Harmoney

[nztyke]

OK a rhetorical question....

Why is it I have had SO many write offs here at Harmoney in 18 months.

And NONE at both Lending Crowd and Squirrel in 12 months??



......................

Yes I have taken my business away from this platform already....

As it was a rhetorical question you know the answer already; Harmoney as a much greater risk/reward ratio than the others. if you are going to lend money unsecured at usurious rates to people (D,E,F) who have to resort to this kind of funding there are going to be significant write offs. I agree with Art and CR111, it's the big picture you have to bear in mind: it's a numbers game.

For the record my write offs are

A 0 out of 266
B 0 out of 329
C 0 out of 245
D 2 out of 126
E 8 out of 87
F 2 out of 26

My annualised returns over a two year period are A 9.7%, B 12.2%, C 16.0% D 17.0%, E 13.7%, F 20.5%, Overall 12.2% This is quite a lot better than LC and I am not in Squirrel