ID Finance Spain: Filing Collective Claim to Mintos or ID Finance Spain
Dear Happy Mintos Users,
It is with great concern, and frustration, that I see how Mintos, and its selected LO partners, are not fulfilling their payments obligations.
Mintos deliberately modifies the T&C over and over again to implement favorable conditions for them, e.g. the potential 6-time loan extension.
I see with impotence how we lose all type of control over the cash-flow of our investments, and in last instance, over our own money.
In the last chapter of this horror story, Mintos has agreed with ID Finance (Spain and Mexico) to give them (again) an extension till December 31st, 2022, in order to honor this payments. All this while making decisions over our money, a decision on which we had no saying.
Like many of you, I also have since months a substantial amount as "Pending Payments", attributable to ID Finance.
I think it is time to make the LO and Mintos to fulfill their obligations. The LO has rescheduled their bonds for 2 additional years with its creditors, so it has more than enough funds to honor their duties.
Moreover, we are not asking for a loan or a payment: we are asking to receive the money that debtors have already paid to ID Finance (i.e. they have the funds), and to ID Finance to fulfill the buyback compromise, when needed.
I propose to you organize ourselves, and if money is not received by end of 2022, hire a lawyer, and sue Mintos and or ID Finance. Otherwise, we will continue being played endlessly.
I would like also to bring to your attention that, even when in February 2022 ID Finance was already not paying loans (here), Mintos encouraged the investment in this company with a cashback campaign (here). This is not an ethical behaviour, and we cannot assume good faith on Mintos anymore.
Wishing all of us can recover our hard-earned funds,
Very good initiative. I am also tired of this but at this point in time I will wait until the end of the year to see if they fulfill, at least once, what they state.
From Mintos, I would ask again a clear statement about the expectation that ID Finance will pay until the end of the year - we are now 5 weeks away, and once more, we got a useless update.2
Again, delay after delay, broken commitment after broken commitment.
We are 1 week away from closing the year, and the vast majority of ID Finance Spain pending payments are still unpaid. Relying on these guys is useless. Who is going to suffer under the rubber once the pyramid falls?
Join the Mintos P2P Victims Group Telegram group to coordinate a demand against Mintos:2
Join the Mintos P2P Victims Group Telegram Channel. Internet webpage coming soon!1
Mintos is going to communicate this week how ID finance plans to pay.
ID finance in spain seems to not be in default, so everything that differs from paying everything now is not acceptable. From 1/1/23 we should start the process for the Collective claim.1
They will announce this week the payment plan.
However, I'm afraid that if there is a plan to announce, it probably means that they won't fulfill again the 31-12-2022 deadline.
If that happens, I will definitely join this group, and above all I think Mintos should be held responsible for all of this, as much as the lending companies.1
After this last update, I guess we have no option to move forward with this. I suggest, before envolving a lawyer, to file a formal complaint in the beginning of January to Mintos' new regulator - Bank of Latvia.1
Aren´t you kind of sign that your money is "at danger" and all this stuff? Well if you lose it... you lose it.
I wonder how much %age of your investments are in pending payments... for me between 3-4%, sometimes some money drips in and lowers it and then it gets back up a little again - yet it´s solid and totally okay. Till now I didn´t lose any money at all.
Don´t get me wrong - it is about our money, fully getting this. I don´t like losing money I earned with my time either - I mean, who does? :D
Yes, I believe there will be a solution found that won´t leave us on default and that is the most important, imo. Getting money slow back is better than getting way less till no money back at all.
Actually I don´t feel played or anything. Yes, they did make this cashback campaign - I did get a good amount of cashback and actually nearly all my money back, just a bit of it is stuck in the pending payments.
Those capaigns have a reason... they´re not there to give you cashback.
Do we really want to lose money? I actually don´t.
It´s frustrating no matter how much money you have in pending payments1
For me ID Finance & Mintos are looking more to be like Ponzi scheme. Cashback money bla bla and they still own money to real investors.1
I've also received a tiny portion (~3%) from ID Finance Mexico, but with no "Pending Payment" interest.
Lucja (Mintos), can you explain when will we receive the "Pending Payment" interest? I hope this is not "forgotten".1
Lucja (Mintos) ?1
Thank you for your question.
Pending payments interest will be paid at the end of the repayment schedule.1
Thanks Lucja for a specific answer to the question. The question is whether ID Finance and IDF Eurasia will be able to cover their debt for the last 9 months when the next deadline agreed with Mintos passes. Probably , like most investors , I also thought that these LOs would pay outstanding interest every month so as not to increase their debt1
Lucja (Mintos), I hope that payments made outside the repayment schedule are not "forgotten".1
as everyone here, my IDF loans stuck in pending payments for months. We also received emails regarding new repayment scheme. Im in IDF Mexico so repayments are planned for the end of July, but I want to share that recently I, somehow, recovered 9% of my pending payments...0
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