locutus
Member of DD Central
Posts: 1,059 
Likes: 1,622
|
Post by locutus on Jan 6, 2016 15:27:19 GMT
I understand that Twino offers buyback after 30 days but it isn't clear to me when the clock starts ticking. If I lend money on a 1 month loan and it is extended (up to 6 times) does the buyback kick in on the 7th month or is it an option on the first extension?
Also, any thoughts from forumites on the SM in case I need to exit quickly?
|
|
JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
|
Post by JamesFrance on Jan 6, 2016 16:02:45 GMT
The extensions require the borrower to make interest payments, so if no payment is made the buyback will happen 30 days after the payment was due together with two months interest.
I find that anything I put up for sale sells very fast for some reason even if the rate is low.
|
|
locutus
Member of DD Central
Posts: 1,059
Likes: 1,622
|
Post by locutus on Jan 6, 2016 17:20:19 GMT
Thanks. Does that mean when lending on a 1 month loan, it could be up to 8 months before capital is returned (6 extensions and then the 30 day buyback)?
|
|
JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
|
Post by JamesFrance on Jan 6, 2016 17:49:01 GMT
|
|
locutus
Member of DD Central
Posts: 1,059
Likes: 1,622
|
Post by locutus on Jan 6, 2016 18:07:51 GMT
Thanks James.
|
|
kvok
New Member
Posts: 1
|
Post by kvok on Jan 6, 2016 18:22:05 GMT
Thanks. Does that mean when lending on a 1 month loan, it could be up to 8 months before capital is returned (6 extensions and then the 30 day buyback)? any idea how much interestz I will receive ? Do I get interests for 1 months or for 7 months ? another question : How the extension is working I mean can the borrower require the extension each month ? for example there loan for 3 months, but the borrower requires 6 times the extension at first month then he will pay after 7 months then he apply the same steps for second payment is that possible ? Thanks
|
|
