SteveT
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Post by SteveT on Jul 6, 2017 21:36:30 GMT
No (and I've no doubt whatsoever that AC will resolve the issue with #199 in due course) Rather nebulous concept 'in due course' - please define? in due course 1. at the appropriate time. "the range will be extended in due course" synonyms: at the appropriate time, when the time is ripe, in time, in due time, in the fullness of time, in the course of time, at a later time, at a later date, at length, at a future time/date, at some point in the future, in the future, in time to come, as time goes on/by, by and by, one day, some day, sooner or later, in a while, after a bit, eventually
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rxdav
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Post by rxdav on Jul 6, 2017 21:41:13 GMT
No (and I've no doubt whatsoever that AC will resolve the issue with #199 in due course) There isnt an issue with #199, the loan has been repaid and has ceased to accrue. #123 hadnt been repaid and was still accruing hence it remained on the active loans list. Accrued interest is owed on #199 but that isnt the loan. #70 treated exactly the same and AC posted updates/answered queries same as before until all sums owed paid. I suspect that the system doesnt allow for capital repaid loans to stay on the live page and for the sake of one loan every year I doubt they will change it. As with #70 I shall diarise the update date and poke them through channels if it isnt forthcoming. Sorry to differ but this is not some semantic exercise - #199 has NOT been repaid (fact) - I am still owed interest (as are others) and until all capital and interest is repaid then the loan in its entirety remains in default. Simply because the loan capital is no longer accruing (as AC repay capital as priority over interest) does not mean this loan (as per the contract) is 'repaid' - it isn't - fact.
Edit: Typo
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rxdav
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Post by rxdav on Jul 6, 2017 21:43:39 GMT
Rather nebulous concept 'in due course' - please define? in due course 1. at the appropriate time. "the range will be extended in due course" synonyms: at the appropriate time, when the time is ripe, in time, in due time, in the fullness of time, in the course of time, at a later time, at a later date, at length, at a future time/date, at some point in the future, in the future, in time to come, as time goes on/by, by and by, one day, some day, sooner or later, in a while, after a bit, eventually So for 'in due course' I should substitute 'maybe', 'perhaps' or 'if ever' - great advice - thanks (crikey - if I was that sharp maybe I could be a moderator?)!
Edit: Removed sarcastic comment!!
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tonyr
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Post by tonyr on Jul 7, 2017 3:20:31 GMT
I am aware we are not talking big money with this particular loan (most has been repaid)
I think we are talking big money. Interest has been accumulating for about 8 months at 14%, so about 9%. We've had less than half of that paid out so we are waiting for about £50k. That's enough money to have someone look at the problem and say something like "we are sorry our IT can't cope with this. You are still owed £50k of interest (5%) which isn't showing on the system. We expect to have a fix by XXX". Or better, make it live again so we can all see how much interest we are owed.
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rxdav
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Post by rxdav on Jul 7, 2017 8:01:42 GMT
I am aware we are not talking big money with this particular loan (most has been repaid)
I think we are talking big money. Interest has been accumulating for about 8 months at 14%, so about 9%. We've had less than half of that paid out so we are waiting for about £50k. That's enough money to have someone look at the problem and say something like "we are sorry our IT can't cope with this. You are still owed £50k of interest (5%) which isn't showing on the system. We expect to have a fix by XXX". Or better, make it live again so we can all see how much interest we are owed. Hi tonyr, Nice to meet somebody on this (allegedly) 'independent' forum who doesn't seem to be a fully paid up member of the AH supporters club - we seem a rare breed!
Having looked, it appears the total outstanding amount on this as yet NOT fully repaid loan (which still resides incorrectly in the 'repaid' loans section) is £7,531.21. I regret I cannot tell you how much of this belongs to me - or indeed how much to you - as this ability has now been denied us by AC. Why this ability has been denied us I cannot tell you - nor it seems can anybody else - unless you accept a previous suggestion that this loan is actually repaid because all capital has been recovered (but not all interest)? Or maybe the other somewhat equally bizarre idea that we should sit quietly like all good lenders and 'trust' AH to sort this for us? No - thought not.
I fully agree with your comments above - the amount of interest outstanding is indeed not inconsiderable in it's totality (my reference to 'not talking big money' alluded to a comparison between the original capital plus interest - a relative comparison).
I am not going to be told by anyone that this loan is repaid until all capital and interest are recovered or there is a write off. I also resent AC arbitrarily removing live functionality from their website insofar as I (and others) can no longer view the interest still owed to them individually. Furthermore, until advised by AC of facts which demonstrate the contrary I will continue view this move with the healthy scepticism it deserves.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Jul 7, 2017 8:27:17 GMT
I think we are talking big money. Interest has been accumulating for about 8 months at 14%, so about 9%. We've had less than half of that paid out so we are waiting for about £50k. That's enough money to have someone look at the problem and say something like "we are sorry our IT can't cope with this. You are still owed £50k of interest (5%) which isn't showing on the system. We expect to have a fix by XXX". Or better, make it live again so we can all see how much interest we are owed. Hi tonyr, Nice to meet somebody on this (allegedly) 'independent' forum who doesn't seem to be a fully paid up member of the AH supporters club - we seem a rare breed!
Having looked, it appears the total outstanding amount on this as yet NOT fully repaid loan (which still resides incorrectly in the 'repaid' loans section) is £7,531.21. I regret I cannot tell you how much of this belongs to me - or indeed how much to you - as this ability has now been denied us by AC. Why this ability has been denied us I cannot tell you - nor it seems can anybody else - unless you accept a previous suggestion that this loan is actually repaid because all capital has been recovered (but not all interest)? Or maybe the other somewhat equally bizarre idea that we should sit quietly like all good lenders and 'trust' AH to sort this for us? No - thought not.
I fully agree with your comments above - the amount of interest outstanding is indeed not inconsiderable in it's totality (my reference to 'not talking big money' alluded to a comparison between the original capital plus interest - a relative comparison).
I am not going to be told by anyone that this loan is repaid until all capital and interest are recovered or there is a write off. I also resent AC arbitrarily removing live functionality from their website insofar as I (and others) can no longer view the interest still owed to them individually. Furthermore, until advised by AC of facts which demonstrate the contrary I will continue view this move with the healthy cynicism it deserves.
It's nice to see someone else speaking their mind here.......there are a lot of forumites who are either too timid or just plain lazy to back people like us......even a few more "likes" would help the cause.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 7, 2017 10:03:38 GMT
I think we are talking big money. Interest has been accumulating for about 8 months at 14%, so about 9%. We've had less than half of that paid out so we are waiting for about £50k. That's enough money to have someone look at the problem and say something like "we are sorry our IT can't cope with this. You are still owed £50k of interest (5%) which isn't showing on the system. We expect to have a fix by XXX". Or better, make it live again so we can all see how much interest we are owed. Hi tonyr, Nice to meet somebody on this (allegedly) 'independent' forum who doesn't seem to be a fully paid up member of the AH supporters club - we seem a rare breed!
Having looked, it appears the total outstanding amount on this as yet NOT fully repaid loan (which still resides incorrectly in the 'repaid' loans section) is £7,531.21. I regret I cannot tell you how much of this belongs to me - or indeed how much to you - as this ability has now been denied us by AC. Why this ability has been denied us I cannot tell you - nor it seems can anybody else - unless you accept a previous suggestion that this loan is actually repaid because all capital has been recovered (but not all interest)? Or maybe the other somewhat equally bizarre idea that we should sit quietly like all good lenders and 'trust' AH to sort this for us? No - thought not.
I fully agree with your comments above - the amount of interest outstanding is indeed not inconsiderable in it's totality (my reference to 'not talking big money' alluded to a comparison between the original capital plus interest - a relative comparison).
I am not going to be told by anyone that this loan is repaid until all capital and interest are recovered or there is a write off. I also resent AC arbitrarily removing live functionality from their website insofar as I (and others) can no longer view the interest still owed to them individually. Furthermore, until advised by AC of facts which demonstrate the contrary I will continue view this move with the healthy scepticism it deserves.
As a fully paid up member of AH supporters club (stop launghing you in AC towers). I can tell you that you are about £26k out. The interest not paid is £34,392.72.
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rxdav
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Post by rxdav on Jul 7, 2017 10:24:24 GMT
Hi tonyr, Nice to meet somebody on this (allegedly) 'independent' forum who doesn't seem to be a fully paid up member of the AH supporters club - we seem a rare breed!
Having looked, it appears the total outstanding amount on this as yet NOT fully repaid loan (which still resides incorrectly in the 'repaid' loans section) is £7,531.21. I regret I cannot tell you how much of this belongs to me - or indeed how much to you - as this ability has now been denied us by AC. Why this ability has been denied us I cannot tell you - nor it seems can anybody else - unless you accept a previous suggestion that this loan is actually repaid because all capital has been recovered (but not all interest)? Or maybe the other somewhat equally bizarre idea that we should sit quietly like all good lenders and 'trust' AH to sort this for us? No - thought not.
I fully agree with your comments above - the amount of interest outstanding is indeed not inconsiderable in it's totality (my reference to 'not talking big money' alluded to a comparison between the original capital plus interest - a relative comparison).
I am not going to be told by anyone that this loan is repaid until all capital and interest are recovered or there is a write off. I also resent AC arbitrarily removing live functionality from their website insofar as I (and others) can no longer view the interest still owed to them individually. Furthermore, until advised by AC of facts which demonstrate the contrary I will continue view this move with the healthy scepticism it deserves.
As a fully paid up member of AH supporters club (stop launghing you in AC towers). I can tell you that you are about £26k out. The interest not paid is £34,392.72. Thankyou for the correction ilmoro - I bow to your greater mathematical competence (which actually amplifies my concern by some 500%).
Can you now ascertain how much of that £34,392.72 belongs to me - because I sure can't anymore 
P.S. Are there any perks to becoming a member should I decide to join - would I get a badge to sit alongside my Blue Peter one - or maybe a little membership booklet with stickers in - you know, with images of AH and other celebs sort of thing - or perhaps...................................?
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Post by andrewholgate on Jul 7, 2017 10:47:15 GMT
Apologies for not being available 24/7/365 to answer questions on here. The wifi connection at the top of the ivory tower I live in is a bit ropey. Something to do with the thick walls. I also need a lift installing as it's such a long way down...  Sorry, for a pithy opening to this but I do also have a business of getting on for 90 people, £300m of lending and 10,000+ customers to run. 1. This forum, whilst useful, is not the AC help desk. If you have a problem then speak to us on 0207 870 1023 or email enquiries@assetzcapital.co.uk We have a great team sitting there waiting to help you with your queries. 2. #199. Your capital has been repaid and your accrued interest is still outstanding. Our system moves a loan to repaid but that screen doesn't show how much interest is still owed. We've not forgotten about it, we've not squirrelled it away and it's not paying for the AC Summer Party. It's your money which we will recover from the next sale of a property. 3. #199. If you want to know how much interest you are owed then speak to us on 0207 870 1023 or email enquiries@assetzcapital.co.uk We have a great team sitting there waiting to help you with your queries. 4. #199. If you go to the repayments tab within the loan page you will see exactly what is owed and has been repaid. We are transparent and are not hiding anything. ilmoro was able to ascertain the figure quickly and I didn't pay ilmoro to do that. 5. If you have a problem then speak to us on 0207 870 1023 or email enquiries@assetzcapital.co.uk We have a great team sitting there waiting to help you with your queries. 6. If anyone wants a signed picture of me, you only have to ask. Last point. If you have a problem then speak to us on 0207 870 1023 or email enquiries@assetzcapital.co.uk We have a great team sitting there waiting to help you with your queries. I apologise again for being a tad touchy and/or pithy here. I have been, and remain, one of the most approachable leaders in the P2P lending world. AC is currently the 5th largest in Europe based on P2p-banking.com figures and yet I still take time to speak to customers frequently. I'm not as freely available as I was 3-4 years ago because the business is so much bigger than it was, but I still remain contactable. Indeed, my email address is available to anyone that wants it and I respond to messages I get. My final point is, we know we aren't perfect and there are things we need to do to improve. However, if you are that upset with us as a customer I, nor AC, are forcing you stay as a customer. You have the right to choose whether you stay invested or leave us. I don't want customers to leave, but that is your choice. Andrew |
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Jul 7, 2017 10:59:58 GMT
Whilst I applaud AC for getting our dosh back for loans #123 & #199....I believe the interest repayment on #123 was also a bit short.......now, both these loans were in default and were accrueing an extra 3%......perhaps they are short by the extra 3%.......it would help if AC just paid us with one principal and one interest payment on each loan.
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Post by andrewholgate on Jul 7, 2017 11:33:33 GMT
When a loan is in default the T&Cs state you will get principal first and interest second.
On top of that, we also have the CASS rules to adhere to and FCA rules on deposits. These basically state that we can't sit on the cash as it becomes a deposit and it's not ours to hold. It has to go back to lenders.
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ianj
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Post by ianj on Jul 7, 2017 11:37:00 GMT
Whilst I applaud AC for getting our dosh back for loans #123 & #199....I believe the interest repayment on #123 was also a bit short.......now, both these loans were in default and were accrueing an extra 3%......perhaps they are short by the extra 3%.......it would help if AC just paid us with one principal and one interest payment on each loan. Yes, my interest on #123 was short of the value in my loanbook download from early on the day of repayment, checking back at previous loanbook interest values I can see that my shortfall equates to one day's interest. As we now know from a recent AC post, (and like it or not) a unique 'feature' (unique re platforms I use, at least) of AC's repayment system is that crediting of lender accounts is usually made the day following receipt of monies by AC, and will always, in this circumstance it would appear, be one day short. 
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rxdav
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Post by rxdav on Jul 7, 2017 11:45:44 GMT
Apologies for not being available 24/7/365 to answer questions on here. The wifi connection at the top of the ivory tower I live in is a bit ropey. Something to do with the thick walls. I also need a lift installing as it's such a long way down... Sorry, for a pithy opening to this but I do also have a business of getting on for 90 people, £300m of lending and 10,000+ customers to run. 1. This forum, whilst useful, is not the AC help desk. If you have a problem then speak to us on 0207 870 1023 or email enquiries@assetzcapital.co.uk We have a great team sitting there waiting to help you with your queries. 2. #199. Your capital has been repaid and your accrued interest is still outstanding. Our system moves a loan to repaid but that screen doesn't show how much interest is still owed. We've not forgotten about it, we've not squirrelled it away and it's not paying for the AC Summer Party. It's your money which we will recover from the next sale of a property. 3. #199. If you want to know how much interest you are owed then speak to us on 0207 870 1023 or email enquiries@assetzcapital.co.uk We have a great team sitting there waiting to help you with your queries. 4. #199. If you go to the repayments tab within the loan page you will see exactly what is owed and has been repaid. We are transparent and are not hiding anything. ilmoro was able to ascertain the figure quickly and I didn't pay ilmoro to do that. 5. If you have a problem then speak to us on 0207 870 1023 or email enquiries@assetzcapital.co.uk We have a great team sitting there waiting to help you with your queries. 6. If anyone wants a signed picture of me, you only have to ask. Last point. If you have a problem then speak to us on 0207 870 1023 or email enquiries@assetzcapital.co.uk We have a great team sitting there waiting to help you with your queries. I apologise again for being a tad touchy and/or pithy here. I have been, and remain, one of the most approachable leaders in the P2P lending world. AC is currently the 5th largest in Europe based on P2p-banking.com figures and yet I still take time to speak to customers frequently. I'm not as freely available as I was 3-4 years ago because the business is so much bigger than it was, but I still remain contactable. Indeed, my email address is available to anyone that wants it and I respond to messages I get. My final point is, we know we aren't perfect and there are things we need to do to improve. However, if you are that upset with us as a customer I, nor AC, are forcing you stay as a customer. You have the right to choose whether you stay invested or leave us. I don't want customers to leave, but that is your choice. Andrew Well hello AH - I feel a little faint at this honour but will try to compose myself and remain vertical!
Thankyou for responding to my (and others) concerns with regard to #199 - although you still haven't actually explained why an unpaid loan has been transferred to the repaid category?
With so many minions under your direct control I'm surprised not one of them showed the initiative or were proactive in addressing this relatively simple matter at an earlier juncture - before it seemingly became necessary for you personally to become involved? In your position I would like to think decisions and actions in my organisation were taken at the lowest competent level?
Still - you've made my day and I will now get on facebook (whoever he is) and let the world know of my good fortune.
P.S. Could I take you up on your kind offer - please message me a signed photograph (I'll keep it under my pillow).
P.P.S. You're also absolutely correct that we have the right to choose whether we stay invested with AC or not. I have dumped two platforms to date - but will remain with AC for the time being - however, your current interest rates are now looking increasingly poor by comparison with others (Abl, MT et al).
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ianj
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Post by ianj on Jul 7, 2017 11:57:26 GMT
.......I have dumped two platforms to date....... One has to wonder whether the 'passing' was mourned or celebrated!
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Post by andrewholgate on Jul 7, 2017 11:58:01 GMT
It shows as repaid when the principal balance shows as nil. In the T&Cs you get your capital paid first and interest second.
I have your details on the system and will send in due course.
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Sorry, for a pithy opening to this but I do also have a business of getting on for 90 people, £300m of lending and 10,000+ customers to run.
