blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jun 14, 2015 11:12:35 GMT
12170 should have paid yesterday, today it is processing. OK it is a small thing and we get used to this sort of problem with FC, but we should not. This is a property loan and FC hold the interest. They have taken this money up front from me so that they can pay it back to me in instalments monthly. It is a pretended 'interest only' loan which allows FC to take their fee from the pretended interest payments and allows the SM to work. For the borrower the interest is rolled up - though no doubt the interest money is held by FC in a client account which technically belongs to the borrower.
OK, I can live with all that, but why cannot FC make the interest payments with the money it holds on time, 100% of the time? You would think this the essence of the basic operation. There is no answer outside of incompetence.
|
|
|
|
Post by goldservice on Jun 14, 2015 12:27:41 GMT
I have noticed that RS never makes payments or repayments on Saturday or Sunday. Perhaps they know something (to do with the banking system?) that Furiously Crunching do not.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jun 14, 2015 18:52:13 GMT
In this case there is no banking involved. It is the first payment and they have probably screwed something up and the FC computer says no. There is no-one else to blame. I always suspected that many of the late first payments with 'administrative errors' were down to Finding Cover.
|
|
wysiati
Member of DD Central
Posts: 397
Likes: 86
|
Post by wysiati on Jun 14, 2015 22:14:54 GMT
In this case there is no banking involved. It is the first payment and they have probably screwed something up and the FC computer says no. There is no-one else to blame. I always suspected that many of the late first payments with 'administrative errors' were down to Finding Cover. Not just first repayments. There is a general issue as, AIUI from FC, repayments above a certain level still require manual intervention so there have been a number of instances for mid-term loans where there was an error in that part of the process which caused repayments to fall overdue. In the absence of proper notes it might be unfairly assumed that the borrower in each case is at fault which can sully repayment records.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jun 15, 2015 6:26:59 GMT
In this case there is no banking involved. It is the first payment and they have probably screwed something up and the FC computer says no. There is no-one else to blame. I always suspected that many of the late first payments with 'administrative errors' were down to Finding Cover. Not just first repayments. There is a general issue as, AIUI from FC, repayments above a certain level still require manual intervention so there have been a number of instances for mid-term loans where there was an error in that part of the process which caused repayments to fall overdue. In the absence of proper notes it might be unfairly assumed that the borrower in each case is at fault which can sully repayment records. Thanks wysiati, though I am always cautious of Furtive Concealment's explanations - and not sure about dignifying the payment, or the expected payment, with the term repayment in this case. How about, rather than giving the supposed interest to Forgotten Cash for them to pay back to me in monthly instalments and screw up, that I keep it myself and set it aside in my own accounts and make monthly notional interest payments to myself? Finely Chopped can have their 1% fee in full up front and try to pay it to themselves monthly. (Yes I know the SM would not work). What I would like to see is Faintly Concious to not notice this loan still processing, to forget to turn the manual handle (retry) on the side of the computer, and to see how they cope when the computer says late - which is what is will actually be in a few days. The poor borrower might get a call from the collections team, and the payment history would have to record the actual (not pretended) lateness.
|
|
|
|
Post by betterthanworking on Jun 15, 2015 11:03:35 GMT
Status on the repayments tab is now "retry".
|
|
|
|
Post by loanstar on Jun 16, 2015 6:41:48 GMT
Still no sign of payment this morning.
|
|
fasty
Member of DD Central
Posts: 1,038 
Likes: 388
|
Post by fasty on Jun 16, 2015 16:22:19 GMT
Funky Chickens were prodded in the other place and are looking into it.
|
|
|
|
Post by loanstar on Jun 16, 2015 17:41:02 GMT
That seems to have done the trick, listed as paid this evening, no longer processing. However not a word from Fried Cats to say sorry, or what went wrong. Par for the course.
|
|
baldpate
Member of DD Central
Posts: 549
Likes: 407
|
Post by baldpate on Jun 16, 2015 18:27:49 GMT
The Fat Controller never says sorry to the pesky trucks. It's because they love us so very much, and of course "Love means never having to ..."
|
|
adrianc
Member of DD Central
Posts: 10,004
Likes: 5,139
Member is Online
|
Post by adrianc on Jul 6, 2015 11:11:41 GMT
They're at it again... Surrey 2 (13169) is "processing".
|
|
adrianc
Member of DD Central
Posts: 10,004
Likes: 5,139
Member is Online
|
Post by adrianc on Jul 6, 2015 12:42:01 GMT
Academic, now. It's paid...
|
|
