darrenc - Why are you pulling your money out of Harmoney.
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Harmoney went through a phase, starting a few months ago, where there were virtually no loans, then it started a phase of some loans but almost none of them matched my lending criteria. I haven't looked for a couple of months now - just taking the money out as it becomes available. I'm making 14.5% which is reasonably good (and the same as what I'm making at LC), but it did require me to be constantly on it to get into the loans and I don't really have time.
I am doing the reverse of you guys, ie pulling out of LC and increasing Harmoney. I have about 30K in each and have been in both from the beginning and am pretty satisfied with returns (12% LC and 13% harmony) Returns are lower than other investors on ST but I could only get the A loans most of the time on LC and now only go for the B and C loans on Harmoney.
My reason for lending on P2P was to supplement the lower returns on term deposits and although it requires some time at the computer it has done the job for me for the last 4 years. I am aware of the risks if there is a downturn but by accepting slightly lower returns I hope to avoid a hiding to some degree.
People are either still using automated investment software or investing hundreds or thousands in a loan
I think option A. No matter how quickly I open the LC site, there is always a large chunk of the loan already gone.
I've been aggressively withdrawing from LC since whenever it was earlier this year. Until now that money has floated straight over to Harmoney where my return has always been a percent or two higher. At the current rate I might be cleared out in another 18 months.
The thing that disappoints me most is that when they banned the use of auto invest software they said they would be hard on those that did not comply. They cannot be policing this as yesterday a loan was gone in 10 seconds. No way humans can work that quick. So those playing with a straight bat are penalised.
LN000-057-737 is 78 days overdue. Does anyone have the details for this loan?