ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on May 23, 2014 20:57:23 GMT
I thought I had understood from other threads that loans get pulled from the AM if a payment is late. Wasn't there meant to be a payment from FR today? If, so isn't it late? Or am I getting previous? Last time I'd been expecting to see a payment and it wasn't there I assumed I was supposed to wait till the day after, but it turned out I should expect the payment on the date it says. So, is this late or isn't it? It's certainly still on the AM.
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spockie
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Post by spockie on May 23, 2014 21:07:02 GMT
I had been wondering the same thing. Maybe it only becomes officially late at midnight?
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andy2001
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Post by andy2001 on May 23, 2014 21:07:23 GMT
Not late until midnight.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on May 23, 2014 21:10:05 GMT
Fair enough. Thanks.
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Post by Ton ⓉⓞⓃ on May 23, 2014 23:40:56 GMT
Two in one day after a year of none...
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andy2001
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Post by andy2001 on May 24, 2014 0:35:17 GMT
Two in one day after a year of none... A number of other loans have been a day, or more late, so this is not such a big deal at the moment.
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Post by cyrilmadrid on May 24, 2014 7:22:12 GMT
Sometimes the money seems to reach AC on time, but is posted next day to lenders account. At least this is the answer I got in a couple of such occasions.
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pikestaff
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Post by pikestaff on May 24, 2014 10:53:46 GMT
Given that Monday is a bank holiday I'd not start worrying unless it fails to come in on Tuesday.
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mikeb
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Post by mikeb on May 24, 2014 20:37:59 GMT
Given that Monday is a bank holiday I'd not start worrying unless it fails to come in on Tuesday. ... the time to worry is on Tuesday AND if the comment says "We Are Chasing The Borrower" 
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j
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Post by j on May 24, 2014 21:14:07 GMT
Given that Monday is a bank holiday I'd not start worrying unless it fails to come in on Tuesday. ... the time to worry is on Tuesday AND if the comment says "We Are Chasing The Borrower" I'm not worried at all! This is the first payment & considering the timings (weekend, bank hol) one can anticipate a delay in fund transfers etc. A number of loans have been late in the past on the odd occasion
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on May 25, 2014 8:09:26 GMT
... the time to worry is on Tuesday AND if the comment says "We Are Chasing The Borrower" I'm not worried at all! This is the first payment & considering the timings (weekend, bank hol) one can anticipate a delay in fund transfers etc. A number of loans have been late in the past on the odd occasion I'm not worried either, just trying to understand how the timing of receiving payments into my account at AC works. So far it seems to be pretty random. Sometimes I'm supposed to expect it the day it's due, and sometimes the day after. I guess it must be a manual process at AC that they sometimes get round to and sometimes don't. Clearly in this case, the day after would mean Tuesday. I'm not bothered, as long as I know. With regard to 1st payments often being late, I know that to be true from other platforms. It's annoying, but a fact of life. I don't accept that a bank holiday should affect the timing of a payment to AC though. Any payment due to anywhere on Friday should have had all it's transfers done before any bank holiday cropped up - that didn't start till the day after it should have already arrived, wherever it came from. If my credit card payment had been due on Friday and I didn't get the money there till next Tuesday I can't see them saying "We'll wave the interest - it's been a bank holiday so delays in transfers are to be expected". Why in p2p do we all, myself included, accept such delays with such equanimity (yes, that is a big word for so early on a Sunday isn't it?) - nobody I owed money to would cut me such slack I'm sure. Perhaps I'm out of touch - it's been many a year since I borrowed money, other than the monthly interest free credit card.
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j
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Penguins are very misunderstood!
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Post by j on May 25, 2014 8:42:10 GMT
I'm not worried at all! This is the first payment & considering the timings (weekend, bank hol) one can anticipate a delay in fund transfers etc. A number of loans have been late in the past on the odd occasion I'm not worried either, just trying to understand how the timing of receiving payments into my account at AC works. So far it seems to be pretty random. Sometimes I'm supposed to expect it the day it's due, and sometimes the day after. I guess it must be a manual process at AC that they sometimes get round to and sometimes don't. Clearly in this case, the day after would mean Tuesday. I'm not bothered, as long as I know. With regard to 1st payments often being late, I know that to be true from other platforms. It's annoying, but a fact of life. I don't accept that a bank holiday should affect the timing of a payment to AC though. Any payment due to anywhere on Friday should have had all it's transfers done before any bank holiday cropped up - that didn't start till the day after it should have already arrived, wherever it came from. If my credit card payment had been due on Friday and I didn't get the money there till next Tuesday I can't see them saying "We'll wave the interest - it's been a bank holiday so delays in transfers are to be expected". Why in p2p do we all, myself included, accept such delays with such equanimity (yes, that is a big word for so early on a Sunday isn't it?) - nobody I owed money to would cut me such slack I'm sure. Perhaps I'm out of touch - it's been many a year since I borrowed money, other than the monthly interest free credit card. rr, you make a convincing argument! Come to think of it, why should we acquiesce (another big word for early Sunday morning) to receiving interest late without any explanation or extra fees. All the scenarios you mentioned have occurred in the past, be it with AC or elsewhere. I remember the CC Lei***re loan paid a number of days late in the early days & AC intimated they would pursue extra fees, even though they deemed it a waste of time & unnecessary, ans that extra payment never materialised. The odd slightly la te payment might be forgiven, but it might be happening too often if we didn't make an issue of it
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Post by mrclondon on May 25, 2014 10:10:17 GMT
Its worth noting that FK apply late payment fees on every late payment, and its transparent on the payment schedule of each loan, which shows the date it should have arrived, the date it did arrive, and the increased payment due the following time including the late payment fees. Apart from one persistently late payer (Ran**** H**) most seem to learn the lesson pretty quickly. Perhaps andrewholgate could comment as to any disadvantages of such a policy.
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Post by andrewholgate on May 27, 2014 8:15:48 GMT
Its worth noting that FK apply late payment fees on every late payment, and its transparent on the payment schedule of each loan, which shows the date it should have arrived, the date it did arrive, and the increased payment due the following time including the late payment fees. Apart from one persistently late payer (Ran**** H**) most seem to learn the lesson pretty quickly. Perhaps andrewholgate could comment as to any disadvantages of such a policy. I can't comment on other platforms. At AC we don't have late payment fees. The reason behind this is we have a default interest rate plus we are a secured lender. If the borrower wants to risk their house by not paying us, then that is a hefty gamble to take.
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spockie
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Post by spockie on May 27, 2014 12:32:28 GMT
CC Hotel looking like it might be late for the second month running.
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