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Post by oktaeder on Aug 2, 2016 9:20:27 GMT
I'm a bit upset cause of bondora's behaviour. Ok, everybody makes mistakes. But I never heard any sorry.
The story: there is a loan, rather new, just made it first repayment. A little bit late like often, 5 days. So no DCA involved.
BUT: bondora took write offs. What wasn't correct at all.
But that's not a bug but a feature. This very borrowers has another loan in delay where DCA wrote a letter.
So they took write offs from ALL loans.
What does me matter a other loan nut my own? Nothing. I can't even know about them. So write offs only have to happe to loans they are concerning.
I wrote to Pärtel Tomberg.
I didn't like this change to the DCA. But it has not to be a self-service to generate illegal write off.
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carlos
I'm short Bondora and long p2p.
Posts: 104 
Likes: 21
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Post by carlos on Aug 2, 2016 9:52:44 GMT
That IS crazy... By definition Write-Off should be only in case of succesful recovery, thats why they call it Success Fee....
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Post by oktaeder on Aug 2, 2016 18:55:28 GMT
Seems there will be a solution after taking with Pärtel.
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Post by buttchopf23 on Aug 2, 2016 19:10:06 GMT
Hopefully they will resolve this. Furthermore I dislike that some borrowers paid 2cent, one gets to. My account and the other is written off..
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Post by rahafoorum on Aug 2, 2016 19:23:36 GMT
What's also worrying is that the claim about not having to pay DCA fees if borrower pays directly to Bondora, doesn't seem to hold true either.
At least that's what it seems like with the loan where DCA did something in May, full payment was received from borrower and then two months later a write-off was taken from the July payment to cover the May DCA costs.
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Post by oktaeder on Aug 2, 2016 21:08:17 GMT
I guess that have been IT problems. Not all (  ) what bondora brings into the air is well testet. So they have to fix their bugs. Nevertheless other companies use to say "thank you" if you tell them a bug. Bondora ever argues. |
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Post by marthaskirta on Aug 3, 2016 8:21:34 GMT
I'm sorry for your trouble oktaeder. I'm happy that we were able to agree on the solution.
In terms of rahafoorum's post, then as I explained in facebook, that was an technical issue. I would be happy to explain that to you directly once more, rahafoorum.
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carlos
I'm short Bondora and long p2p.
Posts: 104
Likes: 21
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Post by carlos on Aug 3, 2016 9:16:33 GMT
Yes please, many of us are not interested in Facebook as discussion platform.
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Post by buttchopf23 on Aug 3, 2016 9:17:59 GMT
a bit offtopic, but the subject matches...
I just read the recent email from bondora, and what do I see? My Portfolio Manager is switched ON, I never did that! Although, Martha, you stated somewhere else,that this not happens, it happened to me.
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Post by marthaskirta on Aug 3, 2016 10:21:59 GMT
a bit offtopic, but the subject matches...
I just read the recent email from bondora, and what do I see? My Portfolio Manager is switched ON, I never did that! Although, Martha, you stated somewhere else,that this not happens, it happened to me. Please e-mail our support (investor@bondora.com) your details and they will check it out ASAP or you can send me a message directly.
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Post by coolrunning on Aug 3, 2016 10:22:09 GMT
Yes please, many of us are not interested in Facebook as discussion platform. I agree. Facebook is not for me.
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Post by marthaskirta on Aug 3, 2016 10:33:43 GMT
Yes please, many of us are not interested in Facebook as discussion platform. I agree. Facebook is not for me. Sure. No problem. The borrower that rahafoorum mentioned was in debt until the midst of May and was handled by the DCA. This specific loan was affected since at the time we did the write-off for the older repayments there was no debt anymore for this customer and we were not able to write-off part of it. As explained in our blog post, we did not have the system place for it before. Hence it was scheduled for the next repayment. When the next repayment came the write-off for the May repayment was done. This is one of the exceptional cases and I understand the confusion. General (not related to this specific loan) - the write-offs for the future repayments (where it is applicable) are done at the same time when the repayment is done. Please let me know if I can explain it more.
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Post by rahafoorum on Aug 5, 2016 19:21:24 GMT
I personally at least didn't understand the explanation.
From what I understood of previous announcement, the process was supposed to work in the following way:
1. Loan goes 7 days overdue and is passed to DCA.
2. If the borrower now repays:
a) directly to Bondora, then no DCA fees will be applied and full payment is received by investor
b) to DCA, then DCA will subtract their fees and forward the rest of the payment to Bondora which is then paid to investors with the DCA fees already taken out of it
For example:
Loan A is overdue with €50.
a) €50 is repaid directly, investors will receive €50
b) €50 is paid to DCA, DCA takes €10 as success fee, forwards €40 to Bondora and investor will receive €40 with €10 shown as write-off.
In this specific case, how were the investors paid full amount in May if it was scenario b) and the borrower paid through DCA and DCA didn't forward the full amount to Bondora?
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Post by kissmyjazz on Aug 5, 2016 22:58:57 GMT
I agree, I still do not understand it either, especially the part that Bondora was not able to write off anything in May when according to my datasets Bondora started to apply write-offs from April.
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Post by oktaeder on Aug 6, 2016 6:38:28 GMT
I guess the booking was not so straightforward for the first months and the fees paid later.
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) what bondora brings into the air is well testet. So they have to fix their bugs.
