markyg61
Member of DD Central
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Post by markyg61 on Nov 23, 2021 12:16:20 GMT
Since CP sorted out the Pending Transactions (cleared them !) I seem to be missing a swathe of interest payments this last 10 days. Nine loans should have paid interest by now
Not sure if I can/should put the reference numbers here so if anyone wants to check I can provide them via private message.
Checked each loan and the interest payment for November is missing
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mcfc
I’m invested in Qardus, Loanpad, Proplend, and Crowproperty
Posts: 78
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Post by mcfc on Nov 23, 2021 12:34:28 GMT
Me too Marky I was wondering if it was just me……
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mcfc
I’m invested in Qardus, Loanpad, Proplend, and Crowproperty
Posts: 78
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Post by mcfc on Nov 24, 2021 11:18:42 GMT
I have been credited with my first interest payment today since 12 Nov.
I have a largish 5 figure diverse portfolio and would normally expect very regular interest payments to be made into my account. A 12 day gap is a most unusual and somewhat concerning development.
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markyg61
Member of DD Central
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Post by markyg61 on Nov 24, 2021 11:23:07 GMT
one loan, 16 P*** A*****, D****, CT** 1** shows 14/11/2021, interest payment paid. It's just showed up this morning up in my "Transaction History", Interest payment - 24/11/2021
A 10 day delay .....a bit disconcerting.
now what about all the other loans waiting to be paid out ?!
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mcfc
I’m invested in Qardus, Loanpad, Proplend, and Crowproperty
Posts: 78
Likes: 46
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Post by mcfc on Nov 24, 2021 12:07:34 GMT
I have unfortunately grown somewhat disillusioned with CP.
I have today completed and posted IFSA transfer forms to them and will begin my withdrawal and transfer of funds to another provider.
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Ace
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Post by Ace on Nov 24, 2021 12:27:43 GMT
I have unfortunately grown somewhat disillusioned with CP. I have today completed and posted IFSA transfer forms to them and will begin my withdrawal and transfer of funds to another provider. Normally ISA transfer forms are sent to the receiving organisation.
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mcfc
I’m invested in Qardus, Loanpad, Proplend, and Crowproperty
Posts: 78
Likes: 46
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Post by mcfc on Nov 24, 2021 12:37:14 GMT
I have been sent the paperwork from the “Receivers” ,… in this case Nutmeg. They have given me instructions to post the transferral request to CP at the offices at 133 Whitechapel.
I have chosen Nutmeg as I have other non ISA accounts with them that I have been very pleased with. I feel my P2P portfolios were a little over exposed, and so have chosen CP to draw down from given some growing concerns I have about the business.
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cb25
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Post by cb25 on Nov 25, 2021 11:17:33 GMT
I have unfortunately grown somewhat disillusioned with CP. I have today completed and posted IFSA transfer forms to them and will begin my withdrawal and transfer of funds to another provider. Likewise. I messaged CP just over a week ago to say I had two loans with what appears to be missing interest payments. No answer as of today.
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Joss
Posts: 15
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Post by Joss on Jan 4, 2022 16:59:44 GMT
What happened about these missing payments in the end? Did those who chased them get them in the end?
I'm looking at my annual figures for 2021 and Crowd Property is well down compared to what I was expecting. Am I going to have to trawl through all the loans and payments to track down missing cash?
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Post by overthehill on Jan 4, 2022 20:17:23 GMT
What happened about these missing payments in the end? Did those who chased them get them in the end? I'm looking at my annual figures for 2021 and Crowd Property is well down compared to what I was expecting. Am I going to have to trawl through all the loans and payments to track down missing cash?
What I do is use the data from the 'download pledge summary button' to populate my own spreadsheet, CP doesn't mess with your historical loan order so it's actually quite easy. Create an extra 2 columns in your spreadsheet to give the accrued interest and monthly interest using basic equations. Keep updating your spreadsheet, only the 5 columns from start date to interest paid need to be copied and pasted everytime, your custom columns will update automatically. The sum of those columns will give you the total accrued interest and monthly interest. I also duplicate the amount column to give me a total portfolio value at any time, just update it as the loan is repaid, can be useful to compare against your dashboard amount which is less than reliable !
You might feel like you're short of interest but remember most loans pay interest at the end of the loan.
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Joss
Posts: 15
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Post by Joss on Jan 5, 2022 15:48:10 GMT
What happened about these missing payments in the end? Did those who chased them get them in the end? I'm looking at my annual figures for 2021 and Crowd Property is well down compared to what I was expecting. Am I going to have to trawl through all the loans and payments to track down missing cash?
What I do is use the data from the 'download pledge summary button' to populate my own spreadsheet, CP doesn't mess with your historical loan order so it's actually quite easy. Create an extra 2 columns in your spreadsheet to give the accrued interest and monthly interest using basic equations. Keep updating your spreadsheet, only the 5 columns from start date to interest paid need to be copied and pasted everytime, your custom columns will update automatically. The sum of those columns will give you the total accrued interest and monthly interest. I also duplicate the amount column to give me a total portfolio value at any time, just update it as the loan is repaid, can be useful to compare against your dashboard amount which is less than reliable !
You might feel like you're short of interest but remember most loans pay interest at the end of the loan.
Thanks a lot, and yeah, good point about most interest being paid at the end. That probably explains the majority of the apparent discrepancy. I wish CP made things easier for us investors. The lending side of their business appears to be top notch but the investor interface is found wanting in so many ways, particularly when it comes to checking figures, profits, etc.
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Post by Penny Pincher on Jan 13, 2022 12:44:45 GMT
I've just reconciled my Crowd Property account and found nine loans with missing or late interest payments. It seems that most of the missing payments are for loans that started in early November 2021 but have not yet paid any interest, with the occasional late payment from earlier loans that have previously paid interest.
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Ace
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Post by Ace on Jan 13, 2022 13:17:52 GMT
I've just reconciled my Crowd Property account and found nine loans with missing or late interest payments. It seems that most of the missing payments are for loans that started in early November 2021 but have not yet paid any interest, with the occasional late payment from earlier loans that have previously paid interest. I've asked CP to investigate this issue and am awaiting their reply.
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p2pfan
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Full-Time Investor
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Post by p2pfan on Jan 13, 2022 15:06:47 GMT
I've just reconciled my Crowd Property account and found nine loans with missing or late interest payments. It seems that most of the missing payments are for loans that started in early November 2021 but have not yet paid any interest, with the occasional late payment from earlier loans that have previously paid interest. This is shocking! CP make it more difficult than other platforms to reconcile interest figures for individual loans and undoubtedly there will be other loans in this position with missing or late interest payments. I hope CP will address this matter urgently as it shakes one's faith in the platform (though, starting 2022 being realistic about how P2P platforms operate, I very much doubt they will).
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markyg61
Member of DD Central
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Post by markyg61 on Jan 13, 2022 15:14:07 GMT
I've just reconciled my Crowd Property account and found nine loans with missing or late interest payments. It seems that most of the missing payments are for loans that started in early November 2021 but have not yet paid any interest, with the occasional late payment from earlier loans that have previously paid interest.
Are you sure the loans in question pay monthly interest rather than at end of term ?
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