toffeeboy
Member of DD Central
Posts: 504 
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Post by toffeeboy on Oct 13, 2021 10:14:36 GMT
Hi connectivelending Any news on this one as the last update dated 17 September said you had been in contact with the borrower and he would be renewing in two weeks, it will be four weeks on Friday since this update so the renewal obviously never happened. The loan was due to be completed by 22 September so it is now three weeks past due. |
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Post by Badly Drawn Stickman on Oct 13, 2021 10:38:15 GMT
Hi connectivelending Any news on this one as the last update dated 17 September said you had been in contact with the borrower and he would be renewing in two weeks, it will be four weeks on Friday since this update so the renewal obviously never happened. The loan was due to be completed by 22 September so it is now three weeks past due. It has changed its name to 960466071727 and was renewed yesterday I think. Edit. technically it is in limbo currently, it is a somewhat confusing process.
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toffeeboy
Member of DD Central
Posts: 504
Likes: 362
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Post by toffeeboy on Oct 13, 2021 11:32:08 GMT
Hi connectivelending Any news on this one as the last update dated 17 September said you had been in contact with the borrower and he would be renewing in two weeks, it will be four weeks on Friday since this update so the renewal obviously never happened. The loan was due to be completed by 22 September so it is now three weeks past due. It has changed its name to 960466071727 and was renewed yesterday I think. Edit. technically it is in limbo currently, it is a somewhat confusing process. Thanks Village Idiot Yes that is definitely not straight forward, I don't pay any attention to renewals as so far have managed to get what I wanted in all of the loans except one. I saw a comment about loans appearing in active and live on a different thread so this seems to be the same. Not sure that schroedinger's cat can apply in the terms of finance though, as pointed out my available plus live for active is more than my account value becuase this loan is both live and active. Surely a loan ceases to be active when it goes live with a new number.
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Post by Badly Drawn Stickman on Oct 13, 2021 11:59:56 GMT
It has changed its name to 960466071727 and was renewed yesterday I think. Edit. technically it is in limbo currently, it is a somewhat confusing process. Thanks Village Idiot Yes that is definitely not straight forward, I don't pay any attention to renewals as so far have managed to get what I wanted in all of the loans except one. I saw a comment about loans appearing in active and live on a different thread so this seems to be the same. Not sure that schroedinger's cat can apply in the terms of finance though, as pointed out my available plus live for active is more than my account value becuase this loan is both live and active. Surely a loan ceases to be active when it goes live with a new number. Oddly I am not that bothered by the mismatched figures, presumably some behind the scenes work is necessary to transfer the loan and pay the interest. I would however prefer to see the previous loan numbers added to the new loan details so a trail is visible. I am keeping fairly tight records currently so tend to know what is happening, but as the loan book grows that could become a pain. It is still comparatively early days for the platform and they do seem to be in listening mode so a good time to get a few tweaks carried out.
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Post by connectivelending on Oct 13, 2021 14:00:55 GMT
Hi connectivelending Any news on this one as the last update dated 17 September said you had been in contact with the borrower and he would be renewing in two weeks, it will be four weeks on Friday since this update so the renewal obviously never happened. The loan was due to be completed by 22 September so it is now three weeks past due. Hi Toffeeboy, Thanks for your message. As per Village Idiot’s correct response, the loan was renewed and been activated today, with the original loan now closed. Regarding renewals, we are looking at making minor changes to assist with providing better clarity when a renewal takes place. Unfortunately, we do see delays between funding and activation of the renewal loan however, this is generally due to a delayed response by borrowers returning documents back to us. We recognise it is not the investors at fault here, so have been paying interest up to the date of the original loan closure, which is partially covered by our admin fees. Hi Badly Drawn Stickman, in regard to the previous loan reference number, we have started to place that in the ‘Summary’ of the loan page. We will monitor and if investors deem it not to be clear we will make changes again till it works. We are listening and do receive improvement feedback from our investors on the forum or by email. So, we do welcome any recommended changes to help improve the user-experience and please keep them coming (just not all at once 😊 ) .
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toffeeboy
Member of DD Central
Posts: 504
Likes: 362
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Post by toffeeboy on Oct 13, 2021 14:59:26 GMT
Hi connectivelending Any news on this one as the last update dated 17 September said you had been in contact with the borrower and he would be renewing in two weeks, it will be four weeks on Friday since this update so the renewal obviously never happened. The loan was due to be completed by 22 September so it is now three weeks past due. Hi Toffeeboy, Thanks for your message. As per Village Idiot’s correct response, the loan was renewed and been activated today, with the original loan now closed. Regarding renewals, we are looking at making minor changes to assist with providing better clarity when a renewal takes place. Unfortunately, we do see delays between funding and activation of the renewal loan however, this is generally due to a delayed response by borrowers returning documents back to us. We recognise it is not the investors at fault here, so have been paying interest up to the date of the original loan closure, which is partially covered by our admin fees. Hi Badly Drawn Stickman , in regard to the previous loan reference number, we have started to place that in the ‘Summary’ of the loan page. We will monitor and if investors deem it not to be clear we will make changes again till it works. We are listening and do receive improvement feedback from our investors on the forum or by email. So, we do welcome any recommended changes to help improve the user-experience and please keep them coming (just not all at once 😊 ) . In regards to both loans being open at the same time would it not make sense to put that the loan is being renewed and the new loan number in the updates of the old loan. An actual link would be even better, at least this way we know what is going via the updates. I notice that on the active loans list it shows which loans have renewed, the details that a loan has previously renewed and a link to the previous loans will be valuable information when the secondary market commences.
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Post by connectivelending on Oct 13, 2021 15:36:32 GMT
Hi Toffeeboy, Thanks for your message. As per Village Idiot’s correct response, the loan was renewed and been activated today, with the original loan now closed. Regarding renewals, we are looking at making minor changes to assist with providing better clarity when a renewal takes place. Unfortunately, we do see delays between funding and activation of the renewal loan however, this is generally due to a delayed response by borrowers returning documents back to us. We recognise it is not the investors at fault here, so have been paying interest up to the date of the original loan closure, which is partially covered by our admin fees. Hi Badly Drawn Stickman , in regard to the previous loan reference number, we have started to place that in the ‘Summary’ of the loan page. We will monitor and if investors deem it not to be clear we will make changes again till it works. We are listening and do receive improvement feedback from our investors on the forum or by email. So, we do welcome any recommended changes to help improve the user-experience and please keep them coming (just not all at once 😊 ) . In regards to both loans being open at the same time would it not make sense to put that the loan is being renewed and the new loan number in the updates of the old loan. An actual link would be even better, at least this way we know what is going via the updates. I notice that on the active loans list it shows which loans have renewed, the details that a loan has previously renewed and a link to the previous loans will be valuable information when the secondary market commences. Hi toffeeboy, We take your idea onboard and will look to make amendments to the system to adopt your suggestion. Hopefully it will show in the next few weeks when the next system update is made.
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