nush
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Post by nush on Mar 16, 2017 15:32:19 GMT
im trying to use the prefund section and have had my bids accepted but my available funds have not reduced, i dont think thats how it usually works is it.
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tomtom
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Post by tomtom on Mar 16, 2017 15:37:04 GMT
im trying to use the prefund section and have had my bids accepted but my available funds have not reduced, i dont think thats how it usually works is it. I am having the same problem.
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ganymede
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Post by ganymede on Mar 16, 2017 15:49:25 GMT
Worked for me earlier. Only one thing to note, that one loan is 100% funded already by the pre-funding, that's not meant to happen.
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Post by richardthe4th on Mar 16, 2017 16:00:55 GMT
Worked for me earlier. Only one thing to note, that one loan is 100% funded already by the pre-funding, that's not meant to happen. What's to stop it been 100% 'pre-funded'? It was only quite a small loan....
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madpierre
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Post by madpierre on Mar 16, 2017 16:18:52 GMT
im trying to use the prefund section and have had my bids accepted but my available funds have not reduced, i dont think thats how it usually works is it. I noticed the same thing too but can't remember if that's normal. Let's ask collateral for help please EDIT: It must have been a glitch as I've just tried again and this time the funds were deducted from the available balance - so get back in there quick and pre-fund again!
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ganymede
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Post by ganymede on Mar 16, 2017 16:57:11 GMT
Worked for me earlier. Only one thing to note, that one loan is 100% funded already by the pre-funding, that's not meant to happen. What's to stop it been 100% 'pre-funded'? It was only quite a small loan.... I only meant the levels chosen for pre-funding should last out till bidding starts.
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mrflush
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This is not me
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Post by mrflush on Mar 16, 2017 17:00:28 GMT
But if it's a small loan and with a minimum of £25 to stop it getting silly, it can run out.
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Post by richardthe4th on Mar 16, 2017 17:38:59 GMT
What's to stop it been 100% 'pre-funded'? It was only quite a small loan.... I only meant the levels chosen for pre-funding should last out till bidding starts. Sorry - I get you now. I suppose the problem is that if you try to set the bid limit at a level that it will make it last you might end up with a limit so low that it's not worth bothering with. Can't see you can go any lower than £25 really.
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Post by richardthe4th on Mar 16, 2017 17:44:05 GMT
I see that there's £0.04p left on the cartier watch if anyone wants it - I've bid up to the limit!
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nush
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Post by nush on Mar 16, 2017 18:49:25 GMT
looks like its working again now but too late for me to get into all of the loans i wanted, never mind next time maybe
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mason
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Post by mason on Mar 16, 2017 18:49:25 GMT
But if it's a small loan and with a minimum of £25 to stop it getting silly, it can run out. This should never happen. If the bid limit cannot be reduced to an appropriate level (I'm not to proud to pick up £5 in a loan), then it should be reduced to £0 for pre-fund. Otherwise it's just fastest finger first with no advance notice.
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elliotn
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Post by elliotn on Mar 17, 2017 3:56:27 GMT
But if it's a small loan and with a minimum of £25 to stop it getting silly, it can run out. This should never happen. If the bid limit cannot be reduced to an appropriate level (I'm not to proud to pick up £5 in a loan), then it should be reduced to £0 for pre-fund. Otherwise it's just fastest finger first with no advance notice. Whether you call it a pre-fund or a go-live they would both have been 10am - & fff for micro loans - or do you believe a straight go-live should have 24 hrs notice (not always the case)?
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mason
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Post by mason on Mar 17, 2017 6:06:22 GMT
This should never happen. If the bid limit cannot be reduced to an appropriate level (I'm not to proud to pick up £5 in a loan), then it should be reduced to £0 for pre-fund. Otherwise it's just fastest finger first with no advance notice. Whether you call it a pre-fund or a go-live they would both have been 10am - & fff for micro loans - or do you believe a straight go-live should have 24 hrs notice (not aleays the case)? I believe there should be a reasonable amount of notice so that those who get the email later than others are not unfairly disadvantaged. If the purpose of pre-funding is to allow people who cannot make the usual 10am slot to get a bite of the loan, then clearly a prefund that does not last any longer than a normal go-live serves no purpose. Having loans appear in the pipeline for immediate funding, and with time pressure to act immediately, gives potential investors no time to evaluate the investment opportunity.
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Post by Collateral Rep on Mar 17, 2017 7:27:47 GMT
Morning,
As we have grown the smaller loans are becoming a bit of an issue.
We did the small loans today as they were from the same borrower who has used Collateral before, but new there would be some who would miss out even setting our lowest bid limit to date of £20.
If we had given longer notice, it would have still filled with some investors missing out.
We don't want to refuse smaller loans but we may have to review our loan levels based on feedback here.
Many thanks,
Gordon
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elliotn
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Post by elliotn on Mar 17, 2017 7:31:27 GMT
Whether you call it a pre-fund or a go-live they would both have been 10am - & fff for micro loans - or do you believe a straight go-live should have 24 hrs notice (not aleays the case)? I believe there should be a reasonable amount of notice so that those who get the email later than others are not unfairly disadvantaged. If the purpose of pre-funding is to allow people who cannot make the usual 10am slot to get a bite of the loan, then clearly a prefund that does not last any longer than a normal go-live serves no purpose. Having loans appear in the pipeline for immediate funding, and with time pressure to act immediately, gives potential investors no time to evaluate the investment opportunity. I think 25 is a reasonable minimum as with FS pawn so whatever time it appears only 100 FFF investors can get into a 2.5k loan and with anonymous borrowers only cursory DD would be required to check a watch or car retail price for that amount. Perhaps you you should ask Gordon to have a minimum time after email/before putting new loans on the website so everyone had a fair chance to get their 1.50 interest.
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