P2P Lending

ct5amr2ig1nfhp

Are any of you following the issues raised with Kuetzal ? Jørgen is keeping his blog updated - he is heavily invested in Kuetzal (blog).
Claus also has a (thread) on his forum.

Shelflife

Kuetzal bank accounts blocked and waiting for the AML procedure to finish to release payments to investors
January 08, 2020

Investors that made requests to withdraw their money from Kuetzal are now reporting that they received an answer from Kuetzal, stating their bank account is blocked, and waiting for the AML procedure to finish by end of January and make every payment in the first week of February.
Here is the full response: "Hello, We are now trying to unblock our bank account to be able to make all of our pending transfers. We are expecting to finish our AML procedure by the of January and make every payment during the first week of February

littlevillage

Shelflife wrote: »

Kuetzal bank accounts blocked and waiting for the AML procedure to finish to release payments to investors
January 08, 2020

Investors that made requests to withdraw their money from Kuetzal are now reporting that they received an answer from Kuetzal, stating their bank account is blocked, and waiting for the AML procedure to finish by end of January and make every payment in the first week of February.
Here is the full response: "Hello, We are now trying to unblock our bank account to be able to make all of our pending transfers. We are expecting to finish our AML procedure by the of January and make every payment during the first week of February

I'd say Jorgen from

https://financiallyfree.eu/kuetzal_portfolio/ (25k invested)


is about to choke on his Aebleflæsk :eek:

ct5amr2ig1nfhp

I decided to withdraw all of my funds from Envestio this evening. Do not like what's happening with Kuetzal. And Envestio appears to be mixed in with all the news.

Edit: The sudden increase in Envestio loans, is it to get cash in quickly? You have to wonder right?

retalivity

Im in Kuetzal, although not a large amount. It did seem a bit too good to be true, fixed payments and rates of 20%+.
I've requested some of my money to be returned, awaiting an answer now to see...

Jim2007

littlevillage wrote: »

I'd say Jorgen from

https://financiallyfree.eu/kuetzal_portfolio/ (25k invested)


is about to choke on his Aebleflæsk :eek:

If Jorgen has actually invested what he says he has on paper, which I doubt very much then he is an idiot. Give the size of the portfolio he could obtain his required return at a dramatically reduced risk exposure.

Don't believe any financial information you find on the internet unless you can independently fact check it, especially these so called portfolios. I came across a grad student at a business school here in Switzerland a few years ago and according to his research project, if all the money invested in these portfolios was truly invested in the markets, then it would dwarf the entire EFT industry!

Parom

Luckily i am not invested in Kuetzal.
However i have some money in Envestio, Mintos and Peerberry. However i limited the exposure to less the 10% of my investments. Stopped adding new money last year in November yet to all three.

Looking at Jorgen's investments from financiallyfree.eu, he has over 262k invested in various crowdlending platforms. Crazy if you ask me.
@ProjectMoose: how is Envestio mixed in in news with Kuetzal? got any article, link for that?

Lazy Bhoy

On Mintos I now have 3 loans gone 60+ days late.

This is the first time that I have ever seen this happen.

1 is from Credius (Romania)
1 is from Iute Credit (Kosovo)
1 is from Iute Credit (Albania)

I have frozen my Auto Invest and will begin to withdraw from Mintos.
I could be wrong but something tells me that things are starting to slide there.

FFVII

Parom wrote: »

Luckily i am not invested in Kuetzal.
However i have some money in Envestio, Mintos and Peerberry. However i limited the exposure to less the 10% of my investments. Stopped adding new money last year in November yet to all three.

Looking at Jorgen's investments from financiallyfree.eu, he has over 262k invested in various crowdlending platforms. Crazy if you ask me.
@ProjectMoose: how is Envestio mixed in in news with Kuetzal? got any article, link for that?

Read comments on financially free.

He has pimped that blog to within an inch of its life. I haven't read it in a long while. Not the same.

FFVII

Lazy Bhoy wrote: »

On Mintos I now have 3 loans gone 60+ days late.

This is the first time that I have ever seen this happen.

1 is from Credius (Romania)
1 is from Iute Credit (Kosovo)
1 is from Iute Credit (Albania)

I have frozen my Auto Invest and will begin to withdraw from Mintos.
I could be wrong but something tells me that things are starting to slide there.

That's not abnormal.

Regular happens, you probably just paying attention now.

Lazy Bhoy

FFVII wrote: »

That's not abnormal.

Regular happens, you probably just paying attention now.

I have only ever seen loans go over 30+ days late up until now.


I have never seen them go 60+ days late before, but you are right, I have never paid too much attention to it before now.


I am still pretty sure that it has not happened with any of the loans in my portfolio before though.


Isn't the buyback guarantee supposed to kick in as soon as the loans go 60+ days late?

Shelflife

I met a good few of those bloggers at the P2P conference in Riga last year. As in any walk of life some of them were pure spoofers and some knew their stuff. Some were in it for the referral money some had invested their own money in it.

It really was an eye opener ! Some had even being published and had their books with them ! But on talking to them only had a few hundred euros invested in the whole P2P game.

Im not knocking any of the above named bloggers, just remember anyone can start a blog about anything !

OCD

FFVII wrote: »

Read comments on financially free.

He has pimped that blog to within an inch of its life. I haven't read it in a long while. Not the same.

I think he makes more money from the blog referrals than he has actually saved from working. His savings rate and the amount he has invested don't match so he's not telling readers the whole story.

FFVII

Lazy Bhoy wrote: »

Isn't the buyback guarantee supposed to kick in as soon as the loans go 60+ days late?

It will.

Housekeeping etc

ct5amr2ig1nfhp

Happy to report my withdrawal from Envestio hit my account today.

ct5amr2ig1nfhp

Cashing out of robo.cash now as well. I've put what I can up for sale on the secondary market. Although I noticed only half my loans can be sold on the secondary market. I cannot see any reason based on LO, value, term or rate. Would anyone know why that is? I'll fire them an email to query it.

mike_cork

Clara Sparse Windbreak wrote: »

Cashing out of robo.cash now as well. I've put what I can up for sale on the secondary market. Although I noticed only half my loans can be sold on the secondary market. I cannot see any reason based on LO, value, term or rate. Would anyone know why that is? I'll fire them an email to query it.

Any particular reason you're cashing out of robo cash Clara Sparse Windbreak?

ct5amr2ig1nfhp

Mainly due to cash drag and recent loss of licence in philippines. I didn't have a whole lot invested and will keep the account open for future investments.

retalivity

Got an email from kuetzal, they are winding up

sk8board

retalivity wrote: »

Got an email from kuetzal, they are winding up

This is the inherent risk with any business reliant on crowd-funding, the crowd is really a herd, and one bad experience that could mean joe public investors lose their savings and you’ll end up severely hurt/wound up.

I’m now only in mintos and grupeer. Mintos are simply big enough to suffer a couple of bad originators, and their experience losing a few 18 months ago will stand to them. I have a LOT of exclusions on my auto invest and avg 9.9% returns currently. As safe as I can make it really.
I have Grupeer for no major reason bar Irish registered and buyback guarantees.

P2P platforms simply MUST keep their nose clean 24/7/365 or they will be killed by the herd abandoning them.

Heck, there are people on this thread withdrawing from platforms based on gut feeling alone - imagine if you had hard data?! You’ve be gone in a flash.
It’s a massively risky investment whatever the returns.

ShoulderChip

sk8board wrote: »

This is the inherent risk with any business reliant on crowd-funding, the crowd is really a herd, and one bad experience that could mean joe public investors lose their savings and you’ll end up severely hurt/wound up.

I’m now only in mintos and grupeer. Mintos are simply big enough to suffer a couple of bad originators, and their experience losing a few 18 months ago will stand to them. I have a LOT of exclusions on my auto invest and avg 9.9% returns currently. As safe as I can make it really.
I have Grupeer for no major reason bar Irish registered and buyback guarantees.

P2P platforms simply MUST keep their nose clean 24/7/365 or they will be killed by the herd abandoning them.

Heck, there are people on this thread withdrawing from platforms based on gut feeling alone - imagine if you had hard data?! You’ve be gone in a flash.
It’s a massively risky investment whatever the returns.

hi, would you be willing to share a screenshot of your Mintos autoinvest filters please?

FFVII

ShoulderChip wrote: »

hi, would you be willing to share a screenshot of your Mintos autoinvest filters please?

Do your own. You'll kick your self down the line if a box tick copied loses you lots

Takes a good few hours to do it right and still needs a fair few tweaks.

The more refined it is is risky to.

Staying on in work earns you more without the risks.

sk8board

ShoulderChip wrote: »

hi, would you be willing to share a screenshot of your Mintos autoinvest filters please?

I researched the more trusted online review sources of the Minto's originators - there are decent sites that have the audited financial results for each one (where available) etc, and they compare the mintos grading, versus their own. cross-reference that against research on countries and loan types, and I end up with this, (copied from my auto-invest):

Loan Originator (22/62)
Rating (4/8)
Loan Type (5/8)
Country (12/32)

The only thing I adjust is the % interest rate, which I float from 9-10% depending on loan availability or cash drag, maybe once a month, or even less.

with the conditions above, loans at 11.5% are as high as I've seen.

Timmaay

Mintos has invest and access, and Bondoras go and grow, both offer a lower interest rate (in around 7%) for apparently a safer method of investing, however neither have your capital garanteed. Would I be right in thinking neither are worth leaving money in, and instead just invest in the normal auto invests with myown filters put in to try and diversity across LO and staying away from loans with low ratings.

ct5amr2ig1nfhp

The Kuetzal telegram discussion is a sh*tshow. Further revelations in recent days. :eek:

Looks like good news regarding the Monego loans on Mintos. I've received a significant chunk of the 60+ late loans in the last couple of days.

I have now exited Envestio and FastInvest. All funds withdrawn and back in my account. Winding down Robo.cash, most of the loans I could sell are now sold.

Next step is to figure out where to invest the funds now.

ct5amr2ig1nfhp

Anyone following Envestio on twitter? They seem to have lost the plot (linky) with the chap Roasted Peer Duck. Pretty unprofessional from Envestio.

Shelflife

Yup, very unprofessional, all they’re doing is fanning the flames by giving the Duck oxygen.

Shelflife

Well the Duck tweets took an unexpected twist !!!


I have received a multiple threat to my family. I am deleting this account as it's a question of staying alive. In case something will happens to me all docs and info I have are at a custodian lawyer who will publish it in international press. Take care.

ct5amr2ig1nfhp

Wowzers. The account is deleted already. Take everything with a pinch of salt of course.

Shelflife wrote: »

Well the Duck tweets took an unexpected twist !!!


I have received a multiple threat to my family. I am deleting this account as it's a question of staying alive. In case something will happens to me all docs and info I have are at a custodian lawyer who will publish it in international press. Take care.

Shelflife

Not looking good at Envestio

Dear Investors,
We would like to address all our clients, investors, borrowers and other counterparties with the following very important issue. We proudly declare that till present moment Envestio managed to fulfill on time and in good faith all financial obligations to all contractual investors and borrowers, despite the very unfavorable situation in the crowdfunding market, provoked by the uncertainty and potential fail of Kuetzal platform.

Simultaneously with the recent concerns within the industry, we tracked repeatedly various technical attempts targeted to influence dramatically on stability of Envestio platform. They were performed through hacker attacks on our web site and platform's internal structure and database.

At the same time, we noticed that destructive public relations campaign against Envestio has been initiated and which consisted of spreading knowingly false and unconfirmed information by numerous internet resources questioning financial stability and reliability of our platform, denigrating the reputation of the Envestio owners and key employees.

We tend to consider these attempts as a consistent and well-planned set of actions aimed to cause significant financial and reputational damage, as a result of which the Envestio platform should inevitably begin to experience substantial difficulties with current payments to its investors.

We assume that the ultimate goal of all these actions is to devalue overall Envestio's business, and the subsequent potential raider takeover of the company or an attempt to eliminate the company from the industry, getting rid of as strong competitor. The implementation of the aforementioned scenario is evidenced by a number of factors and hostile actions that occurred precisely at the moment when a serious crisis of confidence reigned in the crowdfunding market and which actually was caused by the scandal surrounding the activities of the Kuetzal platform.

Envestio strongly condemns any actions aimed at further destabilizing the current crowdfunding market situation and disrupting the activity of the Envestio platform, as these factors together can lead to an uncontrolled solvency crisis, influencing not only Envestio but also other industry participants.