bugs4me
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Post by bugs4me on Jan 25, 2015 11:41:18 GMT
They should just roll the due date for any payment that falls on a weekend until the Monday. Believe it's all to do with payments being credited manually and until that happens the IT system kicks in with an overdue flag. It was only a few weeks ago IIRC that a couple of manual payments were credited to the wrong month and it wasn't possible to reverse these payments out and correct the suspension. All was sorted when the January payments were made but the system does not have the flexibility to allow manual intervention - or so it would appear. Maybe AC could modify the system to build in some sort of flexibility, say 48 hours or so but it's probably not high on their priorities with everything else going on.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 25, 2015 12:27:44 GMT
They should just roll the due date for any payment that falls on a weekend until the Monday. Believe it's all to do with payments being credited manually and until that happens the IT system kicks in with an overdue flag. It was only a few weeks ago IIRC that a couple of manual payments were credited to the wrong month and it wasn't possible to reverse these payments out and correct the suspension. All was sorted when the January payments were made but the system does not have the flexibility to allow manual intervention - or so it would appear. Maybe AC could modify the system to build in some sort of flexibility, say 48 hours or so but it's probably not high on their priorities with everything else going on. Yes, weekends off, a bad habit that P2P platforms have caught from the established banks. Shouldnt be allowed!  (Suppose I should get up now 
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Post by davidricketts1 on Jan 26, 2015 9:25:53 GMT
Mix up between borrower and us here.
They thought that we would claim the funds via direct debit - we're not set up to do that (yet).
Payment has been made this morning and we have the funds but I'm now getting an error message when I try to distribute the funds. I've asked chris to have a look for me.
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Post by davidricketts1 on Jan 27, 2015 16:37:54 GMT
All
Payment has now been made and funds should have been distributed to your accounts.
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Post by solicitorious on Jan 27, 2015 17:43:45 GMT
Could you state payment of what, exactly? So some of us don't have to go around hunting to discover what the problem was...
Thanks.
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jonno
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nil satis nisi optimum
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Post by jonno on Jan 27, 2015 18:36:23 GMT
Could you state payment of what, exactly? So some of us don't have to go around hunting to discover what the problem was... Thanks. : David is referring to the January repayment on the Midlands Engineering Business Loan. Because the repayment date fell on a weekend and therefore not credited to the loan, the loan appeared to go into default and investment was stalled.The problem was then exacerbated by an IT issue which further delayed investors' accounts being credited.The issue has now been resolved and the Jan repayment has been correctly allocated.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 27, 2015 18:55:57 GMT
Though oddly I have two entries for principal, one of which takes the definition of shrapnel to an extreme  |
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acorn
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Post by acorn on Jan 27, 2015 22:30:37 GMT
Could you state payment of what, exactly? So some of us don't have to go around hunting to discover what the problem was... Thanks. : David is referring to the January repayment on the Midlands Engineering Business Loan. Because the repayment date fell on a weekend and therefore not credited to the loan, the loan appeared to go into default and investment was stalled.The problem was then exacerbated by an IT issue which further delayed investors' accounts being credited.The issue has now been resolved and the Jan repayment has been correctly allocated. Payment date was actually Friday, 23rd but, due to apparent miscommunication between borrower and Assetz, was not received until Monday, 26th, and a minor IT issue meant it wasn't distributed until today, 27th. Jan. These things happen from time to time but, since the reason for the delay is not always clear at the time, it is useful to be aware of it in case something more serious is behind the delay as oldgrumpy pointed out earlier. I also had a second payment of nano-shrapnell - another 1000 like that and I'll have 3p+ 
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mikes1531
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Post by mikes1531 on Jan 28, 2015 3:22:43 GMT
Though oddly I have two entries for principal, one of which takes the definition of shrapnel to an extreme Looking at the repayment schedule, it looks like the principal payment of £2,541.21 was paid in two bits -- £2,537.98 and £3.23. That second payment must have been what produced the micro-shrapnel.
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Post by davidricketts1 on Jan 28, 2015 8:43:45 GMT
Though oddly I have two entries for principal, one of which takes the definition of shrapnel to an extreme Looking at the repayment schedule, it looks like the principal payment of £2,541.21 was paid in two bits -- £2,537.98 and £3.23. That second payment must have been what produced the micro-shrapnel. Correct mikes1531.
Not sure what happened but the principal payment was partially repaid on the first go.
chris is looking into into.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Jan 28, 2015 19:20:43 GMT
They should just roll the due date for any payment that falls on a weekend until the Monday. What, like your credit card company does?  Direct debit payments roll forwards like that, but all other payments due by you on a weekend need to be paid by the Friday, surely? Don't see why we should allow our borrowers to make late payments, any more than my creditors allow me to.
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jonno
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nil satis nisi optimum
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Post by jonno on Jan 28, 2015 19:46:03 GMT
They should just roll the due date for any payment that falls on a weekend until the Monday. What, like your credit card company does? Direct debit payments roll forwards like that, but all other payments due by you on a weekend need to be paid by the Friday, surely? Don't see why we should allow our borrowers to make late payments, any more than my creditors allow me to. I do enjoy your ramblins rose
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bugs4me
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Post by bugs4me on Jan 28, 2015 21:15:14 GMT
They should just roll the due date for any payment that falls on a weekend until the Monday. What, like your credit card company does? Direct debit payments roll forwards like that, but all other payments due by you on a weekend need to be paid by the Friday, surely? Don't see why we should allow our borrowers to make late payments, any more than my creditors allow me to. When AC are able to take DD's then no doubt it will sort itself out. Until then, we'll just have to put up with the odd bit of inconvenience.
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mikes1531
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Post by mikes1531 on Jan 29, 2015 4:51:33 GMT
When AC are able to take DD's then no doubt it will sort itself out. Until then, we'll just have to put up with the odd bit of inconvenience. My first thought was to suggest this called for ilmoro's hat. Then I thought I was being a bit uncharitable to AC. After all, it's not quite a year yet since the Go Cardless option went away and AC said they were working on a replacement procedure. 
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bg
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Post by bg on Jan 29, 2015 9:00:30 GMT
They should just roll the due date for any payment that falls on a weekend until the Monday. What, like your credit card company does? Direct debit payments roll forwards like that, but all other payments due by you on a weekend need to be paid by the Friday, surely? Don't see why we should allow our borrowers to make late payments, any more than my creditors allow me to. I'm not fussed if they roll forward or back....I just don't think loans should be suspended because of this known issue!
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Direct debit payments roll forwards like that, but all other payments due by you on a weekend need to be paid by the Friday, surely? Don't see why we should allow our borrowers to make late payments, any more than my creditors allow me to.