robski
Member of DD Central
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Post by robski on Aug 10, 2018 8:31:00 GMT
I always assumed as everyone here has said that interest is paid on sold loan parts, however I noticed some odd behaviour this morning.
Yesterday I was selling up some bits n bobs to do a small withdrawl.
I noticed that the (MTAC910) Used Car Dealer Loan - 7 Month Term loan part was due to repay today and thought I would chance my arm that someone would buy it. They did almost immediately.
Today I notice that I received no interest for this loan part, I got the interest for parts 8-20, nothing for 7, the part I sold.
Whilst I only had a small amount in this loan the interest should still have paid me even if the fact I sold it the day before repayment was rounded down against me. I cannot see how I should have lost the whole months interest against a loan sold one day before repayment.
I have never noticed this behaviour before, but not sure i actually sold a loan the day before repayment, its nothing I have checked anyway, interest on sold parts.
Anyone else able to verify they have received interest lately for sold parts?
Its not the amount I am concerned about, its the principle as it may require a change to my selling behaviour.
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Post by MoneyThing on Aug 10, 2018 8:36:47 GMT
I always assumed as everyone here has said that interest is paid on sold loan parts, however I noticed some odd behaviour this morning. Yesterday I was selling up some bits n bobs to do a small withdrawl. I noticed that the (MTAC910) Used Car Dealer Loan - 7 Month Term loan part was due to repay today and thought I would chance my arm that someone would buy it. They did almost immediately. Today I notice that I received no interest for this loan part, I got the interest for parts 8-20, nothing for 7, the part I sold. Whilst I only had a small amount in this loan the interest should still have paid me even if the fact I sold it the day before repayment was rounded down against me. I cannot see how I should have lost the whole months interest against a loan sold one day before repayment. I have never noticed this behaviour before, but not sure i actually sold a loan the day before repayment, its nothing I have checked anyway, interest on sold parts. Anyone else able to verify they have received interest lately for sold parts? Its not the amount I am concerned about, its the principle as it may require a change to my selling behaviour. Morning. MTAC910 has not yet been repaid by the borrower. The funds are due in today at which time we will repay the capital & interest at the same time. Regards, Ed.
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robski
Member of DD Central
Posts: 772
Likes: 462
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Post by robski on Aug 10, 2018 8:37:49 GMT
Sorry replying to myself here, looking at sold loan parts it says interest due, not sure why I didn't check that earlier MoneyThing are you sure this is working correctly? |
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robski
Member of DD Central
Posts: 772
Likes: 462
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Post by robski on Aug 10, 2018 8:40:13 GMT
I always assumed as everyone here has said that interest is paid on sold loan parts, however I noticed some odd behaviour this morning. Yesterday I was selling up some bits n bobs to do a small withdrawl. I noticed that the (MTAC910) Used Car Dealer Loan - 7 Month Term loan part was due to repay today and thought I would chance my arm that someone would buy it. They did almost immediately. Today I notice that I received no interest for this loan part, I got the interest for parts 8-20, nothing for 7, the part I sold. Whilst I only had a small amount in this loan the interest should still have paid me even if the fact I sold it the day before repayment was rounded down against me. I cannot see how I should have lost the whole months interest against a loan sold one day before repayment. I have never noticed this behaviour before, but not sure i actually sold a loan the day before repayment, its nothing I have checked anyway, interest on sold parts. Anyone else able to verify they have received interest lately for sold parts? Its not the amount I am concerned about, its the principle as it may require a change to my selling behaviour. Morning. MTAC910 has not yet been repaid by the borrower. The funds are due in today at which time we will repay the capital & interest at the same time. Regards, Ed. Oh perfect, thanks Ed. As it was showing as ended I assumed had been repaid  Thanks for the prompt response
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Post by MoneyThing on Aug 10, 2018 8:40:32 GMT
Sorry replying to myself here, looking at sold loan parts it says interest due, not sure why I didn't check that earlier MoneyThing are you sure this is working correctly? Yes - perhaps take a look once MTAC910 has been repaid. If it doesn't balance after this please message me. Regards, Ed.
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robski
Member of DD Central
Posts: 772
Likes: 462
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Post by robski on Aug 10, 2018 8:47:49 GMT
Sorry replying to myself here, looking at sold loan parts it says interest due, not sure why I didn't check that earlier MoneyThing are you sure this is working correctly? Yes - perhaps take a look once MTAC910 has been repaid. If it doesn't balance after this please message me. Regards, Ed. Will do cheers But I expect it will work seemlessly as ever with you guys
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Post by MoneyThing on Aug 10, 2018 8:50:22 GMT
Yes - perhaps take a look once MTAC910 has been repaid. If it doesn't balance after this please message me. Regards, Ed. Will do cheers But I expect it will work seemlessly as ever with you guys Funnily enough, the borrower has just transferred the funds now. Once we have completed the partial repayment on MTAX780, we will then repay MTAC910. Regards, Ed.
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archie
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Post by archie on Aug 10, 2018 8:53:08 GMT
Morning. MTAC910 has not yet been repaid by the borrower. The funds are due in today at which time we will repay the capital & interest at the same time. Regards, Ed. Oh perfect, thanks Ed. As it was showing as ended I assumed had been repaid Thanks for the prompt response It's the way the software works, the loan will show under 'Completed' as soon as the end date arrives.
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Post by MoneyThing on Aug 10, 2018 9:30:18 GMT
Yes - perhaps take a look once MTAC910 has been repaid. If it doesn't balance after this please message me. Regards, Ed. Will do cheers But I expect it will work seemlessly as ever with you guys MTAC910 now repaid. All look ok now at your end? Regards, Ed.
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robski
Member of DD Central
Posts: 772
Likes: 462
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Post by robski on Aug 10, 2018 9:57:21 GMT
Just to confirm all is good Interest as expected, sorry for any false alarms! |
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