Overdue investments
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Mintos could you refer me why the situation is still difficult? I haven't any income from several months.
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And why you doesn't take responsibility for this overdue loans and what about your buyback guarantees?
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Dear Damian,
Thank you for reaching out to us. We have provided detailed information on buyback obligation in the following article: https://help.mintos.com/hc/en-us/articles/115002852689-What-is-a-buyback-obligation-and-how-does-it-work-for-investments-in-loans-by-means-of-assignment-agreements-. We hope you find it helpful.
For any updates regarding overdue cases, you can simply click on the status, and it will redirect you to the information related to the specific lending company. This way, you can stay informed about the progress.
We understand that the situation regarding recovering funds from lending companies in Russia may be of concern to you. To address this, we have published a blog post that provides an update on the impact of the Russia-Ukraine war, including the SWIFT ban, the plunge of the Russian ruble, and the pausing of listing new loans from Belarus, among other relevant information. You can find this blog post here: https://www.mintos.com/blog/russia-ukraine-war-impact-update-swift-ban-rub-plunge-pausing-listing-new-loans-from-belarus-and-more/. We hope this helps you gain a better understanding of the current situation.
If you have any specific questions or require further assistance regarding your investments, please feel free to contact us directly using this form: https://help.mintos.com/hc/en-us/requests/new. Our team will be glad to assist you promptly.
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I know all your materials and blog very well. However, your work in collecting the debt from Russia is not satisfactory. It's been 1.5 years since the war broke out and I've recovered maybe 10% of all Russian debts. From this point of view, I do not recommend mintos and you clearly show customers that you are not worth trusting and working with. I am asking for increased work in the field of debt collection, otherwise I will publish my disapproval and claims against your company in all media.It is regrettable to treat a client who has been with you since 2017 in this way.3 -
They dont do anything. Latvia isnt friendly country for investors. Why are they provoke Russia ????? Be quiet and give us our money back
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@Lucja, you did not answear.
Tell us, what did you say earlier?
The Kviku concession is more important than our money. Keep it up. Hope to see you in court.
Did you know, Mr Putin wants nationalize funds from unfriendly countries? Did mintos try talk to UE parliament?2 -
Mintos give back all overdue funds that have been blocked for over a year (almost 1.5 years in my case). Otherwise, we will shout wherever we can - we will make you such an advertisement that no one will want to use your services. Worst case scenario, it will end up in court. How long do we have to wait for outstanding funds?
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@Damian Wójcik,
Myślę, że bez sądu się nie obejdzie.
Wszyscy inwestorzy powinni walczyć o odszkodowanie od Mintos za wprowadzanie w błąd, błędy administarcyjne i słabą ochronę inwestorów.I see one solution, end up in court.
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We understand the concerns regarding the challenges we have faced due to the Russian invasion of Ukraine and the impact it has had on our cooperation with Russian lending companies.
The ongoing conflict and the resulting sanctions and payment limitations imposed by Russia and the European Union have made it difficult for us to retrieve investors' funds. Despite these external limitations, we have made significant progress in finding potential solutions. We have engaged in discussions with all Russian lending companies to explore ways for them to make repayments while complying with the imposed limitations.
It is important to note that the reputation of the individuals involved in our business plays a crucial role, particularly in industries that rely on external funding or have operations outside their home country. Until winter 2022, we observed that most companies engaged in the discussion in good faith and with the intention to resolve the situation. As a result, agreements have been reached with all Russian lending companies, except for one, and payments have either been made or are currently being processed by the banks.
However, we acknowledge the specific concerns raised about Kviku. They unilaterally converted all EUR debt to RUB, combined it with existing RUB debt from investments made outside our Forward Flow setup, and further converted it into an interest-free bond in RUB with a principal repayment scheduled for the end of 2026. Our preliminary analysis conducted by our legal team suggests that neither the method of conversion nor the amounts converted align with the existing legislative acts. We do not accept this unilateral conversion by Kviku.
We want to assure you that we take this matter seriously, and we have involved consultants to take necessary actions to recover all due amounts. We are actively working towards resolving this issue and will provide updates as soon as we have any news to share. Thank you for your patience and understanding as we navigate these challenging circumstances.
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I have a solution for you through your reputation - please buy back the debt and return the funds to investors, otherwise your reputation will fall apart like a house of cards. This is the only solution - the other impact will spread all over the internet. As an example, I give you my wallet - for 1 month I didn't get even 1 euro refund .. it's some kind of mockery.
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I suggest you write a review for Mintos in TrustPilot.
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Damian Wójcik
Thank you for sharing your concerns as an investor. We value our relationship with you and take your feedback seriously. It is important to acknowledge that all investments carry inherent risks, and we have always emphasized this to our investors. While we strive for the best returns, market fluctuations and unforeseen circumstances can impact investments. We recognize the challenges we've faced recently and are actively working to address them and recover the funds. However, executing a buyback of debt and returning funds to investors is a complex process that requires careful evaluation and compliance with regulatory guidelines. As a marketplace platform, we don't directly participate in the investments offered, unlike lending companies. Our main income comes from commissions when lending companies fund loans through Mintos. When investors cannot reinvest their funds, it affects our business too.
Rest assured, we are fully committed to finding a resolution and appreciate your understanding and patience. Our priority is to resolve this matter as quickly as possible.-2 -
Community mordrator isnt on forum for 5 days in row......... Kudos 2 Mintos.
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