New payback method?

[Guest]

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[Silvia]

Hello everybody,

Can anybody help me with a question? 

Recently there has been a change in the repayment terms (right hand side) of a person asking for a loan. Behind repayment terms there now stands details. When you click on details, you automatically see the repayment days (all of which are the 15th of each month). The strange thing is it all starts in January, even when loans are already disbursted. Also the disburstal date in some case is mentioned, whereas this is a date in the future.

Does anybody know more about this? I think it is strange that such a change is not communicated by Kiva (perhaps it is and I haven't noticed  , then I am sorry!).

Can anybody please inform/tell me more about this change?

Thank you!! 

[Sengbe Pieh]

Hi Silvia,

                                                                                                                                         

You are right, the new terms don't seem to make much sense.

And you are not alone in being slightly confused. To the best of my knowledge there has not been any communication from Kiva regarding this change so far.

There has been some discussion on this very subject starting today in another thread. Here is the link to the first message that raises this issue: http://www.kivafriends.org/index.php/topic,321.msg45504.html#msg45504

So until Kiva addresses this change, we are all left in the dark.

                                                                                               

Geoff

[Silvia]

Well Geoff,

Thank you for replying!  I will go to the other messages then! 

Hope that Kiva gives some clarity soon!

[Silvia]

I think my questions is not solved by these messages... because it only revers to amounts that are not refundend. I am talking about the details and the repayments.... it actually states that when somebody is loaning ie 4 months, that you have to wait (at this moment) to January for the first payment. Why is this? Still wondering..... 

If anybody has an answer... I will be waiting... 

[Diane R]

Roma posted yesterday that some inaccuracies were introduced with the software change they made 2 days ago, she indicated it might be fixed sometime this morning California time.  It's possible that some of these inconsistencies are related to the other problems, so I'd just be patient and see what we hear.

--Diane.

[Silvia]

Ok.... I will be patient.... at least try to be.... 

[Buchanan Family]

My delinquency rate just went down to 0.74% so this seems to have been fixed.  However, the Avg. Kiva User category on the right still shows 43.28% so I think that the personal calculations but not overall calculations have been fixed.

Becky

[AccountAbility]

I was about to post the same observation.  Perhaps they are going through individual loans or portfolios so the overall average may take longer to show the change.  My delinquency is now down to 0.52%.

In the meantime, perhaps patience should be measured in days, not in minutes. 

Dan

[Robert]

Kiva has some end-of-day and back-up processing during the night. Maybe a few total amounts and averages are only computed once a day.

[Jan & John]

ok - so patience is not one of my virtues...

but do you think the Kiva staff is working overtime here and perhaps we could send them some Pizza or something? 
jan