min
Member of DD Central
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Post by min on Jun 26, 2017 15:31:14 GMT
Can someone DM me an exact break down of the problem so I can take a look and revert back to everyone. There is a known issue of loans repaying late on a Friday which we can;t process repayments until the next working day. I need to know if this is tied to that Once I have a detailed problem spec I can ask the right questions. As stated above it is a problem affecting all in loan 26 (I think- I sent 2nd email to AC requesting confirmation and was told that I had withdrawn money from my MLIA a week after I made the original query. Not helpful. I just want confirmation that my 'loss' is caused by the known issue with 26). It it does beg the question as to why it is taking sooooo long to sort out the problem. Also andrewholgate once the missing funds are re-imbursed will we receive interest 'as if the funds had been in QAA'?
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tonyr
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Post by tonyr on Jun 27, 2017 1:59:57 GMT
Can someone DM me an exact break down of the problem so I can take a look and revert back to everyone. There is a known issue of loans repaying late on a Friday which we can;t process repayments until the next working day. I need to know if this is tied to that Once I have a detailed problem spec I can ask the right questions. My bug report (and the suspicion it related to loan #199) has been with enquiries@assetzcapital.com for over three working days and not even a "yes, we can see there is a problem, we are working on it" email yet.
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mikeb
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Post by mikeb on Jun 30, 2017 17:16:19 GMT
I'm sure someone will be along any dayweek now to provide a back-stop date, by which time another back-stop will be needed to catch the ball dropped by the previous backstop. andrewholgate as to details of the problem, it was mentioned in p2pindependentforum.com/post/195201/thread -- the sums don't add up. Someone has wiped out a huge chunk of the loan by trying to apply a repayment, and there's some kind of massive IT problem preventing it being fixed. In addition, accrued interest ALREADY ACCRUED has been removed from the loan. 15+ days on ... still not fixed. Account totals still wrong, although we are assured it just "may" look wrong. |
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tonyr
Member of DD Central
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Post by tonyr on Jul 1, 2017 3:24:25 GMT
Can someone DM me an exact break down of the problem so I can take a look and revert back to everyone. There is a known issue of loans repaying late on a Friday which we can;t process repayments until the next working day. I need to know if this is tied to that Once I have a detailed problem spec I can ask the right questions. My bug report (and the suspicion it related to loan #199) has been with enquiries@assetzcapital.com for over three working days and not even a "yes, we can see there is a problem, we are working on it" email yet. I've now had email from Dominic Riddles. What seems plausible is that about 10% of holdings was due in interest (8 months at 14% is 9.3%, so about right). 4.5% was paid out when the loan was moved to "repaid" and 5.5% is still owing. So we've had just under half of the interest with just over half to come which isn't showing up anywhere hence the "disappearing funds". Much of this is my deductions, investigations are still ongoing at Assetz Towers.
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jayjay
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Post by jayjay on Jul 4, 2017 17:51:27 GMT
Latest note posted this evening on schedule but STILL NO PROGRESS. We have had so many 'back stops' announced and restated that this has ended up in the long grass. What is it that is so difficult and why is it clearly so low priority??
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min
Member of DD Central
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Post by min on Nov 3, 2017 7:23:36 GMT
I appear to be missing just under £40 from my MLIA. Is it just me?
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surby
Minor shareholder in Assetz Capital
Posts: 32
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Post by surby on Nov 3, 2017 7:40:56 GMT
I appear to be missing just under £40 from my MLIA. Is it just me? Me too. I think there has been another admin error associated with a repayment of capital, this time on loan 476 where my MLIA has gone negative.
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jayjay
Member of DD Central
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Post by jayjay on Nov 3, 2017 7:56:25 GMT
I appear to be missing just under £40 from my MLIA. Is it just me? Me too it appears to be an error on 476 Edit: The money is now back problem sorted 0850am
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Post by waryinvestor on Nov 3, 2017 10:35:06 GMT
I have painstakingly calculated all the Balances after downloading the Account Statements (from under the Reports Section) and most of them don't match.
The most worrying part is about QAA where the Balance of 'Direct Investments' doesn't tally with the Balance from the Downloaded Account Statements (I have ignored all swept amounts as they neither belong to the QAA, nor are shown in the QAA transactions, so no more confusion here). It is consistently showing £70 less (over a week now).
And all other Accounts have smaller differences, but even after accounting for rounding off errors, why would all show lesser amounts rather than some showing less and some showing more ? The Interest Calculations also don't tally. They have now acknowledged that some user accounts have been affected by the fact that not everything is consistently withdrawn to Cash Account (some swept to QAA) irrespective of the 'Reinvestment Settings' of 'Withdraw Repayments and Interests'.
This really makes me nervous and I'm fast losing all my Confidence in this Platform.
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Post by oldnick on Nov 3, 2017 12:00:43 GMT
I have painstakingly calculated all the Balances after downloading the Account Statements (from under the Report s Section) and most of them don't match.
The most worrying part is about QAA where the Balance of 'Direct Investments' doesn't tally with the Balance from the Downloaded Account Statements (I have ignored all swept amounts as they neither belong to the QAA, nor are shown in the QAA transactions, so no more confusion here). It is consistently showing £70 less (over a week now).
And all other Accounts have smaller differences, but even after accounting for rounding off errors, why would all show lesser amounts rather than some showing less and some showing more ? The Interest Calculations also don't tally. They have now acknowledged that some user accounts have been affected by the fact that not everything is consistently withdrawn to Cash Account (some swept to QAA) irrespective of the 'Reinvestment Settings' of 'Withdraw Repayments and Interests'.
This really makes me nervous and I'm fast losing all my Confidence in this Platform.
Mod hat off. No doubt Customer Services will be interested to see your evidence.
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min
Member of DD Central
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Post by min on Nov 3, 2017 12:07:44 GMT
My missing funds are back but some of the above is worrying.
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Post by waryinvestor on Nov 3, 2017 12:13:46 GMT
Already in contact with Cust Serv.
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Mick
Be nice... People respond.
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Post by Mick on Nov 3, 2017 22:44:38 GMT
This is not the first-time money has gone missing. A few weeks ago, many accounts had money missing including mine. No one has said the problem is solved. If Assetz are asking us what is happening I'm very worried they don't know it’s happening...
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mikes1531
Member of DD Central
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Post by mikes1531 on Nov 5, 2017 16:09:19 GMT
There is a known issue of loans repaying late on a Friday which we can;t process repayments until the next working day. : Does this issue known in June still exist? Has it gotten worse? If not, what is the issue that has caused #416, which was repaid on Tuesday, to still not have its repayments processed at the end of the week? I expect most investors wouldn't care about delays to repayments if their investments continued to earn interest up until the time they received their repayments. Unfortunately, the AC system doesn't work that way, and interest stops accruing as soon as AC are notified that repayment has occurred. Having money tied up involuntarily while earning no interest has a tendency to really irritate investors, and AC would be well advised to avoid that any way they can. I'd suggest using some of the AC marketing budget to reimburse investors for their lost interest. We're probably not talking about vast sums of money -- in the case of #416, it's £47/day, or £282 in total if the repayments finally are processed tomorrow (Monday). IMHO it would be money well spent in terms of the positive customer relations it would produce.
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jonah
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Post by jonah on Nov 6, 2017 6:18:23 GMT
Following mikes1531 excellent post, another suggestion would be to look to have something in place to prevent reoccurrence. For example an automated report providing the relevant manager a list of a loans which are still open but have been at 0% for more than 1 business day. Most of the time there wouldn’t be a report, but it could hopefully catch issues like this. |
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