When the hardship repayment holidays end, that could be when we see a big dip in RAR as capital charge-offs climb. So that could be in a few months time if 6 month Covid repayment holidays were granted.
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If you are over 65 think about your kiwisaver potential.
All All % Live Live % Paid Off 6280 78.1% Protect Waiver 7 0.1% 7 0.5% Arrears 54 0.7% 54 4.0% Cancelled 53 0.7% Charged Off 183 2.3% Current 1169 14.5% 1169 87.4% Debt Sold 190 2.4% Hardship 108 1.3% 108 8.1% 8044 100.0% 1338 100.0%
Harmoney's lending model appeal largely dismissed by Court of Appeal - not sure what the implications of this will be - I'm guessing nothing for lenders, perhaps something for early borrowers?
Just had a look at the new chargeoffs that was taken against my account this month.
I had 27 made against my account in July. For the first time the charge off dates were not all July 2020. Instead 10 out of the 27 states that the charge off dates are much earlier with three in 2018 (August, Oct and Dec 2018)!
Wow, looks like Harmoney clearing its books!!
I think they did something similar last year?
At least you can claim deduction for the capital write-offs.
No need for them to “massage” the return for small investors in order to attract more cash as they have given up on retail P2P. They are an investment vehicle for big corporates now.
With the COVID recession, surely with write-offs there will be a chance (likelihood?) of returns being negative for the next year or more?
So if you can or cannot deduct write-offs will have a material effect.
Am receiving a Higher amount of Loans being Repaid in full over the last 2 weeks..... Any body else too?
Maybe doing ReFi at lower rates or 'mortgage holiday' funds otherwise paying off Higher Interest bearing loans??
I've not seen this. My weekly auto withdrawals have been in the $700-$1600 range for quite some time, no obvious trend for me. Last four weeks went like: $1000, $700, $1400, $800.
From AFR:
Non-bank lender Harmoney is set to be pitched to private equity and public equity investors as the largest digital disrupter to the banks as part of a dual-track funding round.
It is understood Harmoney has hired stockbrokers Jarden and Ord Minnett to advise on funding options, which include a private debt or equity raising, or initial public offering and sharemarket float.