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Thread: Harmoney

  1. #4291
    Member
    Join Date
    Aug 2017
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    176

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    Quote Originally Posted by myles View Post
    I have never been able to calculate an arrears value equal to what Harmoney show in the dashboard summary

    Often there are individual loans flagged as being in arrears but have had recent payments and, conversely, individual loans that have not had a payment for well over a month that are not flagged as being in arrears.

    My individual loan arrears sum is currently $445.75, the summary dashboard value is $518.67.

    The details in the 'frontend' have always been wrong and as far as I can tell are still wrong.
    The backend is confusing!

    Date Status Time in arrears (days)
    LAI-00133312 05/07/2018 Current 1-30
    LAI-00133312 05/07/2018 Current 1-30
    LAI-00140705 08/10/2018 Current 1-30
    LAI-00144720 05/11/2018 Current 1-30
    LAI-00145319 06/11/2018 Current 1-30
    LAI-00145327 06/11/2018 Current 1-30
    LAI-00146060 09/11/2018 Current 1-30
    LAI-00151261 07/01/2019 Current 1-30
    LAI-00151261 07/01/2019 Current 1-30
    LAI-00151536 08/01/2019 Current 1-30
    LAI-00154121 05/02/2019 Current 1-30

    However despite whatever HM is mucking up in the front-end, the back-end data has been consistent over the past week.

    Loan availability was a little better over the last month. Hopefully that continues once they've sorted their general error's they've been experiencing have been fixed.

  2. #4292
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    Join Date
    May 2014
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    180

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    Quote Originally Posted by CageyB View Post
    Via the "Claim expenses related to your income -> Add non-business expense" function on myIR?
    yeah i just did it like that, IRD processed it pretty quick

    Its a real pain that harmoney pay your tax for you at the wrong stage, pre fees not after.
    Real hard to sell people the platform as an investment

    "yeah returns are pretty good but you have to make a tax adjustment each year with the IRD cause harmoney over pay your tax" - not the greatest sales pitch makes it a hassle for people not used to doing accounting sh1t

  3. #4293
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    Join Date
    Feb 2005
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    Auckland, , New Zealand.
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    2,564

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    Harmoney does the same way as anyone else does. The correct way. Your tax return is your responsibility not theirs.

  4. #4294
    Advanced Member
    Join Date
    Aug 2012
    Posts
    1,766

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    Quote Originally Posted by 777 View Post
    Harmoney does the same way as anyone else does. The correct way. Your tax return is your responsibility not theirs.
    Squirrel deducts their fees and transfers to their reserve fund (that covers write-offs) prior to paying their P2P investors. RWT is then deducted from the net amount paid to P2P lenders.

  5. #4295
    Senior Member
    Join Date
    Sep 2015
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    Norf Eyelynd
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    706

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    Quote Originally Posted by Bjauck View Post
    Squirrel deducts their fees and transfers to their reserve fund (that covers write-offs) prior to paying their P2P investors. RWT is then deducted from the net amount paid to P2P lenders.
    My understanding is not 100% as written above....

    I understand it is only the Borrowers Reserve Fund Levy that pays into the Reserve Fund.

    As per here >> https://www.squirrel.co.nz/invest/how-we-manage-risk

    Borrowers Do NOT pay anything into the Reserve Fund.....

    I stand to be corrected of course!

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