Credistar and IDF pending payments increasing even though agreement was made
So, I got an e-mail that currently Credistar and IDF Eurasia should not be increasing pending payments. And I checked for the last 3 days my pending payments.
For Creditstar the sum increased by 12% and Creditstar whopping 28%. That´s in 3 days. Doesn´t look like they are honouring the agreement at this stage.
It is incredible the "progresse" in matter of Pending payment" .
After Mintos' informations of restructuring of ID Finance and Creditstar' pending payments, the situation is becaming even worse. Pending payments are continually growing up.
Dear Mintos team, please, impliment solutions to ameliorate the situation, to ameliorate for investors, not only for lending companys2
Dear Agnes and Dorin,
Thank you for your comments.
We receive weekly payments, while borrowers pay back their loans each day. This means the sums will fluctuate, but the weekly dynamics should show the overall sums decreasing. You can read more about pending payment's functionality here: https://www.mintos.com/blog/pending-payments-everything-you-wanted-to-know/ and follow the updates here: https://www.mintos.com/en/pending-payments-updates/.0
OK, I will track and check next week. Based on the agreement, weekly tracking should not get worse and at least 24-28 July it has getting worse for IDF Eurasia and ID Finance. But lets see next week.0
I am observing almost every day the Pending Payments figures. I can affirme : step by step in the last 4-5 weeks the situation became worse, specially for Creditstar, ID Finance, IDF Eurasia. And the last week it is became more worse than a week ago0
Weirdly a tiny bit of my pending payments went down....
But to one of the problems - basically if those credit companies go bad like this, yet they need money from somewhere - sure, sure they can get from other sources but also we are quite a big source and I assume that others, like me, stopped investing into companies like ID Finance because there's totally no point.
Probably the kind of contract they set up doesn't count yet, because the next days could pile up still some pending payments.
I mean 18% would sound great and all on the pending money from ID Finance. Yet it also again puts big pressure on that company since the issue is they can't borrow enough and don't get enough money in.
Loss of investors and potential other money givers, while having to payback a big bunch more in total....
Well, I just keep on not investing in ID Finance, even when I get my repayment... I will wait for a while and then maybe slightly touch it xD
Creditstar is I think in a better position in general than ID Finance, if I understood correctly0
Also, likely they need all to adjust to the loan packages now, still. But also have to take care of the claims.0
Well, about ID Finance (Spain). I understood the agreement was reached somewhere before 24th of July 2022.
On 24th of July I had some pending payments from IDF. They increased on 27th of July (by 50%) and have been stable on that level ever since. So, I do not see that the LO has kept the promise of not increasing pending payments further as since 28th of July the amount has been steadily higher than on 24th of July.
Other thing I noticed from 12th of July PP report is that apparently IDF transferred 1,2 million EUR to Mintos but on that same report I don´t see that any of the money has been paid to cover the pending payments (column "paid since the last published report" = 0). So that´s a bit confusing.0
AGNES MARIPUU, thank you for sharing your doubts.
Note that at the moment when we published the report, on July 12th, the funds had been already received but not distributed yet. This is why they appeared in a column you mentioned with the next period report only.
In regards to the agreement with ID Finance Spain indeed it can happen that in some cases individual investors may see an increase in their pending payments, while the dynamics, in general, go down.0
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