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ID Finance Mexico

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45 comments

  • Bruno Ribeiro

    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
  • Bruno Ribeiro

    New update!!!!  

    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 company

    2
  • Alen

    Ha ha. I remember those "technical problems"... :)

    This looks like a ponzi scheme 

    2
  • DW

    nothing changed, except for more promises and higher 'pending payment interest rate' that we will never see

    2
  • Fjvera

    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
  • Bruno Ribeiro

    This is really getting critical. The updates are not satisfactory at all. Pending payments are now 40% of my portfolio...

    1
  • VINCENT MERLINO

    In the same situation. 
    They promise a full recovery today... Wait and see...

    1
  • Angus

    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!!!

    1
  • Alen

    This is absurd... they should be kicked out the marketplace not only downgraded.

    1
  • Bruno Ribeiro

    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...

    1
  • Bruno Ribeiro

    Dear @...,

    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 ...

     

    1
  • Bruno Ribeiro

    Hi @...,

    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...

    1
  • Dan

    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.

    1
  • DW

    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. 

    1
  • DW

    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.

    1
  • MMM

    @DW
    I propose a name for your new loan company "Wowwo 2" I think it would be perfect and it would not raise any suspicions 😜😞

    1
  • Bruno Ribeiro

    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.

    1
  • Bruno Ribeiro

    Dear @...,

    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.

    1
  • Bruno Ribeiro

    Mintos doesn't even care. New date is now December 2022.

    They sent the same "solution", with the exact same text for ID Finance and Creditstar, changing only the amounts....

    1
  • T Laamanen

    Have people received interest for pending payments from ID Finance Mexico recently? Last time I received was in June, I think I have had pending payments from them all the time since, currently over 20 000 €.

    1
  • Bruno Ribeiro

    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. 

     

    0
  • Alen

    I would like to hear an official statement. Real news not some bs from "Pending payments updates". Doing this way Mintos is losing credibility.

    0
  • VINCENT MERLINO

    Again no information...

    Just a timing that ID will reconduct over and over without any limit...

    0
  • Edwin

    They are indeed paying back. I can see that in what I get back. Problem I see in the reports is as for multiple companies now, is they are not paying back the amount they should. If every month you see in the reports they payback 150000 and still it increases, then they should have payed back not 150000 but 250000 clearly. So what's the reason the company can't or won't payback the amount that is needed for that week. And also why does mintos let it drag on for so long without consequences. At least I would say a downgrade to 6 or 5 as they clearly have problems with payback

    0
  • MMM

    next week ...... in the next few days...... next month ..... at the end of May ...... In June in July in September in December
    We are tired of always reading the same answers. We want solutions now

     

     

     

     

    0
  • Annija (Mintos)
    Community manager

    Please see the latest update here: https://www.mintos.com/blog/wp-content/uploads/2022/05/Pending-Payments-report_2022_27_05.pdf

     

    First a significant drop in funding volumes from Mintos due to the geopolitical events and then the short-term nature of the product caused pending payments which accumulation of ID Finance Mexico's pending payments during the last few months. Although the lending company's business generates profits and client
    portfolio quality has not been deteriorated, significant repayment volumes were not previously planned by the company. Due to those unexpected developments, now it takes some time to refinance the pending volumes with the help of the external funding.


    Further decrease in the company's business volumes would only endanger business operations. ID Finance Mexico believes that keeping operations at the current profitable level is also the best option for investors, while the pending payments will be repaid in full through regular payments and refinancing.


    Mintos and ID Finance Mexico have concluded the new pending payment repayment schedule. It will include daily payments: during June - €30 000 on Monday, Tuesday and Thursday, €50 000 on Wednesday and Friday: refinancing from the external funds ($1.3 million in early June and $2 million in late August. Also, any
    additional external funding that ID Finance Mexico or the Group might attract will be directed towards the pending payments. To avoid a similar situation in the future, it was agreed that Mintos will work towards setting up ID Finance Mexico in a new structure that would include Forward Flow and Trust security as of Q3 2022. Until then, ID Finance Mexico will not place new loans on Mintos, and all available loans will be removed from the platform. Investors will receive full principal, interest, and interest on pending payments.

    0
  • Bruno Ribeiro

    We can also check the updates you provide in the respective page, but what we would really appreciate would be the decrease in the pending amounts.

    I've set 50% of my portfolio value not to be invested ~1 month ago and I was able to withdraw only ~10% of that as the pending payments kept increasing in the last months - main slice from ID Finance Mexico. The pending payment interest is also questionable. 

    When will we really see our money?

    0
  • Pilar

    Llevais semanas poniendo lo mismo en los reportes, y los montos pendientes siguen y siguen aumentando. Desde luego credibilidad os queda ya poca.

    0
  • VINCENT MERLINO

    From my side the pending payment decrease. 
    It's an improvment regarding the last weeks. Hope it will continue and go to zero

    0
  • Pilar

    Meses llevo yo sin recibir un solo céntimo, ya está bien de tanta tomadura de pelo.

    0

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