Pending Payments and In Recovery Funds - constant problems, need solutions
The sum of pending payments is permanently very big in my Investor's portofolio, it is 7-11 % of all my funds. These funds are not working, could not be used, they are congelated in Mintos sistem. In the same time in Recovery is always 9-11 % (the bigest part is in Wowwo loans).
That's why instead of 13-18% interests from investments in loans on Mintos platform, the real profitability is only 8-10%, unfortunetly.
Dear Mintos team, I and all investors, for sure, we need solutions from You, we are waiting for better managements and practices.
My pending payments are currently 30%
My funds in recovery are currently 27%1
11% and 11% here. I don't like it but i think it's part of investing in loans.1
ha, everything looks like a ponzi scheme - CreditStar/IDF Eurasia/ Express Credit/ID Finance - no money to cover obligations but Mintos saying that there is no deterioration in the underlying portfolio and no capability to attract new loands because they need to migrate to "Notes". this sounds like a confession that the only way to cover obligations to investors is to .... use money from new investors ( definition for a ponzi ). and we are waiting to get our money back, haha . my favourite case is ID Finance SPain , a company that even had a cashback campaign recently, it has money for cashback but cannot cover loans that are paid off ( in EUR, in Spain ??!?!?! ) and it's the same group ID Finance Mexico where obviously we're going to lose everything - I am speechless...1
Idk guys, my pending payments go smoothly down finally with the switch to notes (I go for mostly short credits like 1 month or 2, figured this works a lot better, for me at least, maybe someone made similiar experiences).0
last Friday we published a more detailed Pending payments update.
Please find it here: https://www.mintos.com/en/pending-payments-updates/-3
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