Mick
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Post by Mick on Sept 16, 2017 13:30:34 GMT
About £350.00p Missing!
-£13.25 in loan 331
This sort of thing is not good, it puts doubt in your mind about perhaps small sums are disapearing and not getting noticed.
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Post by chielamangus on Sept 16, 2017 13:56:06 GMT
That is quite possible without any error on AC's part. Ah - how would that occur? I only instructed a sale for the amount I owned, and there hasn't been a capital repayment to that loan
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Post by chielamangus on Sept 16, 2017 13:59:44 GMT
That is quite possible without any error on AC's part. Ah - how would that occur? I only instructed a sale for the amount I owned, and there hasn't been a capital repayment to that loan. My 333 & 395 are "normal" - no aberrations. I also have positive sale instructions where I don't hold a loan because its been overtaken by events. In your case, I cannot explain it.
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IFISAcava
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Post by IFISAcava on Sept 16, 2017 16:01:16 GMT
Ah - how would that occur? I only instructed a sale for the amount I owned, and there hasn't been a capital repayment to that loan. My 333 & 395 are "normal" - no aberrations. I also have positive sale instructions where I don't hold a loan because its been overtaken by events. In your case, I cannot explain it. Maybe it's a red herring. Anyhow, I too have dropped £141 overnight. Must be that pesky #331, which is still showing negative.
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sl75
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Post by sl75 on Sept 16, 2017 16:49:07 GMT
About £350.00p Missing! -£13.25 in loan 331 This sort of thing is not good, it puts doubt in your mind about perhaps small sums are disapearing and not getting noticed. From what I understand, the back-end accounting systems (that deal with actual movements of money) are solid and robust, and it's only the front-end accounting systems (the ones that massage the numbers for display via the website, but which also account for your "balance" in loans) that are a little flakey... ... at least AC staff are now aware of how flakey the systems are, and thus suspend loans when doing "risky" operations to avoid these display errors triggering unwanted trades.
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Post by jevans4949 on Sept 16, 2017 17:45:47 GMT
I had this happen a few months ago; £8.5k balance suddenly dropped by about £500. Then suddenly it jumped up by a similar amount. Never got round to figuring out why, and anyway the evidence for the previous balance would have disappeared. My balance hasn't suffered at the time of writing this, though. Maybe we need an explanation of how it's calculated. chris? |
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Esmeralda
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Post by Esmeralda on Sept 16, 2017 22:01:18 GMT
My balance has lost £95.28 so I've emailed them. This happened to me months ago and it was never rectified. My balance went down overnight by about £25 and when I emailed AC they said they couldn't find anything wrong and I never got it back.
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Esmeralda
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Post by Esmeralda on Sept 16, 2017 22:27:52 GMT
Fortunately I took a screenshot of my dashboard "Your total investment" balance on 12th September and it's more than tonight's total so I've been able to email those to AC as evidence that there's been a reduction, and they'll see that I haven't made any withdrawal at all so they can't deny something's gone wrong this time.
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IFISAcava
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Post by IFISAcava on Sept 16, 2017 23:00:40 GMT
Fortunately I took a screenshot of my dashboard "Your total investment" balance on 12th September and it's more than tonight's total so I've been able to email those to AC as evidence that there's been a reduction, and they'll see that I haven't made any withdrawal at all so they can't deny something's gone wrong this time. "Reports" then "Balance Statements" and selecting each date should tell you any reductions. Mine shows £141 less today than yesterday.
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IFISAcava
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Post by IFISAcava on Sept 16, 2017 23:02:52 GMT
My balance has lost £95.28 so I've emailed them. This happened to me months ago and it was never rectified. My balance went down overnight by about £25 and when I emailed AC they said they couldn't find anything wrong and I never got it back. This is all starting to get worrying - how can the balance drop unless there is a declared capital loss?
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Post by crabbyoldgit on Sept 17, 2017 6:35:26 GMT
Come back from holiday Chris , we need you, its all going pear shaped . Ps Stuart/Andrew,upon return, chain him to the IT Terminal and never unlock it again  |
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Mick
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Post by Mick on Sept 17, 2017 7:31:09 GMT
About £350.00p Missing! -£13.25 in loan 331 This sort of thing is not good, it puts doubt in your mind about perhaps small sums are disapearing and not getting noticed. From what I understand, the back-end accounting systems (that deal with actual movements of money) are solid and robust, and it's only the front-end accounting systems (the ones that massage the numbers for display via the website, but which also account for your "balance" in loans) that are a little flakey... ... at least AC staff are now aware of how flakey the systems are, and thus suspend loans when doing "risky" operations to avoid these display errors triggering unwanted trades. Who have you been assured that the 'Back room system' is robust by........ Perhaps the people with the ''Flakey'' front room system?
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Mick
Be nice... People respond.
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Post by Mick on Sept 17, 2017 7:40:38 GMT
I wonder, at times like this, when Thousands perhaps Millions of pounds go missing, ( Could This Be a Hack) if an emergency team could be alerted. Its bad enough having money go missing willi nilli, but then having no contact over a whole weekend to deal with a serious problem , that potentially could be a hack is worrying this could be getting worse.
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Post by chris on Sept 17, 2017 7:59:33 GMT
It's not a hack it's bad data going into the system causing the value of loan units in the loan to be erroneous. You can see the lack of a final principal repayment on the loan repayments tab.
The way loan units are stored in the system is as a percentage of the loan as a whole, so if you had £100 invested in a £1,000 loan then it's stored in the system as you owning the decimal fraction of 0.1 of the loan, i.e. 10%. If the principal remaining in the loan is recalculated to be £500 then your holding in the loan would reduce to 10% of that, £50. That normally happens as part of a principal repayment where funds are distributed to lenders, however in this instance someone or something has caused the scheduled repayments to become erroneous leading to the principal outstanding to be calculated incorrectly and in turn loan units to be incorrectly valued.
I believe the loan is suspended from trading until Wednesday anyway due to a lender vote, which will be preventing trading of loan units at incorrect values, and the issue will be resolved within that timeframe. I cannot rush a fix through in the interim as issues like this need to be very carefully investigated to make sure that we get the revised figures correct and also properly investigate the causes so that we can take steps to prevent a repeat.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Sept 17, 2017 9:02:16 GMT
I am not an accountant and am some what baffled by frontroom and backroom systems and why there is any need to have two. I would have thought there would be an error check comparing both systems in constant use and freezing the system immediately a difference is spotted, I think double entry book keepng is the old manual comparison. As soon as difference spotted a team could then start looking into where the error occurred. Many errors seem to occur at the weekend usually on a Friday/Saturday interest calculation, so AC should have someone keeping an eye on things during this procedure until they find out what is causing it, because a recurring fault like this is totally unacceptabe, especially when AC boast that they work to an accuracy of 40 decimal places!!!!!!!!!!!!! My earlier post in this thread concerning the zeroing of the loan principal of #331, from what I can tell occurred sometime after the interest calculation in the early hours of Saturday morning..........so what triggered that, and why then. I only have about 20-30 loans in MLIA, so I wonder how many others go by unnoticed (especially in the all singing and dancing "black hole" accounts) After further investigation, I find I am down in my total invested sum, an extra mysterious £2.71+nanopants. Now, whether someone is fiddling with "Repaid" loan parts that STILL owe interest I don't know because that detail is hidden from us.  I'll ask AC again (3rd try) with biggest font!!!!.......... Please, Please, Please, Return "Repaid Loans" still owing interest to our Loan Books
That should do it peeps........maybe not, I think I saw ilmoro float by under a monster sized pink pig
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