Author Topic: when first payment is due  (Read 12843 times)

Fred93

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Re: when first payment is due
« Reply #15 on: March 12, 2014, 10:25:10 PM »
Got a call from the LC rep who clarified.  Said my questions had been escalated.  The change to allow them to do daily accrual is scheduled for 2nd quarter.  I asked whether that would mean that I would then be compensated for the up to 2 week delay.  Answer was no, that was the eventual goal, but would result from a later project.

I'm just the messenger, so please only throw small rocks.

rawraw

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Re: when first payment is due
« Reply #16 on: March 13, 2014, 07:12:33 AM »
Got a call from the LC rep who clarified.  Said my questions had been escalated.  The change to allow them to do daily accrual is scheduled for 2nd quarter.  I asked whether that would mean that I would then be compensated for the up to 2 week delay.  Answer was no, that was the eventual goal, but would result from a later project.

I'm just the messenger, so please only throw small rocks.
I'm so happy to see this.  All too often people on the forum complain but don't contact LC.  Glad to see their responses

Keltset

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Re: when first payment is due
« Reply #17 on: March 13, 2014, 10:25:56 AM »
I would be curious to see what was said if you called them back and forwarded then a copy of that image a page ago and request reimbursement for the time loss value as they have misrepresented themselves on the site. They have done so by A) screwing up the notation on the folio page and B) Misrepresenting interest accrual on the note pages themselves on the primary site. You can't say that interest is accrued monthly but apply it daily to the account balance. That just doesn't make sense. By definition accrued interest is the interest earned but not yet paid and the accrual rate is the frequency that accrued interest is done. My opinion would be that the site misleads people to believe that interest is actually accrued daily by misrepresenting every note on the listing... But that's just MHO.

yojoakak

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Re: when first payment is due
« Reply #18 on: March 13, 2014, 10:47:50 AM »
I would be curious to see what was said if you called them back and forwarded then a copy of that image a page ago and request reimbursement for the time loss value as they have misrepresented themselves on the site. They have done so by A) screwing up the notation on the folio page and B) Misrepresenting interest accrual on the note pages themselves on the primary site. You can't say that interest is accrued monthly but apply it daily to the account balance. That just doesn't make sense. By definition accrued interest is the interest earned but not yet paid and the accrual rate is the frequency that accrued interest is done. My opinion would be that the site misleads people to believe that interest is actually accrued daily by misrepresenting every note on the listing... But that's just MHO.

You're forgetting that we don't own "loans", we own "member payment dependent notes".

It's fiction.  12 decimal places of fiction.

It's like calling up Steven Spielberg to complain about the plot holes in Cowboys & Aliens.

See also: http://www.lendacademy.com/forum/index.php?topic=595.0
« Last Edit: March 13, 2014, 10:53:08 AM by yojoakak »

Fred93

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Re: when first payment is due
« Reply #19 on: March 13, 2014, 01:11:39 PM »
I would be curious to see what was said if you called them back and forwarded then a copy of that image a page ago and request reimbursement for the time loss value as they have misrepresented themselves on the site.

You have a phone, eh?

Keltset

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Re: when first payment is due
« Reply #20 on: March 13, 2014, 01:43:21 PM »
I would be curious to see what was said if you called them back and forwarded then a copy of that image a page ago and request reimbursement for the time loss value as they have misrepresented themselves on the site.

You have a phone, eh?

Whats a phone? I don't use them for talking... But I suppose I could be bothered to write an email to resolve my own curiosity... Ha!

rawraw

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Re: when first payment is due
« Reply #21 on: March 13, 2014, 02:37:38 PM »
I would be curious to see what was said if you called them back and forwarded then a copy of that image a page ago and request reimbursement for the time loss value as they have misrepresented themselves on the site.

You have a phone, eh?
See what I mean ha ha

core

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Re: when first payment is due
« Reply #22 on: March 13, 2014, 02:45:08 PM »
You have a phone, eh?
See what I mean ha ha

All I see is that we have yet another comedian in the ranks, possibly from Canada eh?

rawraw

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Re: when first payment is due
« Reply #23 on: March 13, 2014, 08:40:56 PM »
Core, I'm sorry you don't have a personal account rep.  I know this hurts you -- I'll share mine.  Her name is Stephanie