djg
Posts: 18 
Likes: 16
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Post by djg on Jul 12, 2019 10:37:29 GMT
On 9 July 2019, the Activity tab tells us that AC received repayment from the borrower's solicitor and funds would be distributed to lenders accounts "in due course". On 11 July I had a Live Chat with AC Support and they promised to nudge the Accounts team. Today, 12 July, still no action.
Is this normal? I'm used to AC repayments being distributed to lenders almost immediately, but perhaps I've been lucky previously?
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cb25
Posts: 3,528
Likes: 2,668
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Post by cb25 on Jul 12, 2019 10:54:49 GMT
On 9 July 2019, the Activity tab tells us that AC received repayment from the borrower's solicitor and funds would be distributed to lenders accounts "in due course". On 11 July I had a Live Chat with AC Support and they promised to nudge the Accounts team. Today, 12 July, still no action.
Is this normal? I'm used to AC repayments being distributed to lenders almost immediately, but perhaps I've been lucky previously? It does sometimes take a few days to get any repayment. As it says in the Repayments tab "We allow for a 7 day grace period on payments..", so you might want to leave it to next week before querying it with AC again.
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dave2
Member of DD Central
Posts: 177
Likes: 163
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Post by dave2 on Jul 12, 2019 12:06:32 GMT
Hopefully not a bouncing cheque.
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Post by jevans4949 on Jul 12, 2019 15:54:34 GMT
I think I saw Asstez saying somewhere else that they have to wait for cheques to clear before they can repay the punters. Probably can be done quicker if the payments was by CHAPS.
Not followed this one, but sometimes Assetz have difficulty unravelling the repayments due.
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djg
Posts: 18
Likes: 16
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Post by djg on Jul 16, 2019 9:55:06 GMT
Many thanks for replies. The funds were eventually allocated to lenders on 15 July, so that's just 6 days. Having to repeatedly log on to see what's happening is an added irritation of course. But then was able to re-invest the funds in another AC loan the same day.
Overall, AC does most things very well in my humble opinion, and it remains my most favoured platform.
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