Interest allocation on loans

I think it's well worth reading this thread to help you understand what might be going on if you have the time/interest.

First there maybe more than one issue, AC think they've solved some of the problems.

In your case it sounds as if Come_on_Grandad has it. AIUI there's a problem with the interest if an item is sold more than once in a repayment period (a month) in that the interest doesn't seem to go the right person or persons.

So the question is: the ones that didn't get the correct (or any interest) did you hold them for less than a month cyrilmadrid?

I wasn't aware of this feature going live so will need to check with the rest of the team - I've been out of the office for the last few days.  Showing accrued interest doesn't make sense on a closed loan as it has completed and there will be no further payments.  It should always be zero but I doubt the system is enforcing that in the DB as the accrued interest field is only used for display purposes.

I'll raise it with the team and if I get 10 mins spare in the next couple of days I'll add a bit of code to make sure the accrued interest column is reset to zero for all completed loans.

If you can find the sale in your statement, and give date/time/loan part id/new id  for each of a pair of loan parts, bought at the same auction, sold at the same time, one of which subsequently gave you deferred interest whilst the other did not, then I am sure chris will be very grateful.

I bought some LtL No.1 on the 22/4 with some id's that are similar. Someone please correct me if I'm wrong but I think that means that it's been bought and sold quickly.

What I'm supposing cyrilmadrid is that the one (or possibly all four) of the stock you sold were bought by another buyer, then they sold them again, then finally I or someone else may've bought them. With this bug it seems that the last man holding the stock after being bought/sold several times in a month gets the interest in error.

Here's my statement entry


Can anyone add any insight.

I have literally just finished.  45 users have lost out due to this bug, ~200 have gained.  The total amounts involved are relatively small but I still need to discuss internally with how we are going to handle it.  I'll update once I know.

This has been an absolute pain to track down and correct but involves some loans sold more than once in a given month having the "chain" of deferred interest broken.  So when it came to paying out the deferred interest either none or too few people received that interest.  The code was corrected a few days ago for new sales, I've now worked through and corrected past sales and compiled a full list of those affected and the amounts owed.

cyrilmadrid if you could PM me the email address you use on the site then tomorrow I'll make 100% sure you're on the list, it'll be a good sanity check.

Hello, Chris. Any update on this ? I have not seen any correction go through my account, and have done a few trades on the secondary market this month, so confusion has increased. It would be good to know when the bug is fixed and correction made.

I agree very few of my loans have had an increase in the interest accrued at midnight, but any interest I was expecting to be paid today has hit my account when due (optical and Bolton) and they are now both back to Zero pence.