LendingCROWD NZ P2P

[Saamee]

Has anyone received their tax certificate for this year? Maybe they are running late, but just want to check that I haven't missed it. As always it's annoying that it is only emailed, and you can't access it on the website itself.

Yes - 1 week ago ( both wife and myself )

Have you chnaged your Email address?? Check your Junk Folder??

[malreid]

I have asked and the reply was they are being sent out this week. So only a few hours to go...?

Or maybe not, I shall have to chase them again.

[Mike64]

They are streight ahead in becoming number 1 provider in unsecured loans by these days provided numbers of those 😂

[malreid]

A couple of emails later no reply this time, call them and the person handling cert's is on their 1:19pm break. At least that's consistent with my current expectations of TLC....

[Saamee]

They are streight ahead in becoming number 1 provider in unsecured loans by these days provided numbers of those 

Yep... Today all Loans are Unsecured and all at 25% Flex!!

LOANZ.jpg

[Mike64]

Insane arrears rates, lousy recoveries of secured loans, very borrower friendly but not investor friendly at all and many more to mention...I'm done with them guys. Hardcore withdrawing now after some slow withdrawal times with 20% out so far.

[beacon]

Insane arrears rates, lousy recoveries of secured loans, very borrower friendly but not investor friendly at all and many more to mention...I'm done with them guys. Hardcore withdrawing now after some slow withdrawal times with 20% out so far.

Me too...

While their loan quality and service standards have been dropping for some time now, 25% flex loans are now the norm. Investor funds are not cleared same day and in time as they used to be (despite banking and industry improvements in NZ), and risk on their loans for investor has grown while return has diminished.

Their loan quality and return used to be so in demand, loans got lapped up in seconds after they listed. Now they languish for days, and need to be mopped up by their inhouse finance company. Perhaps, due to a conflict of interest between their P2P and finance company models, and forgetfulness about who they could be in NZ P2P sector, with Harmoney gone ...

[Saamee]

Me too...

While their loan quality and service standards have been dropping for some time now, 25% flex loans are now the norm. Investor funds are not cleared same day and in time as they used to be (despite banking and industry improvements in NZ), and risk on their loans for investor has grown while return has diminished.

Their loan quality and return used to be so in demand, loans got lapped up in seconds after they listed. Now they languish for days, and need to be mopped up by their inhouse finance company. Perhaps, due to a conflict of interest between their P2P and finance company models, and forgetfulness about who they could be in NZ P2P sector, with Harmoney gone ...

Yes and Agreed.


They appear to be struggling with staffing issues.


To be honest - since Aedi moved on within the company nothing has been the same.


I often find I have to Email them to ask for my funds to be cleared ( sent ASB to ASB ) after Midday!!!


Loans simply are crap at the moment....


Have been with them since the 1st day but now they are not the same as they were 6 or 7 years ago


Wayne - you know who I am - feel free to call and discuss

[Mike64]

Most insane loan of the day:
- B1 unsecured
- a catching 10% Flex
- 60 Month with 27k for damn debt consolidation (unbelievable!)
- medium financial situation
- and one default!!!

Hell, they should never have handed out that loan. Debt consolidation loans are the worst only helping people to again go into debt spiraling deeper.
To make it looking good for investors Flex is 10%.
Shame on them!

[Mike64]

I'm giving them a chance to improve investor satisfaction significantly. But I wouldn't hesitate to go to the press if no improvements are visible after some time. There are plenty of loan statistics and loan performance indicators to go public with.

I don't want to get there, I want them to get to a proper performance level. Going public would be my last resort in case they don't want to improve their performance.