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Post by captainconfident on Aug 15, 2015 16:00:46 GMT
I haven't used TC for a month, and I've still got something stuck on suspense. I never properly understood how the site worked. How do I identify which loan the suspense item pertains to? Oh I feel so inadequate.
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Post by tybalt on Aug 15, 2015 17:01:08 GMT
Could you not have asked for something relatively easy like a proof of Fermat’s Last Theorem or a discourse on the Schleswig-Holstein Question . Login and click on the Dashboard Icon - Wait for about a minute while the system grinds away Click on the Blue Suspense Box Reset the ‘From date to say 1st June Click on Fetch Highlight the data and use Ctrl C Open Excel and Paste Special Text and autofit Column Width You will then have a list of Auction Offers in Black as positive and Bid Allocation Amount Dispursed in Red as negative. You should be able to find the items which make up the Suspense balance as being unmatched Offers. The suspense status means the auction has been completed and your bids are still in but the loan has not yet drawn down or ThinCats admin has not caught up yet. Failing that have a read through the manual or www.forum.thincats.net/forums/topic/the-suspense-account/
This ignores the problem of having bid at a variable rate on the Secondary Market because the auctions on that typically only last about a week
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Post by tybalt on Aug 15, 2015 17:15:58 GMT
Also after running the Dashboard if you scroll down the list of loans invested in those without a first repayment due date - at the bottom of the list unless you click on the arrow - will be in your Suspense Account. You still need to click on the Suspense account box to confirm the amount(s) which make up you balance.
NB in theory the New Software will be implemented at the end of August which should mean the suspense account listing is open item.
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Post by mrclondon on Aug 15, 2015 17:58:25 GMT
NB in theory the New Software will be implemented at the end of August Great theory ! However this is TC you are talking about. This is from para 16.5 of the draft 6 of the new T&C's that TC have released for crowd review: Each registration is recorded on the ThinCats “TC2.0” system as being either an individual or an organisation. This is different from the TC1.5 system that was in use until October 2015 where every user also had to have a unique “Organisation Name”.
Rather large hint that the changeover has slipped another couple of months. The TC feedback from the first rehearsal earlier this month was that whilst the migration procedures worked well, the TC 2.0 software needed more work, which kind of implied go live at the end of this month would be impractical.
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Post by captainconfident on Aug 15, 2015 18:29:49 GMT
Eurika! Oh... Uneurika. It s a secondary market purchase, I deduce.
OK, so the next question is, after a secondary market auction ends with your bid included, how long does the seller then have to accept the result of the auction? Or is it not up to them once the auction closes and the system takes care of it? Whys it taking so long? I've only been using TC for 2 years, so excuse the naive questions.
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Post by tybalt on Aug 15, 2015 20:08:41 GMT
I have never known of a secondary market purchase to take over two weeks. I suggest you try the process outlined above try and identify your purchase.
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pikestaff
Member of DD Central
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Post by pikestaff on Aug 15, 2015 20:23:32 GMT
If you think your suspense balance relates to a long-closed SM auction, you should email TC about it. SM purchases usually come out of suspense within a day or two after auction close, and waiting for the "seller" to decide should not be an issue. Extract from SM guide:
"Sellers on SM3 can refuse to sell a loan if the price offered is unacceptable but if you are likely to decide not to sell it is important that you inform us BEFORE the end of the auction by sending an email to resale@thincats.com . If we have not heard from you before the end of the auction we will assume that you accept the offer price and implement the sale accordingly."
As regards PM bids, there is an alternative to Tybalt's method. All PM bids in suspense are in the Dashboard at the bottom of the list of "Loans Invested In". They are the ones with no First Repayment Due Date. If you can't remember how much you bid on a loan you can find out as follows:
1. Click on the loan to select it. 2. Click on the blue View Loan Details button at the bottom of the page. 3. Navigate to the Auctions tab and then click on View. 4. Click on the Lender Alias header to sort bids by name. 5. Scroll through to find your bid(s).
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Post by bracknellboy on Aug 15, 2015 23:09:19 GMT
.... I've only been using TC for 2 years, so excuse the naive questions. You've only been using it for 2 years yet felt bold enough to use TCs secondary market system ? Well there in lies your problem ... what possibly led you to think that you could have mastered that in such a short space of time ? I do hope that you haven't tried to purchase a [refactored][refactored][refactored].... ^n interest only / qtlry payment / partially amortising / TLCx loan part and hope to have a scoobies as to what a fair discount / premium might be.
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Post by captainconfident on Aug 16, 2015 0:38:28 GMT
I do hope that you haven't tried to purchase a [refactored][refactored][refactored].... ^n interest only / qtlry payment / partially amortising / TLCx loan part and hope to have a scoobies as to what a fair discount / premium might be. Oh.....damn.
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