ID Finance Spain and Mexico Update
The listed amount includes pending payments that have been restructured and extended. ID Finance Spain and Mexico have to cover the restructured amounts (€18 million total) by 31 December 2022 at the latest. To make sure you are receiving adequate interest for the period, interest for the restructured pending payments has been increased from 1.2x to 1.4x the base interest rate of the investment starting from 22 July 2022 (this amounts to an average interest rate of 17.6% per annum).
Hello! Is there an update on this? 31st December is past and gone.
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Lucja (Mintos),
Once more, ID Finance Mexico will fail the deadline of July 2023.
What is the purpose of these repayment agreements if they don't fulfill them? And better, they have no penalties for not fulfilling them...
Congratulations for the good job
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The question that I keep reverting to is - are we (Mintos investors) always last in line? I seems to me that making sure not to fail repaying bonds elsewhere preseeds repaying Mintos investors. Is this correct, Mintos?
What about dividend to ID Finances investors (and other lednings companies) while being behind scheduled payments to Mintos investors?
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1st deadline missed - 31st December 2022
2nd deadline missed - 31 March 2023
3rd deadline missed - 31 July 2023
Lucja (Mintos), to be on the safe side and meet the next one, you should set it to 31st December 2099
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Potřebuješ půjčku? Banka vás odmítá a chcete, aby vám půjčka vyhovovala? Není problem. Bez ohledu na vaši finanční situaci. Nabízím hypotéky, podnikatelské půjčky, mezinárodní půjčky, osobní půjčky a exkluzivní půjčky na vzdělávání. Nabízím půjčky dostupné pro partnerství, jiné veřejné a soukromé a mnoho dalších. Jsem připraven Vám poskytnout jakýkoliv úvěr, nemovitost, financování a další. Nabízím dlouhodobé i krátkodobé půjčky. Kontaktujte mě ještě dnes a využijte služby prvotřídní finanční půjčky.
E-mailem: michalbalak66@gmail.com0 -
Once ugain you spit on our face with lie.
You know it was impossible for them to refund since the beginning regarding their schedule.
What is your next lie ? 31 December 2023 I presume ...0 -
You must be joking. Do your job and get our money back - this is going on for far too long. You should have leverage also with IDF Spain..
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Lucja (Mintos),
Not a single word about this?
So you drop the bomb and run away?
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Lucja (Mintos) ?
For all the ones affected by Mintos and ID Finance (amongst others), I recommend you to write a review in Trustpilot for Mintos
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Dear Investors,
We understand your concerns and frustrations regarding the extension of the payment schedule. We want to assure you that each time the payment deadlines were postponed, it was not done without our knowledge and careful consideration. We engaged in negotiations with the lending company to explain the situation and provide the reasoning behind the postponement.It is important to note that the lending company, ID Finance Mexico, is obligated to pay an increased interest rate of 1.4 times the base interest rate for as long as the payments remain unsettled. This means that you and all other affected investors will receive higher pending payment interest for the duration of the delay. This is a way for the lending company to compensate for the delay and repay the outstanding amounts.
It is standard practice for lending companies to pay additional pending payment interest if they fail to settle payments within the standard settlement period. However, it is worth mentioning that Russian and Ukrainian lending companies are exempt from this requirement.
Our primary goal is to recover all the funds owed to investors as quickly as possible. However, there are various factors and variables that can impact the process and potentially cause delays.
We appreciate your patience and understanding during this challenging time. Rest assured, we are doing everything in our power to resolve the situation and ensure that you receive your funds as soon as possible. If you have any further questions or concerns, please don't hesitate to reach out to us directly.
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As usual the same bullshit. You don't make any effort to change a little bit your text...
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Potřebuješ půjčku? Banka vás odmítá a chcete, aby vám půjčka vyhovovala? Není problem. Bez ohledu na vaši finanční situaci. Nabízím hypotéky, podnikatelské půjčky, mezinárodní půjčky, osobní půjčky a exkluzivní půjčky na vzdělávání. Nabízím půjčky dostupné pro partnerství, jiné veřejné a soukromé a mnoho dalších. Jsem připraven Vám poskytnout jakýkoliv úvěr, nemovitost, financování a další. Nabízím dlouhodobé i krátkodobé půjčky. Kontaktujte mě ještě dnes a využijte služby prvotřídní finanční půjčky.
E-mailem: michalbalak66@gmail.com-1 -
Lucja (Mintos),
You can write 20 sentences and say nothing. Congratulations for that. You didn't even say what is the new (fake) deadline.
Once more, I recommend everyone affected by Mintos to submit a review in Trustpilot. This way we can warn other investors about Mintos.
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Same BS as always.. I am real sick of it.
Lucja, can you state another proposed deadline or is this gonna take another random 2 years to be settled?
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Dear Investors, we understand your concerns regarding the current situation. We are actively working on resolving it and providing the necessary information as soon as possible.
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Lucja (Mintos),
We were supposed to receive all our money back from ID Finance Mexico by today.
All we got was a sentence in the montly updates stating: "The company has informed us that they will not meet the deadline, we are discussing an alternative timeline."
Then you question why your users state you have poor transparency/communication...
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Lucja (Mintos),
What is the new date? 2030?
What is the additional compensation we'll receive for one more deadline missed?
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Bruno
Thank you for your patience and understanding throughout this process. As we informed in our recent email, the repayment plan will span from August to November, with monthly installments of €150k. In December, the process will culminate with a bulk payment.
To demonstrate our commitment to our investors and make up for the delay, we have maintained an attractive interest rate of 1.4x the base interest on the restructured payments. This means that investors will receive a 17.6% interest, significantly higher than the current market rate of 12.6%.
ID Finance Spain will extend its support to ID Finance Mexico, utilizing any favorable settlements to expedite the repayment schedule. Moreover, any additional funding received will be directed towards accelerating the repayment process.
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Lucja (Mintos),
You might want to rephrase and fix your text:
- In December, the process will might culminate with a bulk payment. - you should've learned with the two missed deadlines from ID Finance Mexico.
- This means that investors will receive a 17.6% interest, significantly higher than the current market rate of 12.6%. - this is not true for all investors. In my case, my interest rate with ID Finance is between 10 and 10.5%. Multiplied by x1.4 is still below 15% so don't generalize for all investors. I'm really interested to know the real (weighted) average. I bet it's way far from the 17.6% you advertise.
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Question for Mintos:
Is ID Finance prohibited from paying dividend to shares holders, bonus to the management teams and pay off bonds during this period of not being able to fulfill its commitment to the Mintos investors?
Are other lending companies?
What kind of securities / collaterals have ID Finance presented to Mintos?
Is there a corporate obligation from ID Finance towards ID Finance Mexico and if so why has it not been called?
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I have not received a fucking penny from IDF Mexico as of today. Also, I have not received a fucking penny for the pending payments - where do I see how much has already accumulated over YEARS now? This is all only paper money...
Mintos is talking about understanding and transparency - they are not. And they are part of this problem. Lucja, Get our money back and sue the shit out of them. As mentioned earlier by others, what is our additional compensation for failing deadlines again and again? You cannot even communicate a new plan except for best effort..1 -
Hi name and others,
What many investors are still not realizing is that there is no Mintos and them (orginators), Mintos is them. How Mintos, and other P2P platforms, are owned and were created, are intimately linked to the loan originators, if not created directly by them.
Mintos is just a facade, to make you think you are being "protected" from the loan originators, and for them to include once more additional layer of free funding, through the multiple deadline extensions and pending payments, for which you receive zero.
You guys have to organize and start suing them. You have to open the can of worms, beyond just writing posts. Organize yourselves!
All the best in the crusade.
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So the new schedule
4 155 335 € in recovery (at this moment this is not late payment)
- 150.000 € expected in september
4.005.335
-150.000€ expected on october
3.855.335
-150.000 expected on november
3.705.335
So u really expect that ID Finance will pay 3.705.335 on december when they can't respect the last promise.
U are totally incompetent and stupid to think they will succeeed this time.
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I highly doubt they will make it.
And on top of that, they have to pay additional pending payment interest, so the total amount will be above 4M.
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As ever, mintos does not do shit and also does not care at all. I still have not received a single penny from IDF Mexico... Just leave the platform. I am absolutely sick of it.
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Can Mintos answer how ID Finance will pay in december ?
Can you show some client service ? For a single time...
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Hi Vincent Merlino,
Thank you for your question.
The repayment plan comprises monthly payments of €150,000 from August to November, followed by a significant December payment. In August and September, ID Finance Mexico met the €150k payment, aligning with the agreed schedule. The company now holds a restructured balance of €3,855,335 and has made a total payment of €3,268,991. We have confidence in ID Finance Mexico's commitment capabilities, given its history of surpassing scheduled payments and current strong position for continued performance. Furthermore, ID Finance Spain will offer support to expedite the repayment schedule, with any favorable settlements aiding in this process. Additionally, any extra funding will be channeled to accelerate the repayment timetable.-2 -
Lucja (Mintos),
why don't you consider also their ability to miss 3 deadlines ?
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Hi Lucja (Mintos),
Hi Elmars (Mintos),
ID Finance Mexico has less than two months to transfer >4M €. Please share with us the detailed plan for this transfers, namely amounts and dates.
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ID FINANCE tiene, supuestamente, hasta final del 2023 para realizar el pago del dinero de los prestamos que debe.
Los inversores continuamos a la espera de recuperar nuestro dinero.
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ID FINANCE, supposedly, has until the end of 2023 to pay the loan money it owes.
Investors continue waiting to recover our money.
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Hi Bruno,
The company is making payments according to the schedule. In the next update, there will be more clarity and details on the current plan to repay the remaining exposure by the end of December 2023.-1
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