ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329 
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Post by ilmoro on Jul 23, 2016 19:35:20 GMT
Yes, based on response from SS
'Loans with negative terms: Investors continuing to receive interest from borrower, credited monthly.'Just got an e-mail from SS to say that "The borrower is paying the interest on a rolling basis in this instance".My query was not specific to any loan, just all negative duration loans. I've sent a reply to ask why the term (the remaining term) is not updated to indicate the above. The cynic in me is suggesting that SS could be being economical with the truth -- for loans written under the old Ts&Cs, as far as we investors are concerned, SS/Lendy is the borrower. Has anyone ever asked SS specifically about PBL074? (That's the only loan with a negative remaining term that AFAIK was written under the new Ts&Cs.) If the ultimate borrowers really are paying interest monthly, why aren't savingstream making that very clear on the website, rather than letting the info out only when asked, and then only to the individual who asked? Surely this information would be most encouraging to SS investors. And why aren't SS adjusting the remaining terms to accurately reflect how far behind, if at all, the borrowers are. cooling_dude : Did you ever get an answer to your follow-up question? Personally no, it wasnt negative at the time & was supposed to be getting a 3 month extension. Question is do you believe SS when they say a loan has had an extension, particularly as often days remaining dont correspond to original term + extension? At some point you have to have a little faith There is probably a difference between a formal extension & an ad hoc arrangement The cynic in me sells out before the original term - agnostic - but that's becoming harder
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
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Post by cooling_dude on Jul 23, 2016 21:30:57 GMT
Just got an e-mail from SS to say that "The borrower is paying the interest on a rolling basis in this instance".My query was not specific to any loan, just all negative duration loans. I've sent a reply to ask why the term (the remaining term) is not updated to indicate the above. The cynic in me is suggesting that SS could be being economical with the truth -- for loans written under the old Ts&Cs, as far as we investors are concerned, SS/Lendy is the borrower. Has anyone ever asked SS specifically about PBL074? (That's the only loan with a negative remaining term that AFAIK was written under the new Ts&Cs.) If the ultimate borrowers really are paying interest monthly, why aren't savingstream making that very clear on the website, rather than letting the info out only when asked, and then only to the individual who asked? Surely this information would be most encouraging to SS investors. And why aren't SS adjusting the remaining terms to accurately reflect how far behind, if at all, the borrowers are. cooling_dude : Did you ever get an answer to your follow-up question? I never did get a response. I replied to the SS original reply (these e-mails from SS always states " To add additional comments, reply to this email") but I do note that I have never received a reply when communicating via these methods (i.e. replying to the initial message). I've raised a new question to see what their response may be...
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star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
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Post by star dust on Jul 23, 2016 21:46:43 GMT
I never did get a response. I replied to the SS original reply (these e-mails from SS always states " To add additional comments, reply to this email") but I do note that I have never received a reply when communicating via these methods (i.e. replying to the initial message). It's worked for me, I have received follow-up responses on several occasions, usually when seeking further clarification/ answers or sometimes even when asking a brand new question! Just occasionally however, I've not had an answer to the original query at all unless/ until I've reminded them using this mechanism. 
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
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Post by cooling_dude on Jul 23, 2016 21:52:50 GMT
I never did get a response. I replied to the SS original reply (these e-mails from SS always states " To add additional comments, reply to this email") but I do note that I have never received a reply when communicating via these methods (i.e. replying to the initial message). It's worked for me, I have received follow-up responses on several occasions, usually when seeking further clarification/ answers or sometimes even when asking a brand new question! Just occasionally however, I've not had an answer to the original query at all unless/ until I've reminded them using this mechanism. Maybe my replies weren't considered important... As a side note, SS have always responded to my inquiries via the "Contact Us" & "FAQ" pages. They get a lot of stick on here for comms, but I've always been impressed by their swift and informed response. However, I would still like to see them engage more on this forum... 
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Post by martin44 on Jul 23, 2016 22:11:38 GMT
It's worked for me, I have received follow-up responses on several occasions, usually when seeking further clarification/ answers or sometimes even when asking a brand new question! Just occasionally however, I've not had an answer to the original query at all unless/ until I've reminded them using this mechanism. Maybe my replies weren't considered important... As a side note, SS have always responded to my inquiries via the "Contact Us" & "FAQ" pages. They get a lot of stick on here for comms, but I've always been impressed by their swift and informed response. However, I would still like to see them engage more on this forum... Mmmm my experience too im afraid.
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Post by martin44 on Jul 23, 2016 22:18:54 GMT
Maybe my replies weren't considered important... Mmmm my experience too im afraid. Not sure i got it right 1st time . so same again.....
Mmmm my experience too im afraid.
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