aj
Member of DD Central
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Post by aj on Dec 21, 2017 12:58:55 GMT
The accrued interest shown on the account summary page is incorrect.
My FC account is now empty, save about £400 of downgraded/overdue loans/bad debt. Apparently I only have £3.10 of accrued interest, despite £200 of loan at 11% not having made a payment since May.
What exactly does the £3.10 represent?
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Post by longjohn on Dec 22, 2017 11:17:08 GMT
The accrued interest shown on the account summary page is incorrect. My FC account is now empty, save about £400 of downgraded/overdue loans/bad debt. Apparently I only have £3.10 of accrued interest, despite £200 of loan at 11% not having made a payment since May. What exactly does the £3.10 represent? Fantasy money. The accrued interest is calculated on all your loans including bad debts. You wouldn't notice normally but when you clear out your account it becomes obvious. I also have some of this 'look what you might have got' money.
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aj
Member of DD Central
Posts: 348
Likes: 465
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Post by aj on Dec 22, 2017 11:58:45 GMT
If it were working correctly I'd expect to see a higher number? The £200 chunk alone has accrued more than £3.10.
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Post by GSV3MIaC on Dec 22, 2017 15:54:29 GMT
I believe it probably stops accruing when it turns into actual bad debt .. given the way FC handles bad debts, it is almost impossible to know for sure, and if they should ever accidentally make some sort of recovery payment, it gets really X-files weird. 8>.
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Post by longjohn on Dec 22, 2017 20:18:00 GMT
I believe it probably stops accruing when it turns into actual bad debt .. given the way FC handles bad debts, it is almost impossible to know for sure, and if they should ever accidentally make some sort of recovery payment, it gets really X-files weird. 8>. I think you are right. I was being confused a loan that is defaulted but being repaid by the guarantor. 13541 (A) - rejected whole loan. This is one of FC's 'funny' loans, Was live, then RBR and defaulted after second payment. It then transformed Phoenix like back into what looks like a normal loan (but RBR) and has been making payments by the guarantor on the original terms. Currently 29 payments made of 60. So, it's an unsaleable default but the loan book still shows it as a normal repaying A rated loan when I checked today. J
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Post by mikeyp on Mar 14, 2018 8:47:53 GMT
Anyone else found their Accrued interest figure a bit unstable recently? For the last few days mine has been a bit lower than I expected but today it has shot up by over 20%. OTOH, the Portfolio total figure seems to stabilise earlier in the day than before. Perhaps it's just that they're running the batch jobs in a different order.
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