properties themselves. I suspect that this is another tail that is wagging the Lendy dog. Hopefully I am wrong and repayment money will be arriving shortly and the longer term won't matter.
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Lendy (L) in Administration
phonecalls
Apr 6, 2018 11:56:20 GMT
Post by loftankerman on Apr 6, 2018 11:56:20 GMT
I have been waiting patiently but not been deemed worthy of contact ( decent 5 figure sum invested). Noted. Me too, if you include the pence!
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Post by loftankerman on Apr 5, 2018 7:46:27 GMT
The ins and outs of the PF have never been of any concern to me as I came into Lendy regarding it as being along the lines of having a fairy godmother. I factor neither into my view of things.
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Post by loftankerman on Apr 3, 2018 15:49:38 GMT
has anyone received an email to confirm that this month's interest has been paid? As far as I can tell, I was paid by about 11.30 am but neither myself of my wife have received the usual email confirming that this is indeed the case. Notwithstanding that I've withdrawn my £400 (should have been £1000) to set against the inevitable capital losses that I will incur / continue to experience... I decided to leave my £28.25 in until DFL004 repays in about ten days time, that'll save them making two bank transfers.
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Post by loftankerman on Apr 1, 2018 13:16:26 GMT
Got a substantial amount in this and never really paid much attention to the VR before. I notice the GDV is £72.5m but the GDV stated on Lendy is £33m. I understand there will be 2 phases, the second starting in 2019, just after the end date of the extension. Just to give plenty of notice to Lendy and to avoid going down the same road as DFL 5, I DO NOT WISH TO INVEST IN THE NEXT PHASE so don't just roll me into it against my will! It seems to me that the revised T&C relating to Lendy not needing to monitor loans or even bother about what the money was being spent on, were written to stave off criticism of their practices, legitimise dealings around DFL005's partial repayment and further enable the kind of outcome you fear.
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Post by loftankerman on Mar 31, 2018 16:43:07 GMT
I feel much more comfortable when I make a loan which enables the borrower to make money, so there are no losers. Excellent! I have just the thing for you. Make small interest free loans to poor people in 3rd world countries. You can change lives. I won't put a link in, but you can PM me if you want.
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Post by loftankerman on Mar 30, 2018 13:00:05 GMT
I gave up banking with NatWest when they had their several post update massive failures a few years ago. My wife ( a pensioner now) stayed with them because she'd been banking with them since being at university. She has received a similar warning about updates and is now wondering what disasters will befall her this time around.
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