P2P Lending

Thanks for the heads up, I had nothing in Metro and was getting out of Dinero anyway but I got rid of them at a small discount.

I also got out of Dozerplati as well as Sebo .

Ive turned off my auto invest for the weekend until the dust settles as well.

I used to have a secondary market autoinvest but shut it off as I felt that you could easily pick up a lot of rubbish being dumped there if you werent on the ball.

This just shows how important it is to share a bit of knowledge with each other.

Monego & Iutecredit have had their kosovan banking license revoked, loans from these originators in Kosovo on Mintos are currently suspended - i.e. cant buy and sell.

Ive only got 30€ in kosovan loans with both these companies, but substantially more in other countries by the same originator - time to offload

How did you get rid of them if they’re suspended?

Only the loans in Kosovo are suspended, but both originators offer loans in other countries.
I was able to get rid of those, stuck with the kosovo ones still though

Ive stopped my autoinvest on all platforms and started making withdrawals.

will have another look at it again in the new year but for now im reducing my exposure.

Fwiw I think the Iute problem is not of their making and it will work itself out but theres just too many glitches and problems lately.

What alternatives to Mintos are you guys looking at?

Some good news from Mintos regarding the Monego loans. The buyback guarantee has been taken over by another group, Finitera who will step in once payments have been delayed by 60 days.

Email below:

Last Friday, December 6, 2019, the Central Bank of Kosovo (CBK) informed Monego about the decision to revoke Monego’s microfinance license, effective immediately. The management team of Monego is working with all involved stakeholders to ensure the collection of customer payments. Monego shareholders are communicating and working with CBK to ensure the renewal of business operations.

Along with the license being revoked, Monego does not issue new loans. CBK has appointed a liquidator of Monego. The liquidator estimates that the elaboration and approval of a plan for covering creditor’s claims will require at least a month. The approval of the plan is subject to CBK decision.

Accordingly, last Friday Mintos informed investors that Monego issued loans are no longer present on the Primary and Secondary Markets.

At this time, the appointed liquidator, as representative of Monego, has the responsibility on behalf of Monego to transfer the received borrowers’ repayments for Monego issued loan investments to Mintos, for Mintos to credit investors accounts accordingly. In the unlikely case when Monego would not make the contractual payments to investors and, as a result - all loans would become late, Finitera as a guarantor will cover scheduled borrower payments to investors having investments in Monego loans once these payments are delayed for 60 days.

Finitera, an international fintech group operating in four markets with 122 branches employing 718 employees and with a share capital of 8 million EUR, was in the final stage of changing Monego shareholding structure and adding it under Finitera direct ownership. Although the work on reorganization was not finalized and as such Monego is not part of Finitera, Finitera has decided to grant a guarantee for certain obligations that Monego holds towards investors on Mintos.

Mintos is taking legal measures to claim from Monego monies due to investors on Mintos and has engaged a local law firm in Kosovo for that purpose.

We thank our investors for their patience while we work with all involved parties for the most suitable solution for this situation. Meanwhile, please contact our Investor Service team in case of additional questions.

Ive stopped all of my autoinvests across the boards.

Mintos , ive put up all my non current and 12mths + loans up for sale and letting the rest wash out.

Grupeer and Peerberry and Robo im withdrawing the cash as it matures .

Viventor and Fastinvest ive withdrawn my initial investment in both and just waiting for the rest to mature/sell then im out of both and wont go back in.

Estateguru im happy to leave and the same with Envestio as I dont have big funds in either.

Linked finance im withdrawing the money as it mature and wont go back in there either.

Longterm I intend on reducing my P2P portfolio, I went in way too hard and thankfully didnt get burnt.

I will leave a more modest Portfolio in Envestio, Estateguru Peerberry and Grupeer and Robocash and have the rest in Mintos.

Being honest I prob got a bit greedy and the Iute problem opened my eyes to the downside a bit more.

Atm ive withdrawn about 25% and will prob only leave about 25% in P2P in the new year.