nick
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Post by nick on Oct 5, 2014 14:02:37 GMT
I have created this thread in an attempt to record in a single thread issues that members have encounted in respect of accounting of transaction on thier account. Hopefully this will quickly alert other members of potential issues and allow them if they have occurred on thier own account. I of one would find it useful for such specific issues to be recorded in a single thread. One issue I and others have recently encountered:
Loan parts put on sale not being credited
Issue affected me on 1-2 Oct. When puting loan part up for sale, website freezes before confirmation of sale. The loan parts were deducted from my live loan listing, but not recorded on on sale/sold tab and I was not credited with the actual sale. SS was quick to correct the error on my account and stated that the issue should now have been resolved, but I have yet to verify this.
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Post by Deleted on Oct 5, 2014 14:41:46 GMT
Interest calculations being changed
Not sure if this qualifies here but there was a small issue that I experienced at the end of September re: my monthly interest.
At the end of the month I went into my account and my monthly interest had been credited and was available for withdrawal. I duly arranged to withdraw the lot to my bank account.A couple of days later I logged back in and noticed another, much smaller sum, showing as available for withdrawal (just over £10). I was confused by this and checked my statement and there were no other credits since the Sept. monthly interest amounts against my loan parts. My conclusion was that my interest payments had been recalculated after I had done the withdrawal and therefore that the original total must have been slightly too low. (I had no new cashbacks or boat loan repayments as all my investments are in the PBLs and set to pay monthly interest).
Unfortunately I don't have my own spreadsheet that enables me to calculate my own interest so I rely on the SS system figures being correct. I just thought it odd that my numbers seemed to have changed a couple of days after the end of the month and wondered whether an error had occurred on the first run.
Overall very happy though.
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ilmoro
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Post by ilmoro on Oct 5, 2014 19:46:34 GMT
Interest calculations being changed
Not sure if this qualifies here but there was a small issue that I experienced at the end of September re: my monthly interest. At the end of the month I went into my account and my monthly interest had been credited and was available for withdrawal. I duly arranged to withdraw the lot to my bank account.A couple of days later I logged back in and noticed another, much smaller sum, showing as available for withdrawal (just over £10). I was confused by this and checked my statement and there were no other credits since the Sept. monthly interest amounts against my loan parts. My conclusion was that my interest payments had been recalculated after I had done the withdrawal and therefore that the original total must have been slightly too slow. (I had no new cashbacks or boat loan repayments as all my investments are in the PBLs and set to pay monthly interest). Unfortunately I don't have my own spreadsheet that enables me to calculate my own interest so I rely on the SS system figures being correct. I just thought it odd that my numbers seemed to have changed a couple of days after the end of the month and wondered whether an error had occurred on the first run. Overall very happy though. I had the opposite happen to me in August, with my account actually going negative when the amount of interest earnt on all my PBLs was reduced several days after being credited and after I had reinvested it. I believe there was a glitch in SS system but several emails/contact forms and comments on this forum never elicted any reply from SS as to whether this issue had been fixed.
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mikes1531
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Post by mikes1531 on Oct 5, 2014 22:30:36 GMT
Loan parts put on sale not being credited
Issue affected me on 1-2 Oct. When puting loan part up for sale, website freezes before confirmation of sale. The loan parts were deducted from my live loan listing, but not recorded on on sale/sold tab and I was not credited with the actual sale. SS was quick to correct the error on my account and stated that the issue should now have been resolved, but I have yet to verify this. I was affected by this as well. The first time I noticed it had happened, I wasn't sure and thought perhaps I was misremembering or misinterpreting what I was seeing. When it happened late on 1/Oct, I became more convinced, and I reported my observations to SS after it happened again at lunchtime on 2/Oct. After investigating, SS concluded that there had been a problem and made a correction to my account the morning of 5/Oct, though it was backdated to 2/Oct. I have sold only one loan part since the system changes were made, and that worked as it should, so hopefully the fix has worked. I'll be watching more carefully for other problems, but hopefully there won't be any. How I watch... - Before putting a part for sale, I check how much of that loan is available via the Live Loans tab.
- I make a note of my Account Balance and Total Live Loan Parts.
- I make a note of the number of the part to be sold.
- After putting the part for sale, I check the Live Loans tab to confirm that the amount available has increased by the amount I've offered for sale.
- I re-check my Account Balance and Total Live Loan Parts. (Both should have decreased by the amount offered for sale.)
- Check for an email from SS with the Subject 'Loan part for sale'.
- If I've offered a whole loan part for sale, that part should have disappeared from my list of Live Parts and appeared on the Selling/Sold Parts list.
- If I've offered less than the whole part, that part should still be on my list of Live Parts but at a reduced amount, and there should be a newly created loan part of the appropriate amount on the Selling/Sold Parts list.
- After the part is sold -- it can be hard to tell when that happens if my parts weren't the only ones of that loan available, though if things are working as they should it will be clear from the Selling/Sold Parts list -- my account balance should increase by the amount that I sold.
What had happened to me was that I could see that the loan part was made available for sale, but it didn't appear on my Selling/Sold Parts list. As a result, when the part did sell, I didn't receive the proceeds. I think that having the loan part number might have made it easier for SS to identify the problem incidents, but it may not have been necessary as SS did find some units that had the problem which I had sold earlier and for which I was unable to supply the numbers. I have to give SS credit for identifying those. Hopefully they've identified the source of the problem and fixed it, but I'll be keeping a close eye on things to convince myself of that. I think we'd all feel better if more people watched their sales closely and reported no problems.
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spockie
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Post by spockie on Oct 26, 2014 22:55:09 GMT
Anybody else having problems logging in today, being told your login is invalid?
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Post by wildlife2 on Oct 26, 2014 23:19:33 GMT
No, mine worked ok when I just tried 
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Post by Deleted on Nov 5, 2014 18:36:50 GMT
I've had another problem with the sale of a loan part.
I put a piece of PBL04 up for sale yesterday (4 Nov) and it sold quickly and started showing as 100% sold under my Selling/Sold tab.
But the funds have still not appeared in my Available Funds. In other words, sold but not credited to my account.
I've contacted SS about it today, awaiting a response.
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mikes1531
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Post by mikes1531 on Nov 5, 2014 21:52:25 GMT
I put a piece of PBL04 up for sale yesterday (4 Nov) and it sold quickly and started showing as 100% sold under my Selling/Sold tab. But the funds have still not appeared in my Available Funds. In other words, sold but not credited to my account. @interesthunter: And presumably didn't show up on your statement either? Please let us know how the issue is resolved.
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Post by Deleted on Nov 6, 2014 12:17:01 GMT
Checked my account this morning and this has been sorted out. The £400 has been credited to my available funds.
I haven't received an email from SS so I don't know why it didn't happen automatically when the loan part was 100% sold, as is normally the case.
No, it wasn't on my Statement yesterday evening but the transaction is showing up now with a loan end date of 4/11 and a transaction date of 5/11.
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Post by pepperpot on Nov 6, 2014 12:29:40 GMT
Checked my account this morning and this has been sorted out. The £400 has been credited to my available funds. I haven't received an email from SS so I don't know why it didn't happen automatically when the loan part was 100% sold, as is normally the case. No, it wasn't on my Statement yesterday evening but the transaction is showing up now with a loan end date of 4/11 and a transaction date of 5/11. The last time this issue was reported on here, SS said that there was indeed a bug, but that they had sorted it by introducing an automated after-the-fact check to pick up any anomalies. If this is what has happened with your sold part then it seems the patch is working, even though the bug is still doing what bugs do best.
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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 Nov 6, 2014 12:34:57 GMT
Checked my account this morning and this has been sorted out. The £400 has been credited to my available funds. I haven't received an email from SS so I don't know why it didn't happen automatically when the loan part was 100% sold, as is normally the case. No, it wasn't on my Statement yesterday evening but the transaction is showing up now with a loan end date of 4/11 and a transaction date of 5/11. They may have needed to wait for funds from the purchasor to arrive - it is part of the way the SM works. Mostly it's not been an issue because there's always been a steady flow of funds into the site, but at the moment with nothing going on there probably wasn't. (I don't know that is the reason, but it's a possibility). Edit: There was a flowchart somewhere made when the SM came into being that explained this, but I can't find it anywhere, either via the SS homepage links or on the forum.
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bugs4me
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Post by bugs4me on Nov 6, 2014 14:17:32 GMT
Checked my account this morning and this has been sorted out. The £400 has been credited to my available funds. I haven't received an email from SS so I don't know why it didn't happen automatically when the loan part was 100% sold, as is normally the case. No, it wasn't on my Statement yesterday evening but the transaction is showing up now with a loan end date of 4/11 and a transaction date of 5/11. <snip> Edit: There was a flowchart somewhere made when the SM came into being that explained this, but I can't find it anywhere, either via the SS homepage links or on the forum. Is this what you are after - second post down - p2pindependentforum.com/thread/598/?page=3
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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 Nov 6, 2014 14:27:36 GMT
<snip> Edit: There was a flowchart somewhere made when the SM came into being that explained this, but I can't find it anywhere, either via the SS homepage links or on the forum. Is this what you are after - second post down - p2pindependentforum.com/thread/598/?page=3Yes it was, thank you, but I see it doesn't mention anything about them needing the funds in. However, I've found a post further down the thread which does - it refers to the now defunct GoCardless system, but the priciple is the same. p2pindependentforum.com/post/11417/threadNot clear though that this would cause the amount not to appear on your statement, just that you couldn't withdraw it. So on reflection I think I've brought up a bit of a red herring here 
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jonno
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nil satis nisi optimum
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Post by jonno on Nov 6, 2014 15:42:27 GMT
Yes it was, thank you, but I see it doesn't mention anything about them needing the funds in. However, I've found a post further down the thread which does - it refers to the now defunct GoCardless system, but the priciple is the same. p2pindependentforum.com/post/11417/threadNot clear though that this would cause the amount not to appear on your statement, just that you couldn't withdraw it. So on reflection I think I've brought up a bit of a red herring here Bad sushi? 
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shimself
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Post by shimself on Jan 5, 2015 17:12:10 GMT
Just a minor suggestion The list of my holdings on page www.savingstream.co.uk/members tab Live Loan Parts Could you order it by loan name please (called Asset Detail) not by loan id. So I can easily see what's going on if I have several chunks of a loan Thanks |
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