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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Fellow investors hit by the Nera Capital and EDS default. Here’s the email address of the Bank of Latvia to report complaints and irregularities: info@bank.lv
Latvijas Banka
via K. Valdemara 2A, Riga, LV-1050
telefono: 67022300
e-mail: info@bank.lv
bank.lvCentro
per la Protezione dei Diritti dei Consumatori via Brivibas 55, Riga, LV-1010
telefono: 65452554
e-mail: ptac@ptac.gov.lv
ptac.gov.lvAssociazione Finanza Lettone Ombudsman Centro
Commerciale "VERDE" via Roberta Hirša 1, Riga, LV-1045
telefono: +371 287 18175
e-mail: ombuds@financelatvia.eu
financelatvia.eu/ombuds1 -
Agli investitori colpiti dal default di Nera Capital e EDS. Ecco l'indirizzo email della Banca di Lettonia per segnalare reclami e irregolarità: info@bank.lv
Latvijas Banka
via K. Valdemara 2A, Riga, LV-1050
telefono: 67022300
e-mail: info@bank.lv
bank.lvCentro
per la Protezione dei Diritti dei Consumatori via Brivibas 55, Riga, LV-1010
telefono: 65452554
e-mail: ptac@ptac.gov.lv
ptac.gov.lvAssociazione Finanza Lettone Ombudsman Centro
Commerciale "VERDE" via Roberta Hirša 1, Riga, LV-1045
telefono: +371 287 18175
e-mail: ombuds@financelatvia.eu
financelatvia.eu/ombuds1 -
From my perspective I feel that we can be discussing a lot as investors about transparency and things that can be improved. I agree that the contracts that Mintos has drawn by not letting Nera Capital provide Full Parental Liability and not let the company co-sign could have been improved.
But nonetheless, to be frankly honest we all know that this is the risk of the game. I read that investors have been complaining for months, but you could have taken a loss of -10 to -30% months ago and have been re-investing your money from my perspective. That is also what I did.
And yes, I occurred a write-off of approximately 28% on my outstanding with Nera at the time being, but I do not need to worry about this case anymore.
Of course, Mintos can improve transparency on the contracts here since it was not clear from the start that the main Nera Capital Entity was not co-signing the credit agreement with Mintos(at least for me at the start). But in general I do not see why we are expecting to see a beneficial outcome from filing complaints with the Latvian Bank. Still what I would expect is that it is best to let Mintos focus on their core job to recover our money. Potentially mistakes are made in drawing up the contracts, but the problem is also primarily with the behavior of the Creditor I feel. Even if the Nera Capital Main entity would have been signing for liability, they could have started up a new Holding Entity to start conducting new financing activities with and simply not care about the activities of the first holding.
For me, what I have learnt primarily is to not do any business with Companies in Legal and start-ups in general, because they will always find ways to screw you over financially. Furthermore I also read complaints about how MFO fintechfinance is being handled, but from my perspective if you would have been monitoring your investments at Mintos appropriately you could have avoided this. I personally sold my MFO fintechfinance investments long ago and the part which was outstanding has long been re-paid, since I decided to stop investing at the moment that the rest of the group entities was covering for MFO fintechfinance.
From my perspective, if you are in a space of high risk investments you should at least put some effort into monitoring your portfolio and the portfolio decisions you take. Just pointing fingers to the platform offering investments from my perspective is also a bit too easy and everyone to some extent should also take responsibility for the management they do within their own credit portfolio. You know that these loans carry high risk in case of default, etc. So you should manage that risk actively.
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@ Wilhelmus, Afterwards it is always easy to talk. Secondly it will cost you two years of investment against 14% to end up zero. If that is your action, better put it on a deposito then you have 3% per year. Thirdly , I did not buy any MFOfinance after October last year but did not sell as Mintos constantly was active to arrange the repayment plan. My exposure btw is only a limited residue . But I try to look a bit beyond my own interest. These P2P platforms have come up in a move to democrate the money market which before was in the hands of the richy few. Never thought it would be abused as a way of exploiting individuals. Mintos’ management is guilty of this but claims the opposite in all of her communication.
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Hello Marek (Mintos),
Will we have an update on Nera this week ? Can we have some hints almost 3weeks since last updates
would be great to hear some news if any ?
Thks
Cyril0 -
Dear Cyril,
Yes, a new update has been published a while ago.
Regards,
Mintos Team
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Hello Marek (Mintos),
Something strange here.... When I ask you for this week your answered me the 13/07 that a news should appear for the end of the week
I ask again today and indeed a news come today but why the news is posted today with a date of 13th ? I checked several time everyday. and I guarantee the news comes only today with wrong date ?
Why is that ?
Anyways thanks for the update seems positive I hope
Cyril F0 -
Dear Cyril,
Thanks for flagging this, the date has been fixed in the meantime.
Regards,
Mintos team
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Financially dead."
For months now, 99% of my portfolio on Mintos has been frozen in Nera Capital and Easy Debt Service bonds—both in default. I’m receiving no income, I can’t withdraw anything, and I don’t know if I’ve lost the money—around €100,000. As we know, updates from Mintos are uncertain, repetitive, and offer no resolution. The fault isn't entirely mine, as some have claimed. I don't want to get into the details of that again! Friends, allow me, however, to consider myself a "victim of finance." I accept your condolences.0 -
Hello Peter,
Sorry to hear that but still pretty optimistic on nera myself.
Anyway putting a significant portion of your wealth in anny asset isn't a great idea...
I hope 100k€ doesn't represent a big part for you. But mintos or every regulated bank warn you to diversify and present you the risk....0 -
Hi Cyril,
Just don't bother answering to Peter. He comes here every few days and whines about his losses. Big news for you Peter - nobody cares. You can stop repeating the same thing every few days. Everybody already knows about your 100k. You should stick to keeping your money in the bank or under the mattress and just quit all other types of activities as you are for sure not competent to participate.
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Cyril
Thanks for the support. Let's hope the outlook is as optimistic as you say. To specify my current exposure:
€74,000 in Nera and
€18,000 in EDS bonds.
As for the rest, I’ve allocated half my capital in Italy to savings accounts—averaging a 2.7% gross return—and the other half to foreign platforms like Mintos, Bondora (a significant amount), Viainvest, Twino, Nectaro, Lendermarket, Debitum Investments, and Maclear.
Mintos is the only one where I’m experiencing these issues. As for Sreben Sabev's insulting and malicious comment, I wish him the best of luck with his multi-million-euro investments.0 -
Ok that's a good start so now inside those platforms try to diversify as much has you can. You have more than 20 lenders. it could be better to split accross them thant only two don't you think ?
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Cyril,
Absolutely right. That’s exactly what I’m doing. I’ve also set up Auto-invest; I think it helps with diversification. My only mistake was with Mintos. It was my very first P2P experience, and I learned a hard lesson. But when Nera on platform Mintos offers returns of up to 17%—plus cashback of 3–5%, if you recall—a beginner like me unfortunately took the bait! As for EDS, it seems the sale of the collateral is nearing completion so investors can be repaid. We’ll have to wait and see. Thanks again
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