geoff
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Post by geoff on Mar 24, 2018 14:14:17 GMT
I also raised a ticket for this a few days ago. It would seem that the error has occurred because the figure for the interest paid on the remaining loan parts includes the interest for the recently repaid loan parts.
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geoff
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Post by geoff on Jul 10, 2017 11:13:40 GMT
None of my negative day loans have a bonus (all under 30 days) but I see that others at eg 33 days have a bonus. It looks to me that the bonus rate is linked to term, and starts at SBL As @leopardcat has observed, the bonus rate would appear to start at SBL+30
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geoff
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Post by geoff on Mar 1, 2017 12:32:07 GMT
As sexy Steve said, it is likely SS dipped into their own pockets for the interest Personally, I feel there shouldn't be a PF. Masks the risks involved, and now the shortfall has been covered in full it only makes the situation worse. IMHO, everyone should invest with the PF firmly at the back of their mind. I tend to agree with you. I still don't think those who invested in this loan when it was clearly defaulted should have had their losses made up by SS. If there is to be a PF then it should not be there to bail out fools, including the chap who took £4070 just a few days back. You're really quite emotional, aren't you?! A better plan surely would be to suspend trading in a loan once it has been declared formally as defaulted. Just my opinion.
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geoff
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Post by geoff on Mar 1, 2017 9:42:54 GMT
savingstream It would be handy to have the new Interest Status column on the "My Loans" page as well.
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geoff
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Post by geoff on Feb 28, 2017 14:16:09 GMT
Have you considered that many, if not most investors in this loan would sell if they could. Unfortunately for obvious reasons this has not been possible for some considerable time. To describe holders of this loan as fools is an unworthy sweeping generalisation. Well, jeepers thinks they are fools, I'll say nothing. I will say that those paying the slightest attention had ample opportunity to off-load this, and all the way back in may 2016, there are posters on this thread expressing astonishment that people were still buying it. What they would make of the £4070 purchase three days back, I have no idea. SS is clearly not for everybody. Really? Last May, there was already £70K+ on the SM. Very few were buying, so even then it was proving very difficult to sell except for the few at the front of the queue. The situation has not materially changed since then.
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geoff
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Post by geoff on Feb 28, 2017 13:30:01 GMT
Are you serious! Whatever the reasons, there have been a few who have invested since default, including one or two significant sums, but 1100 investors out there are holding £1.7 million of loan parts, including me. Are we all fools? The stench of smug arrogance emanating from this forum sometimes can be quite insufferable. Well Geoff, I'm sorry you feel that way. However, it's quite clear to me that some people are buying loans who are apparently unaware of the risks they are taking, as could be witnessed by the complete absence of even the most toxic being left on the SM recently. I'm not sure why you would be so confident in buying or holding PBL 20 other than you must have confidence that SS will be keen to uphold their record of no investor having ever lost a penny, but I can assure you that this is not a record that SS will or can maintain. Have you considered that many, if not most investors in this loan would sell if they could. Unfortunately for obvious reasons this has not been possible for some considerable time. To describe holders of this loan as fools is an unworthy sweeping generalisation.
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geoff
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Post by geoff on Feb 28, 2017 13:03:43 GMT
Are you suggesting that those still holding an investment in this loan are fools? Can't speak for jeepers, but how would you describe the person who recently bough £4070 of this loan, apparently because there was nothing at all left on the main SM? Perhaps they know something we don't? Or perhaps some people need supervised internet access? Are you serious! Whatever the reasons, there have been a few who have invested since default, including one or two significant sums, but 1100 investors out there are holding £1.7 million of loan parts, including me. Are we all fools? The stench of smug arrogance emanating from this forum sometimes can be quite insufferable.
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geoff
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Post by geoff on Feb 28, 2017 11:55:09 GMT
Another key April First deadline. [br Thankfully, I won't be a fool waiting for this to repay 😁 Are you suggesting that those still holding an investment in this loan are fools?
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geoff
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Post by geoff on Nov 3, 2016 8:20:52 GMT
> When you enter a new month, you will lose any interest from any loan part you have up for sale, regardless of if it sells or is canceled Except in the case of loans in default it would seem. As an experiment I put some of PBL 20 up for sale in early October. As expected, it failed to attract a buyer, and I cancelled the sale yesterday, 2nd November. All interest previously accrued for that loan part was shown as restored. I imagine this is probably something to do with defaulted loans not featuring in the normal monthly distribution of interest. I've asked SS for clarification that this is intended.
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geoff
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Post by geoff on Sept 5, 2016 9:35:37 GMT
I've noted that the FCA Number at the footer of the SS website changed this morning. Their registered number was indicated as 622666 but has now been changed to 654326. I don't think Lendy LTD have suddenly gotten full registration because they have always been registered under these to FCA Numbers. I wonder why they have changed from one to the other? Also, in the same footer, some additional text has been added... I think that the page that it leads to (click on "Risk Assessment") is new. That page has been on their website for at least a year. Archived risk assessment page
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geoff
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Post by geoff on Jun 7, 2016 8:37:54 GMT
It is a discussion that has come up in the past, but the concern is taken with a pinch of salt... Savingstream does now require we log in, so the valuation reports aren't in the public domain. I do also note that some of the recent valuation reports are made out to Lendy Ltd & Saving Security Holdings Ltd; the later is us investors. Not so. Valuation document 1 (val_81.pdf) of A******** G******* C******** is indexed in Google (Page 3 for the search term as asterisked). There may be others but I haven't looked.
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geoff
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Post by geoff on Apr 19, 2016 16:57:28 GMT
simply click on insert image and then upload.That's it!! No, because that takes up hosting space on the forum. That's exactly what should NOT be done. Well, that is almost what should be done, just a bad choice of terminology. fallon omitted to say that after clicking on "insert image", the URL where the image is hosted should be entered, then click "insert image". This will hot-link the image into the post. What should be avoided is the "Add Attachment" button which will upload a file to the forum server. The opening post by registerme explained this very well, I thought.
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geoff
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Post by geoff on Apr 5, 2016 7:29:32 GMT
"16. Back-up servicer arrangements If our platform were to fail or we and/or Saving Stream Security Holding become insolvent we would transfer our obligations under the Terms and the Loan Contract to a third party back up servicer, with whom we have entered into a back up servicing arrangement." Any more info on this? Platform risk is a real worry to many members; Has this third party been funded for say 12 months to unwind the loan book or would this need to be paid for from proceedes of loan repayments? savingstream have previously stated
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geoff
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Post by geoff on Mar 17, 2016 13:40:52 GMT
What's a few million between friends?! Is this an unfortunate typo, or am I missing something?
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geoff
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Post by geoff on Mar 12, 2016 18:34:20 GMT
... but loan start is calculated from date launched. Is this what SS are doing nowadays? IIRC, there was a time when a 1-year loan would say 365 days remaining when it went live, and would stay at that level until the loan actually drew down. Only after drawdown would the days remaining start going down. Perhaps SS don't bother doing that any more, especially as nobody seems to be too bothered when the remaining days count goes negative. You are correct mikes1531 . On the old website, the loan term count down didn't start until a loan had drawndown. This would seem to be the logical approach. Clearly, judging by the questions from new investors, it is also misleading to show negative days remaining unless a loan is not being serviced. If a borrower continues to pay interest beyond the original loan term then surely that loan has effectively been extended, whether SS states this or not. As all loans are presently continuing to pay interest, it follows that there should be no loans showing in negative territory. Logically, IMHO, negative days remaining should only be used to indicate a loan in default. If this reasoning is sound, perhaps savingstream would consider a change to the current display.
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