Quote Originally Posted by axe View Post
Last I read of the borrower T's and Q's people can repay their loan early for no penalty.
I appreciate that but question whether it is right??

Quote Originally Posted by Roger View Post
For what its worth my thoughts are that with all the dozens of finance company failures during the GFC what did we learn ? Basically a disturbingly large percentage of consumer credit goes bad in a GFC so in a GFC MK2 I'd expect lenders to get thoroughly belted. Makes this a fair weather investment only doesn't it ?
Really. I though the finance company's were brought down by over lending on second mortgages to questionable property developments.

Consumer credit requires the borrower to either leave the country, go into hiding or declare bankruptcy for the debt to go bad doesn't it?

I will be watching for an increase in consumer default but given share prices also fell during the GFC, the main disadvantage of Harmoney is that the investments are completely illiquid until such time as they introduce secondary market. That is one reason why I favour 3 year loans (over 60% of mine).