Secondary Market for Claims was closed in a heartbeat!!
This has happened waaayyy too fast.
it is really a super bad decision that the Secondary Market for claims is suddenly closed, and it happened way too fast.
Within 1 month Notes was launched, and Claims secondary market was pushed out.
It all happened way to fast: within 1 month.
This means within 1 month I had to sell all my claims or be stuck with all my claims until they are run out.
I was not expecting this at all. I expect this to have at least 6 or 12 months notice. I like Mintos because I don't have to daily check it. But if they are doing shit like this I get wayyy scared.
Secondary market was always good available. Now all my funds are suddenly locked in!
If this is due to regulations, then the regulator is doing a fucking shit job in protecting the investors. Forgive me the language.
Please ASAP restore the secondary market for claims.
They can't restore the secondary market for claims.
Yet an option to be able to contact other investors to making an private offer or kind of a selling thread that would be then going around Mintos and the regulations.
Yet Mintos wouldn't want this, nor this option exists.
But a kind of private market wouldn't be a bad idea in general.
As example I would transfer you money for the claims you offer me, while you basically still have them in your account, I would get the cash out.
Or by making a private contract, so I'd transfer you the money on your bank account and you transfer the money you get from the claims to me bit by bit.
This would be an solution, but a risky one if the other person doesn't break the contract etc.
Else what would come to my mind... An secondary market for claims (maybe in general, not necessarily just from Mintos) that is done by a different company OR Mintos opening a sub-company selling the claims to this place being a big secondary market/generally going with claims also on primary market.
Like this it would be actually possible, yet I maybe miss a point....
I can't program or anything, else I honestly would enjoy opening a similiar company, starting small as hell in a market that is hard fought :/
I'm sure there are even more ways and possibilities, that are just not gone.1
Good ideas Fabian Simon Walter, but also very difficult.
A subsidiary by Mintos seems fine.
What I don't understand is: The regulator should protect the investors. But with this SUDDEN move, they have completely washed the liquidation potential of investors and thus seriously put them at much more risk than before. That seems adverse with the first principles of the regulators.
That seems strange.
Mintos: Care to explain?0
Yeah they're really difficult, yet possible. But probably really time intense - but I think P2P Plattforms in general have a lot more potential than they use.
The Regulators protect, and your point is valid. Looking at it from this perspective.
But sadly they have to look from the perspective that the credits before had no regulations thus weren't safe - no protection for the investors.
The Regulator basically just sees the new system with the notes, about what was before... It's none of his business nor does he need to know about or care how it will go ok due to the fact that it wasn't regulated so it's nothing he has to interfere with or most likely has not even power over it, law wise.
It's all just about the notes and that mintos is regulated the moment the loans are gone and investors aren't able to buy or sell them.
That's the whole point, sadly. I do agree with you but the sad reality is just.... About having a regulated marketplace now and it's official. That's already it.
I know a lot are stuck in long term loans... It's pretty hard I can imagine. I normally never go over 36 months. Actually 6 months is already lokg for me, so I invest in loans just really short.... Yet I read few times already about imcredible long bindings some people got to loans.
So a lind of "off-shore" market, is maybe not even the worst - I sadly just don't know how to code and do things like this since... Imagine a market, where people could buy and sell loans from multiple platforms. This market could be used off from those platforms as a secondary market. Definitely interesting to me. Would also like to go with that and making contracts with platforms that would "alllow" this kind of trading since it'll ne complicated for them, too.
But would make many secondary market investors happy & bring besides happy investors, still some money for the companies.
And... What's better for any Plattform than happy and satisfied investors that have lots of freedom, maybe even though the company would lose a bit of money since it's not their own secondary market... People would stick around and stay, and potentially more will come which after all leads to actually more money :D
Not sure if you're going to get an answer from Mintos directly :/0
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