twoheads
Member of DD Central
Programming
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Post by twoheads on Apr 2, 2017 17:38:15 GMT
My balance is slowly reducing. Are they correcting their error? Yes, my balance is now 1p negative which corrects one of the two errors in my interest. I expect another correction of -£3.29 to occur soon.
Strangely, they're simply changing the transaction log retrospectively rather than adding in new 'correction' transactions.
It will be interesting to see what they will do with my -£3.30 balance if I don't 'correct' it with some extra funding.
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treeman
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Post by treeman on Apr 2, 2017 17:46:10 GMT
My balance is slowly reducing. Are they correcting their error? Certainly looks like it ........... been lurking no doubt  I'll leave it till it's settled to do a bit more checking. I'm expecting it to just be fiddled adjusted on the statement like it never happened, rather than a 'correction' entry and an 'ooops we stuffed up' email. My missus account has gone negative, and the good lady is less than impressed having sold stuff to the penny yesterday to hit zero after interest and her slice of 168 .............. <EDIT> crossed with twoheads
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ferdy
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Post by ferdy on Apr 2, 2017 17:52:48 GMT
So those who don't read this forum will have potential negative balances and with no explanation as to why.
Nice communication SS !
Would have thought they would have sent an email BEFORE making the adjustment, or at least at the same time.
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elsee
Member of DD Central
Retired:D
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Post by elsee on Apr 2, 2017 17:59:29 GMT
My head hurts! None of the figures balance and the statement says they've paid me 12p more than they actually did (I only had 100 in 17 for a few days) (14p if you count the 2p -ive adjustment) they've removed 2p interest so everything should be OK now interest wise but I keep my own spreadsheet and still nothing matches. Time for beer I think:)
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GeorgeT
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Post by GeorgeT on Apr 2, 2017 18:02:06 GMT
I never check my interest. Can't be bothered. As long as it looks about right I'm happy.
I withdrew all my interest yesterday in good faith. Now it seems I will have to send a bit of it back.
Not being able to calculate and pay correct amounts of interest won't do them a lot of favours with the FCA people. That seems a rather basic requirement.
My OCD nature means I like my account in nice round numbers to the nearest £100. Now I'm looking at an odd number of pounds and pence after doing my trading and reconciling yesterday. Mildly irritating and not a sign of financial competence on their part.
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ferdy
Member of DD Central
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Post by ferdy on Apr 2, 2017 18:08:21 GMT
Balance still going down !
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Post by ladywhitenap on Apr 2, 2017 19:15:17 GMT
I requested withdrawal of my interest balance earlier today whereupon the balance set to zero. Now i'm at -£16.35.
I wonder if they will adjust the cash paid to my bank or send a demand to clear a negative balance tomorrow.
Will be interesting to see if they fess up to the error.
LW
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seeingred
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Post by seeingred on Apr 2, 2017 19:23:51 GMT
I am glad I am not the only person affected.
On 1 April after the interest run had completed I checked my tax statement inserting dates from before I started lending to 1 April this year. This was a certain figure £X.
Checking the same data today gives a lower figure £Y.
Taking the difference X-Y yields exactly the amount that my negative balance has increased by, without me buying anything. I know I was going to pay the exact amount owing - and I know how much it was yesterday, today it is larger.
BUT no word of explanation or apology, and no entry on the accounts listing to show a correction.
The email sent to me when I purchased some of the c***** w**** loan states I have a negative balance of £A, and asks me to pay this, but the account listing on the website after this transaction shows a different figure, the difference between the two being exactly the error noted above = X-Y.
So there have been 'corrections' applied to interest payments and account overall balances with no word of explanation.
The word 'unprofessional' comes to mind.
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Post by barberbookie on Apr 2, 2017 19:28:05 GMT
Same problems here. Withdrawn interest to a 0 balance. Its been adjusted twice now. First was -£2.35 and now its at -£7.38.
Nothing on the statement to give me any sort of clue.
Will have to start taking snap shots of everything i do now.
This place gets worse and worse. One thing after another.
Shower of sh*te the lot of em
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jamesc
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Post by jamesc on Apr 2, 2017 19:35:08 GMT
My balance has reduced and I have never invested in any sub 12% loans !
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Post by barberbookie on Apr 2, 2017 19:35:40 GMT
Same problems here. Withdrawn interest to a 0 balance. Its been adjusted twice now. First was -£2.35 and now its at -£7.38. Nothing on the statement to give me any sort of clue. Will have to start taking snap shots of everything i do now. This place gets worse and worse. One thing after another. Shower of sh*te the lot of em Wife has just checked hers. Now -£17.45 from a 0 balance this morning. I give up with them
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 2, 2017 19:38:30 GMT
This happened once before back in the early days of PBL with balances going negative retrospectively. I think my support ticket on the issue is still outstanding :-D
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guff
Posts: 730
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Post by guff on Apr 2, 2017 19:39:04 GMT
My balance is slowly reducing. Are they correcting their error? Yes, my balance is now 1p negative which corrects one of the two errors in my interest. I expect another correction of -£3.29 to occur soon.
Strangely, they're simply changing the transaction log retrospectively rather than adding in new 'correction' transactions.
It will be interesting to see what they will do with my -£3.30 balance if I don't 'correct' it with some extra funding.
Maybe nothing until the end of the month afternoon of 1st May when the interest credit routine finally gets a head of steam up.
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Post by barberbookie on Apr 2, 2017 19:39:18 GMT
Email just in from Lendy with apology.
Looks like they have been following this thread.
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Post by ladywhitenap on Apr 2, 2017 19:42:48 GMT
An email apology just received from Lendy but nothing about the need to resolve any negative balances.
As an observation, it seems very poor accounting procedure to simple correct the numbers leaving no trace. Surely there should be negative correction entries for each loan to correct but leave a trail of the problem.
If Lendy are going for FCA approval, this sort of cover-up accounting ought to count against them.
LW
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