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GetBucks Zambia loans bad debt?


3 opmerkingen

  • Lucja (Mintos)
    Community moderator

    Hi Kamill Ariston Chudoba, thank you for your question.

    In cases where all viable avenues for the recovery of overdue funds from a lending company have been thoroughly explored without success, the standard protocol is to categorize these unrecoverable funds as bad debt. This classification is undertaken when it becomes clear that the prospects of future recoveries are negligible or non-existent. Upon reaching this determination, it is our practice to transparently communicate this status as bad debt to the concerned investors, ensuring they are fully apprised of the situation regarding their investments.

  • Kamill Ariston Chudoba

    Thank you for the clarification.
    ... sounds like that is what's the case with GetBucks Zambia.
    If not, which of these points you mentioned isn't being met? And what is Mintoses plan to move foward with Get Bucks Zambia?

  • Marek (Mintos)

    Hello Kamill Ariston Chudoba, thank you for your question.

    As my colleague Lucja has mentioned, in case we that we conclude that there is no further expectation of recovery of the funds, we classify such overdue funds as bad debt.

    Please note that while we strive to be as transparent as possible, there are certain limitations when it comes to sharing each and every detail of our recovery attempts, as it may jeopardize the recovery process as such. I can however assure you that we are acting in the best interest for our investors.

    As soon as there is a breakthrough, we will inform the affected investors accordingly.



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