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Originally Posted by Saamee
For clarity could you tell us here who \ where told you there were others? t.i.a
They are not comfortable with the disclosure you want here. I presume they will take what action they see fit themselves.
I also presume Lending Crowd has advised them (as they have advised me) that the funds seen as "cash available" in the account on Monday morning, weren't cleared funds as of Sunday night - which is what they processed last Monday - the 4th of December 2023 .
So far as I remember, up until November end, they used to process client-requested withdrawals made upto 2 PM on any business day - after 2 PM the same day, up to the "cash available" on the day.
Looks like yet another change to suit themselves, and use Investor funds (Other People's Money -OPM) free...
Last edited by beacon; 07-12-2023 at 04:44 PM.
Reason: Added date
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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! )
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Originally Posted by 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! )
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.
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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
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Originally Posted by 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
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.
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Originally Posted by beacon
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
Last edited by Saamee; 07-12-2023 at 06:08 PM.
Reason: spelling
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Dishonest Obfuscation
Originally Posted by Saamee
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.
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Originally Posted by 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
Interest lost can be claimed from the date of Contractual change, ie., 4th December, alongwith costs and damages etc. if it goes to litigation
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Originally Posted by beacon
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!!!
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Member
Originally Posted by Saamee
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.
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