Harmoney

[myles]

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I'm at about $60K withdrawn from original investment of $100K with $84K of principal still in, so I will likely come out well in front but am expecting to take a big hit on many loans.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

[joker]

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.

[leesal]

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.

[Saamee]

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

[Bjauck]

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?

[Cool Bear]

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!

[BJ1]

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

[Toukshare]

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

I snapped up a loan on 24th March and another on the 25th. But I haven't seen anything on the marketplace since 25 March.

I've had one full repayment too 2 days ago.

[Saamee]

Well that's the end of HM P2P.... Just got the offical reminder Email.

What happens to THIS thread now????

[humvee]

Well that's the end of HM P2P.... Just got the offical reminder Email.

What happens to THIS thread now????

Now it seems like they have removed the link to view loan listings half a day early too, so im assuming that is the end of it

Harmoney is officially NOT a P2P lender any more