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Post by delfinus on Apr 30, 2019 15:19:26 GMT
Hiya, I don't know exactly what you want to ask. Do you have any doubts, questions?
I'm with IUVO for quite some time now. I believe their platform is very stable and I find their interface very entertaining of most I have. It is focused mostly on Bulgarian and Romanian loans. I mostly invest into Bulgarian E and HR rating loans coz of a bit higher interest rates. I pick up short term loans, usually up to 14 weeks, with 7 days installments.
IUVO offer also very nice refer and friend program which is a good motivation to start with them. Actually this was my first P2P platform I started with. In my opinion their platform is very good and offers variety of information for you to see about the loans and also statistics is very good and informative. I also have very good experience with their support through chat. They respond actually immediately to all of your questions. I did not observed this with other platforms I'm also in.
I did not have any problems with them until today, deposits works flawless, withdrawals come also in 2 working days to me.
best, d.
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Post by bogdanworld on May 1, 2019 7:01:12 GMT
I want to know if is a trust platform or a scam. I want to invest more to become gold member, but also i dont want to lose 25000 euro.
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Post by delfinus on May 1, 2019 20:56:24 GMT
Iuvo is trustworthy platform. Even though I would recommend to start easy everywhere and not only with IUVO. I do not collect platforms but I'm currently in about 4 platforms which I found that I can trust. IUVO is also among them. As said all is working great with them. Support is the best i met, withdrawals are also working flawless as promised on the website. You can also decide on the score of the loan takers how much risk you want to take. The only down side with them is that you do not get interests if the loan defaults. But ok, buyback guarantee always kick so you will always get your principal back.
p.s. If somebody decides to invest with IUVO you can also be eligible for the bonus, you can drop me a line and I can put your E-mail in IUVO's refer system.
best, d.
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0risk
Member of DD Central
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Post by 0risk on May 5, 2019 21:24:06 GMT
I'm also an investor with Iuvo and I agree with these comments. I'm satisfied so far.
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neal
Member of DD Central
Posts: 87
Likes: 55
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Post by neal on May 7, 2019 9:37:04 GMT
20 months further on, how are things working out? If you don't mind me asking
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Post by wiseclerk on May 7, 2019 15:06:09 GMT
Satisfactory. My investment is much bigger meanwhile. Iuvo has one of the highest signups bonus of all platforms. You can get it here:
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Post by jmot on Aug 30, 2019 21:36:38 GMT
I have recently opened an account since I am particularly interested in a new loan originator called IbanCar (unfortunately very few loans issued and none on groupeer) which sells loans with car collateral. It has a way better quality collateral than Mogo in my opinion, but the capitalization and financial results of the originator are problematic (it is a small company with tiny operating profits even though their capital is very good w.r.t the size of the loan book). My main problem is not with the loan originator itself but with Iuvo terms and conditions and assignment agreement. It is not perfectly clear from the three documents below if a claim to the loan is direct (i.e. I have a direct pledge on the loan and therefore its collateral in case of default of the loan originator) or indirect (I just have a promise from the loan originator to forward me part of the cash flow of the loan, with no pledge on the loan and its collateral, in case of default of the loan originator I shall only have an unsecured claim against the loan originator remaining disposable assets). This is a very big difference when doing due diligence and deciding how much to invest.
Does anyone know if loans bought on Iuvo Group have direct or indirect claims?
From clause 7.2 below it looks like the claim is direct, but with the big limitation that considering that "Iuvo can transfer the management of the Claim by the Portal to a third party" combined with clause 5.4 below "the Portal does not have an obligation to repay to the User its paid Claim Price or a part thereof" theres is a big limitation to the direct claims of the assignee, since usually these third parties are debt collector agencies that buy the loans at a tiny fraction of their real value or impose huge collection fees (especially bad for collateralized loans that have not defaulted) and Iuvo just absolves itself of any responsibility in recovering a non defaulted loan cash flow in case of loan originator default and prevents the assignees from any direct action to collect from a borrower who has not defaulted.
Thank you
***********
4.4. Upon the confirmation stipulated in Clause 4.3, the User’s purchase shall become binding upon the User and the Portal shall immediately withdraw the funds indicated on the Summary from the User’s funds on the Portal’s Account. The relevant Claim shall be considered as transferred to the User once the funds are withdrawn from the Portal’s Account and respective transaction is reflected in the User’s Virtual Account.
5.3. After the Assignment Agreement is concluded and throughout the period of validity thereof, the Assignment Agreement shall be available to the User on the User’s Profile and the Portal shall immediately ensure the authorization to the User to examine the schedule of repayment of the purchased Claim and the planned Loan repayment and Interest payment. The Loan Agreement and other related documents resulting from the conclusion of the Assignment Agreement shall not be handed over to the User (the Assignee) and shall be kept with the Portal or the Assignor. The identity of the Borrower will under no circumstances be disclosed to any User.
5.7. The User is aware of the risk of default on Borrower’s obligations, as a result of which the User might not fully recover the Claim. The Portal shall perform all the necessary and allowed actions to facilitate timely and full recovery of the Claim without an involvement of the User. In event of the Borrower’s default, the Portal shall not assume the responsibility for the security of the Claim, and the Portal does not have an obligation to repay to the User its paid Claim Price or a part thereof.
Assignment agreement (very short and unclear): ASSIGNMENT AGREEMENT PRINCIPAL TERMS AND CONDITIONS
THIS ASSIGNMENT AGREEMENT was made by way of the Assignor making, and the Assignee accepting, an offer for assumption of the Claim as described in Clause 3.2 of the General Terms and Conditions and Section 3 of IUVO User Terms. [ 1. Assignor: Ibancar 2. The Assignor’s Portal-ID number: xx 3. The Assignee’s Portal-ID number: XXXXX 4. Number of the Loan Agreement: XXXXXX 5. Claim Price: XXX EUR 6. Composition of the Claim: 6.1. the remaining principal amount: XXX EUR 6.2. interest: XXX % per annum 6.3. other:all late payment interest, contractual penalties and other ancillary claims arising from the Loan Agreement. 7. Repayment date of the Loan: YYYY-MM-DD 8. Repayment frequency: Y months 9. Buyback obligations if delay of Borrower’s Payments: Yes 10. Type of buyback: 100.0 % principal 0% interest
7.2. In case of default by the Loan Originator according to the cooperation agreement made by and between the Loan Originator and the Portal the Assignee irrevocably authorises the Portal as a proxy at its sole discretion to inform the Borrower on the assignment of Claim on behalf of the Assignee and demand the Borrower to continue to make all payments arising from the Claim to the Portal or, in case of transfer of the management of the Claim by the Portal to a third party, third party as a proxy of the Assignee. The Assignee authorised the Portal to submit notifications to the Borrower on the assignment of Claim.
7.4. The authority included herein is issued with the right of re-authorization and is in force for the entire duration of the Agreement. The Portal or, in case of transfer of the management of the Claim by the Portal to a third party, third party has the right to act, using its employees and authorized representatives.
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p2pmark
Member of DD Central
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Post by p2pmark on Aug 31, 2019 10:37:44 GMT
According to this, it's indirect: p2pmarketdata.com/iuvo-group/There's buyback so I think understanding the financial viability of the loan provider is more important. According to explorep2p.com/viventor/, ibancar don't score very highly when compared with the better Mintos loan providers.
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Post by jmot on Sept 1, 2019 10:25:44 GMT
According to this, it's indirect: p2pmarketdata.com/iuvo-group/There's buyback so I think understanding the financial viability of the loan provider is more important. According to explorep2p.com/viventor/, ibancar don't score very highly when compared with the better Mintos loan providers. Thank you very much. I shall enquire directly with Iuvo on this matter. I agree that the loan originator is shaky (I purchased their latest annual reports and performed some due diligence on the loans they issue) due to the fact that their main problem is a low volume of loan sales since they are very conservative in granting loans, which is bad for their sales, but very good for the quality of the loans issued (low LTVs, granted against security on recently purchased cars, extremely low default rates: I calculated not more than 0.5% since their opening 5 years ago). That is why I am interested in direct vs indirect, I would like to purchase shares of their good quality loans, not granting an unsecured loan to the originator.
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p2pmark
Member of DD Central
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Post by p2pmark on Sept 1, 2019 14:28:04 GMT
Do you think they'll still be good loans if the originator went bust?
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Post by jmot on Sept 1, 2019 15:42:11 GMT
Do you think they'll still be good loans if the originator went bust? Yes and given a high enough investment I would have the means and the skills to take the loans over since I have already got a running business in Spain. As a matter of fact I would be willing to purchase the whole loans. I am not interested in this originator I am interested in its loans that is why I am only interested in a direct structure.
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Post by jmot on Sept 2, 2019 12:55:23 GMT
Just confirmed with Iuvo support, all investments are indirect, so collateral/pledges they publish mean absolutely nothing. They are all unsecured loans to the originator, you are lending against a claim to the balance sheet of the originators which are generally speaking very shaky and the Iuvo rating mechanism (A, B, ...) is nonsense since you have no claim against the collateral or the borrower at all. Hopefully this due diligence is helpful to other investors.
I want to thank again p2pmark.
If anyone know about a platform where Ibancar loans can be purchased with a direct structure (Groupeer or Viventor for example) please let me know
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benaj
Member of DD Central
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Post by benaj on Oct 27, 2019 12:20:09 GMT
I opened an account in September. After my first 50 days trial, I find Iuvo is a solid platform with good Refer-a-Friend program.
My observations: - plenty of loans - Some loans offer great rates - UI is satisfactory, a little bit sluggish. It shows 10 loans every time after applying a filter unless changing to 100 per page - I do not like the way Secondary Market operates and its layout. It can be confusing. Loans will be taken off the SM after repayment. - 1% selling fee on the Secondary Market - Buyback guarantee doesn't offer interest, affecting portfolio performance. - My XIRR so far is lower than NAR displayed on the dashboard. NAR is currently 13.69%
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Post by noob3r on Oct 29, 2019 22:19:55 GMT
Hello,
First, sorry for the rather dump question. I'm new to p2p lending and finances in general, but I've been reading alot about it the last two or three weeks.
I want to ask what is the difference between direct and indirect loan and what are the pros and cons for both?
Thanks and sorry once again if its unappropriate.
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benaj
Member of DD Central
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Post by benaj on Oct 30, 2019 8:38:24 GMT
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