Post by mikeb on Mar 31, 2014 17:29:01 GMT
This is an odd one. They've not paid anything for a while (join the club). Earlier this month, a payment comparable to a single month's payment was made and credited to me. Statement agrees. The comments reflect that the borrower has made 1 months payment. All fine and dandy.
But :-
The "number of days late" count went from 548 to 487 in a single step. That's 61 days of lateness wiped off for one month's payment.
So looking at the repayments tab (partial dump only)
It would appear that the payment has been credited to the wrong month (14, not 13). No biggie. But it means that the method for calculating "days late" seems to be to count back from "now" to the last "paid" -- which only works if you apply payments in the right order. Or something else is wrong and they've cleared 2 months off from "late" to "paid" at once, in error.
I contacted FC about this, after a very long pause, I was assured that payments are applied in the right order, and that everything's fine and they are 16 months late. I can see that. I want to know how it got to 16 months late from 18 months late in 1 month's payment. No answer to that yet.
I don't see how it is "fine" that yet another aspect of FC's data reporting is fundamentally screwed up, and that reporting it doesn't get it noticed.
So there you go. IMO "Days late" is another fictional figure until this is explained, acknowledged and fixed.
Anyone else with this loan have better insight as to what happened during this month?
This is why I keep my own records of loan activity/progress etc. .... otherwise you'd never notice these glitches.
But :-
The "number of days late" count went from 548 to 487 in a single step. That's 61 days of lateness wiped off for one month's payment.
So looking at the repayments tab (partial dump only)
19/07/2012 £926.95 9 paid
19/08/2012 £926.95 10 paid
19/09/2012 £926.95 11 paid
19/10/2012 £926.95 12 paid
19/11/2012 £926.95 13 late
19/12/2012 £926.95 14 paid
19/01/2013 £926.95 15 late
19/02/2013 £926.95 16 late
19/03/2013 £926.95 17 late
19/04/2013 £926.95 18 late
It would appear that the payment has been credited to the wrong month (14, not 13). No biggie. But it means that the method for calculating "days late" seems to be to count back from "now" to the last "paid" -- which only works if you apply payments in the right order. Or something else is wrong and they've cleared 2 months off from "late" to "paid" at once, in error.
I contacted FC about this, after a very long pause, I was assured that payments are applied in the right order, and that everything's fine and they are 16 months late. I can see that. I want to know how it got to 16 months late from 18 months late in 1 month's payment. No answer to that yet.
I don't see how it is "fine" that yet another aspect of FC's data reporting is fundamentally screwed up, and that reporting it doesn't get it noticed.
So there you go. IMO "Days late" is another fictional figure until this is explained, acknowledged and fixed.
Anyone else with this loan have better insight as to what happened during this month?
This is why I keep my own records of loan activity/progress etc. .... otherwise you'd never notice these glitches.
