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06-01-2017, 02:12 PM
#1841
Member
Originally Posted by Saamee
OK a rhetorical question....
Why is it I have had SO many write offs here at Harmoney in 18 months.
And NONE at both Lending Crowd and Squirrel in 12 months??
......................
Yes I have taken my business away from this platform already....
As it was a rhetorical question you know the answer already; Harmoney as a much greater risk/reward ratio than the others. if you are going to lend money unsecured at usurious rates to people (D,E,F) who have to resort to this kind of funding there are going to be significant write offs. I agree with Art and CR111, it's the big picture you have to bear in mind: it's a numbers game.
For the record my write offs are
A 0 out of 266
B 0 out of 329
C 0 out of 245
D 2 out of 126
E 8 out of 87
F 2 out of 26
My annualised returns over a two year period are A 9.7%, B 12.2%, C 16.0% D 17.0%, E 13.7%, F 20.5%, Overall 12.2% This is quite a lot better than LC and I am not in Squirrel
Last edited by nztyke; 06-01-2017 at 02:14 PM.
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06-01-2017, 02:49 PM
#1842
Member
Originally Posted by nztyke
As it was a rhetorical question you know the answer already; Harmoney as a much greater risk/reward ratio than the others. if you are going to lend money unsecured at usurious rates to people (D,E,F) who have to resort to this kind of funding there are going to be significant write offs. I agree with Art and CR111, it's the big picture you have to bear in mind: it's a numbers game.
For the record my write offs are
A 0 out of 266
B 0 out of 329
C 0 out of 245
D 2 out of 126
E 8 out of 87
F 2 out of 26
My annualised returns over a two year period are A 9.7%, B 12.2%, C 16.0% D 17.0%, E 13.7%, F 20.5%, Overall 12.2% This is quite a lot better than LC and I am not in Squirrel
this is similar to people that complain about the fees on managed funds (actually simplicities whole gimmick lol) when what matters is the net return.
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06-01-2017, 03:33 PM
#1843
Member
Originally Posted by BJ1
As of now loan 85627 has gone from the list of available loans, the $25 note I subscribed for to test the system has been wiped and the 17 notes I originally subscribed for are shown as being in funding. Presumably, Cool Bear, your 4 notes have been wiped out?
Nope,Igotthe4notes
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06-01-2017, 04:48 PM
#1844
Originally Posted by alistar_mid
this is similar to people that complain about the fees on managed funds (actually simplicities whole gimmick lol) when what matters is the net return.
Hey Guys, Thanks for the alternative way of thinking and looking at this....
I would still rather have Zero losses though!!
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07-01-2017, 09:36 AM
#1845
Member
Originally Posted by Cool Bear
Nope,Igotthe4notes
That makes for an interesting question for Harmoney - how come after I took up all that was left did they manage to find another $100 for you (but cancel my additional $25)? Perhaps there is a manual override to take from the big boys and give to us littlies? Another question for Will when he rings me on Monday.
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07-01-2017, 09:58 AM
#1846
Member
Noticed with Squirrel, if they go broke, then ANZ would take over the loan book until the loans are wound up.
Is this similar with Harmoney? i.e. If they go broke (as I heard they are making net losses) is there any guarantee the loans will continue on?
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07-01-2017, 12:24 PM
#1847
Investor
Originally Posted by Saamee
Hey Guys, Thanks for the alternative way of thinking and looking at this....
I would still rather have Zero losses though!!
If you would rather zero losses then a financial advisor would tell you you're taking on far more risk than you have an apetite for.
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07-01-2017, 12:25 PM
#1848
Investor
Originally Posted by Saamee
Hey Guys, Thanks for the alternative way of thinking and looking at this....
I would still rather have Zero losses though!!
Originally Posted by epower
Noticed with Squirrel, if they go broke, then ANZ would take over the loan book until the loans are wound up.
Is this similar with Harmoney? i.e. If they go broke (as I heard they are making net losses) is there any guarantee the loans will continue on?
Yes they do have a process for this. It is all clearly outlined somewhere on their website. Definitely in the lender agreement and possibly FAQs too.
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07-01-2017, 12:28 PM
#1849
Junior Member
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09-01-2017, 11:55 AM
#1850
Junior Member
They're back to work! RaRs have been updated.
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