Nera Capital!!
What is happening with Nera Capital loans?. All contracts tell only interest payments till expiration. But today NC started principal repayment of all loans running for 3 months or less and also some 17% interest loans still running for 8 months. Are there no secured agreements between Mintos and Credittors? Seems like it and an ongoing issue creating most of the loan problems?
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There is little new information in the latest update. And there is a vague statement regarding interest payments. If interest has been accrued as normal for the final days of March, April and May up to and including 27 May, why can’t this be done in June for the notes that are still running? It’s not that difficult to answer, but the refusal to address this issue only serves to heighten mistrust. That’s pretty much mistake number one in communication.
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Personally I stopped reinvesting and I withdraw regularly and put the money in a deposit account which pays 3%/year. Not only because of Mintos, but because of the nutter in the white house.
Global economies are heading towards recession, interest rates will shoot up, all bad news for investments like Mintos & Co.
I consider Nera and Planet42 as total losses. Hopefully it stops there and I still get out with a 5% gain.
Planet42 I've little hopes to see anything besides what has repaid until February.Nera hopefully will sort out with time
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Zena,
absolutely agreeable. I started my P2P experience with Mintos, the first platform I could use to withdraw my savings from the banks in my country, which were offering me a ridiculous 2% on 3- to 5-year term accounts,
and that's here I got the worst of it. I have € 75,000 on Nera, I fell for it, who knows what I'll see again. A great lesson. I won't be concentrating my money on just one person anymore. But I'm very disappointed and bitter, and I have to lick my wounds. Consider that I'm also stuck with the defaulted EDS bonds. Goodnight, Zena, goodnight, investor friends, and good luck to everyone. Until the next episode of the soap opera.0 -
Marek (Mintos)
One question not clear for me, if nera is going well.
Will the buyback guarantee apply ? I understand law firm don"t pay wich is a problem but if nera doesn't apply buyback that's an other violation of agreement it seems to me.
So can you tell us ?0 -
Cirillo,
Dear Cirillo, and here's the crux of the matter, in my opinion! If they repaid the capital,.all of us savers involved would be in for a treat. But as far as I understand, there's no money. I'm already past due with €49,725, late, in the first fortnight, and it represents 66% of my total. What do you think? You've been optimistic so far, and I hope it ends this way. But my personal opinion is that not even Mintos would have expected such a default. The collateral is the lawsuits filed by the law firms that blocked payment to Nera, and if they fail, we'll be watching the money through binoculars because not even the insurance company will respond. Correct me if I'm wrong! It's a major systemic risk based on a very risky business model, and the unthinkable has happened! What other collateral can Mintos rely on? Perhaps the agreements in these cases should be more stringent to better protect investors! In my opinion, if Mintos doesn't resolve this issue as best as possible, it will suffer significant reputational damage. If it does resolve it, however, it will truly demonstrate its leadership, number one in the lending market. We will regain great trust!
That's all. I'd appreciate your response. Thanks. Bye.0 -
Hello,
I am still very optimistic on this case yes.
First If nera manage to pay without any problem for such a long period there is no reason money wasn't coming.
Secondly Nera is not only base in uk but is mor diversified so nera maybe can start to pay it's loss from other country maybe that's my question. While nera doesn't fill for liquidation nera must pay even if paying mean going to liquidation...
That's my point no problem to loose money but if I loose money Nera should go bankrupt first and then I will accept to loose money
@Marek can you clarify this point
And thirdly buyback apply only +60days after default wich mean it should start only now...
Finaly Dear Pierre Joseph Vitetta, I don't care you loose 50k€ or any amount ! The REAL PROBLEM IS that you don't diversify and do all in. If you had diversified and 50k€ represent only 5% of you total portolio you shouldn't be worried that much
I have also invest several thousand € in nera and don't cry like you0 -
Dear Cyril,
I have so far simply engaged in polite and respectful dialogue because I believe this is the purpose of the community, to exchange ideas and opinions, but you, for the umpteenth time, address me in an offensive and disrespectful tone towards me. It is the third time, I believe, and I have pretended nothing has happened until now, but now enough with the insults. I will no longer respond to the dialogue, and I know you will care little, but I think I will ask the moderator to block you.
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Dear Pietro Giuseppe Vitetta,
I ask a legit question to marek. And you answer with supposition....
I have no supposition just a legit question. And again the amount you invest has no importance on that topic !
I note that you use english and enjoy that.
The only part I agree is that mintos doesn't seems pro active or too kind with loan originator.
At least they seems to hide their action maybe for good reason but really frustrating.
I also note mintos try to improve their communication process so Yeah has a crowdcube investor too I still nevertheless believe in mintos and continue to put money on it.
I try to be factual that's it.
Sorry for that i will only now react to official mintos
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I appreciate the response, I believe that the contrast is perhaps due to different character structures and environmental upbringing inherent in the places and countries where each of us lives; this sometimes does not allow us to fully understand the meaning of the discourse, the paradoxes, the irony, or the real tone of the discussion! I think this too. It is understandable in any case. I agree that Mintos is improving in communication. Perhaps it is under a lot of pressure from us investors. I will also follow this approach for the subsequent posts. Regards
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Dear Investors, a reminder that everyone here is dealing with real money and real decisions. Disagreements on strategy are welcome - that's what makes this community useful. Let's keep the tone constructive, especially when someone is sharing a difficult situation.
On the diversification point itself: it's a fair and important one. Spreading exposure across assets and lenders is a core risk management principle - worth revisiting for anyone building or adjusting their portfolio.
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I don't think it's very helpful to point fingers at each other during this crisis. The only party to hold accountable here is Mintos.
@Cyrill It makes little sense to ask the moderators questions about NC. That’s rather naive. They are marketing communicators, instructed to present the company in the best possible light and answer simple questions from beginners. If I ask my account manager a simple question, I get an answer; if I ask a critical or confrontational question, I never get a response. Risk mitigation only goes one way: toward the company and management—that’s what they’re paid for. Cyrill, I believe you also own shares in Mintos and may want to view things more positively than the current situation asks for.The fact is that, following Alivio Capital, Planet 42, MFOfinance(see my last comment), and Nera Capital, Mintos is sitting on the sidelines and isn’t even managing to keep track of the debts, thereby creating a smokescreen over the current situation. For example, you cannot record unpaid interest as paid. You cannot add 3 months of interest to one series and only 2 to another because it is expiring. The series with interest date 20 that expired in May is listed as overdue but has one-third of each note listed as running outstanding principal and two-thirds as pending. But the entire notes have matured?
The series with interest dates of 3, 5, and 6 that have expired in June, on the other hand, are not immediately listed under overdue payments and are missing their final month’s interest. These are simply hard facts that make no sense and are not explained (of course I asked my acc. manager first). Because apparently, they have no answer to their own algorithme or don’t feel like explaining it properly. Or to prevent you from later knowing what amounts you’re contractually entitled to. Mintos is in this way creating their own bubble of mistrust.0 -
Ugo,
if you're sure, don't limit yourself to the community. File a formal complaint like I did and wait for a response. Make your reasons official! They would also be the reasons of others.0
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