P2P Lending

ct5amr2ig1nfhp

Was anytime here in fundingsecure? I see they have gone into administration.

ct5amr2ig1nfhp

Mintos rates have started to increase slightly. The volume of loans is back up to 220k on the primary market.
A significant number of originators appear to have increased their loan rates 1-2% recently as well. For example I had a small number of Tigo loans at 9% and sold them (at -0.1% discount) to purchase 11% loans. A quick look at my account statement and I have repurchased ~25% of my overall investments in the last 2 days.

Worth having a quick scan of your loan, especially for those longer term (non pay day) loans.

littlevillage

Just noticed something rather alarming with DoFinance

I noticed one of my investments says under column heading 'Active Portfolio %' its 85% and the expected value is actually less than my original investment.

How can this be ? This isn't mentioned anywhere in their faq's.


(I have sent an email to DoFinance)

ct5amr2ig1nfhp

Mine are all 100% at the moment littlevillage. If I expand my investment plans, the loans have a mixture of due dates. Perhaps a few have recently come due and the funds are just waiting to be invested again? Add to that a lack of loans due to the recent promotion, might explain the delay in funds being re invested.

Is the value of the investment plan correct?

littlevillage

littlevillage wrote: »

Just noticed something rather alarming with DoFinance

I noticed one of my investments says under column heading 'Active Portfolio %' its 85% and the expected value is actually less than my original investment.

How can this be ? This isn't mentioned anywhere in their faq's.


(I have sent an email to DoFinance)

REPLY From DoFinance

Yes - at the moment we do have a lot of investments coming in, and there wasn't enough new loans for everyone. The loans are updated daily and your investment should be 100% active again in the next few days.


Soo looks like the promotion was far too sucessfull and now they are in all kinds of doo-doo :rolleyes:

sk8board

quick question: Do Grupeer pay interest daily, like Mintos, or monthly?
thanks

sKeith

Mintos don’t pay interest daily.
They charge client interest monthly at daily or even less increments.
It you hold a loan on mintos for 12 hours, I’d expect half of that days due interest.
As grouper does not have a secondary market, you’ll have less chances of accruing less than months worth of interest, as you are forced to hold the loan until it’s term is over or person at other end ponies up early.
If they ponies up after 10 days, then 10 days of interest would have accrued and you’d be owed that, on both sites.

Lazy Bhoy

sonyvision wrote: »

It's taxed under income tax, your earning interest. Declare it as part of your form 12 at the end of the year. Normally they reduce my tax credits by the tax owed for the next financial year.

I have been logged into the Revenues website and the most recent Form 12 only covers the year ending 31 December 2018.


I only joined Mintos and started to invest in May 2019 so I don't think that it is a from 12 that I need to fill out.


Can anybody tell me how to pay tax on the profits from Mintos from May until now or Dec 31 of this year?

retalivity

Lazy Bhoy wrote: »

I have been logged into the Revenues website and the most recent Form 12 only covers the year ending 31 December 2018.


I only joined Mintos and started to invest in May 2019 so I don't think that it is a from 12 that I need to fill out.


Can anybody tell me how to pay tax on the profits from Mintos from May until now or Dec 31 of this year?

Need to wait til next year, the 2019 forms not required til Oct/Nov 2020

Lazy Bhoy

retalivity wrote: »

Need to wait til next year, the 2019 forms not required til Oct/Nov 2020

Thank you for your reply.


So, by Oct 31 2020 I fill out a form 12 declaring any Mintos income from May 2019 to Dec 31 2019?


Then in Oct 2021 I do the same for Jan 2020 to Dec 2020


Is that how it works?

sKeith

Lazy Bhoy wrote: »

Thank you for your reply.


So, by Oct 31 2020 I fill out a form 12 declaring any Mintos income from May 2019 to Dec 31 2019?


Then in Oct 2021 I do the same for Jan 2020 to Dec 2020


Is that how it works?

By Oct. you can do it much earlier.

Lazy Bhoy

sKeith wrote: »

By Oct. you can do it much earlier.

How much earlier?


When do the Revenue post the form 12 to cover earnings for 2019?


There are none online at the moment.

FFVII

Lazy Bhoy wrote: »

How much earlier?


When do the Revenue post the form 12 to cover earnings for 2019?


There are none online at the moment.

January

Lazy Bhoy

FFVII wrote: »

January

Thanks, I will leave it until January so.

Shelflife

Don’t be in such a rush to pay revenue ! If say you owe €1000 to revenue, If you pay them in jan you lose your ability to invest .

Instead invest the €1000 for 9mths make say €75 and then pay revenue.

Lazy Bhoy

Shelflife wrote: »

Don’t be in such a rush to pay revenue ! If say you owe €1000 to revenue, If you pay them in jan you lose your ability to invest .

Instead invest the €1000 for 9mths make say €75 and then pay revenue.

Haha I never though about it that way.



That sounds even better.

P2PBanking.com

Latest discussion on links/connection between Mintos loan originators
https://www.p2p-kredite.com/diskussion/mintos-related-loan-originatorsverbind-zwischen-anbahnern-t7036.html (German forum, but this discussion is in english language)

ct5amr2ig1nfhp

Some good investigative work done in that thread^

Katawalah

Quick question about Grupeer, I've signed up recently and now looking to add funds for the first time. I'm quite confused that they offer 3 different bank accounts. I don't see the point really as other platforms just offer 1 bank account and it works fine.

Has anyone noticed a difference transferring funds to one account or the other? For example : longer processing time, unexpected fees, etc. ?

Thanks,

ct5amr2ig1nfhp

@Katawalah I just picked the first one on the list. Grupeer support say it is to give you more than one option.

Mintos - I see Rapido Finance looks to be done Mintos blog link. Anyone get stung?

And nice to see that new Dinero loans will have delayed interest payments.

littlevillage

Clara Sparse Windbreak wrote: »

@Katawalah I just picked the first one on the list. Grupeer support say it is to give you more than one option.

Mintos - I see Rapido Finance looks to be done Mintos blog link. Anyone get stung?

And nice to see that new Dinero loans will have delayed interest payments.

Thankfully not. But always worrying to see LO going to the wall. Thats 2 now (Eurocent & Rapido) plus whatever the hell is happening at Aforti

I hope Mintos is not chasing growth at the expense of proper due diligence.

I am still fairly heavily invested in Mintos ..... but with every problem my confidence takes a hit.




On a different note p2p lending Volume for Oct just published

https://www.p2p-banking.com/tag/loan-volume/

surprised that DoFinance is only up 9% Month on Month (I expected it to be up maybe 100%)

ct5amr2ig1nfhp

I reached out to DoFinance about the recent promotion. They will not be bringing it back in the short term. Also, the lack of loans should be addressed in the next few days with all investment portfolios back fully invested soon.

bcklschaps

Clara Sparse Windbreak wrote: »

I reached out to DoFinance about the recent promotion. They will not be bringing it back in the short term. Also, the lack of loans should be addressed in the next few days with all investment portfolios back fully invested soon.

They told me that too on 30 Oct. I'm still not fully invested.

FFVII

littlevillage wrote: »

plus whatever the hell is happening at Aforti
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Tip of the iceberg, Minton's seems to have no power if originator doesn't pay.

+

Unclear what claim an investor has in a loan - Originator goes belly up but loan still exists, so investor should have claim in administration but seems not so...Minto's is not P2P but rather P2B.

littlevillage

bcklschaps wrote: »

They told me that too on 30 Oct. I'm still not fully invested.

Same here, slow to get fully invested after I threw a few quid in during the recent bonus promotion.


EDIT : Now fully invested on DoFinance .... hurray :-)

P2PBanking.com

Problems at Mintos loan originator Metrokredit. Announcement and some digging and opinion by investors
https://www.p2p-kredite.com/diskussion/viewtopic,p,128804.html#128804

ct5amr2ig1nfhp

Thanks for that update. I had a few Metrokredit, Sebo and Dinero loans that I sold off quickly enough at -0.1%. All were gone within a few minutes.

I also got rid of the few Dozarplati loans I had as ~ 90% of their loans are now late.

Edit: got rid of the Dinero and Sebo just in case too.

Shelflife

Thanks for the heads up, I had nothing in Metro and was getting out of Dinero anyway but I got rid of them at a small discount.

I also got out of Dozerplati as well as Sebo .

Ive turned off my auto invest for the weekend until the dust settles as well.

I used to have a secondary market autoinvest but shut it off as I felt that you could easily pick up a lot of rubbish being dumped there if you werent on the ball.

This just shows how important it is to share a bit of knowledge with each other.

FFVII

Whats up with sebo and Dozarplati?

ct5amr2ig1nfhp

90% of Dozarplati loans are late according to the stats page.

Sebo appears to be part of the same group as Dinero and MetroKredit. Metro in a bit of trouble in Russia. Have a read of the thread posted by Claus.