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Thread: Harmoney

  1. #4501
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    Quote Originally Posted by leesal View Post
    Anyone still investing between now and 31st March?
    I caught an available one this morning so yes, I'm still investing and will continue until the end of March. Squirrelmoney is almost dry but not as drought stricken like LendingCrowd.

  2. #4502
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    Quote Originally Posted by Saamee View Post
    Yes, I had a few ( too many ) as well on the 14th Feb.

    You have to hope that when Retail investing ends..... That they still care enough to actually try an Collect late payments and not just write loans off just to 'get rid of them' off their books!
    You can hope although given the history for retail investors in NZ, who knows?

    When p2p was introduced in NZ the FMA together with the IRD could have made a ruling that the taxable return for all investors from P2P was a blended return net of charge-offs and lender's fees. Instead it was up to each investor to seek an accountant's advice to determine what deductions were deductible. Straight off, p2p became less appealing for the retail investor...

  3. #4503
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    more writeoffs today! Hope it is just spring clean and not a sign of things to come!

  4. #4504
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    All I can say is that I am pleased that I have been in full withdrawal for at least a year now. 😐

  5. #4505
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    Quote Originally Posted by leesal View Post
    I guess there are the fair dealing provisions under the FMA. Plus all their charges for late fees & the incentive to minimise commissions lost. But don't imagine they'd lose too much sleep over the difficult collections, probably just flick them straight to the 3rd party collections.

    Anyone still investing between now and 31st March?
    I will try (might as well), but I do suspect that the tap will run dry well before then. I wouldn't be surprised if there are effectively no loans available by early March.
    Last edited by CageyB; 25-02-2020 at 11:50 AM.

  6. #4506
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    I will try (might as well), but I do suspect that the tap will run dry well before then. I wouldn't be surprised if there are effectively no loans available by early March.
    Mmm... 6 live loans right now on HM. Looks quite busy.

  7. #4507
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    Quote Originally Posted by Toukshare View Post
    Mmm... 6 live loans right now on HM. Looks quite busy.
    In the past it was quite busy after the weekend. And with irrational behaviour not a suprise to see more more loans.

    With global sharemarkets heading south, combined with the questionable quality of HM loans, maybe HM cutting loans to the retail segment could be a blessing in disguise.

  8. #4508
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    Default Stuff Happens

    With what's likely to be coming down the line I can't think of many worse case scenarios for P2P investors (excluding things like an all out World War or failure of the service provider). People are going to be hurting, jobs will be lost, small business will struggle or fail and the potential for older borrowers to become very sick or die is real.

    Perhaps the details on govt. support to be released tomorrow, and no doubt more later as things change, will help some people and some of those small businesses? Defaults will rise - don't blame the platform provider, don't blame the borrower - take a stuff happens mentality and consider those who are in a much worse situation.

    Not meant to be doom and gloom, just putting it out there for others to consider.

    I'm at about $60K withdrawn from original investment of $100K with $84K of principal still in, so I will likely come out well in front but am expecting to take a big hit on many loans.

    Stay safe people, and please do the right thing for yourself and others, I think it's a time to spend more time thinking and caring for others and perhaps a little less on personal gain.

    (and if you've got significant investments in shares - buckle up!!!)

    NZ may end up being the best/safest place to be

  9. #4509
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    Good advice myles. We're all in this together and while we as P2P investors will suffer losses, there are other members of society more unfortunate than us that risk being financially wiped out. Compassion for all please.

  10. #4510
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    Nice words Myles. Now is not the time to be looking at portfolio performance. Will be lots of hurt out there and real suffering. Its a time for looking out for your fellow neighbour.

  11. #4511
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    Banks strong enough to absorb surge in bad debts

    Article in Stiff this morning


    https://www.stuff.co.nz/business/120...e-in-bad-debts

  12. #4512
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    Quote Originally Posted by leesal View Post
    Nice words Myles. Now is not the time to be looking at portfolio performance. Will be lots of hurt out there and real suffering. Its a time for looking out for your fellow neighbour.
    Of course there are some who rely on dividend and interest income, so yep, portfolio performance is very important for their wellbeing. Will they be getting lost income support when dividends and interest dry up?

    Also landlords when their tenants can no longer afford the rents - they will somehow need to suck it up too?
    Last edited by Bjauck; 18-03-2020 at 10:32 PM.

  13. #4513
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    Quote Originally Posted by Bjauck View Post
    Of course there are some who rely on dividend and interest income, so yep, portfolio performance is very important for their wellbeing. Will they be getting lost income support when dividends and interest dry up?

    Also landlords when their tenants can no longer afford the rents - they will somehow need to suck it up too?
    Yes, a lot of us on this forum will not be getting anything from the relief package from the government. A lot of us are also seeing our lifelong savings greatly diminished by the brutal drop in the stock market.

    But at least I think a lot of us here are probably in the position where we do not have to worry about where our next meal is coming from.

    And for those landlords losing rent from the tenants, it is a terrible situation to be in indeed. But I think still better than their tenants worrying about not having a roof over their heads.

    Stay healthy everyone! Look after you and yours. AND Wash your hands!

  14. #4514
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    Quote Originally Posted by Cool Bear View Post
    Yes, a lot of us on this forum will not be getting anything from the relief package from the government. A lot of us are also seeing our lifelong savings greatly diminished by the brutal drop in the stock market.

    But at least I think a lot of us here are probably in the position where we do not have to worry about where our next meal is coming from.

    And for those landlords losing rent from the tenants, it is a terrible situation to be in indeed But I think still better than their tenants worrying about not having a roof over their heads.

    Stay healthy everyone! Look after you and yours. AND Wash your hands!
    Of course, as with business owners, when your income is reduced, you can always sell your equity at the current distressed prices. So yep, for some the continued monitoring of their investment portfolio of fixed interest and shareholdings remains an important consideration. There may well be some for whom their financial investments are like a hobby, with a more than ample alternative safe source of income.

  15. #4515
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    Just as a matter of interest, has anyone had a full repayment since 20 March, or seen any loans on the marketplace?

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