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Post by explorep2p on Jul 27, 2017 22:48:14 GMT
p2pmaster : Did I read it correctly that while Eurocent has not declared bankruptcy, the investors keep getting only the interest rate used with buyback guarantee? However, the buyback guarantee is not working today? In other words if the actual interest rate is 80% and you get 10%, then that 70% part is in Eurocent's balance and assets in bankruptcy if things go south? The update from Mintos today raised more questions than it answered in our view. The current situation for Mintos investors is very unsatisfactory. We have asked Mintos to confirm several aspects and are still waiting for a formal response. The underlying performance of the loans seems very poor. If Mintos investors do not quickly start to receive the actual interest paid on each performing loan (i.e 90% APR), the losses could be severe as so many loans are under-performing.
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Post by thep2pinvestor on Jul 30, 2017 4:25:07 GMT
p2pmaster : Did I read it correctly that while Eurocent has not declared bankruptcy, the investors keep getting only the interest rate used with buyback guarantee? However, the buyback guarantee is not working today? In other words if the actual interest rate is 80% and you get 10%, then that 70% part is in Eurocent's balance and assets in bankruptcy if things go south? I think you are right. The investors seem to continue to collect the BB interest rate level (10 -11 %) while the difference with the real interest rate paid by the borrower (80-100 %) is accumulated in the books of Eurocent. This would mean that we are joining the mass of all other creditors with respect to 'our' interest rate differential collection. My lesson learned is : i stopped all investments in loans with BB guarantee (on all platforms).
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Post by rahafoorum on Jul 30, 2017 6:51:22 GMT
p2pmaster : Did I read it correctly that while Eurocent has not declared bankruptcy, the investors keep getting only the interest rate used with buyback guarantee? However, the buyback guarantee is not working today? In other words if the actual interest rate is 80% and you get 10%, then that 70% part is in Eurocent's balance and assets in bankruptcy if things go south? I think you are right. The investors seem to continue to collect the BB interest rate level (10 -11 %) while the difference with the real interest rate paid by the borrower (80-100 %) is accumulated in the books of Eurocent. This would mean that we are joining the mass of all other creditors with respect to 'our' interest rate differential collection. My lesson learned is : i stopped all investments in loans with BB guarantee (on all platforms). The ones without BB and less than full interest offered on Mintos are even a "better" deal
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stevio
Member of DD Central
Posts: 2,065
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Post by stevio on Jul 30, 2017 7:14:51 GMT
p2pmaster : Did I read it correctly that while Eurocent has not declared bankruptcy, the investors keep getting only the interest rate used with buyback guarantee? However, the buyback guarantee is not working today? In other words if the actual interest rate is 80% and you get 10%, then that 70% part is in Eurocent's balance and assets in bankruptcy if things go south? I think you are right. The investors seem to continue to collect the BB interest rate level (10 -11 %) while the difference with the real interest rate paid by the borrower (80-100 %) is accumulated in the books of Eurocent. This would mean that we are joining the mass of all other creditors with respect to 'our' interest rate differential collection. My lesson learned is : i stopped all investments in loans with BB guarantee (on all platforms). Sorry for any loss, I haven't been following, but I would quite like to know the pitfalls of these buybacks Could you kindly explain the problem very simply? Is it the company that does the buybacks which has gone into admin, so they can't now complete on them?
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Post by kilozulu on Jul 30, 2017 10:50:11 GMT
I think you are right. The investors seem to continue to collect the BB interest rate level (10 -11 %) while the difference with the real interest rate paid by the borrower (80-100 %) is accumulated in the books of Eurocent. This would mean that we are joining the mass of all other creditors with respect to 'our' interest rate differential collection. My lesson learned is : i stopped all investments in loans with BB guarantee (on all platforms). Sorry for any loss, I haven't been following, but I would quite like to know the pitfalls of these buybacks Could you kindly explain the problem very simply? Is it the company that does the buybacks which has gone into admin, so they can't now complete on them? this post explains it well explorep2p.com/eurocent/
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