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Post by chris on Jul 25, 2017 13:23:31 GMT
personally I see the Q&A as the correct channel for that essential communication but I accept others may disagree. Rightly or wrongly the platform does not agree with you and will continue to reject questions of that nature, because that is not the intended purpose of the Q&A. It's also obfuscating any underlying problems from the proper communication channels so it won't lead to the platform improving unless these issues are noticed elsewhere. I won't be replying further on this subject.
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Post by chielamangus on Jul 25, 2017 17:27:50 GMT
I intend to continue using Q&A to ask why payments have not been made, as I have little confidence that Assetz are on top of late payments, and I feel that Assetz need the nudge.
Have a look at the recent Q&A for loan 487. (That's my partner's account so account name of questioner is different.) Interest retained. First payment due on 7th. I patiently wait 7 days and more before asking the question. Payment eventually received on 18th after an apparent "Omg we've missed it". And it is acknowledged in the Q&A that Assetz would not have noticed until the 19th, getting on for two weeks after it was due.
Using Q&A for this function, as well as getting a result, has the additional benefits of alerting other lenders that someone is on the case (so no need for dozens of lenders to email the same question to support, and support have to reply to dozens of emails), and it alerts new lenders to issues to look out for. This aspect is particularly important. I have been alerted to things not previously noticed, and, on things I have noticed, it also tells me when I don't have to contact AC because somebody else has already. I would have thought AC would have welcomed a streamlining and reduction in the number of emails they get on the same subject. But the debate is over, apparently, and AC have toddled off in a huff taking their toys with them.
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Post by GSV3MIaC on Jul 26, 2017 10:15:05 GMT
Perhaps AC could add a 'general loan comments' section, in parallel to the Q&A, in which they can put 'updates of general interest' (even if the Qs arrive by emails from one lender). The forum(s) is another option, but only for the small percentage of AC lenders who actually read them. It's got to be more efficient that replying to the same FAQ dozens of time by separate emails, even if the answers are just copy-and-pasted? MTs new 'updates' section is the sort of thing I am thinking of, but with some 'steering' of what gets updated based on what people ask(ed).
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dave2
Member of DD Central
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Likes: 163
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Post by dave2 on Jul 28, 2017 3:42:27 GMT
I get irritated by repeated " overdue interest payment" questions, on the same loan, often by the same people, again and again. If loan interest is repeatedly overdue they should either trust the judgement of Assetz Capital staff, or sell the loan and buy another. When the "Last Updated" date on one of my loans changes I expect to find something of note, not the same old moaning minnies whining relentlessely.  |
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ton27
Member of DD Central
Posts: 431
Likes: 267
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Post by ton27 on Jul 29, 2017 5:01:18 GMT
I think that some questions are irrelevant and therefore slightly irritating but what I find most annoying is when AC do not address the relevant questions. Surely if a borrower is persistently late, it does impact on the quality of the loan and does need to be sorted.
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Post by lynnanthony on Jul 29, 2017 7:42:15 GMT
If AC aren't going to ever answer any questions about the loan post drawdown then perhaps the simplest way to make this clear is by locking the Q&A section once the loan is live. Perhaps lenders would feel less abused if they couldn't ask questions at all rather then have questions thrown back in their face. AC do answer some questions.
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Post by chielamangus on Jul 29, 2017 13:05:04 GMT
I get irritated by repeated " overdue interest payment" questions, on the same loan, often by the same people, again and again. If loan interest is repeatedly overdue they should either trust the judgement of Assetz Capital staff, or sell the loan and buy another. When the "Last Updated" date on one of my loans changes I expect to find something of note, not the same old moaning minnies whining relentlessely. It is not black or white as dave2 intimates. Yes, there are unnecessary questions, but if an interest payment is vastly overdue (well beyond the 7 days margin AC allows) or if there are repeated late payments (again, beyond the 7 days) then most lenders would want to know why. It is lenders' money at risk and to make a considered judgement on whether to retain or sell the loan, they need to know the reasons why. In the MLIA we do not loan our money to AC and leave it to their judgement as to where to put it. And why would we buy another if the same information is missing on the next loan?
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