ID Finance Mexico
What's the status with ID Finance Mexico? I have the exactly same pending amount for months now... in "Pending payments updates" I can see, that "ID Finance Mexico continued making payments this week"... for couple of weeks.
Hi Lucja (Mintos) ,
I would like to have a real update about the status of pending payments of ID Finance Mexico.
According to the plan, they should pay everything until the end of the year, which is in 1.5 months (with Christmas in between), but so far nothing has happened, and the updates are useless.
What is the expectation that they will fulfil the agreement?4
you are a fraud company. I'm waiting for my money from ID Finance for more than 6 months. You are telling me that within this period you were not able to get my money back from SUCCESSFULLY FINISHED LOAN.
You are supporting thieves covered by Equity... I will wait for ID Finance if they are in profit, yes profit MEAN --> not returning money back to the supporter.4
The new date for ID Finance Mexico is now July 2023 :D :D :D
And they didn't even add any benefit for the investors for not fulfilling again their own deadlines.
Lucja (Mintos), please be so kind to answer me the following questions:
1. Did you check with the investors if they agree with this new restructure or if they would instead prefer to initiate legal proceedings?
2. You mention in your e-mail "we’ve agreed to prolong the restructuring process, while making sure investors are compensated adequately for rolling over their investments" - I don't see any additional compensation for this new roll over, only the one defined in July. Can you explain how are you compensating investors?
3. In your plan for ID Finance Spain, one of the payments will be done in 31 Feb 2023. Is this an assumption that you will fail again?
4. When we reach July, what will be the new deadline? 31st December 2023?
Also, Lucja (Mintos) (as the face of Mintos here in the community), I would like to thank you for ruining our Christmas.4
This continues to sound like bullsh*t.
We are all aware that settlement exists and that it can take time, but 3 months?
Can you prove that the total amount in "Pending Payments" due by ID Finance Mexico is somewhere waiting for the "technical issues" with the settlement to be solved to be credited to the investors' accounts?
I don't think so.3
Anything really new? A date? A plan? Nothing. R-I-D-I-C-U-L-O-U-S!
Pending payments from ID Finance Mexico have now reached 80% of "Total current outstanding
investments + total in pending payments". There's no other company above 40%, and this is what we get from Mintos:
We've received the first draft of a plan with a timeline on
repayment for all the pending payments and are now
discussing the details. We will share more on the plan once it
has been agreed with the lending company3
Ha ha. I remember those "technical problems"... :)
This looks like a ponzi scheme3
This is really getting critical. The updates are not satisfactory at all. Pending payments are now 40% of my portfolio...2
So... 20 May becomes late May/ early June....
One month becomes... Six weeks...
I´ll be straight up... Until ID finance repay MX I dont care how good ID finance ES or IDF Kazakstahn are doing.... All three are now on my "I wont touch them" list... ( I have 2,5K IDF Euro, 5K IDF KZT, 1K IDF Rouble, 1,5K ID ES) all because of 0,5K€ ID MX....
...Dont Pay, dont invest....
You promise to pay, I promise to invest... when you pay!!!2
This is absurd... they should be kicked out the marketplace not only downgraded.2
Let's see the big update of today .. Will it be pushed to July now or not yet?
From Mintos, no words about the prolongation of this situation...2
The problem here is that you provide an answer with expectations you don't fulfill.. Initially it was in May, then late May/early June and we are now in the middle of June and I've received ridiculous 2% of the total pending payments amount due by ID Finance Mexico ...2
One more ridiculous update. So they could transfer 950k€ but have issues with daily transfers? How could they do it before to pay investors?
My pending payment amount barely decreased...2
For Mintos, Pending Payments status is a method to hide a potential defaulted loan. For example, I had several loans in Pending Payments status for several months and then they suddenly got moved to 'In Recovery' category. So what they are posting in 'Updates' section this Friday is no longer true next Friday and so on. Remember they said that ID Finance Mexico will make payments in late May / early June and then suddenly something went wrong and they were providing generic updates. I understand that not everything depends on Mintos, but their attitude towards investors is ridiculous. So we can expect that one day the loans will be categorized as 'In Recovery' or ID Finance Mexico will be Defaulted and that's it, Mintos won't take any responsibility. They will keep posting in 'Updates' section something like: 'We tried to find a solution, but blah blah blah..'. No results. It's not a surprise now why the investors are withdrawing their funds out of this platform.
Investors would appreciate transparency and real actions, not promises that are no longer valid next week.2
I am sorry but this sounds like bullsh*t.
By definition, Pending Payments are:
Money that is currently in the process of being credited to your account. The borrower has made a payment, and we’re waiting for the lending company to transfer the money to us. We’ll credit the money to your account as soon as we have it. Pending payments can include both current and finished investments.
If the money was paid by the borrower, why is it directed to anywhere else than paying the investor?2
Read: they took your money, loaned it out, got paid back. Without asking you, they loaned your money out AGAIN and put the claim on Mintos. Since Mintos is quickly falling out of favour, those claims are not filled and they cannot give you your money back. You will also not receive interest on the new loan you never agreed to, since you don't own a claim. Maybe you will receive your money back when that new loan is repaid. Maybe not, they will see what they can get away with.2
Honestly, I'm thinking of starting my own fraudulent lending company without financial discipline and applying to Mintos. Since Mintos refuses to put checks and balances into place, it's probably the easiest way to steal a couple of million. Might be the quickest way to ever see my money back.2
I propose a name for your new loan company "Wowwo 2" I think it would be perfect and it would not raise any suspicions 😜😞2
Is the last update provided by Mintos a recognition that you've been lying to us in the last months?
The issue is not technical anymore? It's incredible how you keep changing your script and due dates for solving the issues without even apologizing to your customers.
I would like to know who is the regulator of Mintos activity so I can file a formal complaint. I've asked for it to the support more than one week ago, but no answer so far.
As soon as I can get my money out of here, I will become a former Mintos customer.
Issues can happen with customers but with this lack of transparency I can't trust Mintos.2
nothing changed, except for more promises and higher 'pending payment interest rate' that we will never see2
What is the problem with pending payments from ID FINANCE MEXICO?
ID FINANACE SPAIN's pending payments are finally going down, but ID FINANCE MEXICO's pending payments haven't gone down for a long time.
Investors need MINTOS pending payments to start falling now, the platform accumulates too many pending payments and investors cannot bear that much.2
Hi Lucja (Mintos),
Two more weeks have passed.
I would like to ask again for a clear statement about the expectation that ID Finance will pay until the end of the year - we are now 5 weeks away from that, and once more, we got a useless update.2
You have been monitoring it since March, but nothing happened since then.2
Does anyone really believe that ID finance is going to send the money???2
Lucja (Mintos) do you believe?2
ID Finance cannot even pay outstanding interest on pending payments like IDF Eurasia. They have not repurchased any loan from me since March 23, 2022 and they owe me interest for the last 9 months. These companies should be suspended or Mintos will have a repeat of Finko Armenia2
In reality Lucja is answering this:
1. in situation like this, we want to keep this big loan company continue. They are making us money. Not you. You are so small that we can do whatever we want and if you leave, nobody cares. Another will come.
2. Higher interest should be same as you can get interest in normal loan, but this not going to happend. We give you crumbs and you should be quiet.
3 and 4. we can do whatever we want cos we already have your money. So wait until we give you what is yours.
We now that you will not understand, but we want to make money with this ID Finance company at first not whith you.2
In the same situation.
They promise a full recovery today... Wait and see...1
Here is the update... just pushing it to June (for now).
ID Finance Mexico continued making payments this week and €150k were paid. Pending payment interest will be paid in full on the pending amounts. The company will accelerate the payment schedule after it finalizes onboarding new investors - the funds will be received in late May/early June. The proceeds will go directly into settling pending payments in ID Finance Mexico.1
I would like to hear an official statement. Real news not some bs from "Pending payments updates". Doing this way Mintos is losing credibility.1
Again no information...
Just a timing that ID will reconduct over and over without any limit...1
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