MoolahSense investing Thread

[ericsem]

I put 2k in last year or was it 2015 can't remember. 1k into offshore construction another into Yuen Loong watch. The offshore finished repayment with no problem, but this Yuen Loong watch think only paid once or twice then every month late, moolahsense keep saying they trying to recover, only get peanuts, now still got around $900 not paid and the campaign now been classified as "stressed"

KNN will never invest with them ever again.

I have invested into a few companies (min 1k) since 2015 and was hit by Rupini's Beauty Consultant Pte Ltd which has only paid a few times (the original maturity date was Nov 2015) and have stopped since early 2016 and over 90% of P+I still unpaid. Moolahsense also kept saying they are trying to recover and now suing the company and director and the campaign is now been classified as "Stressed". Also stopped investing in them after that.

 

[zeroX26]

Here's a good site where one can visit to read up more on SG P2P lending. No, there's nothing to be sold on the site and its not a P2P lending site. http://letscrowdsmarter.com/

 

[Eternit]

I have invested into a few companies (min 1k) since 2015 and was hit by Rupini's Beauty Consultant Pte Ltd which has only paid a few times (the original maturity date was Nov 2015) and have stopped since early 2016 and over 90% of P+I still unpaid. Moolahsense also kept saying they are trying to recover and now suing the company and director and the campaign is now been classified as "Stressed". Also stopped investing in them after that.

Wah you more jialat. yeah this 900 plus I already lost hope liao. That day I called they still say if we pursue legal actions then the investors may need to bear the legal costs LOL

 

[cubana]

I have invested into a few companies (min 1k) since 2015 and was hit by Rupini's Beauty Consultant Pte Ltd which has only paid a few times (the original maturity date was Nov 2015) and have stopped since early 2016 and over 90% of P+I still unpaid. Moolahsense also kept saying they are trying to recover and now suing the company and director and the campaign is now been classified as "Stressed". Also stopped investing in them after that.

https://www.facebook.com/MoolahSense/

why don't u guys go n post 1 star review on their FB? They're still getting a lot of suckers to put $ with them. Don't let them get away with such scam like products

Usually public shaming will force coys to pay back users n u can get your $ back.

 

[Xenith]

I invested in 3 companies $1k each at about the same time. 2 of them paid up successfully.

One of them, REX Cinemas, is still under arrears of $700+.

Invested in May 2016. Supposed to be equal payments till May 2017.

They only paid 3 instalments and subsequently did not pay out. When moolahsense team chased them and threaten legal action, they started pay in dribs and pieces.

1 bad investment and wipe out gains from others. high risk.

 

[Xenith]

I have invested into a few companies (min 1k) since 2015 and was hit by Rupini's Beauty Consultant Pte Ltd which has only paid a few times (the original maturity date was Nov 2015) and have stopped since early 2016 and over 90% of P+I still unpaid. Moolahsense also kept saying they are trying to recover and now suing the company and director and the campaign is now been classified as "Stressed". Also stopped investing in them after that.

SAME HERE. I got hit by REX Cinemas. Now classified as STRESSED.
Stupid directors keep flipping prata.

Wont invest a single cent with them anymore.

 

[Xenith]

I put 2k in last year or was it 2015 can't remember. 1k into offshore construction another into Yuen Loong watch. The offshore finished repayment with no problem, but this Yuen Loong watch think only paid once or twice then every month late, moolahsense keep saying they trying to recover, only get peanuts, now still got around $900 not paid and the campaign now been classified as "stressed"

KNN will never invest with them ever again.

SAME HERE. I got hit by REX Cinemas. Now classified as STRESSED.
Stupid directors keep flipping prata.

Wont invest a single cent with them anymore.

 

[terryhoho]

https://www.facebook.com/MoolahSense/

why don't u guys go n post 1 star review on their FB? They're still getting a lot of suckers to put $ with them. Don't let them get away with such scam like products

Usually public shaming will force coys to pay back users n u can get your $ back.

like that fair to shame MoolahSense?

U go shame DBS when your counter party MIA after u do bank transfer via DBS?

 

[cubana]

like that fair to shame MoolahSense?

U go shame DBS when your counter party MIA after u do bank transfer via DBS?

they introduced the counterparty n consumers trusted them to intro good borrowers.

If they don't get exposed or questioned, how do consumers know if they may be in cahoots with the borrowers to scam public?

 

[epiphany01]

like that fair to shame MoolahSense?

U go shame DBS when your counter party MIA after u do bank transfer via DBS?

yes i think its fair. your analogy is flawed. are u a MoolahSense investor?

I am an early investor into MoolahSense and went into multiple loans with them. I am lucky that only 2 loans went into trouble, of which 1 paid off 1 or 2 months past maturity date. The other one, PWGS, is a more complicated situation but its abt $400+ due only. To me its pocket change, i can well afford it. But it is the loan handling from MoolahSense that has displeased me greatly.

So drawing on my experience with them, i think i am in an apt position to comment.

Early stage, MoolahSense was great...they were open and transparent, willing to listen to feedback. However, when volumes grew and loans started getting oversubscribed within 2minutes. They grew complacent and cocky. In the past, when lenders wanted to borrow money, investors were invited to a presentation and they are allowed to questioned the borrower. That was later dropped. MoolahSense used to have an online forum but that was taken down after alot of users gave them flak. In a bid to get more business to fill the demand from investors, their credit team grew lax and allowed in many companies whom were not credit worthy. I do understand that these SMEs are already not the prime credit worthy borrowers but there's a difference those types and those that you can tell from their cashflow generation that from the first month of the loan, they will struggle to repay. Their staff used to be friendly and open to queries, now when u email them for updates, they will say 'pls wait for our biweekly update', which usually is just generic copy n paste updates.

MoolahSense told investors that if the borrowers default, they will help to chase down the debt. These would be either getting debt collectors in or legal means to sue for the debt. I could elaborate in detail but in summary they didnt do enough and debt recovery is sorely lacking.

DBS is just an intermediary whereas MoolahSense promised to be more than an intermediary. They are different.

 

[epiphany01]

I have invested into a few companies (min 1k) since 2015 and was hit by Rupini's Beauty Consultant Pte Ltd which has only paid a few times (the original maturity date was Nov 2015) and have stopped since early 2016 and over 90% of P+I still unpaid. Moolahsense also kept saying they are trying to recover and now suing the company and director and the campaign is now been classified as "Stressed". Also stopped investing in them after that.

Sivarani, the Rupini boss sent threats to the writer of this article when it was published. MoolahSense also intervened and asked the writer to pull down the article. Why should MoolahSense do it? Their client took a loan and refused to pay, while the writer just stated fact. She took on a huge loan and didn't pay but yet can afford expensive dinner events. Clearly a recalritrant borrower. btw..she has skipped all her pre trial conferences.

Good thing I saved it. enjoy https://file.io/2BtUDg

 

[yoongmy]

Sivarani, the Rupini boss sent threats to the writer of this article when it was published. MoolahSense also intervened and asked the writer to pull down the article. Why should MoolahSense do it? Their client took a loan and refused to pay, while the writer just stated fact. She took on a huge loan and didn't pay but yet can afford expensive dinner events. Clearly a recalritrant borrower. btw..she has skipped all her pre trial conferences.

Good thing I saved it. enjoy https://file.io/2BtUDg

The link not working, it get removed also?

 

[Eternit]

yes i think its fair. your analogy is flawed. are u a MoolahSense investor?

I am an early investor into MoolahSense and went into multiple loans with them. I am lucky that only 2 loans went into trouble, of which 1 paid off 1 or 2 months past maturity date. The other one, PWGS, is a more complicated situation but its abt $400+ due only. To me its pocket change, i can well afford it. But it is the loan handling from MoolahSense that has displeased me greatly.

So drawing on my experience with them, i think i am in an apt position to comment.

Early stage, MoolahSense was great...they were open and transparent, willing to listen to feedback. However, when volumes grew and loans started getting oversubscribed within 2minutes. They grew complacent and cocky. In the past, when lenders wanted to borrow money, investors were invited to a presentation and they are allowed to questioned the borrower. That was later dropped. MoolahSense used to have an online forum but that was taken down after alot of users gave them flak. In a bid to get more business to fill the demand from investors, their credit team grew lax and allowed in many companies whom were not credit worthy. I do understand that these SMEs are already not the prime credit worthy borrowers but there's a difference those types and those that you can tell from their cashflow generation that from the first month of the loan, they will struggle to repay. Their staff used to be friendly and open to queries, now when u email them for updates, they will say 'pls wait for our biweekly update', which usually is just generic copy n paste updates.

MoolahSense told investors that if the borrowers default, they will help to chase down the debt. These would be either getting debt collectors in or legal means to sue for the debt. I could elaborate in detail but in summary they didnt do enough and debt recovery is sorely lacking.

DBS is just an intermediary whereas MoolahSense promised to be more than an intermediary. They are different.

Agree, and last week I called them regarding a stressed payment, they even got the cheeks to say if we take legal actions you investors will bear the legal fees lol

 

[wira]

Agree, and last week I called them regarding a stressed payment, they even got the cheeks to say if we take legal actions you investors will bear the legal fees lol

sounds like moolahsense is something i should avoid then ...

 

[epiphany01]

The link not working, it get removed also?

sorry. it shouldnt be, probably error on my end..let me reupload it on Mon as the file's in office!

sounds like moolahsense is something i should avoid then ...

pls. do yourself a favour and run as far away from them as possible.

Agree, and last week I called them regarding a stressed payment, they even got the cheeks to say if we take legal actions you investors will bear the legal fees lol

they started great but these days the guy on the phone is very rude. just wanna get off the line asap. can't even be bothered to update us when calling in. Despite saying we should call if any issue, when we do, they say wait for their stupid biweekly update

 

[terryhoho]

Deleted. Deleted

 

[terryhoho]

Deleted. Deleted

 

[cubana]

Agree, and last week I called them regarding a stressed payment, they even got the cheeks to say if we take legal actions you investors will bear the legal fees lol

it says this at the bottom of its website: "MoolahSense Private Limited is licensed and regulated by the Monetary Authority of Singapore and holds a Capital Markets Services Licence (CMS-100568-1)."

Everyone must feedback to MAS. How can they hold MAS license yet act so unprofessionally?

 

[cubana]

really wonders what the lenders thinking when they lend the money.
expect positive 200k next year is it?
or raise another 60k plus interest to pay this year lender?

so they're supporting a borrower who is raising $ to repay earlier debts? thats dodgy as hell man

 

[terryhoho]

so they're supporting a borrower who is raising $ to repay earlier debts? thats dodgy as hell man

It's common.

When u buy a hdb or house.
After 2 years u refinance the loan. Borrow new money to pay earlier loan.
u have 5 million. Suppose to know this practice.
Unless u from edmw.