Harmoney

[CR111]

I've just been smashed with charge offs this month. Far worse than any other month since I started a year ago.

[Cool Bear]

I've just been smashed with charge offs this month. Far worse than any other month since I started a year ago.

me too... 15 write offs in 30 days!! that doubles the other 15 written off from June last year to 20th March.

[Knot]

Stuff posting about the fraud now. http://i.stuff.co.nz/business/indust...audulent-loans

[kiwi_on_OE]

Stuff posting about the fraud now. http://i.stuff.co.nz/business/indust...audulent-loans

I note Neil Roberts quote ""In all 26 cases, the New Zealand Police were notified. In every case, arrests were made and charges laid. All cases have been before the courts...". In light of this I find it interesting that these particular loans have been written-off. Does that mean the money has gone offshore to somewhere it can't be recovered from? I hope the people will be bankrupted, if they aren't already, just a shame that there is no money to recover. Also surprising/impressive that Harmoney already know there is nothing to recover.

Have any investors in these loans received an email from Harmoney about it? I haven't seen anything within the website. I'm a bit disappointed with the lack of communication/openness from Harmoney.

Am I being a bit negative about Harmoney? Or are they bringing it on themselves?

[emveha]

I would be curious if anyone with lots of write-off notice a pattern of more frequent rewritten loans among them. I see lots of rewrites being allowed to double their borrowed amount after as low as 4 successful payments (when almost all write-offs will happen past the 6 months mark).

[IntheRearWithTheGear]

I would be curious if anyone with lots of write-off notice a pattern of more frequent rewritten loans among them. I see lots of rewrites being allowed to double their borrowed amount after as low as 4 successful payments (when almost all write-offs will happen past the 6 months mark).

4 rewrite defaults out of 70 defaults.

I thought charge off was an accounting term for 6 months non payment. Maybe allows you to move things around on your balance sheet if your a company etc..

[Darchie]

I've just had my first rewritten type loan charged off.. ... Loan 32550 which showed 6 successful payments when i invested into it ... now I've tried to get info from HM if that is infact 6 months of successful on time payments or JUST 6 successful payments .. Huge difference in my view, as yet, have not had any confirmation either way! I felt it was a question that was being avoided.

[Saamee]

Maybe Dan & Monica have taking a Holiday... !!! No Reply yet

OK OK - Dan & Monica have 'Gone to Ground'.... 3rd time of asking ( 1 week ) and no replies!!

No other contact here from the pair in 7 days !

[Saamee]

Dan \ Monica,

Is Harmoney working on an Android Mobile Phone App at all yet??

OK OK - Dan & Monica have 'Gone to Ground'.... 3rd time of asking ( 1 week ) and no replies!!

No other contact here from the pair in 7 days !

[Kelvin]

Saw this loan which the borrower has $20,000 income a month (after tax!) yet they're borrowing $25,000 to go to the dentist!!
Capture.jpg

I am losing trust in their system these days with all this fraud, rewrites and write-offs. Yesterday I got an A5 loan written off! I do understand the risk of P2P lending but feel Harmoney could do better with investor communication, and looking into loans that seem ridiculous like the one above.