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Post by overthehill on May 1, 2020 8:04:24 GMT
Would someone mind providing a quick answer to why my April interest payments are only 64% of what they should e.g. £64 instead of £100. As I understand it, the additional lender fee starts today, 1st of May.
They have also removed the accrued interest from the new dashboard so another account which only has defaulted loans no longer shows me how much interest am I due if/when loans are repaid.
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ian
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Post by ian on May 1, 2020 8:14:49 GMT
None paid whatsoever on my account ... must be an issue with deduction of lender fees & Beta  |
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cb25
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Post by cb25 on May 1, 2020 8:18:30 GMT
None paid whatsoever on my account ... must be an issue with deduction of lender fees & Beta Yesterday's email from AC mentioned they may be later in the day, but still on the 1st of the month.
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iann
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Post by iann on May 1, 2020 8:18:47 GMT
I decided to ask AC. Interest is still due to be paid today, there should be an email on its way out to everyone.
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iann
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Post by iann on May 1, 2020 8:23:38 GMT
I decided to ask AC. Interest is still due to be paid today, there should be an email on its way out to everyone. Though they may have been referring to yesterday's email...
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iRobot
Member of DD Central
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Likes: 2,450
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Post by iRobot on May 1, 2020 8:39:14 GMT
Would someone mind providing a quick answer to why my April interest payments are only 64% of what they should e.g. £64 instead of £100. As I understand it, the additional lender fee starts today, 1st of May. They have also removed the accrued interest from the new dashboard so another account which only has defaulted loans no longer shows me how much interest am I due if/when loans are repaid. As others have mentioned, the answer to your first query may be in the email from 30/04. In case you haven't received it, I posted a link to it here. Re: the dashboard, apologies if this is stating the obvious, but do you have the relevant setting enabled in Dashboard Settings? 
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Post by overthehill on May 1, 2020 9:09:32 GMT
Would someone mind providing a quick answer to why my April interest payments are only 64% of what they should e.g. £64 instead of £100. As I understand it, the additional lender fee starts today, 1st of May. They have also removed the accrued interest from the new dashboard so another account which only has defaulted loans no longer shows me how much interest am I due if/when loans are repaid. As others have mentioned, the answer to your first query may be in the email from 30/04. In case you haven't received it, I posted a link to it here. Re: the dashboard, apologies if this is stating the obvious, but do you have the relevant setting enabled in Dashboard Settings?
Thank you. So the lender fee applies to loans starting from April. In my case this still only accounts for half of the interest shortfall. I missed those 2 options in settings, hidden and no scroll bar! I'm sure the UI is better in the app, proper desktops are no longer the priority
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amphoria
Member of DD Central
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Post by amphoria on May 1, 2020 9:13:10 GMT
A lot of borrowers stopped paying interest at the start of April. This would result in reduced interest payments in the MLA and GBBA. If you look at the Repayments tab for the individual loans, you will see which ones have missed payments.
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Post by overthehill on May 1, 2020 9:21:43 GMT
As others have mentioned, the answer to your first query may be in the email from 30/04. In case you haven't received it, I posted a link to it here. Re: the dashboard, apologies if this is stating the obvious, but do you have the relevant setting enabled in Dashboard Settings?
Thank you. So the lender fee applies to loans starting from April. In my case this still only accounts for half of the interest shortfall. I missed those 2 options in settings, hidden and no scroll bar! I'm sure the UI is better in the app, proper desktops are no longer the priority
I don't know how to verify this as I don't monitor the accrued interest closely, but I'm assuming the missing interest from april has just been added to my accrued interest total due to missed borrower payments.
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amphoria
Member of DD Central
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Post by amphoria on May 1, 2020 10:22:11 GMT
That's how it works, although I don't monitor it closely either.
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Post by gravitykillz on May 1, 2020 11:18:49 GMT
Anyone recieved their interest yet ?
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dead-money
Rocket to the Moon
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Post by dead-money on May 1, 2020 12:08:21 GMT
Would someone mind providing a quick answer to why my April interest payments are only 64% of what they should e.g. £64 instead of £100. As I understand it, the additional lender fee starts today, 1st of May.
They have also removed the accrued interest from the new dashboard so another account which only has defaulted loans no longer shows me how much interest am I due if/when loans are repaid.
It may well be the case that AC now have to run several routines to allocate / reallocate interest, fees, etc. for April, so until Monday you probably won't have the full picture as to what's paid, accured and due.
As with much in life at the moment a little patience will go a long way.
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marky
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Post by marky on May 1, 2020 13:19:36 GMT
Anyone recieved their interest yet ? No - I've received nothing so I asked the online chat and they assured me it would be today and to contact them Monday if it didn't arrive! I've been a big supporter of AC but delaying interest payments (even by a few hours) at this sensitive time hardly inspires platform confidence. Marky
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m2btj
Member of DD Central
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Post by m2btj on May 1, 2020 14:10:32 GMT
No - I've received nothing so I asked the online chat and they assured me it would be today and to contact them Monday if it didn't arrive! I've been a big supporter of AC but delaying interest payments (even by a few hours) at this sensitive time hardly inspires platform confidence. Marky It is to be expected Marky, these are really difficult times. My partner and I have recieved no interest payments today but we are not worried at all. AC have stated almost payments are being processed manually. Absolutely right! I assume the interest has been credited but is not showing owing to the reduced working environment at Assetz just now. With people expected to wait months for a holiday refund I'm not quibbling about a day delay.
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ian
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Post by ian on May 1, 2020 14:40:22 GMT
This isn’t a big issue - however is another example of AC just getting it wrong.
Spoke to AC earlier this week they said they’d been inundated will calls Re the new platform - why change it in the middle of a pandemic when half your staff are furloughed!!!!!!!!!
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