LittleBear
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Post by LittleBear on Feb 3, 2018 13:08:39 GMT
I've just downloaded my transaction statement. I notice that there are two new transaction types, starting (for me) on 1st Feb: 'Interest Accrued' and 'Accrued Interest'. 1. What do these mean exactly? 2. Are they the same thing? If so, could the naming be consistent so that my pivot table doesn't have two rows for the same thing, please?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Feb 3, 2018 13:44:05 GMT
I've just downloaded my transaction statement. I notice that there are two new transaction types, starting (for me) on 1st Feb: 'Interest Accrued' and 'Accrued Interest'. 1. What do these mean exactly? 2. Are they the same thing? If so, could the naming be consistent so that my pivot table doesn't have two rows for the same thing, please? I'm guessing 'Accrued interest' is interest outstanding for loans that have gone negative but then subsequently been repaid and this is the interest that covers the negative period. eg BL0037 'Interest accrued' is the interest for where a loan has been for sale on the SM but as an extension can be listed without loss of interest. Does this match with what you are seeing? I dont have any of the latter as havent sold any extended loans.
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SteveT
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Post by SteveT on Feb 3, 2018 14:07:40 GMT
I've just downloaded my transaction statement. I notice that there are two new transaction types, starting (for me) on 1st Feb: 'Interest Accrued' and 'Accrued Interest'. 1. What do these mean exactly? 2. Are they the same thing? If so, could the naming be consistent so that my pivot table doesn't have two rows for the same thing, please? I'm guessing 'Accrued interest' is interest outstanding for loans that have gone negative but then subsequently been repaid and this is the interest that covers the negative period. eg BL0037 'Interest accrued' is the interest for where a loan has been for sale on the SM but as an extension can be listed without loss of interest. Does this match with what you are seeing? I dont have any of the latter as havent sold any extended loans. I was paid "Interest Accrued" on BL00017, which apparently covered the 17 days in January when it was in "negative days" (after the first extension had expired, but before the borrower stumped up for the second extension)
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LittleBear
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Post by LittleBear on Feb 3, 2018 15:23:28 GMT
SteveT, that would explain the 'interest accrued' on BL00017. Was that communicated somewhere? I also have 'interest accrued' on BL00008 . I guess that is to do with the extension shown on the updates for 18th Jan. BL00013 was repaid on 4th Jan, along with a small amount of interest. So I guess you are correct that it is outstanding interest that was paid to us as 'accrued interest' on 4th Feb. It would be useful to have some information on the website somewhere - maybe as an update on the individual loan - to explain these payments.
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SteveT
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Post by SteveT on Feb 3, 2018 15:40:13 GMT
SteveT, that would explain the 'interest accrued' on BL00017. Was that communicated somewhere? AFAIK, only in reply to my email querying why I hadn’t received the full month’s interest for BL00017 in the main interest run
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