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Post by Duane Dibley on Nov 12, 2014 22:40:59 GMT
Anyone know what's happening with Ka*e Group?
A week overdue now. Supposedly funds were received by AC but for some unknown reason not allocated to lenders.
Will we be receiving a cheque in the post?
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902 
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Post by merlin on Nov 12, 2014 23:23:22 GMT
Anyone know what's happening with Ka*e Group? A week overdue now. Supposedly funds were received by AC but for some unknown reason not allocated to lenders. Will we be receiving a cheque in the post? Would you be happy with an IOU?
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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 Nov 13, 2014 1:56:48 GMT
Anyone know what's happening with Ka*e Group? A week overdue now. Supposedly funds were received by AC but for some unknown reason not allocated to lenders. Will we be receiving a cheque in the post? Chris aiming to sort Friday www.p2pindependentforum.com/post/28836
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Post by Duane Dibley on Nov 18, 2014 19:03:57 GMT
Was that last Friday, this Friday or just some random Friday sometime in the future?
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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
Posts: 10,852
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Post by ilmoro on Nov 18, 2014 19:17:05 GMT
Was that last Friday, this Friday or just some random Friday sometime in the future? Last Friday:-(
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mikes1531
Member of DD Central
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Post by mikes1531 on Nov 18, 2014 19:33:53 GMT
Was that last Friday, this Friday or just some random Friday sometime in the future? There were a couple of questions raised last night and at lunchtime today in the Q&A for this loan. The responses were... This problem has been around for two weeks now. I am not impressed!
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mikeb
Posts: 1,052
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Post by mikeb on Nov 18, 2014 20:10:53 GMT
It's been around lots longer than that, somewhere around March was the origination for me, when I bought loan parts in loan #40. It "showed up" at the start of October, when a new way of calculating things went off (Oct 3rd ish?) and holdings unbalanced. I had been in blissful ignorance till then  It became a big deal when the problems fixing this error have somehow stopped the interest being paid out. |
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taca
Posts: 29
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Post by taca on Nov 18, 2014 20:17:48 GMT
Whilst we're looking at this loan, anyone know where I can find what rate of interest I'm getting on my units in this (and the other inverse-auctioned loans)?
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andy2001
Member of DD Central
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Post by andy2001 on Nov 18, 2014 21:43:27 GMT
Whilst we're looking at this loan, anyone know where I can find what rate of interest I'm getting on my units in this (and the other inverse-auctioned loans)? You can look at manual investment records and find the rate that each loan part was Purchased at. But this will be hard work. Other than that it seems Assetz don't think it that important enough to let us see what rate we are getting on reverse auctions loans, so there's no easy way to find out.
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mikeb
Posts: 1,052
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Post by mikeb on Nov 19, 2014 18:36:58 GMT
+1 on the looking at your old statements -- that's how I know what my (weighted) APR is for this one.
As to not being important enough to fix, there's plenty of other stuff that needs tweaking first, in my opinion. And more importantly, there's only 2? reverse auctions on the platform, there won't be any more, so it's not something that will keep occurring and throwing your figures further off.
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mikes1531
Member of DD Central
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Post by mikes1531 on Nov 19, 2014 23:16:47 GMT
As to not being important enough to fix, there's plenty of other stuff that needs tweaking first, in my opinion. And this loan is a good example. The November payment was received two weeks ago but AC have an IT problem that has prevented it being credited to individual lender accounts. The IT department say they're working on a solution, but don't seem to know when the solution will be available. I am not impressed!
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Post by elrond on Nov 20, 2014 18:26:59 GMT
Now over two weeks and no payment to lenders. Still no comment on progress of working out the IT problem. The issue of extra payment to lenders for loss of interest on this late payment has not been answered very clearly.
Is there anything in T and Cs about late payment due to AC procedures rather than late borrower payments?
Come on AC, Chris, Andrew, can we be told what is going on?
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niceguy37
Member of DD Central
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Post by niceguy37 on Nov 21, 2014 16:42:05 GMT
I've just received a principal repayment (16:03), thank you, but still no interest. Edit 16:43 Interest paid.
I was expecting more (£26.47 based on Accrued Interest display - I've not done the calculations myself) but got only £12.87. £26.47 still showing as accrued.
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Post by davidricketts1 on Nov 21, 2014 17:16:45 GMT
I've just received a principal repayment (16:03), thank you, but still no interest. Edit 16:43 Interest paid. I was expecting more (£26.47 based on Accrued Interest display - I've not done the calculations myself) but got only £12.87. £26.47 still showing as accrued. Pretty sure the interest payment will only cover the period up to the last repayment date. Interest will carry on accruing up until next repayment date and providing IT issues all sorted and this one paid on time then everything should reset at that point.
If that isn't the case then one for chris.
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Post by chris on Nov 21, 2014 17:26:53 GMT
I've just received a principal repayment (16:03), thank you, but still no interest. Edit 16:43 Interest paid. I was expecting more (£26.47 based on Accrued Interest display - I've not done the calculations myself) but got only £12.87. £26.47 still showing as accrued. Pretty sure the interest payment will only cover the period up to the last repayment date. Interest will carry on accruing up until next repayment date and providing IT issues all sorted and this one paid on time then everything should reset at that point.
If that isn't the case then one for chris.
Indeed. Interest is only paid up to the repayment date and then the accrued interest will reflect your position as of today based on the interest earned since the last payment date.
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