is there any current information on how Creditstar handles loan extensions and paybacks?
My experience so far is that every single 30 day loan gets extended 3 times by 60 days by creditstar and not the borrower itself.
also it seems that creditstar splits the payments over every single loan
i dont think every borrower extends the loan at the same time a few days before buyback and then also pays the exact partial amount (in addition to extension interest)
this basically means that spanish 30 day loans (and i guess polish loans aswell) are basically 270 day loans in every case no matter if the borrower actually paid anything or not
30 days + 3x 60 days + 60 days buyback
while pretty much every pending payment stays pending for at least 9-10 days
after all i dont think its in creditstars interest to have those higher interest loans up for that long of a timeframe instead of maybe buying them back earlier
is this a liquidity problem or what are your thoughts on that?
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