twoheads
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Programming
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Post by twoheads on Jul 28, 2017 12:06:10 GMT
savingstream , Lendy Support , Paul64 - given this does not appear to be an isolated error I trust you are investigating the cause and looking to remedy the issue(s) as a proirity, hopefully before the next interest payment run. Preferably today savingstream, Lendy Support, Paul64 as I have the feeling the office may be a little short staffed due to boat fest from tomorrow.
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warn
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Curmudgeon
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Post by warn on Jul 29, 2017 5:52:34 GMT
And if you do come up with a fix, PLEASE test it before implementation.
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nick
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Post by nick on Aug 9, 2017 13:43:30 GMT
Update:
The errors in the totals on the various 'My Loans' pages have been corrected in the last few hours.
There are still errors in the calculated interest on 34 of my sold loan parts. did you ever get a satisfactory response to why the wrong interest is being shown for your 34 loan parts? I sent a support email to SS last Monday querying several hundred similar errors (no interest for some loans held for a day and specific issues in some sold loans in PBL152) and just received a fairly generic email asking me to review the FAQ on expected loan interest and highlighting that interest is not earnt on loans listed for sale - ie they did not bother addressing the specific queries I raised. Hopefully they give more consideration to my queries two time around and actually investigate the issue as it appears to be far from isolated. Whilst it is reassuring that the monthly interest payments and account statement appear to be correct, it is concerning that errors persist with the detailed record of interest earnt on each loan part - it makes it very difficult to fully reconcile my account. savingstream , Lendy Support will you be addressing the inaccuracies in interest earnt currently reported for individual loan parts under 'my loans'?
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twoheads
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Post by twoheads on Aug 9, 2017 15:06:25 GMT
Update:
The errors in the totals on the various 'My Loans' pages have been corrected in the last few hours.
There are still errors in the calculated interest on 34 of my sold loan parts. did you ever get a satisfactory response to why the wrong interest is being shown for your 34 loan parts? I sent a support email to SS last Monday querying several hundred similar errors (no interest for some loans held for a day and specific issues in some sold loans in PBL152) and just received a fairly generic email asking me to review the FAQ on expected loan interest and highlighting that interest is not earnt on loans listed for sale - ie they did not bother addressing the specific queries I raised. Hopefully they give more consideration to my queries two time around and actually investigate the issue as it appears to be far from isolated. Whilst it is reassuring that the monthly interest payments and account statement appear to be correct, it is concerning that errors persist with the detailed record of interest earnt on each loan part - it makes it very difficult to fully reconcile my account. savingstream , Lendy Support will you be addressing the inaccuracies in interest earnt currently reported for individual loan parts under 'my loans'? No response yet.
On Monday I sent the same support request again (in case they mislaid the first).
I now have further loan parts with errors. Two or three live loan parts which I bought yesterday are incorrectly showing zero interest. Also a couple of other loan parts have completed their sale and are showing interest which incorrectly has the selling period deducted (the 'end date' is the date put up for sale (i.e. the date to which I should receive interest), but the selling period has also been deducted).
I really think their IT guy is in a bit of a mess with this.
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wysiati
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Post by wysiati on Aug 9, 2017 18:25:33 GMT
I now have further loan parts with errors. Two or three live loan parts which I bought yesterday are incorrectly showing zero interest. Also a couple of other loan parts have completed their sale and are showing interest which incorrectly has the selling period deducted (the 'end date' is the date put up for sale (i.e. the date to which I should receive interest), but the selling period has also been deducted).
Could the former not simply be the latest reflection of platform policies / desire to achieve transfer of value where possible from lenders to the platform itself. e.g. loan parts only earning interest from then of the first full day of ownership? There was some previous speculation on this point, IIRC.
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nick
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Post by nick on Aug 9, 2017 19:44:48 GMT
I now have further loan parts with errors. Two or three live loan parts which I bought yesterday are incorrectly showing zero interest. Also a couple of other loan parts have completed their sale and are showing interest which incorrectly has the selling period deducted (the 'end date' is the date put up for sale (i.e. the date to which I should receive interest), but the selling period has also been deducted).
Could the former not simply be the latest reflection of platform policies / desire to achieve transfer of value where possible from lenders to the platform itself. e.g. loan parts only earning interest from then of the first full day of ownership? There was some previous speculation on this point, IIRC. I don't think this is the case as the issue does not seem to consistent across all loan parts and appears really to be a reporting/data pulling issue as the actual interest historically paid hasn't changed just the reported interest. For some reason the interest figures being pulled off the database for certain loan parts is wrong and doesn't match what has or is actually being paid. At month-end, if you total all interest paid to date it should equal the sum of interest for all loan parts (live, sold, selling), assuming you have only invested in IOA loans. A few weeks ago this started going awry. On further inspection, the differences can be tracked down to individual loan parts, some of which were sold months ago where the interest reported is lower than that actually received per the account statement.......
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blink
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Post by blink on Aug 9, 2017 23:18:42 GMT
I bought some DLF024 yesterday and previously I have never owned any of this loan. No interest has been credited after midnight. This sort of thing concerns me...I don't want to spend all my time checking for mistakes, Paul64 please can you look in to this and advise as to what is the problem. I feel concerned now that I am not receiving the correct interest on other loans. |
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twoheads
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Post by twoheads on Aug 10, 2017 7:37:29 GMT
I bought some DLF024 yesterday and previously I have never owned any of this loan. No interest has been credited after midnight. This sort of thing concerns me...I don't want to spend all my time checking for mistakes, Paul64 please can you look in to this and advise as to what is the problem. I feel concerned now that I am not receiving the correct interest on other loans. Will be interesting to hear if you get interest credited for a day's full ownership come midnight tonight. All of my one day old loans show zero interest in the 'My Loans' section and on the 'Export to Excel' download.
When they hit two days, they correctly show two days of interest.
To be specific: On Tuesday, I bought a few loan parts. On Wednesday, Tuesday's loan parts showed zero interest. Also on Wednesday I bought some more. Today (Thursday), Tuesday's loan parts now show two days interest while Wednesday's loan parts show none.
I also have several sold loan parts which I held for one day only. Some of these (but not all) incorrectly now show zero interest, whereas a few weeks back, they were correct.
There is a glitch in their system concerning one day old loan parts. Some IT guy has put in code which specifically singles out one day old loans.
I still have many sold loan parts which show interest where the 'for sale' period has been doubly deducted. I have a two week old support request to solve this... no response yet from Lendy.
Come on Lendy Support, savingstream, Paul64, it's about time these issues were fixed.
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n
Member of DD Central
Yet another Nick
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Post by n on Aug 10, 2017 8:43:08 GMT
Greater than rather than greater than or equal? Easily done using the fail fast approach to testing.
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Post by Paul64 on Aug 10, 2017 10:19:27 GMT
Hi, can you please contact support@lendy.co.uk with your user details so we can investigate it further for you. Paul Lendy Support |
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twoheads
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Post by twoheads on Aug 10, 2017 14:25:00 GMT
Further information on the zero interest for one day old loan parts:
Normally I check in the morning, first thing, so usually all of yesterday's purchases are all less than 24 hours old and none of these one day old loans show any interest. However, I've just discovered some new information after checking again just now.
It appears that the one day old loans do start showing their one day of interest but only after they are 24 hours old.
However, a similar restriction is not applied once the loans are two days old (i.e. 'end-date' minus 'start-date' is two days or more). A two day old loan correctly shows two days of interest, even if it is only (say) 31 hours old whereas a one day loan will not show any interest until it is 24 hours old. This is not consistent behaviour.
Note that for the purposes of the interest run, the number of days is simply the number of days difference between the start-date and end-date.
Example: A loan bought at 6pm on Monday will be a 'one day' loan at 1am on Tuesday but will show zero interest as it is only 7 hours old; it will only show a day's interest after 6pm on Tuesday when it reaches 24 hours. However, at 1am on Wednesday it will be a 'two day' loan and will then show two days of interest even though it is only 31 hours old.
Somewhere in the code, a check has been added to set the interest to zero if the loan part is less than 24 hours old, despite the fact that interest is paid simply on the difference between start-date and end-date (now also with a deduction of total 'for sale' time on cancelled sales).
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blink
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Post by blink on Aug 10, 2017 21:34:22 GMT
I bought some DLF024 yesterday and previously I have never owned any of this loan. No interest has been credited after midnight. This sort of thing concerns me...I don't want to spend all my time checking for mistakes, Paul64 please can you look in to this and advise as to what is the problem. I feel concerned now that I am not receiving the correct interest on other loans. Will be interesting to hear if you get interest credited for a day's full ownership come midnight tonight. I have had my interest credited, sometime between 3pm and 8pm today. It will be interesting as to what happens at midnight.
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twoheads
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Programming
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Post by twoheads on Aug 11, 2017 9:07:44 GMT
My Wednesday purchases are now two days old and show the correct two days of interest (even though they're all less than 48 hours old).
Yesterday's are now one day old now and are incorrectly showing no interest (later on today when they reach 24 hours, they will start showing one day of interest).
Exactly as stated previously: A loan which is less than 24 hours old never shows any interest even if it is one day old and will (normally) receive a day's interest at the end of the month.
EDIT: blink: Once your loans reach 24 hours old, they behave 'normally' and show the correct interest. Under 24 hours, this bug in Lendy's software makes them show zero interest.
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twoheads
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Post by twoheads on Aug 17, 2017 8:46:52 GMT
A third week has gone by since I put in a support request about the inaccuracies in the interest shown online and downloaded via 'Export to Excel'.
One week ago I was informed that the problems were being investigated. I have heard nothing since and the problems remain.
Still we have the problem that live loan parts bought yesterday and less than 24 hours old incorrectly show zero interest.
Still I have more than 30 historic sold loan parts which show incorrect interest. Sixteen of these loan parts are 23 days wrong due to the 'for sale' period being doubly deducted from the interest. Many more are one day parts sold before 24 hours which now incorrectly show zero interest. However, with one important exception, these errors don't concern me because I have received the correct interest each month up to 01/08/2017.
I have one loan part (ID 1298589) which sold this month and is showing double deduction of the 'for sale' period. I am waiting (with interest) to see if the monthly run credits me with the correct amount. This part took 1 day and 4 hours to sell, it was bought 19/04, put up for sale 07/08 and sold 08/08. I am due 110 days of interest (19/04 to 07/08) but the part only shows 109 days because the 'for sale' period is being wrongly deducted.
Paul64 , are these issues likely to be resolved any time soon?
EDIT: Lendy support have now replied via PM asking for more details so that they can escalate this issue... Watch this space...
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twoheads
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Programming
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Post by twoheads on Aug 24, 2017 13:27:00 GMT
Hi Paul64, Lendy Support,
Another week has passed since my 'support requests' were supposedly escalated. Once again, I can report that nothing has changed and I have had no contact from Lendy.
Still the one day loans show zero interest until they reach 24 hours and still many of my loan parts have had their 'for sale' duration doubly deducted from the interest shown online.
The total discrepancy in interest on my loan parts is £77.02 at this precise moment: my loans online show £77.02 less interest than they should. Almost all of this 'missing' interest has actually been paid in the monthly interest runs which have all been exactly correct for me so far (apart from the April Fool's muck up).
I do hope your calculations are correct for the September interest run. As you can well imagine, I will be checking as usual.
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