Balder
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Post by Balder on Feb 9, 2016 10:36:05 GMT
Thought I'd try Rebs - invested in the above only to see on the site today it is straight into arrears with a 01/01/1970 payment date - doesn't inspire confidence in the running of the technology side of the site..................................
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SteveT
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Post by SteveT on Feb 9, 2016 10:39:47 GMT
Thought I'd try Rebs - invested in the above only to see on the site today it is straight into arrears with a 01/01/1970 payment date - doesn't inspire confidence in the running of the technology side of the site.................................. Haha, welcome to the wacky world of ReBS. That tends to mean its a new loan and they haven't loaded the payment schedule yet. Sometimes takes a few days / weeks (months occasionally) for all the paperwork to be completed and for the loan to be released for SM trading. The real fun (not!) begins once payments actually are late, an all too frequent occurrence recently. [Btw, don't expect your ReBS figures ever to make complete sense. My "Dashboard" currently fails to reconcile by about £7, a figure that wanders up and down each month without obvious reason and which ReBS appear powerless / disinclined to resolve]
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Balder
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Post by Balder on Feb 9, 2016 11:12:21 GMT
Thanks Stevet.
Well if they can't be ars** then I won't be increasing my investment.....
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Post by rebsrep on Feb 9, 2016 11:17:33 GMT
Thought I'd try Rebs - invested in the above only to see on the site today it is straight into arrears with a 01/01/1970 payment date - doesn't inspire confidence in the running of the technology side of the site.................................. Colin The 1/1/1970 is as Stevet says a loan that has completed the auction process but the payment schedule hasn't quite been finalised. That date has been chosen as a date that is obviously wrong. As with lots of software, a small change like displaying a holding message instead of a 1970 date is lot's of development work to change and is one of many non-critical tweaks in the pipeline. At a simplistic level (I'm not a programmer myself) the date field needs an entry, and the database field is coded to only accept valid dates, to reduce errors e.g. you can't input 30th February, hence we can't put say "repayment schedule pending" in this field because the underlying integrity of the database relies on it being a valid date in that field.
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Post by rebsrep on Feb 9, 2016 11:19:49 GMT
don't expect your ReBS figures ever to make complete sense. My "Dashboard" currently fails to reconcile by about £7, a figure that wanders up and down each month without obvious reason and which ReBS appear powerless / disinclined to resolve] Stevet Please pm me your issues on the dashboard calculations and I'll ensure they are looked at to determine the differences and to correct them or give you an explanation as to why they don't reconcile with your own figures. We shouldn't be displaying incorrect data on anyone's dashboard.
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SteveT
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Post by SteveT on Feb 9, 2016 11:48:31 GMT
Stevet Please pm me your issues on the dashboard calculations and I'll ensure they are looked at to determine the differences and to correct them or give you an explanation as to why they don't reconcile with your own figures. We shouldn't be displaying incorrect data on anyone's dashboard. Thanks. I've done so.
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SteveT
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Post by SteveT on Feb 10, 2016 12:16:43 GMT
rebsrep, I hope you received my message OK? On reflection, I thought I'd post it here too (without my account ID) as I'm happy to share the figures and am interested to know if it's just my account that has this problem or it's a common issue: Hi, thanks for offering to take a look at why my Dashboard figures never reconcile. I asked ReBS customer service to look at it 4 or 5 months ago, a message which was ignored for a long time followed by a reply eventually to say they'd corrected it. By the time I'd logged in to look, it was again out of balance and, looking at the figures today, the delta is now nearly £10: My current ReBS "cash stake" is £2300 (ie. sum of my cash deposits less my cash withdrawals; I only ever move sums around in multiples of £100). The stake used to be about 10x higher but I'm steadily disinvesting and withdrawing. Adding the following current Dashboard figures to the cash stake: Interest Received of £994.34 Transaction Gains / Losses of £260.12 Promotional Credits of £34.10 Fees of -£39.89 gives an expected "total account value" of £3548.67 Coming at it from the other direction, the Dashboard currently shows: Investments of £3259.08 Defaults of £168.33 Bad Debt of £0.00 Available Funds of £131.00 Which, when added together, gives a "total account value" of £3558.41 Hence there is an unexplained delta of £9.74
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Balder
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Post by Balder on Feb 17, 2016 14:14:13 GMT
Thought I'd try Rebs - invested in the above only to see on the site today it is straight into arrears with a 01/01/1970 payment date - doesn't inspire confidence in the running of the technology side of the site.................................. Colin The 1/1/1970 is as Stevet says a loan that has completed the auction process but the payment schedule hasn't quite been finalised. That date has been chosen as a date that is obviously wrong. As with lots of software, a small change like displaying a holding message instead of a 1970 date is lot's of development work to change and is one of many non-critical tweaks in the pipeline. At a simplistic level (I'm not a programmer myself) the date field needs an entry, and the database field is coded to only accept valid dates, to reduce errors e.g. you can't input 30th February, hence we can't put say "repayment schedule pending" in this field because the underlying integrity of the database relies on it being a valid date in that field. It is now 17/2/16, loan was completed 4/2/16. Comment above on the 9th stated "payment hasn't quite been finalised". Can you please define "quite" and why doesn't any update comms come out explaining the situation.
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Balder
Member of DD Central
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Likes: 614
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Post by Balder on Feb 18, 2016 11:23:34 GMT
Colin The 1/1/1970 is as Stevet says a loan that has completed the auction process but the payment schedule hasn't quite been finalised. That date has been chosen as a date that is obviously wrong. As with lots of software, a small change like displaying a holding message instead of a 1970 date is lot's of development work to change and is one of many non-critical tweaks in the pipeline. At a simplistic level (I'm not a programmer myself) the date field needs an entry, and the database field is coded to only accept valid dates, to reduce errors e.g. you can't input 30th February, hence we can't put say "repayment schedule pending" in this field because the underlying integrity of the database relies on it being a valid date in that field. It is now 17/2/16, loan was completed 4/2/16. Comment above on the 9th stated "payment hasn't quite been finalised". Can you please define "quite" and why doesn't any update comms come out explaining the situation.
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Post by rebsrep on Feb 18, 2016 12:38:25 GMT
Colin The 1/1/1970 is as Stevet says a loan that has completed the auction process but the payment schedule hasn't quite been finalised. That date has been chosen as a date that is obviously wrong. As with lots of software, a small change like displaying a holding message instead of a 1970 date is lot's of development work to change and is one of many non-critical tweaks in the pipeline. At a simplistic level (I'm not a programmer myself) the date field needs an entry, and the database field is coded to only accept valid dates, to reduce errors e.g. you can't input 30th February, hence we can't put say "repayment schedule pending" in this field because the underlying integrity of the database relies on it being a valid date in that field. It is now 17/2/16, loan was completed 4/2/16. Comment above on the 9th stated "payment hasn't quite been finalised". Can you please define "quite" and why doesn't any update comms come out explaining the situation. You receive interest from the auction close, so in the case you state from 4th February. We then use all best endeavours to get the loan live as soon as we can, but often there are documents to sign relating to security on assets etc and the borrower, the solicitor/bank/accoutant etc may take their time getting back to us. We want a loan to go live as much as you do. Hence an email is issued when a loan goes live and the secondary market is open. We don't want to bombard users with updates.
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