p2pincome
P2P Blogger
https://p2pincome.eu/
Posts: 27
Likes: 6
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Post by p2pincome on Mar 30, 2019 19:40:23 GMT
I have made a review of Kuetzal on my blog after making a small deposit and using it for about a month. What do you guys think of this platform? It is a new platform for business loans with high yields and most loans come with BuyBack Guarantee for the full principal of the loan. They also offer 0.5% cash back during the first 180 days if you sign up with my affiliate link. Also, if you register until 31.05.2019 they will give you 10€ free for your first investment after using the promo code “SPRING2019″ (min investment is 100€ on Kuetzal)
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Post by southseacompany on Mar 31, 2019 3:04:59 GMT
Looks like it's another gambling site like Envestio, offering glitzy projects with zero financial information about the companies we'll invest in. Loan durations are longer than on Envestio, making it more risky.
I see some red flags. In the email you included in your review, they tell you that investments can be cancelled at any time (subject to 10% fee), but their T&Cs state that they can only be cancelled within the first 30 days. Well, this is probably just an oversight in editing the document.
Also in the email, they say the buyback kicks in within 2 months, during which time they will "initiate the collateral" and so on. However, the T&Cs don't say anything of substance about such a guarantee, and I find it rather implausible that they could finish negotiations with a company in default, get a court order to seize the collateral, and sell the collateral, all within a period of 2 months. I get the impression they haven't really thought through the buyback system at all, since it's never been utilized to date.
For the moment I'm not touching this. I'll consider it later if they clearly document how the buyback guarantee is supposed to work.
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p2pincome
P2P Blogger
https://p2pincome.eu/
Posts: 27
Likes: 6
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Post by p2pincome on Apr 16, 2019 20:29:52 GMT
You are right about being a platform similar to Envestio or Crowdestor. It is a new platform that has been operating since November 2018 and some features of the platform are still under construction. You are making some good points on your comment but those can also be true for Envestio since they are covering 90% of the remaining principal in a short period of time after delinquency. I have been using the platform since January and overall I am pretty satisfied with both the customer support and the loan performance. The only thing I don't really like about Kuetzal is their 10% fee for early withdraw but I am not really concerned with it personally since I invest for the long haul.
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Post by spaaps on May 11, 2019 7:45:08 GMT
From Facebook, P2P Investmet Fellows. I really hope it is not true or Kuetzal removes this loan and returns money to the investors :
”Good morning.
I got some Kuetzal warning for you.
1st - Checked project Row-House in Marupe by “ALPA Būve”. In project description is wrong picture of CEO. They are just switched, so picture Aleksejs Pahomovs is in picture for Aleksejs Remizovs. 2nd - checked borrower data and they have 13399.91 EUR government Tax debt. 3rd - Saw few posts that they Aleksejs Pahomovs is fraudulent person and got negative topics about him. 4th - Saw post from in the Official gazette of the Republic of Latvia where all business registers and so on are registered that Aleksejs had some businesses before and they got even 187955.44 EUR tax debt and currently isnt active anymore. By the way Legal address is the same as now. And for this second business has negative topics aswell...
In conclusion - If you want to risk it do it, but Im skipping it and Kuetzal aswell..
I might be wrong, but thats what I found out. Thanks.”
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p2pincome
P2P Blogger
https://p2pincome.eu/
Posts: 27
Likes: 6
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Post by p2pincome on May 14, 2019 20:48:54 GMT
The CEO of the platform responded to this. This was his answer: Dear Ainis and the community, I would like to give my comments on the topic you have raised. 1) Regarding pictures. This is a mistake made by our team. The pictures are already changed on the platform. 2) The tax debt for construction and development companies ( in case they have VAT number) is a normal working process for Latvian companies. Company is currently performing other projects. We had a conversation with company representatives, “ALPA Buve” tax debt will be closed in April-June. It will be drawn down not with the funds collected on Kuetzal and it does not affect listed project at all. 3) Aleksejs Pahomovs was involved in many large constructions in Latvia, there are no any facts about any scam/fraud from him or his company’s side, only rumors. Before listing company on Kuetzal our team has done a solid due diligence on both the team behind and the company itself. Company has successfully finished many constructions, several of them we have visited and collected feedback from their partners, no fraudulent or scam feedback was confirmed on Mr. Pahomovs or his companies. 4) The company that you were talking about with tax debt is SIA “ALPA Building” : company.lursoft.lv/webauto/40103994498?l=LV. It is another company of the mentioned developers and has a tax debt of 502.87 EUR. Company is operating and performing projects, I don’t really understand the source of information you have brought, anyways it is not correct. One more fact regarding taxes as an example: VV Line company, at the moment when it was listed on the platform had a tax debt of nearly 40K in the beginning of March, but has closed that debt recently. This is a typical situation for a large company that is importing/exporting goods or services abroad. In addition, Kuetzal provides both Kuetzal Care and Buy-Back SIA “ALPA Buve” project, which means we are taking the whole responsibility and ensure the project performance from the first day, we are also open to welcome interested parties and the construction spot when the construction begins for more transparency. Alberts Cevers Kuetzal CEO
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p2pincome
P2P Blogger
https://p2pincome.eu/
Posts: 27
Likes: 6
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Post by p2pincome on May 15, 2019 14:23:20 GMT
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p2pincome
P2P Blogger
https://p2pincome.eu/
Posts: 27
Likes: 6
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Post by p2pincome on May 31, 2019 13:36:19 GMT
Kuetzal just sent a promotional email about an extremely generous cashback promotion that they are running for the summer. The details are: Investment amount Cash-back 1,000€ to 4,999€ 1% 5,000€ to 9,999€ 1.5% 10,000€ to 24,999€ 2% 25,000€ to 49,999€ 2.5% 50,000€ and more 3% That is on top of the 0.5% cashback that you get for the first 6 Months by registering through my affiliate link and the 15€ free towards your first investment using coupon code "P2PINCOME". You can read my review of the platform on my blog here p2pincome.eu/kuetzal-review/This offer is available only during this summer (01.06.2019 - 31.08.2019).
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Post by explorep2p on Dec 10, 2019 20:51:12 GMT
We have just published an article about one of the loans that was made on the Kuetzal site earlier this year. It's a big loan (€850k) where we have a lot of doubts after performing some detailed investigation, including site visits in Riga. Please read this post before investing any funds into Kuetzal.... Alborg Petrol
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Post by geldregiertdiewelt on Dec 15, 2019 10:09:40 GMT
I can entirely not understand why people are still putting money into any of the new p2p platforms that are still mushrooming.
If you’re one of the countless p2p bloggers it might be okay because it gets you a new blog entry. But otherwise it’s just stupid. In times where even relatively established players like Mintos are struggling to maintain the quality on their platform, it’s just extremely unlikely that a new platform can come up with anything serious that all the others have missed.
Putting money in the likes of debitum network, kuetzal etc. in my opinion is not investing, but hardcore gambling.
Dec 2019 of p2p lending might be Dec 1636 of tulip mania.
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benaj
Member of DD Central
Posts: 4,855
Likes: 1,591
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Post by benaj on Dec 15, 2019 11:02:55 GMT
I can entirely not understand why people are still putting money into any of the new p2p platforms that are still mushrooming. If you’re one of the countless p2p bloggers it might be okay because it gets you a new blog entry. But otherwise it’s just stupid. In times where even relatively established players like Mintos are struggling to maintain the quality on their platform, it’s just extremely unlikely that a new platform can come up with anything serious that all the others have missed. Putting money in the likes of debitum network, kuetzal etc. in my opinion is not investing, but hardcore gambling. Dec 2019 of p2p lending might be Dec 1636 of tulip mania. My guess: promotions, interviews and reviews could cloud people judgement. There's even a subsection for Kuetzal on a discussion forum elsewhere. Some even mentioned invested €€€€€ on Kuetzal, which could be 1% or even 8%+ of their P2P portfolio.
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Post by Peter Michael on Dec 15, 2019 13:13:04 GMT
We have just published an article about one of the loans that was made on the Kuetzal site earlier this year. It's a big loan (€850k) where we have a lot of doubts after performing some detailed investigation, including site visits in Riga. Please read this post before investing any funds into Kuetzal.... Alborg PetrolGreat job!
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Post by explorep2p on Dec 20, 2019 11:31:10 GMT
We have just published an article about one of the loans that was made on the Kuetzal site earlier this year. It's a big loan (€850k) where we have a lot of doubts after performing some detailed investigation, including site visits in Riga. Please read this post before investing any funds into Kuetzal.... Alborg PetrolGreat job! Thanks Peter We've just published an update on the situation and its not looking good... Is Kuetzal a scam or just incompetent?
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Post by geldregiertdiewelt on Dec 21, 2019 10:36:59 GMT
I think the whole p2p blogging and posting overlooks a lot how vulnerable p2p can be to money laundering. Compare the regions in which most of the Baltic platforms and their loan originators operate with the respective reports on money laundering as issued from time to time by e.g. the European Central Bank, European Commission, or the IMF. What you’ll find is quite some correlation of the hotspots. I expressly do not want to utter a general suspicion, but the topic needs to be watched more, I think.
So thanks to explore2p2 for creating some awareness.
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carolus
Member of DD Central
Posts: 204
Likes: 191
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Post by carolus on Dec 22, 2019 18:06:28 GMT
I think the whole p2p blogging and posting overlooks a lot how vulnerable p2p can be to money laundering. Compare the regions in which most of the Baltic platforms and their loan originators operate with the respective reports on money laundering as issued from time to time by e.g. the European Central Bank, European Commission, or the IMF. What you’ll find is quite some correlation of the hotspots. I expressly do not want to utter a general suspicion, but the topic needs to be watched more, I think. So thanks to explore2p2 for creating some awareness. It is worth noticing how frequently some platforms have changed bank accounts - likely to be because banks are worried about money laundering etc., and end the relationship.
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Post by spaaps on Jan 8, 2020 15:55:35 GMT
There is some serious allegations that Kuetzal might be scam...
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