Esmeralda
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Post by Esmeralda on Mar 21, 2018 20:59:51 GMT
Is anybody's 1% spring bonus balance ever correct? Mine isn't.
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Esmeralda
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Post by Esmeralda on Mar 20, 2018 11:52:43 GMT
Quote 12 hours ago Esmeralda said:
chris it's happened again. Since yesterday, my current accrued interest figure hasn't changed (and so the 1% bonus figure hasn't changed either), my total investment/current total lent has gone down and that figure doesn't agree with my balance statement.
Same thing happened to me, this has now been resolved on my account but despite two emails sent four days ago asking for an explanation I have had no reply, I have a six figure sum invested with AC, I am happy with the site in every other respect but this lack of response to emails is a little worrying, I also have accounts with Proplend, and Bondmason I receive a response to emails within hours. Maybe the best way to obtain information is by checking into this forum more often. I've rung this morning and I'm told that it will be looked into and that I will receive an update "within the next 7 days". My accrued interest figure increased overnight last night/this morning by the amount I'd expect it to for one day but I'm still missing Sunday night/Monday morning's expected increase and my totals are still decreased and not agreeing with my balance statement. To add to the mix, my 1% bonus figure has decreased from yesterday.
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Esmeralda
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Post by Esmeralda on Mar 19, 2018 20:18:40 GMT
chris it's happened again. Since yesterday, my current accrued interest figure hasn't changed (and so the 1% bonus figure hasn't changed either), my total investment/current total lent has gone down and that figure doesn't agree with my balance statement.
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Esmeralda
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Post by Esmeralda on Mar 16, 2018 18:58:08 GMT
I had a bad feeling about it anyway, but the quote by the owner has put me right off. Thank you for sharing it clay.
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Esmeralda
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Post by Esmeralda on Mar 15, 2018 23:26:45 GMT
I don't want to invest in this but I'm currently using auto-lend. Would this come under a "bespoke" loan? So do I need to turn off auto-lend to avoid investing in this? I'd like to know the answer to that too, as I don't want to invest anything in it.
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Esmeralda
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Post by Esmeralda on Mar 14, 2018 11:02:53 GMT
I agree that their reply to me doesn't make sense, but that's what they said. I've heard back from them again, after telling them that I don't accept the new T&Cs for many reasons including, but not limited to, "loans shall not be monitored" and "voting is not binding", as well as telling them that my continuing to log in to view my account and withdraw funds as and when they may become available to me does not constitute my acceptance of the new T&Cs as there is no other way of accessing my account. and this is what they said:
"Thank you for getting in touch.
While Lendy is not required to monitor the borrower or its obligations under the loan or security contracts, our portfolio management team undertake regular monitoring to keep track of a borrower's progress.
By continuing to use our platform, or our services in allocating funds you have deposited, you agree to be bound by the terms of any updates and amendments implemented in accordance with this clause.
If for any reason you don't agree to our new terms and would rather close your account than opt out of specific new features, you can do so by selling your loan parts. If you are unable to sell loan parts due to them either being suspended from secondary market trading or in default, then you will have to wait until these funds become available to withdraw on account".
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Esmeralda
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Post by Esmeralda on Mar 13, 2018 15:27:45 GMT
I have replied to Lendy telling them that I don't accept the new T&Cs and I will let you know what reply or acknowledgement I receive, if any.
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Esmeralda
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Post by Esmeralda on Mar 13, 2018 15:10:25 GMT
On 6th March, I queried the impact the new T&Cs would have on loans with old T&Cs (in particular DFL0001) and this is the reply that I received today, after a wait of 7 days:
"Thank you for getting in touch. The terms and conditions which were active at the time a loan went live will apply to all parts in that loan, will throughout the duration of the loan, and will continue to apply in main upon revisions to Lendy's Platform terms and conditions".
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Esmeralda
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Post by Esmeralda on Mar 12, 2018 3:32:29 GMT
The PF paid out on the other 3 loans a few weeks ago.
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Esmeralda
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Post by Esmeralda on Mar 10, 2018 11:49:57 GMT
I wonder why they changed their minds about this one, having previously told us that it was ineligible ... not that I'm complaining about 5 months' payments!
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Esmeralda
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Post by Esmeralda on Feb 16, 2018 18:56:29 GMT
Having just scanned the updates, I can't see an official default notice, and as such don't see that this loan is any different to the other 3 turbines, as others have said. Also, assuming it was in fact defaulted, at what exact date? If it was after the start of the missing interest payments then had the provision fund algorithm been 'working properly' at the time then some of these missed payments would've been covered (up to the point of official default). The fact that many of us were expecting to receive missed interest payments on 437 suggests that AC have not made it sufficiently clear. They need to spell out what is or is not considered a default for the provision fund to pay the interest. I would have thought that if default interest is not being charged and enforcement of security has not commenced then it is not in default and the PF should pay the interest. Neither of these apply for this loan. Loans can be suspended for many reasons but it doesn't automatically mean that they are in default. Judging by the varied responses people are receiving from AC support it appears they can't work it out either So, I received an email today telling me that all four are in default but #437 went into default earlier than the other three and there were no missed interest payments at that date so there's no PF interest due. As (supposedly) tThe other three didn't go into default until a later date and they had missed interest payments when they went into default that's why the PF paid out on those. If all four are in default why does the header on each of their pages say "monitoring event" rather than "credit event"? I cannot see a sentence anywhere that says that any of them are in default and that's the question I asked AC - show me the sentence - but they didn't or maybe they can't.
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Esmeralda
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Post by Esmeralda on Feb 15, 2018 18:28:37 GMT
Re loan #437...as far as it being on your tax statement.... ”We have reserved our rights and we are working with the borrower and their wider team. At this stage, we do not propose to charge default interest or look to enforce the security held whilst we continue our work to seek to minimise lender risk. All options will remain open during this investigation period and beyond.” At this point the loan is in default but is not in the recovery stage, therefore doesn’t show in the “Loans in Recoveries” section of the tax statement.” The other 3 loans are also suspended, so they must be in default too, but PF interest was paid out on those, so why not #437?
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Esmeralda
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Post by Esmeralda on Feb 15, 2018 16:35:05 GMT
Am I missing something? Loan #437 hasn't paid out PF interest whereas the other 3 I** turbine loans have. I've rung twice to ask why/when it would be paid out and I was told today that it's because #437 is in default. I said that I wasn't aware of that and I was told that the email sent to investors in that loan telling us that it's now a defaulted loan was sent on 2nd Feb. I've looked at the email but I can't for the life of me see the sentence where it says it's in default - just that it, like the other three I** turbine loans, has been suspended. Can anybody point me in the right direction? I was under the impression that the loans were just suspended, not in default. Why is #437 defaulted and the other three aren't or are AC telling me porkies?
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Esmeralda
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Post by Esmeralda on Feb 13, 2018 17:01:07 GMT
I've received 4 x interest payments for each of the IL* windmill loans in the GEIA, well 3 out of the 4 that have gone bad. Nothing for #437, so I assume payments for this will be forthcoming when the hamster wakes up from his afternoon nap. At least it's a start. Is there a reason that the PF interest payments haven't been paid out for #437 does anybody know? I've rung AC to ask them when they'll be made and they told me it could take up to 48 hours to get back to me about it ...
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Esmeralda
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Post by Esmeralda on Jan 16, 2018 22:24:24 GMT
I emailed them weeks ago asking when their accounts would be filed. Deafening silence from Lendy.
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