nick
Member of DD Central
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Post by nick on Aug 24, 2016 15:24:56 GMT
So I'm assuming that as this loan hasn't yet been cancelled after 5 days since the update, circumstances must have changed and that there is still a chance that it may draw down or at least they are investing more time before coming to a decision? I can't think of any other reason why they would continue to incur funding costs?
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Post by dualinvestor on Aug 24, 2016 15:45:16 GMT
So I'm assuming that as this loan hasn't yet been cancelled after 5 days since the update, circumstances must have changed and that there is still a chance that it may draw down or at least they are investing more time before coming to a decision? I can't think of any other reason why they would continue to incur funding costs? Maybe the interest is coming from advance fee paid by the borrower and SS are waiting to exhaust all of that before returning the funds.
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nick
Member of DD Central
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Likes: 825
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Post by nick on Aug 24, 2016 15:51:14 GMT
So I'm assuming that as this loan hasn't yet been cancelled after 5 days since the update, circumstances must have changed and that there is still a chance that it may draw down or at least they are investing more time before coming to a decision? I can't think of any other reason why they would continue to incur funding costs? Maybe the interest is coming from advance fee paid by the borrower and SS are waiting to exhaust all of that before returning the funds. Maybe. It still represents an unnecessary cost to SS and can't see why they should be happy to pass all the value of the advance fee to us?
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Post by dualinvestor on Aug 24, 2016 15:58:17 GMT
Maybe the interest is coming from advance fee paid by the borrower and SS are waiting to exhaust all of that before returning the funds. Maybe. It still represents an unnecessary cost to SS and can't see why they should be happy to pass all the value of the advance fee to us? Maybe not, the advance fees might be interest related and the normal split is 2/3 lenders, 1/3 SS, so they might be entitled to a third and have to refund any not accrued. Unfortunately these arrangements are never disclosed and will always be opaque to us poor mortals 
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jcb208
Member of DD Central
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Post by jcb208 on Aug 24, 2016 17:11:25 GMT
I asked Savingstream when this loan is due to be canceled the reply I got was
"We are in ongoing discussions with the borrower and I cannot currently offer a timescale, but you will receive interest in the meantime"
So take it with a pinch of salt what will happen next
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Aug 24, 2016 17:48:30 GMT
I asked Savingstream when this loan is due to be canceled the reply I got was
"We are in ongoing discussions with the borrower and I cannot currently offer a timescale, but you will receive interest in the meantime"
So take it with a pinch of salt what will happen next I take all SS updates with a pinch large cellar of salt.  PS I've had to go out and buy a 1.5kg bag for PBL058 alone.
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fp
Posts: 1,008
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Post by fp on Aug 31, 2016 14:12:18 GMT
This has just vanished, now showing as repaid, but not on my balance..... moment of hysteria there wondering where three grand had vanished to  |
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
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Post by cooling_dude on Aug 31, 2016 14:15:44 GMT
This has just vanished, now showing as repaid, but not on my balance..... moment of hysteria there wondering where three grand had vanished to Looks like they have been waiting for the PIPELINE LOANS & tomorrows interest. Lots of money that needs reinvesting.
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treeman
Member of DD Central
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Post by treeman on Aug 31, 2016 14:19:20 GMT
This has just vanished, now showing as repaid, but not on my balance..... moment of hysteria there wondering where three grand had vanished to Now showing on the repaid list
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jcb208
Member of DD Central
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Post by jcb208 on Aug 31, 2016 14:26:01 GMT
Last thing a lot of people including me needed , interest paying day tomorrow so lots of money to invest but only the old dated loans on the SM
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