Quote Originally Posted by whitt View Post
Harmoney today have emailed saying they will on sell the charged off loans to a third party.

I cant see this as good as the incentive is gone for Harmoney to chase loans in arrears. Previously it was in Harmoneys best interest to keep arreared loans under control so the charged off department had less work.
Now nothing stops them giving up, throwing it into charged off then onselling that loan.
Questions are - is this a breach of contract between Harmony and all current investors? Do enough investors care to make an issue of it? Would making an issue of it return money to us? Should we just roll over and allow such changes to the terms on which we invested in loans? My view - I never expected any return on defaulted loans, haven't received any and don't want the stress levels with objecting to Harmoney failings (as yet).