|
Post by kl on Sept 23, 2019 14:20:21 GMT
Just received an email telling me that Grupeer is moving to Ireland. I recall that someone recently posted some information about the tax situation in Ireland that did not seem straight forward from an investors point of view. Any opinions? PS: I like their friendly style: We would like to warn you, that in case you do not agree with changes in terms of use … we shall prohibit you from using our services, including to conclude new Assignment Agreements, but shall allow access to your posting account until all funds are withdrawn.
At least they allow you to withdraw your money unlike Mintos who simply blocked my account
|
|
|
Post by statomas on Sept 24, 2019 8:50:20 GMT
Hello,
I believe this is important for investors but I cannot figure out yet how exactly.
But 2nd changed statement is quite clear and is not good for investors at all: "BuyBack guarantee will not be applicable to all purchased claims. The application/non-application of the guarantee mentioned above is specified in the loan originators’ offers on the Website of GRUPEER;"
which means from now on you have to follow each loan separately yourself. If you use Auto Invest then god help you after 6-12 months... because they did not introduce new option in auto invest setup where you could select you ONLY want loans with buyback. So be carefull....
In regards to that I would like to ask your opinion.
Do you think loan originators finally realized that 'bad times' are coming and that they do not want to take full risk on themselves anymore, but push it to investors?
Thank you.
|
|
|
Post by Ace on Sept 24, 2019 9:52:24 GMT
Hello, I believe this is important for investors but I cannot figure out yet how exactly. But 2nd changed statement is quite clear and is not good for investors at all: "BuyBack guarantee will not be applicable to all purchased claims. The application/non-application of the guarantee mentioned above is specified in the loan originators’ offers on the Website of GRUPEER;" which means from now on you have to follow each loan separately yourself. If you use Auto Invest then god help you after 6-12 months... because they did not introduce new option in auto invest setup where you could select you ONLY want loans with buyback. So be carefull.... In regards to that I would like to ask your opinion. Do you think loan originators finally realized that 'bad times' are coming and that they do not want to take full risk on themselves anymore, but push it to investors?Thank you. IMHO it's anything but clear due to the poor use of English. It could mean exactly what you fear. In which case, I totally agree with you and will disable auto invest. Alternatively, it could mean that all loans from certain originators will always offer buyback guarantees, but loans from other originators will not. In this case we would be able to select only those originators whose loans were covered by the buyback guarantee. victoria , can you clarify please.
|
|
|
Post by Ace on Sept 24, 2019 13:16:13 GMT
A new email from Grupeer makes it clear that they will introduce an auto invest setting to specify whether or not you wish to invest in loans without buyback before any such loan is introduced. Thanks Grupeer. Good decision.
|
|
|
Post by statomas on Sept 24, 2019 21:33:46 GMT
I did not get such email...
|
|
|
Post by Ace on Sept 24, 2019 22:51:10 GMT
I did not get such email... It was titled "Everything you need to know about the future of buyback guarantee". I received it at 12:56 on 24/09/2019. I suggest you contact support@grupeer.com for further details.
|
|
|
Post by jmot on Sept 25, 2019 17:17:09 GMT
Just received an email telling me that Grupeer is moving to Ireland. I recall that someone recently posted some information about the tax situation in Ireland that did not seem straight forward from an investors point of view. Any opinions? PS: I like their friendly style: We would like to warn you, that in case you do not agree with changes in terms of use … we shall prohibit you from using our services, including to conclude new Assignment Agreements, but shall allow access to your posting account until all funds are withdrawn.
At least they allow you to withdraw your money unlike Mintos who simply blocked my account I posted the tax situation in Irland for p2p investors in a different thread. I shall copy and paste here:
P2P in Ireland is only good for the platform since the corporate tax rate is just 12.5%
In addition I have a strong suspicion about the reason that they have no late loans, which matches exactly this person suspicion:
For this suspicion alone I keep well away from Grupeer: when things look to good to be true, then they are usually not true.
It is also one of the few cases where I am more worried about the platform financial stability than the loan originators' ones on the platform: Small (should be checked how small and how it was calculated in their financial accounts) profits and 34k EUR of "tax debt"? With the move to Ireland I will not even pay the few eurs to check their full financial accounts.
|
|
|
Post by kl on Sept 27, 2019 19:24:52 GMT
Thanks jmot. That's what I was looking for
|
|
mrk
Posts: 807
Likes: 753
|
Post by mrk on Sept 28, 2019 10:14:58 GMT
A new email from Grupeer makes it clear that they will introduce an auto invest setting to specify whether or not you wish to invest in loans without buyback before any such loan is introduced. Thanks Grupeer. Good decision. The setting is already there, although you can only select Yes because - as the tooltip says - "Currently, all projects have a BuyBack Guarantee". Presumably they will just enable the No option.
|
|