Finclusion loans overdue
I see Finclusion loans in my 'overdue' section, in 'temporary cases', it says the 'Up to 2-3 weeks' recovery time but it has been like that for almost 6 weeks now. The name 'temporary cases' is misleading; everything is temporary (our patience too).
It says 'Temporary payment disruption' and the last status update is from 18th December 2023, which is before the problem started, and it's 2 months ago.
Could you please post an update there, and maybe reclassify the loans as either fully overdue or non-overdue?
My stuck Finclusion South Africa 'claims', finished on 03.01.2024, are
https://www.mintos.com/en/loan/46669237-01
https://www.mintos.com/en/loan/46021873-01
https://www.mintos.com/en/loan/46021865-01
It could also be worth investigating the cause of this long delay (whether it's Mintos, or Finclusion, or a non-SEPA payments, or 'score withdrawn' companies not receiving any attention, etc.).
I checked the spreadsheets available at https://www.mintos.com/en/about-overdue/ and there's one for 'temporary' cases, but it doesn't show Finclusion South Africa, it only has Finclusion Kenya (by the way, it doesn't say which year, I'm not sure it's from this year).
Most people will click around the main mintos interface instead of the reports, so I think these 'temporary' cases should receive normal status updates inside the website, e.g. after one and half weeks of being 'temporary'.
-
Hello Danielsc, thanks for your questions.
The payment processing was delayed due to the reasons outside the lending company’s and Mintos’ control, which is why it was classified as temporary payment disruption. I can see that the loans that you listed got repaid after due date.
0 -
Marek (Mintos) Being repaid after due date is a common occurrence. What's not common is having the loans stuck for almost 8 weeks (as of now, with 46021873-01). And the part where Mintos can improve, as mentioned above, is:
- describing the situation in the 'overdue' section when you click on it, once it's more than e.g. 10 days overdue
- listing the overdue loan at https://www.mintos.com/en/about-overdue/, when it's being overdue for more time than usual
- maybe you can also update the 'time' column in the overdue section, where it says 'Up to 2-3 weeks' to another estimate, when it's clear that it's taking more than 2-3 weeks, otherwise it's wrong
I propose writing a status update after 10 days of overdue because that's more or less in the middle of the 2-3 weeks estimate.
0 -
Hello Danielsc,
thank you for the feedback provided, I have forwarded this to the responsible department.
0 -
Two of my loans were repaid, but this one remains: https://www.mintos.com/en/loan/46021873-01
Last line says: In recovery: 56.23 €
The loan ended almost 4 months ago (it says: closing date: 30.12.2023).
However it's still listed as 'temporary' and 'up to 2-3 weeks'. But it has been 4 months; it seems very stuck.
No recent information:
I would expect updates there but Mintos' updates are often empty ("pending due to reasons outside of our control", "no updates", "transfer delay" etc.). From the investor's point of view, it's important whether a loan is delayed 4 months or not, and why it happened. Is it the country? The currency? The loan originator? A bug? Mintos processes? The non-EU payments? …
I know it's 'just' 1.68 €, but if this happens with 1.68 € I don't have confidence to put a larger amount.
0 -
Around today, https://www.mintos.com/en/loan/46021873-01 was also repaid. Four months and a half after the end date.
I still don't know the reason why this happens, and there are some processes to improve transparency, as mentioned above.
0
Přihlaste se, abyste mohli napsat komentář.
Komentáře
Komentáře: 5