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Post by dagoatla on Nov 29, 2015 6:53:20 GMT
I am starting to wonder if anyone who Mintos loan to pay back at all. I have a relatively small trial investment with 60 loans since the start of the month. 4 have repaid, and 22 are currently late with some of these already 15-30 days late. Was I just unlucky with my auto buy loans or is anyone else in the same situation?
I know the buy back is there, but will it be sustainable if this is the level of non payment?
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Post by captainconfident on Nov 29, 2015 18:19:30 GMT
I'm holding parts of 450 loans and about 10% are late. That's been pretty consistent over the last year. Only 40% of this number are cars or Georgians and 20% of the invested total, and I suggest there lies the difference.
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Post by dagoatla on Nov 30, 2015 7:56:16 GMT
All of mine are Georgian and 1 month duration, as I wanted to see what it was like before committing for a longer term, and there was no option only Georgian loans on the market.
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Post by red_panda on Nov 30, 2015 11:32:17 GMT
I'm in 18 loans (cars, business & mortgage) of which 3 are late, slowly increasing the diversification.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
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Post by JamesFrance on Nov 30, 2015 15:05:56 GMT
You can see which type of loans are late in the statistics www.mintos.com/en/statistics/Having invested here since January and with over 350 loans I have only had one loan 60+ days late and that was a mortgage loan which has now been updated. I do have quite a lot of over 30 lates though, mainly one month personals which should be bought back. The car loans have been bought back with interest when necessary.
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Post by red_panda on Nov 30, 2015 20:09:09 GMT
from most late, to least late Personal > Car > Business > Mortgage
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Post by xyon100 on Dec 1, 2015 14:07:49 GMT
I have a business loan that has always paid late but is now rapidly heading for being my first 60+ and with no buyback (that I am aware of?) it will be interesting to see where this goes. The security on the loan is a tractor.
As an aside, does anyone know if you can set a minimum amount on auto invest? I really don't want thousands of itsy bitsy loans.
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p2pmaster
investment is life.
Posts: 128
Likes: 54
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Post by p2pmaster on Dec 1, 2015 16:19:45 GMT
Let's be fair, there is no way to live without default on the platform and the expected default is included in the higher interest rate. As I have invested in this loan too, I am rather sceptical about collection from the collateral (hard to find tractors in the countryside). Let's see.
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Post by xyon100 on Dec 16, 2015 13:47:30 GMT
Let's be fair, there is no way to live without default on the platform and the expected default is included in the higher interest rate. As I have invested in this loan too, I am rather sceptical about collection from the collateral (hard to find tractors in the countryside). Let's see. The tractor loan has now gone 60+. :-( Indeed, let's see.
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Post by red_panda on Dec 17, 2015 15:09:09 GMT
Are you guys waiting to see what happens with collection or repayment or planning to hope to sell at SM at discount? I too own a part of this loan which amounts to 1% of my total P2P investments, but still not sure if I should wait to see what happens or hope to sell at discount.
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Post by wiseclerk on Dec 17, 2015 15:13:36 GMT
How about trying to sell most of it but keep 5€ to see what happens?
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p2pmaster
investment is life.
Posts: 128
Likes: 54
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Post by p2pmaster on Dec 17, 2015 15:26:28 GMT
Indeed, I have sold my part with a small discount (nothing compared to Bondora's overdue discount rates). I will read the forum for the follow-up. Sorry, I am a free-rider.
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Post by red_panda on Dec 17, 2015 18:07:26 GMT
What makes me wonder, who would buy a part in this loan discounted at 1%, the yield to maturity will be still below 14% with a loan that's late 60+. That to me sounds like a stupid investment, unless you know what others don't know if you know what I mean...
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Post by xyon100 on Dec 18, 2015 7:33:33 GMT
How about trying to sell most of it but keep 5€ to see what happens? Good idea. Done.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
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Post by JamesFrance on Dec 18, 2015 9:57:18 GMT
They have made partial payments and my guess is that the cattle are not quite ready for market, so hopefully the cash will come in once they are sold. Not too worried but I don't have a large amount in this one anyway so will wait. I don't see any parts offered with discount.
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