No more money until
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Everybody should start taking out their money. It is getting worse and worse.
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Agreed. This is getting ridiculous. According to Mintos itself, over 18% of its portfolio is currently in recovery. As P2P Empire points out, 'non-performing loans can impact your liquidity and returns on Mintos, as the platform must first recover the debt before you can withdraw or reinvest your funds.' This is not to mention the over €130M in unresolved defaults from failed loan originators.
The list keeps growing, and they are now adding nonsensical 'litigation' tags to originators that simply cannot be held liable under the law. This is just window dressing to buy time. And that is precisely the case with Kviku and Woowo, who simply ran away with our money, while Mintos refuses to step up and assume its own responsibilities. Mintos itself should be accountable, if only because it should have vetted and guaranteed the financial health of the originators it welcomed into the platform in the first place. Where we, simple private users, to monitor the financial health of the loan originators, and their portfolio performance?
This will also be the case with Nera Capital, and I have a feeling ID Finance is going to follow very soon. The efficiency in processing refunds has plummeted in the last two weeks; I would even say the vast majority of them are only processed once the loans become more than 60 days past due. This is a clear symptom of a deeper issue.
As for me, I am cutting my losses and getting out right now. I will take whatever I can, with zero expectations of recovering my total investment here—let alone the earnings, which I expect will drop to zero, given how absurd the Nera Capital situation has become.1 -
I don't mean to offend you, but perhaps you should take responsibility for your decisions. Of all the loans issued on Mintos, there are problems with 1%. These are almost exclusively loans from "exotic" countries or countries affected by the war in Ukraine. If you invest in loan originators who have been on Mintos for a few years and have weathered the Covid and the war, you haven't lost ANYTHING. But of course, those originators pay 10% or 11%. If you're looking for 14% or 15%, be prepared to face the consequences.0 -
Hi Javier.
I can tell you know what you are talking about. Exotic countries? War in Ukraine? Are you talking about Nera Capital, from the exotic country of Ireland? Are you talking about the war in Ukraine that's affecting Spain's ID Finance? Are you talking about exotic countries like the UK or Poland, or Romania, or Mexico? Was there war raging in Turkey, or Indonesia?
In your opinion, which less-than-exotic countries are we to invest exclusively, to be perfectly safe?
Again: Mintos is the sole responsible for letting these loan originators in, and is solely responsible for ensuring that loan originators meet the minimum legal and financial health requirements to operate on their platform.
It's not a question of interest alone. It's a question of keeping our money safe.
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I see you've "conveniently" forgotten the part where I say, "If you invest in loan originators who have been on Mintos for a few years." In any case: ID Finance didn't default on anything, as far as I know. There were delays. Nera Capital, for the moment, can't be considered in default; there are delays. And if you don't understand that neither Mintos nor anyone else could have foreseen the SRA investigation, that's your problem. What track record did Nera have when you invested in that originator? And this "which countries should we invest in to be sure"... to be sure, don't invest. Nobody has promised you anything or guaranteed you anything. Until you understand that, you'll keep losing money. Ask yourself this question... how much money would you have lost if you had invested in European countries and small amounts abroad with originators with at least 3 or 4 years of track record? Answer: You wouldn't have lost ANYTHING. But if you prefer to invest in new loan originators because they pay more and offer bonuses, accept the risk and the consequences and stop blaming others. Don't take my word for it, see for yourself. Look at the P2P Dash database. Over the last 12 years, the average return has been over 11% each year, except for 2022, which was 8%. When you look at it, ask yourself, "Why is everyone else making money and my portfolio is full of defaults?"
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Thomas.
Concordo assolutamente. Siamo in guai purtroppo.0 -
Ugo
Mi associo a tutti i colpiti dal disastro Nera Capital. Io sono uno dei peggiori! Non mi aspettavo assolutamente finire in questa situazione drammatica sulla piattaforma Mintos, decantata come la migliore tra le piattaforme P2P per regolamentazioni ed efficienza. Anche i bond EDS sono in default e ci sono dentro incastrato con tutto il patrimonio!!0 -
I am active in different financial communities and always come across individuals like Javier that know the right wisdom 'afterwards'. Usually tendentious and ignorant. Nera was presented as a very safe investment with a perfect trackrecord and a 7.6 Mintos risk Score. Planet 42 has lots of notes with 10-11 % interest but in default. Don't know others but i m sure not only loans in obscure countries against 14+ interest default. Even so Creditstar with loans up to 17.5 % has so far been one of the most reliable repayers. So stop the crapp unless you have something constructive to mention.
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Hi UGO. I don't think you've even read my message properly, nor your own. I said that by investing in loan originators that have been around for at least a few years, and preferably European, you haven't lost anything on Mintos. And you're talking about: Planet 42, which wasn't even European and wasn't even active for two years. And you're talking about Credistar, when Credistar has been on Mintos since 2016! Do you understand why you shouldn't invest in one and you should in the other? And finally, to say that Nera was presented as a VERY SAFE investment... I don't know where you're coming from, but if you think there are very safe investments with interest rates up to 17%, you don't know what you're talking about. But it's simpler. Keep investing the way you are, forget all caution, and everyone will be happy.0 -
Planet 42 is/was financed through an Estonian investment fund Inclusion OÜ. European. No problem as long as YOU are right!
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