ID Finance Mexico
Hi
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.
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No.
Lucja (Mintos) do you believe?
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Alen,
MINTOS reached a great agreement with IDFinance:
"The outstanding pending payments have to be covered by 31 Dec 2022 at the latest"On December 31st I will be looking at my MINTOS account at 11:59 pm to see how my funds go up!!!
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Of course they won't...
We make alert long time ago about this issue but Mintos doesn't care ...
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Question here is that Mintos as to take full responsibility and pay us what ID Finance owes, for two reasons:
1. - Initially they claimed there was a technical issue, and our money was reinvested when it shouldn't - Mintos as to assume the responsibility for the technical issues.
2. - Instead of taking immediate action to try to recover our funds when ID Finance didn't pay back, Mintos agreed with no consent of the users, to restructure the debt of ID Finance.
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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 Armenia
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It seems that now they promise to share the plan next week, according to the new "Pending Payments update":
Pending payments have not exceeded the
restructured amount. An update about how ID
Finance plans to cover the remaining pending
payments will be shared next week.I hope this is not a new plan, meaning that they will fail the deadline of 31st of December.
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Dear Investors,
Thank you for your questions. We'll share a more detailed update next week.-2 -
Dear Mintos,
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.
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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.
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Now we are loaning our money to company that is not going down, but continue. And we are without benefits , because they literally screw up the positions of small investors. It's weird because that's what those "people" live for...
In our country, there would be a criminal notice for this if the company will continue with this...1 -
You guys cannot be serious - I thought I would give mintos another chance, but you are simply disappointing again and again. You are constantly changing terms one-sided without compensation, absolutely unacceptable.
Stop playing us and get our money back asap. ID apparently is making good business.. on our costs.
Cut the crap: Default them and sue them to death - even if I will not get a dime back. Statue an example. I am sick of mintos.
EDIT: Can mintos please also finally explain why you were lying to us repeatedly - "technical problems"?!
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Dear Investors,
Thank you for your feedback and suggestions.
Answering the questions of Bruno
1. In situations like this, we always look for the best way to enable full exposure recovery and reduce the risk for investors. Agreeing on a schedule of repayments has advantages over pursuing a legal route, since the chances that investors will get their principal plus interest back are higher, and it typically takes less time to recover the funds. In this article, we explain our actions in detail:
https://www.mintos.com/blog/how-we-deal-with-loan-originator-issues-and-recovery-of-investor-funds/2. ID Finance is compensating investors with higher interest, the same as previously.
3 and 4. We understand your concerns, however, at this time, it is impossible to answer these questions. Our goal is to get the best possible results for our investors.
We hope for your understanding.
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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.
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Mintos may also not have enough staff for the litigation. A number of procedures are still pending.
And Mintos really needs money... Maybe they don't have enough money to start the lawsuit.
Unfortunately, far too many new investors can currently be brought to the marketplace. We need some big YouTubers to tell how bad Mintos is. Only since there is currently money for attracting investors again, they prefer to tell how great Mintos is. Simply appalling!
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The saddest part of it is that pendin payments that I'm still waiting more than 6 month is two time double than whole profit that I should get within more than 2 year period...
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