stevio
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Post by stevio on Jun 16, 2016 7:46:21 GMT
What happens if you have enough up for sale to cover the balance outstanding, but it's taking ages to sell (like now)?
Will SS take that into account or just reverse transactions?
Does it reverse them in any order? Like last purchased or first purchased?
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SteveT
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Post by SteveT on Jun 16, 2016 7:47:16 GMT
What happens if you have enough up for sale to cover the balance outstanding, but it's taking ages to sell (like now)? Will SS take that into account or just reverse transactions? Does it reverse them in any order? Like last purchased or first purchased? If you don't pay for the parts you've just been allocated, they will be cancelled.
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adrianc
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Post by adrianc on Jun 16, 2016 7:50:14 GMT
What happens if you have enough up for sale to cover the balance outstanding, but it's taking ages to sell (like now)? Will SS take that into account or just reverse transactions? It's unsold, it's unsold. It might be part-sold at the front of the queue, it might be at the back of one of the three £120k+ queues. It's unsold, the money isn't in your account.
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locutus
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Post by locutus on Jun 16, 2016 8:38:01 GMT
What happens if you have enough up for sale to cover the balance outstanding, but it's taking ages to sell (like now)? Will SS take that into account or just reverse transactions? It's unsold, it's unsold. It might be part-sold at the front of the queue, it might be at the back of one of the three £120k+ queues. It's unsold, the money isn't in your account. I disagree. If you have £1000 on the SM that has £999 sold, then your account shows a deficit of £1000 but really SS has received £999 from some other investor to buy your loan parts and SS are just not updating your account in real time.
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adrianc
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Post by adrianc on Jun 16, 2016 8:41:36 GMT
It's unsold, it's unsold. It might be part-sold at the front of the queue, it might be at the back of one of the three £120k+ queues. It's unsold, the money isn't in your account. I disagree. If you have £1000 on the SM that has £999 sold, then your account shows a deficit of £1000 but really SS has received £999 from some other investor to buy your loan parts and SS are just not updating your account in real time. <shrug> It's not a question of what you might think would be the right thing to do, it's a question of how SS's policy works. Your account does not get credited for a part-sold loan part. You don't get credited until it's 100% sold - even if it's a £100,000 part and £99,999.99 has sold. If you've got a part that's part-sold, and want that credited, you need to buy the remainder and re-list it. And, if there's a queue, that remainder would be at the back. We already know that SS's -ve balance calculations are fairly broad-brush. If you bought £10,000 on Monday, then another £100 on Wednesday, with a £10,000 credit arriving on Thursday then - by Friday - you are deemed to have been in -ve balance since Monday. Because, of course, you have been.
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arbster
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Post by arbster on Jun 16, 2016 8:49:05 GMT
If you've got a part that's part-sold, and want that credited, you need to buy the remainder and re-list it. And, if there's a queue, that remainder would be at the back. Can't you just cancel the remainder, or does cancellation get disabled once it's part sold?
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jun 16, 2016 8:50:25 GMT
If you've got a part that's part-sold, and want that credited, you need to buy the remainder and re-list it. And, if there's a queue, that remainder would be at the back. Can't you just cancel the remainder, or does cancellation get disabled once it's part sold? You can't cancel when part sold, but you can simply buy the remainder back via the SM.
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adrianc
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Post by adrianc on Jun 16, 2016 8:51:29 GMT
If you've got a part that's part-sold, and want that credited, you need to buy the remainder and re-list it. And, if there's a queue, that remainder would be at the back. Can't you just cancel the remainder, or does cancellation get disabled once it's part sold? It says "Not available" where the cancel button was. Whether it's 1p gone out of a £100,000 part or 1p left.
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arbster
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Post by arbster on Jun 16, 2016 8:51:43 GMT
Can't you just cancel the remainder, or does cancellation get disabled once it's part sold? You can't cancel when part sold, but you can simply buy the remainder back via the SM. Thanks - never had a part sold part.
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Investboy
Member of DD Central
Trying to recover from P2P revolution
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Post by Investboy on Jun 16, 2016 9:32:14 GMT
The 48h grace INPL period soon will end and I wonder how much of various parts will get cancelled. We may end up with few more millions on SM. A bit of vicious circle
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nick
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Post by nick on Jun 16, 2016 9:34:33 GMT
Maybe its already started - sizeable amount of the new loans have just now started coming onto the SM....
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mgx
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Post by mgx on Jun 16, 2016 10:03:00 GMT
Well I signed in yesterday to find that my balance was -ve I received the 'going live' email on Tuesday, but read it quickly as two loans and not a from/to inclusive list of nine that required funding. I sent payment immediately upon realising my mistake and my loan parts have been honoured, but it now seems that they have withdrawn my ability to prefund loans which I thought was a bit harsh for a first offence. I have written to ask for some compassion for a first time offender.
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Liz
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Post by Liz on Jun 16, 2016 10:05:38 GMT
What happens if you have enough up for sale to cover the balance outstanding, but it's taking ages to sell (like now)? Will SS take that into account or just reverse transactions? Does it reverse them in any order? Like last purchased or first purchased? You will have to cancel the sale and sell one of the liquid loans to fund the deficit, or find the cash. Savingstream cant wait weeks for the funds to pay for the loan purchase.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jun 16, 2016 10:18:16 GMT
Well I signed in yesterday to find that my balance was -ve I received the 'going live' email on Tuesday, but read it quickly as two loans and not a from/to inclusive list of nine that required funding. I sent payment immediately upon realising my mistake and my loan parts have been honoured, but it now seems that they have withdrawn my ability to prefund loans which I thought was a bit harsh for a first offence. I have written to ask for some compassion for a first time offender. You're not being punished, this is a fault with the prefund page that is only effecting some users (including me, and I don't have a negative balance). Its been discussed on this forum over the last couple of days. I thought it had been sorted, but my pre-funding has yet again been set at 0, and I can't change it.
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SteveT
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Post by SteveT on Jun 16, 2016 10:30:27 GMT
mgx / cooling_dude, it's just a website display problem with the "tiles" view, which is showing £0.00 across all Pending loans currently. If you log in via a PC and switch instead to "list" view (the 3 lines icon below "Available Funds") you'll see your pre-fund settings as normal.
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