borofan
Member of DD Central
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Post by borofan on Jun 15, 2016 12:05:05 GMT
I've been away for a few days and was not aware this joblot of new investments on the market today. So my balance has gone from a small positive one to minus 3k.
If I don't make up the deficit what happens?
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Post by retired2005 on Jun 15, 2016 12:09:22 GMT
I believe you have 48 hours to do so and if you dont SS (may) put them back on the SM
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Post by solicitorious on Jun 15, 2016 12:13:14 GMT
savingstream will, of course, demonstrate some flexibility this time, to account for giving its SM the biggest ever bang a week before Brexit... 
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SteveT
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Post by SteveT on Jun 15, 2016 12:18:23 GMT
If you know you won't be able to cover it, email SS and explain why so they can cancel your loan parts ASAP. That way they perhaps won't put you on the naughty list for next time.
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sl75
Posts: 2,092
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Post by sl75 on Jun 15, 2016 12:26:17 GMT
Worth also mentioning that the other way to fund the negative balance is by selling existing loan parts that you've held for at least 7 days (or partial slices of them).
For many loans it won't be "instant", but even some of the loans with long queues are churning through their selling queues quite quickly - there are a number of notable exceptions with slow-selling queues though.
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Post by meledor on Jun 15, 2016 12:26:39 GMT
And it is important if you can't access your account for a few days to make sure you switch off / clear prefund amounts. It's the nature of bridging finance that things can happen very quickly as in this case.
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Post by Deleted on Jun 15, 2016 13:06:50 GMT
I believe you have 48 hours to do so and if you dont SS (may) put them back on the SM It's 24 hours, I think it's shorter because the we are warned beforehand to get funds in place.
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Post by harvey on Jun 15, 2016 17:46:39 GMT
I've been away for a few days and was not aware this joblot of new investments on the market today. So my balance has gone from a small positive one to minus 3k. If I don't make up the deficit what happens? Saving stream come round your house, bundle you into the back of a van and then chain you to a tree outside their office in Portsmouth where you are left for 24hrs with a sign above your head inviting the public to pelt you with tomatoes. (.. I think they take your unpaid Investments off you and place them back on the secondary market and if you are a repeat offender then they might take sanctions against your account?)
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stevio
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Post by stevio on Jun 15, 2016 19:11:45 GMT
Has anyone actually had this happen? Everyone talks about what "will" happen based on what SS has said, but haven't heard anyone say it has actually happened?
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jun 15, 2016 19:20:54 GMT
Has anyone actually had this happen? Everyone talks about what "will" happen based on what SS has said, but haven't heard anyone say it has actually happened? Not long ago somebody posted complaining that their investments had been returned to the SM. I will see if I can find the post... Found It : p2pindependentforum.com/post/110697/thread
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Jeepers
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Post by Jeepers on Jun 15, 2016 19:25:01 GMT
All purchased parts within that month will be cancelled if you are a repeat offender... meaning you'll only retain interest in loans you've held since the previous month
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Liz
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Post by Liz on Jun 15, 2016 19:47:20 GMT
Has anyone actually had this happen? Everyone talks about what "will" happen based on what SS has said, but haven't heard anyone say it has actually happened? Not long ago somebody posted complaining that their investments had been returned to the SM. I will see if I can find the post... Nope, can't find it; maybe I dreamt it I remember that post, they were none too happy 
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ped
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Post by ped on Jun 15, 2016 19:52:04 GMT
Wasn't that post followed by an email from SS with the word gaming in it? Or have I done a 2+2=12%
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
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Post by cooling_dude on Jun 15, 2016 20:28:03 GMT
Has anyone actually had this happen? Everyone talks about what "will" happen based on what SS has said, but haven't heard anyone say it has actually happened? Not long ago somebody posted complaining that their investments had been returned to the SM. I will see if I can find the post...Got it... p2pindependentforum.com/post/110697/thread
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adrianc
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Post by adrianc on Jun 16, 2016 7:27:58 GMT
Oh, yes. I remember that now... TL,DR: Outrage because SS sold his newly-bought parts within 24hrs. Turned out he'd been running a -ve balance for days.
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