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Post by trilby on Aug 14, 2016 15:03:58 GMT
I've posted about this in the FAQ thread but since it's been confirmed that others are seeing the issue, the number of people affected may be significant so it seemed worth its own thread.
I put ten loan parts up for sale around 9am on 1st August and they all sold between 11.15-11.30am that day, which was either shortly after or during the interest payment run. I had held the parts since May so the full month's interest was due for July but it wasn't paid that day, and hasn't been paid since, so I'm still missing the month's interest at the moment. If you sold parts on 1st August then it's worth checking whether you were paid July's interest on those parts.
(I also bought seven loan parts on 1st August before the interest run, and I was credited with two days of interest for each of those parts during the run, which is pretty weird! It remains to be seen if that will have any further effect on these parts.)
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Post by trilby on Aug 18, 2016 10:08:58 GMT
david42 , did you have any luck getting SS to address your instance of this problem? I was told yesterday that the issue had been forwarded to the Head of Accounts but nothing since then - I was hoping for a bit more alacrity around an issue that involves unpaid interest to multiple investors. The amount lost isn't huge (about £34) but the fact that the interest payment process is broken like this is somewhat worrying.
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david42
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Post by david42 on Aug 18, 2016 11:00:12 GMT
I have not yet had a reply to the email I sent Saving Stream on 13th July about my missing July interest for the loan parts I put up for sale on 1st August. It is unusual for Saving Stream to be so slow responding. I am reluctant to chase them too quickly as they may want to understand and fix the problem before resplying to me. Until this is fixed I will be avoiding putting parts up for sale until the monthly interest payment run has completed.
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Post by trilby on Aug 19, 2016 8:19:03 GMT
savingstream , anything you can do here? david42 and I have been trying to get our missing interest payments restored for the last week, to no avail. As we seem to be in this situation solely through the bad luck of having sold loan parts on the morning of 1st August, it's likely that at least a few other people are affected without being aware of it. The specifics of my case are in support ticket 10819.
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Post by savingstream on Aug 19, 2016 8:53:06 GMT
savingstream , anything you can do here? david42 and I have been trying to get our missing interest payments restored for the last week, to no avail. As we seem to be in this situation solely through the bad luck of having sold loan parts on the morning of 1st August, it's likely that at least a few other people are affected without being aware of it. The specifics of my case are in support ticket 10819. The problem was some people put loan puts up for sale whilst we undertaking the interest payment run which takes an hour or so. Call it the interest purgatory. This has been fixed for future payments but we have to go through and fix each sale manually. It is on the list of things to do, but is quite onerous and manual...
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david42
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Post by david42 on Aug 19, 2016 9:57:42 GMT
Well done trilby for provoking Saving Stream into replying. They have not yet replied to my email. I had given up trying to get them to respond on this forum. Update: Tim replied to my email at 11am today. I have checked my account and I now have all my interest. |
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Post by trilby on Aug 19, 2016 10:17:02 GMT
The problem was some people put loan puts up for sale whilst we undertaking the interest payment run which takes an hour or so. Call it the interest purgatory. This has been fixed for future payments but we have to go through and fix each sale manually. It is on the list of things to do, but is quite onerous and manual... Thank you for addressing this, I can confirm that all interest payments in my account are now present and correct. It's good to hear that the problem shouldn't happen again on future payment runs, hopefully anyone else with missing payments (whether they've noticed or not) will have them restored soon.
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Post by trilby on Sept 1, 2016 9:26:36 GMT
I was careful not to put anything up for sale this morning, so I can't say for sure whether the problem of missing interest is fixed. (Hopefully someone who did can confirm either way?)
However I bought a few loan parts this morning, and again I received two days interest for them during today's interest run. And for the loan parts for which this happened on 1st August, I received a full 31 days interest today, which means that I got a total of 33 days of interest for them in August.
Not that I'm complaining about extra interest, but it seems only fair to point it out in case SS want to fix it!
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locutus
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Post by locutus on Sept 1, 2016 9:43:29 GMT
I was careful not to put anything up for sale this morning, so I can't say for sure whether the problem of missing interest is fixed. (Hopefully someone who did can confirm either way?) However I bought a few loan parts this morning, and again I received two days interest for them during today's interest run. And for the loan parts for which this happened on 1st August, I received a full 31 days interest today, which means that I got a total of 33 days of interest for them in August. Not that I'm complaining about extra interest, but it seems only fair to point it out in case SS want to fix it! If you want SS to fix this, your best bet is to email them.
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Post by trilby on Sept 1, 2016 9:53:25 GMT
You'd think so, but when I had interest payments missing I emailed them repeatedly over the course of a week and got no reply until I invoked their username in the post above. And I'm fine with them not fixing this  (Or the bonus day of interest that you get for selling a loan part that you bought in a previous month...) |
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locutus
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Post by locutus on Sept 1, 2016 10:00:38 GMT
You'd think so, but when I had interest payments missing I emailed them repeatedly over the course of a week and got no reply until I invoked their username in the post above. And I'm fine with them not fixing this (Or the bonus day of interest that you get for selling a loan part that you bought in a previous month...) Seems fair to me. It is your duty to report shortfalls and their duty to check for overpayments. When running a platform like SS, there should be a monthly reconciliation to check that the interest payments for the total of all loans exactly matches the interest paid to investors for their loan parts. I expect teething problems with edge cases in the first few months of a new platform but they really should get a handle on this now. For what it is worth, when I was underpaid, SS sorted it the very same day.
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Post by mrclondon on Sept 1, 2016 10:50:28 GMT
It wasn't clear from savingstream 's post whether the fix was meant to apply for loans sold on 1st August, or whether it would only apply for loans sold today (1st September) and subsequent interest payment days. In any case, the loan parts I put up for sale on 1st August have not been credited with intrest for the 1 day. I'm not going to bother complaining to SS though. |
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locutus
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Post by locutus on Sept 1, 2016 10:55:54 GMT
It wasn't clear from savingstream 's post whether the fix was meant to apply for loans sold on 1st August, or whether it would only apply for loans sold today (1st September) and subsequent interest payment days. In any case, the loan parts I put up for sale on 1st August have not been credited with intrest for the 1 day. I'm not going to bother complaining to SS though. If you put a loan part up for sale on the 1st August, are you not entitled to zero days interest as you haven't held past midnight?
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Post by mrclondon on Sept 1, 2016 10:59:13 GMT
It wasn't clear from savingstream 's post whether the fix was meant to apply for loans sold on 1st August, or whether it would only apply for loans sold today (1st September) and subsequent interest payment days. In any case, the loan parts I put up for sale on 1st August have not been credited with intrest for the 1 day. I'm not going to bother complaining to SS though. If you put a loan part up for sale on the 1st August, are you not entitled to zero days interest as you haven't held past midnight? No because in general interest payments are upto the last day of the previous month. So parts sold on the 1st should post 1 day of interest; just as parts sold on the 2nd post (correctly) 2 days of interest etc. (I cross check every single interest payment on SS for accurcay as the previous software incarnation was riddled with errors)
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Post by Come_on_Grandad on Sept 1, 2016 11:09:07 GMT
If you put a loan part up for sale on the 1st August, are you not entitled to zero days interest as you haven't held past midnight? No because in general interest payments are upto the last day of the previous month. So parts sold on the 1st should post 1 day of interest; just as parts sold on the 2nd post (correctly) 2 days of interest etc. (I cross check every single interest payment on SS for accurcay as the previous software incarnation was riddled with errors) "for accurcay" Ooops!
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