stokeloans
Member of DD Central
Posts: 400
Likes: 484
|
Post by stokeloans on Jan 25, 2019 17:04:08 GMT
I have been an IT professional for well over 25 years. I can promise you that in my experience, unless the data is encrypted or corrupted, reconstructing the database and extracting meaningful data such as individual’s transaction history is really not that difficult. It certainly shouldn’t take the best part of a full year and it certainly shouldn’t cost the ridiculous fees BDO are charging. It’s really quite pathetic that we are this far down the track and they’re still talking about their amazing efforts to recover the data. A decent DBA and Data Architect would be able to reverse engineer a database, that I suspect is comparatively small and simple, in just a few weeks. Yes but what can you expect when you give that kind of job to people who have no IT background ? I thought they brought in outside expertise just for that....at great expense
|
|
stokeloans
Member of DD Central
Posts: 400
Likes: 484
|
Post by stokeloans on Jan 24, 2019 19:47:01 GMT
"Good progress is being made on data recovery: "we are now at the stage where a significant majority of investors’ detailed portfolio analysis as extracted from the database reconciles with the information initially provided to us by Refresh Recovery"" So RR did recover the database if BDO are comparing their information to that. Weren't we told otherwise ? I have been an IT professional for well over 25 years. I can promise you that in my experience, unless the data is encrypted or corrupted, reconstructing the database and extracting meaningful data such as individual’s transaction history is really not that difficult. It certainly shouldn’t take the best part of a full year and it certainly shouldn’t cost the ridiculous fees BDO are charging. It’s really quite pathetic that we are this far down the track and they’re still talking about their amazing efforts to recover the data. A decent DBA and Data Architect would be able to reverse engineer a database, that I suspect is comparatively small and simple, in just a few weeks. I think what you're trying to say is BDO are extracting the urine ? Can't disagree with you
|
|
stokeloans
Member of DD Central
Posts: 400
Likes: 484
|
Post by stokeloans on Jan 24, 2019 15:37:42 GMT
"Good progress is being made on data recovery: "we are now at the stage where a significant majority of investors’ detailed portfolio analysis as extracted from the database reconciles with the information initially provided to us by Refresh Recovery""
So RR did recover the database if BDO are comparing their information to that. Weren't we told otherwise ?
|
|
stokeloans
Member of DD Central
Posts: 400
Likes: 484
|
Post by stokeloans on Jan 23, 2019 19:31:41 GMT
That happens with every update on this loan,have you not been reading the previous updates or getting the emails ? You have to log in to your Lendy account first and then open the link in the email. I don't, I click on the link on the email and then login
|
|
stokeloans
Member of DD Central
Posts: 400
Likes: 484
|
Post by stokeloans on Jan 23, 2019 17:41:51 GMT
I was just a little alarmed to receive an email giving me instructions on how to access this update. Fortunately it was just Lendy being Lendy. On access I was shouted at by a big Unauthorised banner and told, " Sorry, you do not have permission to access this page.".. There's a relief. That happens with every update on this loan,have you not been reading the previous updates or getting the emails ?
|
|
stokeloans
Member of DD Central
Posts: 400
Likes: 484
|
Post by stokeloans on Jan 23, 2019 17:16:33 GMT
April 1st,how appropriate
|
|
stokeloans
Member of DD Central
Posts: 400
Likes: 484
|
Post by stokeloans on Jan 3, 2019 12:55:49 GMT
This is like turkeys voting for Christmas, I dont think this should be on here, borrowers would defo be interested in how much they could get away with. I don't agree. Firstly, it's a completely hypothetical scenario poll which I created for curiosity and not related to any specific loan. Secondly, borrowers are not entitled to "get away with" anything. They have signed a legal contract requiring them to make a full loan repayment. As it is Lendy's discretion whether to pursue any loss in capital in specific loans, I don't come to the same conclusion as you do in regards to this poll being beneficial to borrowers. Obviously if the moderators wish to delete this poll then I would accept their decision but I don't see a legitimate reason for them doing so. Of course you wouldn't agree you started the poll !!!
|
|
stokeloans
Member of DD Central
Posts: 400
Likes: 484
|
Post by stokeloans on Jan 2, 2019 17:48:21 GMT
This property will be subject to arson in due course. Talk about getting our fingers burned! Presumably it will be well insured
|
|
stokeloans
Member of DD Central
Posts: 400
Likes: 484
|
Post by stokeloans on Dec 29, 2018 13:50:05 GMT
I haven't instructed HCR but it might be worth someone asking what security of costs have been provided for by the borrower. Lendy have advised the have spent £200,000+ to-date on legal costs, I suspect this will be deducted from any eventual return to us. £200,000 !!!!!!! On what ?
|
|
stokeloans
Member of DD Central
Posts: 400
Likes: 484
|
Post by stokeloans on Dec 27, 2018 18:17:08 GMT
... She can't win, she won't win a ... With respect, that is a presumption - you cannot know that with any certainty unless you have availed yourself of some pretty rock-solid legal advice from a Barrister. I'm not messing myself, as you suggest, but I am concerned. I've done the arithmetic - the worst case might be that I take a £2k - £3k hit - I'm not going to lose my house or anything. But if she DOES succeed - how many more borrowers on my long list of defaulted Lendy loans might jump on the band-wagon? What actually bothers me is Lendy's business model. We don't seem to be talking about that. The idea that Lendy acts as an 'Agent' between lenders and borrowers appears to be an idea unique to Lendy. None of the other platforms I use apply this model. Using this model, Lendy has exposed me to a LEGAL risk that I was not expecting or looking out for. FINANCIAL risk - for sure - we all know about that. But a LEGAL risk? Was anyone looking out for that? I wasn't and neither apparently was the FCA. For the record, I voted to accept the derisory offer because I could see it dragging on for years. Being stuck in so many other defaulted Lendy loans, as I am, I just wanted to get rid of yet another one. But I was out-voted. So here I am, exposed to a LEGAL risk because my 'agent' made a loan agreement, with terms I was unaware of, with an aggressive borrower whose name was withheld from me. What concerns me mostly, is that for all we know our 'Agent' could just walk away from this problem and leave us to get on with it. Regardless of whether 'she' wins or not, or Lendy walks away or not, all of us need to reconsider the robustness and safety of Lendy's business model and act accordingly. If she wins your costs could run into many thousands, your arithmetic is flawed
|
|
stokeloans
Member of DD Central
Posts: 400
Likes: 484
|
Post by stokeloans on Dec 27, 2018 11:53:55 GMT
I bet she is laughing her socks off at you lot bickering amongst yourselves. An idle threat.....which is what it is...and you're all crapping your pants. Don't you see,this is all part of her plan. She can't win,she won't win all she can try and do is scare you into accepting a derisory offer for YOUR money. This is likely to go on for months if not years, she'll employ any delaying tactic possible.That's what people like her do
|
|
stokeloans
Member of DD Central
Posts: 400
Likes: 484
|
Post by stokeloans on Dec 12, 2018 14:19:09 GMT
I am contemplating the same - some questions if anyone is willing to comment or PM me 1. I assume that the primary focus of your complaints derives from the register issue, which presumably you relied upon as one of your primary tests for deciding whether to invest? 2. Has anyone mentioned the seeking of financial redress from the FCA, if subsequent losses occur once the administration has finished or is this not appropriate as part of this complaint? I merely ask, in that we can all write our own compositions, but clearly consistency of content would be useful. Will await anyone's opinions/thoughts/comments - Cheers P 1.yes 2.yes
|
|
stokeloans
Member of DD Central
Posts: 400
Likes: 484
|
Post by stokeloans on Dec 12, 2018 12:14:57 GMT
I was wondering why I hadn't received a reply as per above. I had,it was in my spam folder !
|
|
stokeloans
Member of DD Central
Posts: 400
Likes: 484
|
Post by stokeloans on Dec 9, 2018 12:12:53 GMT
My complaint has also gone in
|
|
stokeloans
Member of DD Central
Posts: 400
Likes: 484
|
Post by stokeloans on Nov 29, 2018 16:08:26 GMT
The borrower has no intentions of taking anyone to court for fraud or whatever. It's all delaying tactics,scaremongering and basically putting the frighteners up the the investors and Lendy in the vague hope they will eventually succumb and accept an offer that gets her out of the poo.....in legal terms
|
|