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  1. #1151
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    Quote Originally Posted by Toukshare View Post
    I agree it seems a lot cleaner than Harmoney.
    However, I do have some arrears (7 loans out of 261 active, so small %). One is 42 days overdue and has never paid anything yet so could well be my first write-off.
    OTOH, Harmoney is a shocker, and their closing to new investment might have been a blessing in disguise for me, $1,000 written off in the past year (since they stopped any new peer-to-peer), it's getting to the point where I'll be lucky to get all my original investment back.
    Harmoney was mostly unsecured loans compared with Lending Crowd? Didn’t Harmoney change how they managed debt collection - maybe that was not successful.

    How did Lending Crowd manage their Covid response? Perhaps they gave longer grace periods than Harmoney did and bad debts have yet to kick in.

    Has Squirrel’s reserve fund taken a hit during Covid?

  2. #1152
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    Quote Originally Posted by Bjauck View Post

    Has Squirrel’s reserve fund taken a hit during Covid?
    Hi Bjauck, I look after Squirrels P2P business. I can confirm that the Squirrel personal loan reserve fund actually increased over the last 12months. At 1/4/20 the balance was ~$506k. At 31/3/21, the balance is $580k. The coverage ratio is in excess of 4.00%. These stats are published daily on our website. All our investors continue to earn the returns we've stated on the tin. Happy to take any further questions.

  3. #1153
    Member Tony Two Gloves's Avatar
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    Quote Originally Posted by DT@squirrel.co.nz View Post
    Hi Bjauck, I look after Squirrels P2P business. I can confirm that the Squirrel personal loan reserve fund actually increased over the last 12months. At 1/4/20 the balance was ~$506k. At 31/3/21, the balance is $580k. The coverage ratio is in excess of 4.00%. These stats are published daily on our website. All our investors continue to earn the returns we've stated on the tin. Happy to take any further questions.
    I have been quite critical of these PTP companies espically Harmoney & The Lending Crowd but I do like Squirrel, best of a bad bunch - sorry DT! I just believe there are much better investmnents around these days than funds in a P2P lender. I can't be bothered to check out if Squirell is making money or not but the other two aren't so not sure why they persist, its not as if TLC team are paying themselves well either so I'm convinced it is just a bad business model apart from shifting the risk to investors.

  4. #1154
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    The last few posts here indicate investors are not having any trouble securing loans now as has been the case early days. I have had no trouble reinvesting and being selective, ie. no unsecured loans. However I have noticed a considerable increase in loan amounts and a big percentage being for debt. consolidation. I try to avoid them and pick others such as vehicle purchase, house renovations etc. Anyone else concerned about the increasing number of these debt. loans ?. I mast add that I have not had any write offs now for a long time. (Should not have said that)
    Soolaimon

  5. #1155
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    Quote Originally Posted by Soolaimon View Post
    The last few posts here indicate investors are not having any trouble securing loans now as has been the case early days. I have had no trouble reinvesting and being selective, ie. no unsecured loans. However I have noticed a considerable increase in loan amounts and a big percentage being for debt. consolidation. I try to avoid them and pick others such as vehicle purchase, house renovations etc. Anyone else concerned about the increasing number of these debt. loans ?. I mast add that I have not had any write offs now for a long time. (Should not have said that)
    I have witnessed the same things as you. More loans (in part due to now having unsecured loans), which gives us more choice as to what we pick and what we ignore.
    I am also uneasy about debt consolidation loans that are for a big amount (for me anything over $40,000). But there are enough of other types to keep me fully invested.
    I haven't had issues with unsecured loans yet (to be honest, if the security is a car, then AFAIK, it might as well be unsecured).
    2 years with LC, and one write-off.
    (2 years with HM and 11 write-offs)

  6. #1156
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    I have been in for 5 years and had 5 write offs totaling $218. Invested in 946 loans of which 646 have been paid off. I am happy enough with that amount of write offs but some of those early paybacks don't help us much and cause extra time reinvesting. Happy at the moment and their recent email re their performance in first 5 years was reasonably encouraging.
    Soolaimon

  7. #1157
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    Quote Originally Posted by Tony Two Gloves View Post
    I have been quite critical of these PTP companies espically Harmoney & The Lending Crowd but I do like Squirrel, best of a bad bunch - sorry DT! I just believe there are much better investmnents around these days than funds in a P2P lender. ....
    In an environment in which Treasury and the Reserve Bank are forecasting zero growth in house prices, from an investor's point of view, which investments do you currently think are better than investing through the platforms operated by Squirrel and Lending Crowd? What do you think their risk/reward profiles are?
    Last edited by Bjauck; 02-06-2021 at 07:16 AM.

  8. #1158
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    Quote Originally Posted by Bjauck View Post
    In an environment in which Treasury and the Reserve Bank are forecasting zero growth in house prices, from an investor's point of view, which investments do you currently think are better than investing through the platforms operated by Squirrel and Lending Crowd? What do you think their risk/reward profiles are?
    I am now ACTIVELY Removing all Returned Funds from Lending Crowd and Harmoney...

    Why?

    Absolutely nothing wrong with either P2P platform.

    However 'My Own Crystal Ball' tells me that with rising Inflation and a Falling LC RAR ( reflecting the lowered platform Interest Rates ) that when my RAR in 4 months time reaches 10%.... Tax @ 33% equates to just a 6.7% return.

    Well REAL Inflation will be around 6.7% by the years end ( although the government may not admit that! )

    So all net proceeds are being turned into 'Allocated Gold and Silver'.....

    Wealth preservation in a period of high inflationary times ahead.

    Just Sold my NZ house too at what I consider is 'The Peak'...... waiting for the Stock Market crash, and then in turn the World housing market crash.....

  9. #1159
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    It sounds high risk to transfer all your investments to metals. With your NZ house sold and net proceeds transferred to precious metals, it begs the question as to how you will pay for accommodation, unless you live with family or your salary can now stretch to cover the accommodation your house provided.

    The CPI has been an understatement of inflation for decades - as afaik non-consumer items such as house prices and land prices have largely been excluded. The taxation system in relation fixed interest investments in inflationary times certainly acts as a disincentive to hold such investments.
    Last edited by Bjauck; 02-06-2021 at 06:43 PM.

  10. #1160
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    OK well it's time for my 5.5 Years Investment Update on Lending Crowd....


    Been in with LC since their very 1st loan which was issued on 21st December 2015.



    Loan Early Repayments = 65.9%


    Platform RAR = 12.07%


    # of Loans = TOTAL = 2,108 \ ACTIVE = 718


    Arrears = CURRENTLY x 2


    This is now the Only P2P Platform I have active investments in, I find that it is the easiest, most straight forward and user friendly to use.


    LC have grown with me as I have grown with LC.


    Everyone investing in P2P is here for the same reason - to increase our earnings.


    I am just keeping an eye on inflation, as my RAR comes down ( expected to hit 10% in a few months time ), @ 33% Tax, when Inflation gets to 6.7% the returns will not be making any money!!


    Happy P2P trading
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    Last edited by Saamee; 12-06-2021 at 01:31 PM.

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