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Post by buzzablinio on Jun 15, 2020 7:51:07 GMT
Can anyone explain to me why, if my Mintos account has a no bad debt and no defaults and nothing over 60 days late....why have my repayments reduced to a trickle and each month the pending payment total is rising? Is pending payment not just the loans that have been repaid to the originating loan company successfully and that they need to pass back to mintos / the investor?
Is there anyway of drilling down in my account to see which of the loan providers is not passing on the money....or have I completely misunderstood what is going on?
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benaj
Member of DD Central
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Post by benaj on Jun 15, 2020 9:52:47 GMT
The portfolio page lists all your "pending payments", both current & finished. Lending in GBP have no pending payment issue.
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Post by geldregiertdiewelt on Jun 19, 2020 14:39:43 GMT
Can anyone explain to me why, if my Mintos account has a no bad debt and no defaults and nothing over 60 days late....why have my repayments reduced to a trickle and each month the pending payment total is rising? Is pending payment not just the loans that have been repaid to the originating loan company successfully and that they need to pass back to mintos / the investor? Is there anyway of drilling down in my account to see which of the loan providers is not passing on the money....or have I completely misunderstood what is going on? in the "Blog" section of Mintos you find a link to weekly updates regarding LO's pending payments. I pays to have a look at the pdf. If a LO is in deep red there, don't buy those loans and sell the ones you might already have. Mintos had to learn a bit on how to communicate on those pending payments, but IMO it's okay how they are doing it now. Pending payments as such are not Mintos' fault, there just needs to be transparency. And in the current C-19 environment I think it's obvious that pending payments are peaking. Never forget: p2p is a high risk investment, don't get fooled on that by buyback guarantee and other gimmicks. If the economy worsens, unsecured loans are the first in line to get killed and if the respective LO has no buffer, the buyback guarantee is worth a  . That said, this weeks already looks better in my portfolio compared to the last two weeks.
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benaj
Member of DD Central
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Posts: 5,591
Likes: 1,735
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Post by benaj on Jun 23, 2020 15:22:40 GMT
Received pending payment from Varks today from March 17th. 10% loan, days pending 99 days. NAR: 4.89%
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Post by buzzablinio on Jun 27, 2020 7:08:53 GMT
Can anyone explain to me why, if my Mintos account has a no bad debt and no defaults and nothing over 60 days late....why have my repayments reduced to a trickle and each month the pending payment total is rising? Is pending payment not just the loans that have been repaid to the originating loan company successfully and that they need to pass back to mintos / the investor? Is there anyway of drilling down in my account to see which of the loan providers is not passing on the money....or have I completely misunderstood what is going on? in the "Blog" section of Mintos you find a link to weekly updates regarding LO's pending payments. I pays to have a look at the pdf. If a LO is in deep red there, don't buy those loans and sell the ones you might already have. Mintos had to learn a bit on how to communicate on those pending payments, but IMO it's okay how they are doing it now. Pending payments as such are not Mintos' fault, there just needs to be transparency. And in the current C-19 environment I think it's obvious that pending payments are peaking. Never forget: p2p is a high risk investment, don't get fooled on that by buyback guarantee and other gimmicks. If the economy worsens, unsecured loans are the first in line to get killed and if the respective LO has no buffer, the buyback guarantee is worth a . That said, this weeks already looks better in my portfolio compared to the last two weeks. Thanks - I'd seen the pending payment PDF but confess I didn't fully understand it. I was also puzzled why no one else was complaining about the increasing pending payments on their accounts but having seen the Mintos Blog I can see that is where everyone is letting off steam. You are right, the buyback guarantee is a bit of an illusion 🙁
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. That said, this weeks already looks better in my portfolio compared to the last two weeks.