Quote Originally Posted by joker View Post
It's quite sad that effectively good honest people (the majority) are paying very high interest rates to cover the debt write-offs of bad people (the minority). The issue is exacerbated by the manner in which Harmoney loans money based on algorithms which are open to deception and abuse while being reluctant/uninterested in chasing bad debts. No security lien adds to the problem which is what sets Lending Crowd high above Harm-Money.
I think Harmoney originated from a good place but were up against a system which protected the status quo. The political will to support P2P and get better rates for borrowers and lenders never seemed strong unfortunately. Such a missed opportunity.