skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
Posts: 787 
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Post by skippyonspeed on Sept 20, 2016 18:54:06 GMT
After a lender vote at the beginning of August loan #45 has been "allegedly" accrueing default interest.......yet 6 weeks on and the Loan Book is STILL showing and calculating the standard rate......Somebody brought it up on AC 3 weeks ago as shown below "Q At the time of the recent vote AC said, with respect to Option A, "Under this option, interest would accrue at default rate on the whole loan, following the conclusion of the vote." The investors voted for Option A, yet the interest rate for this loan still appears to be 13% as before. Is interest actually accruing at 13% or the default rate? If the latter, what is the default rate, and when will this appear on the website page for this loan? Asked by ******** 31st Aug 2016 at 19:53 A Thank you for your question. You are correct that interest should be accruing at the default rate. Unfortunately some internal work needs to be completed before the website can be updated however, when this is complete the accrual date will be backdated as previously agreed. We trust this answers your question completely. If you feel you need to contact us further, please email us at: enquiries@assetzcapital.co.uk. Answered by Assetz Capital 2nd Sep 2016 at 12:51" And this is NOT the 1st offense of this tardiness.........how hard can it be?  |
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mikeb
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Post by mikeb on Sept 21, 2016 18:35:14 GMT
And this is exactly why, in another thread, someone is actually advocating removing the accrued interest figure from your display. To prevent you getting "confused" by facts and stuff  And noticing that sometimes there is a disconnect between what AC say will happen, and the amounts being calculated and paid. It's only when people start asking on the Q&A or here that it gets picked up. But not always fixed -- "manual corrections to be applied later" seem to get forgotten about. You're right, it's not exactly the first time this has happened, and keeping track of the disparities is a necessary nuisance |
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
Posts: 787
Likes: 424
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Post by skippyonspeed on Sept 28, 2016 19:57:28 GMT
Nearly 2 months now and STILL the Loan Book has not been updated........and not EVEN a response here........very disappointing
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mikeb
Posts: 1,052
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Post by mikeb on Oct 1, 2016 17:00:36 GMT
Disappointing, but perfectly in line with current policy on anything that may count as slightly awkward to answer. Best left ignored. That's the new transparency, you see. FC are also using it on their property loanshambles too.
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Post by andrewholgate on Oct 5, 2016 10:07:21 GMT
Harsh
Not acceptable and I will go and bang heads.
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Post by Butch Cassidy on Oct 5, 2016 10:50:54 GMT
Harsh Not acceptable and I will go and bang heads. This goes to the wider issue of how much use the Q&A is - I have lost count of the times that it has been reported on here that questions have been deleted, unanswered or a completely different question answered but investors have been told either it doesn't happen, or a totally spurious excuse that some opinion was stated & not a direct question; whilst I would totally agree that if anything offensive, untrue or misleading is posted it should be edited or deleted but this option has been left far too open to abuse & just antagonises investors even further, who on the whole post things of concern or genuine queries - DELETION SHOULD BE A LAST RESORT & ONLY USED VERY SPARINGLY, NOT THE DEFAULT ANSWER TO DIFFICULT QUESTIONS.
Q&A used to be a useful DD tool but as most loans now only appear for a few days only prior to drawdown, only to be totally consumed by the QAA account then MLIA investors probably can use their time better elsewhere.
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mikeb
Posts: 1,052
Likes: 463
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Post by mikeb on Oct 5, 2016 18:07:33 GMT
Harsh Not acceptable and I will go and bang heads. Harsh? ... so that public/lenders statement on unpaid pre-drawdown interest you've promised, and promised, and was ready to release subject to spell checking, and ... is still nowhere to be seen??? What are we now, at least 2 years of patient-turning-to-irritable waiting since the original money was due? Given the runaround, deflection and completely-ignore-it I've had over this particular issue (can't speak for other lenders, but I know there are others being held at bay with holding responses), I stand by my comment. If you want a full timeline of all the failures of AC to honestly and openly address this particular issue, I'll post them. Not a problem.
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shimself
Member of DD Central
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Post by shimself on Oct 6, 2016 8:20:32 GMT
I think you've got the response that you need MikeB and kudos to you. Harsh is accurate (as in harsh but fair)
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Post by andrewholgate on Oct 6, 2016 9:36:39 GMT
Harsh Not acceptable and I will go and bang heads. Harsh? ... so that public/lenders statement on unpaid pre-drawdown interest you've promised, and promised, and was ready to release subject to spell checking, and ... is still nowhere to be seen??? What are we now, at least 2 years of patient-turning-to-irritable waiting since the original money was due? Given the runaround, deflection and completely-ignore-it I've had over this particular issue (can't speak for other lenders, but I know there are others being held at bay with holding responses), I stand by my comment. If you want a full timeline of all the failures of AC to honestly and openly address this particular issue, I'll post them. Not a problem. Anyone can approach me directly via PM or on my email andrew@assetzcapital.co.uk and I will listen to concerns. That offer is open to you mikeb and I would welcome your comments.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
Posts: 787
Likes: 424
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Post by skippyonspeed on Oct 6, 2016 17:31:22 GMT
Hark!....is that the sound of AH 'banging heads' I hear.....no, it's neighbour's teenage kids closing their bedroom doors!!  |
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mikeb
Posts: 1,052
Likes: 463
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Post by mikeb on Oct 9, 2016 19:25:09 GMT
If you want a full timeline of all the failures of AC to honestly and openly address this particular issue, I'll post them. Not a problem. Anyone can approach me directly via PM or on my email andrew@assetzcapital.co.uk and I will listen to concerns. That offer is open to you mikeb and I would welcome your comments. As per your offer, you have email.
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Post by andrewholgate on Oct 10, 2016 8:02:41 GMT
Acknowledging receipt.
I'm at a conference for 2 days and travelling on Wednesday/Thursday. I'll endeavour to respond within 7 days
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mikeb
Posts: 1,052
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Post by mikeb on Oct 15, 2016 17:58:17 GMT
Thanks for replying, and apology accepted. Current situation on these loans -- even if it is somewhat at odds with previous statements made -- now clearer, and January 2017 should see a more official/public announcement.
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Post by andrewholgate on Oct 17, 2016 9:25:03 GMT
My pleasure.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
Posts: 787
Likes: 424
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Post by skippyonspeed on Oct 28, 2016 18:08:59 GMT
STILL no change zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
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And noticing that sometimes there is a disconnect between what AC say will happen, and the amounts being calculated and paid.
