michaelc
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Post by michaelc on Jun 29, 2019 14:16:41 GMT
I had a loan make a repayment a cople of days late (approx half). Then the next day the remaining balance was paid off.
I'm just wondering how likely is it someone would make two consecutive payments like that? I'm not doubting it and I'm happy about it but just trying to put myself in the borrower's shoes.
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iRobot
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Post by iRobot on Jun 29, 2019 15:10:01 GMT
I had a loan make a repayment a cople of days late (approx half). Then the next day the remaining balance was paid off. I'm just wondering how likely is it someone would make two consecutive payments like that? I'm not doubting it and I'm happy about it but just trying to put myself in the borrower's shoes. Borrower hit max transfer limit on day one? (Not just single payment limit to this one 'payee', but maybe max amount from their account if suddenly flush and paying loads of stuff all over the place.)
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Greenwood2
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Post by Greenwood2 on Jun 29, 2019 16:21:35 GMT
Or payments from two different accounts to make up the full amount arrived at different speeds?
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michaelc
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Post by michaelc on Jun 29, 2019 17:39:23 GMT
Thanks guys for the ideas. The paying from two accounts sounds most plausible to me.
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Post by The Money Platform on Jul 29, 2019 9:41:44 GMT
michaelc On top of what the others have said something we see a lot of is a customers have an instalment repayment processed (automatically) and then they see that this has gone through, notice that they have some spare cash in their bank account and log on to clear the rest of the loan (as they don't want more interest accumulating). If you can send the loan reference number then we can look into this and see if there is anything else that has gone on here.
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