alender
Member of DD Central
Posts: 981 
Likes: 683
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Post by alender on May 1, 2020 15:55:50 GMT
Absolutely right! I assume the interest has been credited but is not showing owing to the reduced working environment at Assetz just now. With people expected to wait months for a holiday refund I'm not quibbling about a day delay. You are 100% right. With stocks and share holders looking at the reality of losses in their investments, in the region of 20 to 30+% not just playing possible future loss 'whataboutory games', with the current crisis destroying business owners life long investments, with 10s of thousands of jobs and lifes being lost, a delay in my interest being processed as a result of the same crisis that caused all of the above, really is nothing in the big scheme of things. Perspective helps. The losses in equities is dependent on when you invested, the losses on the FTSE 100 are about 24% from the peak in 2020, so you would only be bearing this loss if you bought at the peak.
On average most people will have lower losses and most long term investors in profit. Also equities can go up more than 24% in the future, AC AAs can only go up to cost if we get out out this situation.
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Post by Harland Kearney on May 1, 2020 16:03:52 GMT
Absolutely right! I assume the interest has been credited but is not showing owing to the reduced working environment at Assetz just now. With people expected to wait months for a holiday refund I'm not quibbling about a day delay. You are 100% right. With stocks and share holders looking at the reality of losses in their investments, in the region of 20 to 30+% not just playing possible future loss 'whataboutory games', with the current crisis destroying business owners life long investments, with 10s of thousands of jobs and lifes being lost, a delay in my interest being processed as a result of the same crisis that caused all of the above, really is nothing in the big scheme of things. Perspective helps. The stock market is the only place where customers run out of the shop when discounts hit shelves!
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iRobot
Member of DD Central
Posts: 1,680
Likes: 2,477
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Post by iRobot on May 1, 2020 17:17:37 GMT
This isn’t a big issue - however is another example of AC just getting it wrong. Spoke to AC earlier this week they said they’d been inundated will calls Re the new platform - why change it in the middle of a pandemic when half your staff are furloughed!!!!!!!!! commented from the 22nd Apr: " The new dashboard has come about from a herculean effort by the developers to rebuild the entire thing from the ground up removing many of the hurdles developing the old dashboard brought." My guess is that in order to bring in desired additional functionality (a discounted SM for the AA's amongst others) it was either absolutely necessary or just highly desirable to first deliver a new dashboard and surrounding framework.
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Post by jasonnewman on May 3, 2020 13:47:55 GMT
For Ace and others interested - I've quoted it here for you. However, I'm not maintaining this thread, so feel free to post or quote to it yourselves.  These are my daily figures from a QAA withdrawal of £40k requested on the 19th of March. I suspect there'll be some minor variances across accounts, but I wouldn't expect major ones, given the 'pooled' nature of the repayments structure as outlined by AC. Post updated to include figures received up to and including 01/05/20; total received to date £538.68
I intend to update this on a weekly basis, up to and including the Friday payment(s). NB: my figures start on the 20th of March. If anyone has figures before then, PM me and if a consensus can be reached, I'll add them in.
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| 01-Apr | 238.06 | ; 01-May | 8.61 | 01-Jun |
| 01-Jul |
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| | 02-Apr | 3.22 | 02-May | | 02-Jun | | 02-Jul |
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| | 03-Apr | 13.19 | 03-May | | 03-Jun | | 03-Jul |
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| | 04-Apr | 3.18 | 04-May | | 04-Jun | | 04-Jul |
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| | 05-Apr | - | 05-May | | 05-Jun | | 05-Jul |
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| | 06-Apr | 23.18 | 06-May | | 06-Jun | | 06-Jul |
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| | 07-Apr | 7.54 | 07-May | | 07-Jun | | 07-Jul |
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| | 08-Apr | 3.86 | 08-May | | 08-Jun | | 08-Jul |
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| | 09-Apr | 3.02 | 09-May | | 09-Jun | | 09-Jul |
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| | 10-Apr | 1.41 | 10-May | | 10-Jun | | 10-Jul |
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| | 11-Apr | -
| 11-May | | 11-Jun | | 11-Jul |
| | 12-Mar | | 12-Apr | - | 12-May | | 12-Jun | | 12-Jul |
| | 13-Mar | | 13-Apr | - | 13-May | | 13-Jun | | 13-Jul |
| | 14-Mar | | 14-Apr | 5.01 | 14-May | | 14-Jun | | 14-Jul |
| | 15-Mar | | 15-Apr | 1.17 | 15-May | | 15-Jun | | 15-Jul |
| | 16-Mar | | 16-Apr | 1.15 | 16-May | | 16-Jun | | 16-Jul |
| | 17-Mar | | 17-Apr | - | 17-May | | 17-Jun | | 17-Jul |
| | 18-Mar | | 18-Apr | 1.16 | 18-May | | 18-Jun | | 18-Jul |
| | 19-Mar | | 19-Apr | - | 19-May | | 19-Jun | | 19-Jul |
| | 20-Mar | 42.49 | 20-Apr | 3.16 | 20-May | | 20-Jun | | 20-Jul |
| | 21-Mar | 1.00 | 21-Apr | - | 21-May | | 21-Jun | | 21-Jul |
| | 22-Mar | 1.00 | 22-Apr | 1.00 | 22-May | | 22-Jun | | 22-Jul |
| | 23-Mar | 5.18 | 23-Apr | - | 23-May | | 23-Jun | | 23-Jul |
| | 24-Mar | 1.00 | 24-Apr | 1.00 | 24-May | | 24-Jun | | 24-Jul |
| | 25-Mar | 100.37 | 25-Apr | -
| 25-May | | 25-Jun | | 25-Jul |
| | 26-Mar | 8.59 | 26-Apr | - | 26-May | | 26-Jun | | 26-Jul |
| | 27-Mar | 13.51 | 27-Apr | 10.90 | 27-May | | 27-Jun | | 27-Jul |
| | 28-Mar | 1.68 | 28-Apr | 4.41 | 28-May | | 28-Jun | | 28-Jul |
| | 29-Mar | - | 29-Apr | 2.34 | 29-May | | 29-Jun | | 29-Jul |
| | 30-Mar | 25.30 | 30-Apr | 1.98 | 30-May | | 30-Jun | | 30-Jul |
| | 31-Mar | - | | | 31-May | | | | 31-Jul |
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01-Apr 238.06 Paid out on 01-Apr - well what happened to this lump payment for May post interest payment? Are your investors no longer re-investing their interest in your platform stuartassetzcapital ?
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Post by Harland Kearney on May 3, 2020 14:03:01 GMT
Was a loan capital repayment, not a interest reinvestment repayment. (somebody renembers which I'm sure on here)
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cb25
Posts: 3,528
Likes: 2,668
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Post by cb25 on May 3, 2020 14:45:16 GMT
Was a loan capital repayment, not a interest reinvestment repayment. (somebody renembers which I'm sure on here) Might be from this, which I posted Apr 1 here
"I've just had 4x£234.68 (IFISA 90DAA, Standard 90DAA/30DAA/QAA) dumped into my cash accounts at 18.05
Edit: I wonder if it's due to the £2.5m repaid recently by loans #628 and #686"
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mikeb
Posts: 1,072
Likes: 472
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Post by mikeb on May 3, 2020 19:26:24 GMT
I don't know how to verify this as I don't monitor the accrued interest closely, but I'm assuming the missing interest from april has just been added to my accrued interest total due to missed borrower payments. Well, I do monitor accrued interest closely, due to long running historical mistrust of the accounting involved. Harder to do now that AC have removed the per-loan accrued interest info ... draw your own conclusions. For the 30 day Access account, interest is calculated daily, but nothing is paid out. It all goes to accrued. Then on the 1st of the month, your accrued interest drops sharply by (5.1% of your balance) divided by 12. This month :- Accrued interest dropped by (5.1% of balance)/12 and the amount paid was (3.75% of balance/12). The difference between the two? Good question. So I wouldn't assume the missing interest has been added to accrued, because it hasn't.
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dead-money
Rocket to the Moon
Posts: 746
Likes: 654
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Post by dead-money on May 3, 2020 19:35:55 GMT
My understanding is the Access Accounts failed to meet their target return so the target interest rate wasn't paid. Should borrower payments improve in the future, then the target return may improve and reach the capped rate once again.
Whereas for MLA, Accrued interest not yet received remains outstanding and will hopefully be forthcoming at some point in the future. On the other hand I have accrued interest on PSA / GBBA which I never expect to receive...
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Post by jasonnewman on May 3, 2020 20:44:06 GMT
My understanding is the Access Accounts failed to meet their target return so the target interest rate wasn't paid. Should borrower payments improve in the future, then the target return may improve and reach the capped rate once again.
Whereas for MLA, Accrued interest not yet received remains outstanding and will hopefully be forthcoming at some point in the future. On the other hand I have accrued interest on PSA / GBBA which I never expect to receive...
Has that statement been independently audited that the target rate could not be met? How do we know AC are lying and kept the money back...Do we just take their word for everything?
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Post by df on May 3, 2020 21:19:15 GMT
My understanding is the Access Accounts failed to meet their target return so the target interest rate wasn't paid. Should borrower payments improve in the future, then the target return may improve and reach the capped rate once again.
Whereas for MLA, Accrued interest not yet received remains outstanding and will hopefully be forthcoming at some point in the future. On the other hand I have accrued interest on PSA / GBBA which I never expect to receive...
Accrued interest usually indicates what you might get in the event of a miracle. However, I still tend to believe that one day I will get the pledged I** 2%. Most of my GBBA is 227 (iirc it stopped paying interest at around August 2017), I must have a hefty accrued interest in that loan. Luckily my PSA was just a very short curiosity exercise, so I have only 3p stuck there (the whole 3p is in 227, the only loan that survived my withdrawal from PSA), I don't think my accrued interest will ever reach above 1p even if this project is going to progress into next decade . It appeared (at least in my experience) that PSA is the same as GBAA, but with lower target interest rate to lenders. If I didn't fall for GEIA and GBBA, my funds' up to date performance on AC would've looked great.
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Post by df on May 3, 2020 21:47:13 GMT
My understanding is the Access Accounts failed to meet their target return so the target interest rate wasn't paid. Should borrower payments improve in the future, then the target return may improve and reach the capped rate once again.
Whereas for MLA, Accrued interest not yet received remains outstanding and will hopefully be forthcoming at some point in the future. On the other hand I have accrued interest on PSA / GBBA which I never expect to receive... Has that statement been independently audited that the target rate could not be met? How do we know AC are lying and kept the money back...Do we just take their word for everything? Trust is one of primary considerations one should examine before committing any cash to p2p platforms. Shouldn't really expect statements being independently audited in alternative finance industry... If one doesn't trust a platform, they shouldn't use it for investment.
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dovap
Member of DD Central
Posts: 467
Likes: 410
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Post by dovap on May 3, 2020 22:26:11 GMT
Has that statement been independently audited that the target rate could not be met? How do we know AC are lying and kept the money back...Do we just take their word for everything? Trust is one of primary considerations one should examine before committing any cash to p2p platforms. Shouldn't really expect statements being independently audited in alternative finance industry... If one doesn't trust a platform, they shouldn't use it for investment. yep - I'm sure there are many who won't use a platform that have shown they can't be trusted.
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blender
Member of DD Central
Posts: 5,719
Likes: 4,272
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Post by blender on May 3, 2020 22:35:36 GMT
The statements made by AC (not our interpretation of them) are on the record, both those made directly to investors and those on the forum. You can generally rely on an FCA registered company not to make false statements. Suggesting otherwise, without any evidence, is pretty desperate and discreditable.
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