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Post by firefly777 on Nov 20, 2016 19:55:05 GMT
I have several delayed loans, they are delayed for more than 30 days and Buyback should kick in. No interest received and without Buyback kicking in on those loans.
Contacted Twino and their replay is:
"Thank you for contacting us. We are currently experiencing a bug in transaction dates. Our IT team is working to fix it as soon as possible. You will receive the Schedule interest repayments of loans with past due dates right after the issue is resolved.
If you have any further questions, please do not hesitate to contact us.
Best regards,
TWINO Team"
After that they are not responding anymore to emails.
Anyone else experiencing that? On German forum some members have similar experience.
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Post by firefly777 on Nov 21, 2016 8:17:51 GMT
Loan delayed more than 30 days, no Buyback? Attachments:
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mp
Posts: 21
Likes: 10
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Post by mp on Nov 21, 2016 9:22:57 GMT
It is quite unfortunate to hear that this is still happening, it seems to be systematic problem of the platform. Similar issue was recently discussed also in another thread: p2pindependentforum.com/thread/6715/back-issues-delayed-loan-portfolio where I reported similar issues happening in August, and which were corrected very slowly by Twino. Twino failing to correct issues in a timely manner is not increasing my confidence to the platform. I would expect more from a company and IT system handling investments worth many millions of Euros. MP
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mp
Posts: 21
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Post by mp on Nov 21, 2016 9:40:26 GMT
Also just checked the account statement and noticed that there are no transactions for the last weekend (Nov 19-20th).
In the past Twino has been booking entries also for every day during weekends. I have entries booked in my account statement for every single day since many months, so this is an anomaly.
Maybe their IT team is doing maintenance work... and of course not informing to us investors at all...
MP
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Post by firefly777 on Nov 21, 2016 14:42:32 GMT
Got an aswer from Twino, issue is not resolved yet. Put all my delayed loans on sale on secondary market and they are all gone Attachments:
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mp
Posts: 21
Likes: 10
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Post by mp on Nov 22, 2016 8:10:30 GMT
I also reported the missing bookings from last weekend, and the response (as I expected) was:
"Unfortunately there is a bug in payment processing and display, and our IT team is working to fix it as soon as possible."
mp
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Post by pedro29 on Dec 3, 2016 13:15:40 GMT
Loan delayed more than 30 days, no Buyback? Hi firefly, I have the same problem... Can you tell me how can we see the loan detail? After this new layout i have no idea how!
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Post by firefly777 on Dec 3, 2016 16:56:41 GMT
Hi firefly, I have the same problem... Can you tell me how can we see the loan detail? After this new layout i have no idea how! Doubleclick
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Post by pedro29 on Dec 30, 2016 21:06:03 GMT
I got a set of loans that were extended for the 7th time now. According to Twino, they will buy my loan back if the borrower asks for 7th extension...Is this part of the BUG too?
ps. Those loans got bought now. It is working after all.
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qt
New Member
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Post by qt on Jan 2, 2017 9:11:37 GMT
hi, have anybody calculated also paid interests, by mine calculations I get always bit less as shown in borrower scedule have anybody noticed this? for example into loan 06-183815002 in sum 788.12 I invested 120€ first interest payment for borrower scedule shows interest 8.54€ I got just 1.28 but calculation - 8.54/788.12x120 tells 1.30€
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Post by yoica on Jan 3, 2017 8:20:14 GMT
A 06- loan so I'm assuming 13% interest.
13% / 12 months * 120€ = 1.30€ which matches your expectation
I haven't tracked my Twino loans actively for the past couple of months, but when I started I tracked everything for 6 months and it always matched. One thing I did noticed is that sometimes interest payments can be spread out over multiple lines in your account statement. So I would check that first and if that is not the case send Twino an email concerning this.
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kulerucket
Member of DD Central
Posts: 336
Likes: 93
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Post by kulerucket on Jan 3, 2017 9:06:42 GMT
I have also tracked various investments passing through different states (e.g. Current=>Delayed=>Extended=>Paid/Buyback), and whatever states they go through, the interest always works out exactly and is paid to the day that the loan is either paid or bought back. I don't bother now and just leave my Auto investors do their own thing.
I've never understood why so many people seem to sell delayed/extended loans. You just loose the interest for the days since the last payment and so you might as well just let them play out unless you really really need that money. In fact liquidity on Extended(3+) loans is better than those paid on time because the buyback will kick in long before the end of the loan term. I quite like buying up 24m 13% loans with multiple extensions already. It's like getting a 13% loan on a 3m investment.
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Post by hansihinter on Jan 27, 2017 20:48:48 GMT
Thats interesting...i cant find the secondary market on Twino though. Is that because loans with a delayed status by default are the secondary market?
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Post by hansihinter on Jan 27, 2017 20:50:03 GMT
... I've never understood why so many people seem to sell delayed/extended loans. You just loose the interest for the days since the last payment and so you might as well just let them play out unless you really really need that money. In fact liquidity on Extended(3+) loans is better than those paid on time because the buyback will kick in long before the end of the loan term. I quite like buying up 24m 13% loans with multiple extensions already. It's like getting a 13% loan on a 3m investment. Was referring to this oin the above reply.
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kulerucket
Member of DD Central
Posts: 336
Likes: 93
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Post by kulerucket on Jan 28, 2017 14:39:32 GMT
Thats interesting...i cant find the secondary market on Twino though. Is that because loans with a delayed status by default are the secondary market? See my answer here: secondary market
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