benaj
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Post by benaj on Nov 4, 2019 12:17:16 GMT
Thanks for the clarity jonno and Ace Clearly that is a major change, last time I withdrew the pooled portion was paid same day and the sales a few days later. I suppose the next obvious question is when did anybody last get a payment out (looks look mine was a good while ago, when I emptied out and reset). My last cash WD was on 13 Aug. My ISA investments were finally all sold on 17 Sept after 45 days from WD request. ISA Transfer of funds was completed on 25 Sept. I am happy with the adventure on this platform, XIRR well over 11+%. PF bought back all the arrears and I do not have any defaults / losses. Speaking of withdrawal, I received PF bonus in September and I made 6 separate withdrawals to re-balance my position in P2P in September. Money received in the bank within 1-4 work days after being "released from investments". The selling time in July took longer in than my "instant" expectation, especially for those in arrears.
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trium
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Post by trium on Nov 4, 2019 13:38:33 GMT
Thanks for the clarity jonno and Ace Clearly that is a major change, last time I withdrew the pooled portion was paid same day and the sales a few days later. I suppose the next obvious question is when did anybody last get a payment out (looks look mine was a good while ago, when I emptied out and reset). I made a withdrawal by mistake (I was trying to merge two investments into one) on 27 July, all sold straight away and money in bank on 29th. This time 65% sold straight away, money said to have been deposited to my bank account on 25 Oct but still waiting. Remaining 35% remains unsold (double helping of the same 4 loans in two investments). Had a PF bonus today so some indication that the lights are still on perhaps
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Post by Badly Drawn Stickman on Nov 4, 2019 13:59:32 GMT
Thanks for the clarity jonno and Ace Clearly that is a major change, last time I withdrew the pooled portion was paid same day and the sales a few days later. I suppose the next obvious question is when did anybody last get a payment out (looks look mine was a good while ago, when I emptied out and reset). I made a withdrawal by mistake (I was trying to merge two investments into one) on 27 July, all sold straight away and money in bank on 29th. This time 65% sold straight away, money said to have been deposited to my bank account on 25 Oct but still waiting. Remaining 35% remains unsold (double helping of the same 4 loans in two investments). Had a PF bonus today so some indication that the lights are still on perhaps I have a small PF bonus payment as well today, I have just made a withdrawal request so can see how long it takes. Whilst not necessarily giving a guide to how a closure withdrawal would be processed, it will tell me if anything at all is getting paid out.
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oldtimer
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Post by oldtimer on Nov 4, 2019 14:07:02 GMT
I requested total withdrawal on 24 October. Just had payment of two thirds of it today
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Post by Ace on Nov 4, 2019 16:31:40 GMT
Just for clarity Ace have you received nothing, or did the (assuming fairly safely I suspect) pooled portion get paid and you eagerly await sale of loan parts? Nothing at all from 6 separate withdrawals of varying dates from 21st Oct. UPDATE: I received 4 "faster payment" payments in to my bank account today (4th Nov). 3 were initial payments from withdrawals that were requested on 21st, 25th and 25th Oct. The other was a final payment for a withdrawal that was requested on 7 Oct. My guess is that they're a bit short of staff and have let payment requests stack up and finally had a blitz on them today. Possibly prompted by the many recent conceded posters on here t recently. A bit of a joke sending "faster payments" when it takes so long to initiate them. In addition to this I have an accidental ISA withdrawal (my fault) that was requested on 7th Oct that says it made a payment on the website, but nothing has been received yet. I also have 2 internal ISA withdrawals that were requested on 8th Oct and 25th Oct that have not made any payments to my unassigned balance. The figures on the website for these investments make no sense at all. As an example: the info caption for the Investment Balance says " Investment Balance: Current Investments + Current Profit = Lent-Out + Pooled" yet these two sums differ by around £500. I also received a small PF payment today, for which I have now requested another withdrawal.
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trium
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Post by trium on Nov 4, 2019 17:08:45 GMT
Well it wasn't there at 12 noon but it is now so I too have now received the awaited withdrawal proceeds.
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jonno
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Post by jonno on Nov 4, 2019 17:20:53 GMT
I've received a small proportion of my withdrawal this afternoon.
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Post by Badly Drawn Stickman on Nov 4, 2019 17:33:32 GMT
Nothing at all from 6 separate withdrawals of varying dates from 21st Oct. UPDATE: I received 4 "faster payment" payments in to my bank account today (4th Nov). 3 were initial payments from withdrawals that were requested on 21st, 25th and 25th Oct. The other was a final payment for a withdrawal that was requested on 7 Oct. My guess is that they're a bit short of staff and have let payment requests stack up and finally had a blitz on them today. Possibly prompted by the many recent conceded posters on here t recently. A bit of a joke sending "faster payments" when it takes so long to initiate them. In addition to this I have an accidental ISA withdrawal (my fault) that was requested on 7th Oct that says it made a payment on the website, but nothing has been received yet. I also have 2 internal ISA withdrawals that were requested on 8th Oct and 25th Oct that have not made any payments to my unassigned balance. The figures on the website for these investments make no sense at all. As an example: the info caption for the Investment Balance says " Investment Balance: Current Investments + Current Profit = Lent-Out + Pooled" yet these two sums differ by around £500. I also received a small PF payment today, for which I have now requested another withdrawal. Probably just coincidence, but it is interesting how often things happen when the forum gets active. Sounds like you have a few more issues to work through yet, but money coming out is a good sign.
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Post by df on Nov 5, 2019 13:12:15 GMT
Nothing at all from 6 separate withdrawals of varying dates from 21st Oct. UPDATE: I received 4 "faster payment" payments in to my bank account today (4th Nov). 3 were initial payments from withdrawals that were requested on 21st, 25th and 25th Oct. The other was a final payment for a withdrawal that was requested on 7 Oct. My guess is that they're a bit short of staff and have let payment requests stack up and finally had a blitz on them today. Possibly prompted by the many recent conceded posters on here t recently. A bit of a joke sending "faster payments" when it takes so long to initiate them. In addition to this I have an accidental ISA withdrawal (my fault) that was requested on 7th Oct that says it made a payment on the website, but nothing has been received yet. I also have 2 internal ISA withdrawals that were requested on 8th Oct and 25th Oct that have not made any payments to my unassigned balance. The figures on the website for these investments make no sense at all. As an example: the info caption for the Investment Balance says " Investment Balance: Current Investments + Current Profit = Lent-Out + Pooled" yet these two sums differ by around £500. I also received a small PF payment today, for which I have now requested another withdrawal. I've requested withdrawal of my PF payment last night and money arrived to my bank account this morning. Did you have any "mid-term" business loans in the investments you've withdrawn? I want to attempt withdrawing some of investments with business loans and trying to figure out whether it is likely to be successful (as the interest stops as soon as withdrawal request is made and I wouldn't like to be stuck with idle money for the next 5 years).
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Post by Ace on Nov 5, 2019 14:48:39 GMT
UPDATE: I received 4 "faster payment" payments in to my bank account today (4th Nov). 3 were initial payments from withdrawals that were requested on 21st, 25th and 25th Oct. The other was a final payment for a withdrawal that was requested on 7 Oct. My guess is that they're a bit short of staff and have let payment requests stack up and finally had a blitz on them today. Possibly prompted by the many recent conceded posters on here t recently. A bit of a joke sending "faster payments" when it takes so long to initiate them. In addition to this I have an accidental ISA withdrawal (my fault) that was requested on 7th Oct that says it made a payment on the website, but nothing has been received yet. I also have 2 internal ISA withdrawals that were requested on 8th Oct and 25th Oct that have not made any payments to my unassigned balance. The figures on the website for these investments make no sense at all. As an example: the info caption for the Investment Balance says " Investment Balance: Current Investments + Current Profit = Lent-Out + Pooled" yet these two sums differ by around £500. I also received a small PF payment today, for which I have now requested another withdrawal. I've requested withdrawal of my PF payment last night and money arrived to my bank account this morning. Did you have any "mid-term" business loans in the investments you've withdrawn? I want to attempt withdrawing some of investments with business loans and trying to figure out whether it is likely to be successful (as the interest stops as soon as withdrawal request is made and I wouldn't like to be stuck with idle money for the next 5 years). I too received the withdrawal of yesterday's PF payment today. Yes, the majority of my unsold loans are of the mid-term variety. I also have a few that should have been repurchased by the PF, but haven't been. I haven't checked through them all as it's a fairly painful/laborious process, but the vast majority by number and value are 12% loans, which all my mid-term ones were. Good luck.
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trium
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Post by trium on Nov 8, 2019 4:09:56 GMT
Yes, the majority of my unsold loans are of the mid-term variety. I also have a few that should have been repurchased by the PF, but haven't been. I haven't checked through them all as it's a fairly painful/laborious process, but the vast majority by number and value are 12% loans, which all my mid-term ones were. I was under the delusion that I was funding short-term small personal loans, though I seem to remember an option appearing to include/exclude business loans. I've obviously had this switched on as all 4 of my "stuck" loans are 5-year contracts for significant amounts, and because I had two active investments with unlent cash I've funded two chunks of each loan. I now find on perusing the loan agreements that they are all to the same borrower and I'm not at all happy. I'm not sure why they can't be sold - there seems to be plenty of cash in the queue. Perhaps no-one is offering funds having switched off the option to participate in this category. Perhaps these loans are excluded from the SM. Perhaps the loans are late (how on earth do I find that out with this hopeless interface?). I suppose I'm stuck with them. And heaven help the PF if it ever has to pick up this lot Details: Borrower ********4013
5283******* 26/7/19 £80000
5109********26/7/19 £75000
6630******* 31/7/19 £75000
5187******* 15/9/19 $52500
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Post by Ace on Nov 8, 2019 8:58:00 GMT
Yes, the majority of my unsold loans are of the mid-term variety. I also have a few that should have been repurchased by the PF, but haven't been. I haven't checked through them all as it's a fairly painful/laborious process, but the vast majority by number and value are 12% loans, which all my mid-term ones were. I was under the delusion that I was funding short-term small personal loans, though I seem to remember an option appearing to include/exclude business loans. I've obviously had this switched on as all 4 of my "stuck" loans are 5-year contracts for significant amounts, and because I had two active investments with unlent cash I've funded two chunks of each loan. I now find on perusing the loan agreements that they are all to the same borrower and I'm not at all happy. I'm not sure why they can't be sold - there seems to be plenty of cash in the queue. Perhaps no-one is offering funds having switched off the option to participate in this category. Perhaps these loans are excluded from the SM. Perhaps the loans are late (how on earth do I find that out with this hopeless interface?). I suppose I'm stuck with them. And heaven help the PF if it ever has to pick up this lot Details: Borrower ********4013
5283******* 26/7/19 £80000
5109********26/7/19 £75000
6630******* 31/7/19 £75000
5187******* 15/9/19 $52500 In case you are not aware, that borrower is actually FO themselves. See here.
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trium
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Post by trium on Nov 8, 2019 9:44:30 GMT
In case you are not aware, that borrower is actually FO themselves. See here. Thanks Ace. I need both hands for typing so I think I'll leave my jaw in my lap for now. Yes I was aware of that thread but I didn't think of it when I was checking my unsold loans. So do we have to wait for FO to go into Lender Mode to get our money out?
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Ukmikk
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Post by Ukmikk on Nov 8, 2019 17:34:11 GMT
In case you are not aware, that borrower is actually FO themselves. See here. Thanks Ace. I need both hands for typing so I think I'll leave my jaw in my lap for now. Yes I was aware of that thread but I didn't think of it when I was checking my unsold loans. So do we have to wait for FO to go into Lender Mode to get our money out? I found I had to email FO to unstick my stuck loans (both FO 'business' loans which I shouldn't have been given anyway, and short term loans which were past the PF buyout period of 35 days). There are clearly fundamental problems with the platform mechanics although they won't admit it. In my opinion watching this platform is like, as nooneere eloquently put it, watching a car crash in slow motion.
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zlb
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Post by zlb on Nov 11, 2019 19:27:03 GMT
Thanks Ace. I need both hands for typing so I think I'll leave my jaw in my lap for now. Yes I was aware of that thread but I didn't think of it when I was checking my unsold loans. So do we have to wait for FO to go into Lender Mode to get our money out? I found I had to email FO to unstick my stuck loans (both FO 'business' loans which I shouldn't have been given anyway, and short term loans which were past the PF buyout period of 35 days). There are clearly fundamental problems with the platform mechanics although they won't admit it. In my opinion watching this platform is like, as nooneere eloquently put it, watching a car crash in slow motion. I've tried to withdraw all money and there is stuff stuck, plus the 'sums' look interesting. Do you mean that one should be able to just withdraw from all lending and you had to email them to get it to work properly? I don't know where they are getting £46 from here, where does the 15pence come from? and I don't understand the rest. Unassigned Deposit £1.08 Investment Summary Investment Balance £40.00 Lent Out £30.00 Pooled £0.00 Current Return £0.00 Total Return £26.60 You have £46.15 Pending Withdrawal
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