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Post by xordon on Jul 23, 2014 13:28:22 GMT
The loan being transferred is not doing it as I expected.
It is a little messy to take the money from the early repayment that was meant be transferred to new loan and put it into available funds.
If people are not careful what was earmarked to be transferred might get withdrawn of reinvested in other loans.
Only clue is the invested amount and outstanding value don't match with zero repayments on this new loan.
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markr
Member of DD Central
Posts: 766 
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Post by markr on Jul 23, 2014 14:05:23 GMT
I noticed that, and I deliberately used the funds to bid in other loans just to see what happens  I'll let you know! |
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Post by englebert69 on Jul 23, 2014 15:55:25 GMT
I note that repaid capital still sitting in account rather than allocated as new loan parts too. There is also no sign of an interest payment for now repaid loan for period from 24/06 on my statement. This is the first loan with transfer facility so me thinks technical/implementation difficulties but confident they'll sort it shortly from previous experience.
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Post by nickrebuildings on Jul 24, 2014 11:55:33 GMT
Afternoon everyone, We've now completed the debit side of the transaction, so balances should be normal again. This process was a first for us, but next time we should be able to do it all at once. markr - you may have a negative balance now!  |
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markr
Member of DD Central
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Post by markr on Jul 24, 2014 12:10:58 GMT
I do indeed have a negative balance, but it's only a "technical" negative since my bids in the marketplace are more than the deficit, and I presume I won't be able to bid more until my balance is positive again so it'll soon correct itself as repayments come in. My outstanding capital amount on the new loan hasn't been increased though, so at the moment the funds would appear to be in some kind of limbo.
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Post by xordon on Jul 24, 2014 12:19:35 GMT
yep the amounts and capital outstanding have yet to equal up for me too.
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Post by nickrebuildings on Jul 24, 2014 12:29:06 GMT
Thanks guys - I'll pass that on to the tech team so they can get that straightened out for you.
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Post by badger on Jul 24, 2014 16:09:10 GMT
I think the negative balances are due to a capital repayment by G*A in June.
In may case, at the point when I agreed to the transfer (May?), there was £440 outstanding so that is the amount I agreed to transfer. There was a capital repayment on 24/6/2014 which took the capital outstanding to £422. My statement shows that yesterday the £422 came back into my account from G*A, and today £440 has gone out. The negative balance is not a problem to me, as it will soon be covered by other repayments.
However I notice that G*A have got away with missing 2 weeks' interest. The last interest payment was 24th June, July interest was due today (24th), but the next repayment date for the new loan is 8th Aug.
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markr
Member of DD Central
Posts: 766
Likes: 426
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Post by markr on Jul 24, 2014 21:29:36 GMT
Uh ho, I've been found. I've had an email requesting that I put funds in or tell them which bids I'd like cancelled. It's a fair cop. I wonder if I was the only one.
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Post by englebert69 on Jul 29, 2014 21:53:41 GMT
Just checked my statement on rebs and transfer of capital from old to new there now.
However, still no sign of the month's interest from old loan.
I also note the 0.5% cashback is shown for my new money but not for the amount I transferred. I was expecting it for all as cashback icon showed on all my loan offers during bidding.
I may as well have just added more new money short term and forget the transfer if I was to lose interest and cashback !
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Post by englebert69 on Aug 5, 2014 12:46:45 GMT
FYI missing interest payment has now appeared on my statement.
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I'll let you know!
