They recently keep sending email to say how they tackle default and stuff.. all ********.. Totally nv do what they supposed to do..
MoolahSense investing Thread
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soulblader_89
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This type of P2p no matter how safe they claim, do be mentally prepare they might run road
dun invest too much it
it is very common for them to run road, and dun expect MoolahSense or govt to help u get back the money, just look at obike
dun invest too much it
it is very common for them to run road, and dun expect MoolahSense or govt to help u get back the money, just look at obike
StealthShadow
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holy **** you invested 12k in a small high risk company?!?!
either you are rich and have more than 200k in savings... or your balls are damn bloody big
holy **** you invested 12k in a small high risk company?!?!
either you are rich and have more than 200k in savings... or your balls are damn bloody big
not me. all invested amounts were visible too all investors at that time.
bro, respect you! you take it well with investment losses...everything is about calculated risk... I kenna Etherium slaughter 50% of my capital...suck thumb... buy shares also sama sama... in good times... everything goes well.. bad time...for those who are not ready to risk...better side line and watch other people spread their positions. High risk...high gain... diversify across all different asset class and we will be fine.
Facebook drops like a rock...heavy losses! Should have sold them when they testify.
buy toto seems a better bet these days...
Facebook drops like a rock...heavy losses! Should have sold them when they testify.
buy toto seems a better bet these days...
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customer support / debt collectors are useless when those guarantors can just file for bankcruptcy and god knows if u can get the money back. for shares if u got the time can still wait it out to cut the losses. guess im done with p2p but will still keep my fs account running.
VycNotVic
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All types of investment have potential to lose everything. So, invest only what you can lose. If you are punting, the prepared to lose big. I am actively investing in Moolahsense and Capmatch. Both are giving me decent yield.
And no, I am not going to write a Moolahsense review and field report. So many "reports" out there already. I prefer to read and take it with a pinch of salt. Other people making money or losing money is not an indicative I will end up like them.
And no, I am not going to write a Moolahsense review and field report. So many "reports" out there already. I prefer to read and take it with a pinch of salt. Other people making money or losing money is not an indicative I will end up like them.
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Why do you avoid Funding Societies?
As a comparison across the 3 platforms:
I like Funding Societies the most. 100% repayment rate though headline interest rates are lower. However because their track record has been fantastic, it is not easy to get a good size of each deal...
For Capital Match, it is too early for me to give a verdict. Loans that are >90 days past due now form half of my portfolio. There's an analysis page which shows that my portfolio's performance is in-line with the rest of the investors. The sizeable past due loans are due to 2 companies which I made significant loans to (Previously I didn't know I could cap my exposure to each company under their auto-invest function) though Capital Match still expect full recovery given that these 2 companies are still repaying invoices earlier than mine.
The worst is no doubt MoolahSense. The so called double digit returns are advertisement gimmicks shown on your investing dashboard when you start investing. But as Supersian observed, his dashboard now shows his projected returns as -4%. Mine is slightly better at -3%. Apparently, the projected returns only factors in the P&L of default when it occurs. So... the numbers on my dashboard came crashing down quickly from double digit to this in less than 5 months... By my own judgement, I think my losses will likely end up around 10%-20%, even after netting off the interest earned from the performing loans. Dyodd
As a comparison across the 3 platforms:
I like Funding Societies the most. 100% repayment rate though headline interest rates are lower. However because their track record has been fantastic, it is not easy to get a good size of each deal...
For Capital Match, it is too early for me to give a verdict. Loans that are >90 days past due now form half of my portfolio. There's an analysis page which shows that my portfolio's performance is in-line with the rest of the investors. The sizeable past due loans are due to 2 companies which I made significant loans to (Previously I didn't know I could cap my exposure to each company under their auto-invest function) though Capital Match still expect full recovery given that these 2 companies are still repaying invoices earlier than mine.
The worst is no doubt MoolahSense. The so called double digit returns are advertisement gimmicks shown on your investing dashboard when you start investing. But as Supersian observed, his dashboard now shows his projected returns as -4%. Mine is slightly better at -3%. Apparently, the projected returns only factors in the P&L of default when it occurs. So... the numbers on my dashboard came crashing down quickly from double digit to this in less than 5 months... By my own judgement, I think my losses will likely end up around 10%-20%, even after netting off the interest earned from the performing loans. Dyodd
I started off with around 76% in MS, 12% in FS and 12% in CM. I invested most in MS because it was the only platform where you can see how many invested and their amount. Also i think there are more details on the company and the guarantors etc. so angry investors can look them up should they play punk.
My observations on CM are 1) about 25% is late payment from 1-3 months. 2) The late reasons they give are quite generic. 3) withdrawal need $5, which is quite alot, already 1% if your interest income is $500. 4) no control over the investment amount as it is pro rata basis. amount can range from $1+ to $600++. 5) over saturated. 100% funded within mins. no point reading the prospectus.
But, the net income is the highest in my case and is a good additional income platform if you intend to set aside an amount and just let it auto-run until eternity.
For FS, same as wonghw12, the track record is good, and the late updates seem detailed and personalized, not some copy pasta. But, it is the most satuarated. most of the time can only invest $50 or $100. also, no charge for withdrawal.
Now, i feel the p2p market is over saturated and the trend is going towards auto-investing with minimum amount or pro-rata basis. not worth the effort to read through 100+ companies details just to invest $100 and earn $10 each. even if you do, you will lose out to auto-investors. and if 1 defaults, not only all the efforts wasted, you also lose the opporunity costs which you could have earned elsewhere.
My observations on CM are 1) about 25% is late payment from 1-3 months. 2) The late reasons they give are quite generic. 3) withdrawal need $5, which is quite alot, already 1% if your interest income is $500. 4) no control over the investment amount as it is pro rata basis. amount can range from $1+ to $600++. 5) over saturated. 100% funded within mins. no point reading the prospectus.
But, the net income is the highest in my case and is a good additional income platform if you intend to set aside an amount and just let it auto-run until eternity.
For FS, same as wonghw12, the track record is good, and the late updates seem detailed and personalized, not some copy pasta. But, it is the most satuarated. most of the time can only invest $50 or $100. also, no charge for withdrawal.
Now, i feel the p2p market is over saturated and the trend is going towards auto-investing with minimum amount or pro-rata basis. not worth the effort to read through 100+ companies details just to invest $100 and earn $10 each. even if you do, you will lose out to auto-investors. and if 1 defaults, not only all the efforts wasted, you also lose the opporunity costs which you could have earned elsewhere.
VycNotVic
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Bond vs P2P
I think for me, I will stick to Moolahsense and CapMatch since my investment is still positive and they have more loans to invest in than FS. I will not bash any company even if I lose money. Its not like that they forced us to invest.
I truly believe every company has their merit and as the end user, its our own choice. Too many "fake news" out there these days. Best for people to try it on their own rather than listening to rumours.
I think for me, I will stick to Moolahsense and CapMatch since my investment is still positive and they have more loans to invest in than FS. I will not bash any company even if I lose money. Its not like that they forced us to invest.
I truly believe every company has their merit and as the end user, its our own choice. Too many "fake news" out there these days. Best for people to try it on their own rather than listening to rumours.
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oAkEn86
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Anyone knows if tax need to be declared for the int earned through moolahsense?
Context is that of Singaporean working and staying in Singapore.
Read through the faq on the website and it said to seek own financial advice to confirm.
Context is that of Singaporean working and staying in Singapore.
Read through the faq on the website and it said to seek own financial advice to confirm.
MoolahSense interest is not taxable, I emailed to ask IRAS already to confirm with them - you know you can email and ask for yourself.
Would discourage any buddies here from investing with MoolahSense. My MoolahSense dashboard now showing -3.34% projected returns, very heartpain already and I know this will most likely worsen coz more defaults will come from many companies that are delinquent but yet to classify as default. This is from a well-diversified portfolio of 60 loans across many companies and industries.
As an update, my tally now stands at 39% default rate, with 9 in default and 14 fully paid.
But of course if die die you want to invest nobody will stop you. In fact let me know if you are going to, so I can give you referral link and we both earn the referral rewards.
Would discourage any buddies here from investing with MoolahSense. My MoolahSense dashboard now showing -3.34% projected returns, very heartpain already and I know this will most likely worsen coz more defaults will come from many companies that are delinquent but yet to classify as default. This is from a well-diversified portfolio of 60 loans across many companies and industries.
As an update, my tally now stands at 39% default rate, with 9 in default and 14 fully paid.
But of course if die die you want to invest nobody will stop you. In fact let me know if you are going to, so I can give you referral link and we both earn the referral rewards.
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Shockingly, MoolahSense has unilaterally changed the terms of a number of loans, without any consultation or asking for us to vote.
The key changes include:
(1) Extending the original 6 month loan to 18 months tenor.
(2) The loans are restructured into interest free loans as late interest is no longer accrued.
There is a severe lack of information why such a restructuring took place. Also no clarity if restructuring leads to a better outcome and no sense if the borrower can commit to the restructuring.
Obviously unhappy, I contacted MoolahSense and was told that "should the borrower continue to be late, we may either further restructure the loan or poll the investors if a legal route would be preferable." Wow there's still a chance that the interest free loan will be extended on a unilateral basis by MoolahSense...
An example of one of the loan, copy pasted from MoolahSense:
"As part of our debt recovery strategy, we have liaised with the Issuer and have agreed on a loan restructuring plan. As part of the restructuring agreement, late interest will not be accrued. The Issuer has committed to repay $ 3,600 every month from July 2018 to June 2019. This agreement will be reviewed in June 2019 The Issuer had kept to the agreement in July 2018. We will continue to monitor the next repayment. We will take the necessary actions to improve the overall loan performance."
The key changes include:
(1) Extending the original 6 month loan to 18 months tenor.
(2) The loans are restructured into interest free loans as late interest is no longer accrued.
There is a severe lack of information why such a restructuring took place. Also no clarity if restructuring leads to a better outcome and no sense if the borrower can commit to the restructuring.
Obviously unhappy, I contacted MoolahSense and was told that "should the borrower continue to be late, we may either further restructure the loan or poll the investors if a legal route would be preferable." Wow there's still a chance that the interest free loan will be extended on a unilateral basis by MoolahSense...
An example of one of the loan, copy pasted from MoolahSense:
"As part of our debt recovery strategy, we have liaised with the Issuer and have agreed on a loan restructuring plan. As part of the restructuring agreement, late interest will not be accrued. The Issuer has committed to repay $ 3,600 every month from July 2018 to June 2019. This agreement will be reviewed in June 2019 The Issuer had kept to the agreement in July 2018. We will continue to monitor the next repayment. We will take the necessary actions to improve the overall loan performance."
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Thats great for borrowers. If they cannot pay on time, they can get interest free extension that is twice as long as the original loan period. Like that, nobody will want to borrow from banks
When you reach the stage of late interest, its clear the cashflow of the borrower is in dire straits. At that point, you will be more than happy to get back your capital intact liao.
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