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Post by dodgeydave on May 17, 2017 12:01:05 GMT
According to the terms and conditions on the sitemap the first repayment must be within 30 days.
16. Interest and repayments
16.1. Interest on the Loan will be deemed to accrue from the second business day following the end of the loan auction, and the first repayment to Lenders must be made within 30 days of the completion of the online loan acceptance.
We have a loan that completed on the 13th of April 2017 . The payment is late , should be received today.
What do Rebs do. Change the repayment date to the 17th of May , and the 17th thereafter.
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Post by benrebs on May 17, 2017 16:27:12 GMT
Dear dodgeydaveThe first repayment has been received and distributed. The reasoning behind the delayed repayment: We allow a 2-day cushion for funds to clear when received by direct debit, this in conjunction with the extra 2 days it took to be received due to the repayment landing on a weekend has meant that the repayment did not clear until today (17 May). Due to these circumstances, no late fee has been charged. The repayment date moving forward has been set as the 15th due to the 2-day cushion for funds to clear and as always, these funds will be distributed the same day. Kind Regards Ben The ReBS Team
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Post by dodgeydave on May 18, 2017 1:57:58 GMT
Thank you for your reply.
10 years ago i could of told you the 13th of May would fall on a Saturday. In reality the first payment should of been collected on the 12th.
You already allow a 2 day cushion for the weekend which i do understand.
It still does not explain the decision to alter the payment date to the 17th for all future payments
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Post by benrebs on May 18, 2017 11:07:00 GMT
dodgeydave, We changed the payment date to 17 May just for this payment to ensure no penalty was charged, all future payments will be made on the 15th. Many Thanks Ben The ReBS Team
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Post by dodgeydave on May 19, 2017 0:38:54 GMT
I can now see that all the dates are correct
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