LendingCROWD NZ P2P

[Saamee]

Then your words are just unsubstantiated mumbo jumbo words with no credibility!

Could jsut be made up for all anyone else here knows!

I had wondered if LC had told you that - but you could have said friends, just family or people at work ( was not looking for names and address! )

[beacon]

Then your words are just unsubstantiated mumbo jumbo words with no credibility!

Could jsut be made up for all anyone else here knows!

I had wondered if LC had told you that - but you could have said friends, just family or people at work ( was not looking for names and address! )

You are free to take my words as you see fit. Hope you have better success with your email(s) to Wayne and FSCL complaints.

[Saamee]

I feel that time will tell about replies....

It looks like it may move very slowly!!

FSCL directed LC to engage but nothing yet!

I hear Crickets

[beacon]

I feel that time will tell about replies....

It looks like it may move very slowly!!

FSCL directed LC to engage but nothing yet!

I hear Crickets

Seems Lending Crowd are creating a turn-about/escape route by stating in their email (to me) "... whilst we have put in place a system to start methodically winding down the LCL service, it is early days and your comments and suggestions have been noted and are important to us. We are committed to reviewing all feedback."

A finance company that loses investor goodwill loses all eventually. They have erred, and the quickest, best and cheapest remedy/ damage control is to reinstate daily client withdrawals urgently. It would be quite hard to defend how they are serving the investor by cheating him of the pre-contracted right to withdraw available cash "at will", or denying market interest payment on "available cash" by unilaterally changing TOS in an existing contract.

[Saamee]

A finance company that loses investor goodwill loses all eventually. They have erred, and the quickest, best and cheapest remedy/ damage control is to reinstate daily client withdrawals urgently. It would be quite hard to defend how they are serving the investor by cheating him of the pre-contracted right to withdraw available cash "at will", or denying market interest payment on "available cash" by unilaterally changing TOS in an existing contract.

Note: 20th March is the latest version as still shown on their website ( screen shot already saved! ).

No new Investor Agreement has been posted Online and this is where the whole issue falls apart because it proves they have acted illegally outside of their remit.

With the website being pulled from 14th Dec how are we investors meant to know when anything changes?

Not that anything changed with this current event Online on their website.

>> https://lendingcrowd.co.nz/legals

[beacon]

With the website being pulled from 14th Dec how are we investors meant to know when anything changes?

More importantly, it takes away your ability to see your "available cash" on any given day, as well as your ability to calculate how much interest you lost in the week before the weekly withdrawal.

[Saamee]

Call me Cynical...... but I would prefer you call me Saamee!!!


Would you believe it...... I rather think I was correct.


LC have only as today ( Sun 10th Dec 2024 ) decided to update their Investor Agreement on their Website.


>> https://lendingcrowd.co.nz/content/f...rAgreement.pdf


You will note LC have only today added a Clause 'G' to the Investor Agreement > Investor Account section 5.1 new clause 'G'


This talks about something called the 2nd Hold Date.


Not a clue in the world what a 2nd Hold Date means!!


We as Investors have \ are NEVER asked to accept the latest Investor Agreement Ts & C's


Not when you ever logon to the Website or through Email notifications.


Unlike say Banking App's on your phone where after a new Version updates you have to accept the latest Ts & C's BEFORE you can use the newly updated App!!!


I would call todays' act of updating the LC Ts & C's too little too late after the event - in other words LC have put the cart BEFORE the Horse.....


Now there actions I see as pure Cynical C . Y . A

[beacon]

I feel that time will tell about replies....

It looks like it may move very slowly!!

FSCL directed LC to engage but nothing yet!

I hear Crickets

Interest lost can be claimed from the date of Contractual change, ie., 4th December, alongwith costs and damages etc. if it goes to litigation

[Saamee]

Interest lost can be claimed from the date of Contractual change, ie., 4th December, alongwith costs and damages etc. if it goes to litigation

There are quiet a few hours of time spent both by myself and my wife on this to date.

LC will not like my hourly charge when I win at the Disputes Tribunal!!!

[kiwical]

LC will not like my hourly charge when I win at the Disputes Tribunal!!!

Good luck with that. You can't charge for time spent or even your fee to apply to the DT.