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Post by cyrilmadrid on Sept 17, 2014 21:36:04 GMT
Here we are, mid September, and this seems to be still outstanding... Not that I am owed a massive amount, but would just like to close this pending issue.
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Post by cyrilmadrid on Oct 3, 2014 22:01:00 GMT
Still not fixed after 5 months...
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Post by bracknellboy on Oct 4, 2014 7:23:12 GMT
Remind me what the issue was again ?
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Post by yorkshireman on Oct 4, 2014 9:51:21 GMT
In a similar vein, I still think that there is an issue surrounding the recovery payment from the furniture retailer (auction 70) which has not been addressed.
I contacted AC in late August regarding this and received an email from the MD dated 26th August stating “I am looking into this further and will respond later today.” I’m still waiting.
This simply isn’t good enough Andrew, whilst we’re only small investors we deserve better treatment and proof that our 2 accounts are in order especially when there are comments from other people regarding anomalies in other areas.
If AC proves that our accounts are in order then I will apologise for going public but let’s see some action first rather than words.
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Post by cyrilmadrid on Oct 4, 2014 15:27:23 GMT
Remind me what the issue was again ? That's the point and why I ask to get this fixed. Time passes and we forget. The issue has to see with interest which was not paid on loan parts which had been sold (and which should have received a deferred interest for the time in your portfolio).
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Post by cyrilmadrid on Dec 8, 2014 7:41:38 GMT
Sorry to have to bring that up every so often, chris, but it is 2 months since my last message here, 7 months since the original problem, and still no fix. Tried to email chris directly but no reply. I know there is not much money involved, but for fairness it should be fixed. |
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Post by chris on Dec 8, 2014 7:43:14 GMT
Sorry to have to bring that up every so often, chris, but it is 2 months since my last message, 7 months since the original problem, and still no fix. I know there is not much money involved, but for fairness it should be fixed. It's on our list but has been lowered in priority. We'll get to it but making sure the loan model is correct is the important first step to being able to check historical calculations.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902 
Likes: 302
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Post by merlin on Dec 8, 2014 9:42:47 GMT
Sorry to have to bring that up every so often, chris, but it is 2 months since my last message, 7 months since the original problem, and still no fix. I know there is not much money involved, but for fairness it should be fixed. It's on our list but has been lowered in priority. We'll get to it but making sure the loan model is correct is the important first step to being able to check historical calculations. Chris. How are you going to deal with loans that have sold and the miscalculations involved with these?
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Post by chris on Dec 8, 2014 10:00:42 GMT
It's on our list but has been lowered in priority. We'll get to it but making sure the loan model is correct is the important first step to being able to check historical calculations. Chris. How are you going to deal with loans that have sold and the miscalculations involved with these? Which loans are these? If you have any specific examples then please let Mark Wardrop know so that he can add it to the list of things the admin team check.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on Dec 8, 2014 14:53:54 GMT
Chris. How are you going to deal with loans that have sold and the miscalculations involved with these? Which loans are these? If you have any specific examples then please let Mark Wardrop know so that he can add it to the list of things the admin team check. Chris. Perhaps I did not make my question to you more clear. So I will give an example: I have sold a number of loans since the new system came into effect causing interest discrepancies. What happens to the money resulting from the corrctions you are now planning to put in place? Do they find their way into my account or that of the buyer or simply just disappear down the plug hole?
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Post by chris on Dec 8, 2014 14:59:40 GMT
Which loans are these? If you have any specific examples then please let Mark Wardrop know so that he can add it to the list of things the admin team check. Chris. Perhaps I did not make my question to you more clear. So I will give an example: I have sold a number of loans since the new system came into effect causing interest discrepancies. What happens to the money resulting from the corrctions you are now planning to put in place? Do they find their way into my account or that of the buyer or simply just disappear down the plug hole? If interest payments haven't yet been made then the system automatically corrects the accrued interest and you'll receive the correct amounts when the borrower makes their payment. If interest payments have already been made then where we are aware of the issue being historic it's back dated and we post corrections where applicable. The issue that cyrilmadrid is posting about is a historic correction, for example. The recent changes to the loan model have been to correct interest as it's accruing. Our intention is to always correct issues for all lenders not just those currently holding loan units. As I said if you are aware of any specific issues where this has not been the case please let Mark Wardrop know so that we can ensure they're definitely still on our to do list.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Dec 8, 2014 15:08:27 GMT
While all this extra work caused by poor initial programming is gradually resulting in accounts being rectified, the whole situation has seriously blotted AC's "copybook", not least in that they are now suggesting they might not even know about all historic discrepancies, ergo they have lost track of what has happened and are relying on lenders' micro-management.
I don't think my account is a long way out... but I don't know.
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Post by chris on Dec 8, 2014 16:14:38 GMT
While all this extra work caused by poor initial programming is gradually resulting in accounts being rectified, the whole situation has seriously blotted AC's "copybook", not least in that they are now suggesting they might not even know about all historic discrepancies, ergo they have lost track of what has happened and are relying on lenders' micro-management. I don't think my account is a long way out... but I don't know. I didn't say that at all. All the information I have is that the loan model is completely fixed and the admin team are reviewing all loans to make sure that the figures put into the model are correct. There's a couple of loans where the *accrued* interest, not paid interest but that showing as accrued which is just a visual aid on the site, needs a button to be pressed in the admin site once the admin team are happy that the loan model is now returning the right values for this and then lenders accounts will be updated. Merlin's post insinuated that there were still issues beyond this that I'm simply not aware of. Bear in mind that we've asked you to direct problems to Mark rather than me so that he can check them from a financial point of view rather than purely technical, so there can well be items that he's aware of that I am not as he's still investigating them. Also I am not the financial brain of the company, I rely on my fellow directors to specify, understand and double check every last financial transaction and calculation on the site, and I also engage with this community to give me that additional insight. What I cannot help with and won't engage with at all in future is people trying to beat us up about non-specific possibly non-existent bugs or issues. I can't help you unless you can tell me what is wrong, or even that something is wrong. Speculation that something may or may not be wrong is incredibly unhelpful and time wasting for all. Every P2P site, every banking site, every site in the world may have a bug - you cannot definitively prove a negative in that way.
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