Grupeer Suspends Payments to Investors
grupeer.com
Grupeer Suspends Payments to Investors
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Re: Grupeer Suspends Payments to Investors
#2If I'm reading it right, their business model is "eBay/Amazon for purchasing secured loans", is that right?
Are they saying they're just suspending interest payments to investors, or have they actually disappeared their investors' capital indefinitely?
Re: Grupeer Suspends Payments to Investors
#3If I'm reading it right, their business model is "eBay/Amazon for purchasing secured loans", is that right? Are they saying they're just suspending interest payments to investors, or have they actually disappeared their investors' capital indefinitely?
The world is SOL so get with the program. It's all SOL from here.
Re: Grupeer Suspends Payments to Investors
#4If I'm reading it right, their business model is "eBay/Amazon for purchasing secured loans", is that right? Are they saying they're just suspending interest payments to investors, or have they actually disappeared their investors' capital indefinitely?
Is this just a smaller, sketchier Lending Club?
Re: Grupeer Suspends Payments to Investors
#5They had me at: Register Now, Add Funds, Get Profit. I can't give them my money fast enough....
Sounds like loan repayments (ie principal + interest) are suspended indefinitely. This is the risk you take when you are expecting a 10+% return on property dev and payday loan investments.
Re: Grupeer Suspends Payments to Investors
#6If I'm reading it right, their business model is "eBay/Amazon for purchasing secured loans", is that right? Are they saying they're just suspending interest payments to investors, or have they actually disappeared their investors' capital indefinitely?
> The team of Grupeer has been working with legal experts on finding solutions acceptable to all parties involved.
It looks ugly.
Re: Grupeer Suspends Payments to Investors
#7This is the first of many such organizations that are going to go through this. All these collective funding platforms LendingClub.com, Prosper.com, FundingCircle.com, YieldStreet.com, WunderCapital.com etc are going to be forced to suspend payments to their investors as their clients face ongoing economic hardships.
Re: Grupeer Suspends Payments to Investors
#8They had me at: Register Now, Add Funds, Get Profit. I can't give them my money fast enough.... Sounds like loan repayments (ie principal + interest) are suspended indefinitely. This is the risk you take when you are expecting a 10+% return on property dev and payday loan investments.
Prosper and LendingClub loan marketplaces are of similar high risk profile in the US (the only borrowers on those platforms are those who couldn’t borrow from banks or other traditional lenders). I expect those investors will end up with interest and principal losses as well, the cost of investing in consumer subprime debt.
Re: Grupeer Suspends Payments to Investors
#9Reads like a typical Ponzi scheme that just collapsed.
If they were for real, they'd announce reduced revenue and show financial statements. Sure, they're experiencing some bad debt. But not 100%.
Re: Grupeer Suspends Payments to Investors
#10They had me at: Register Now, Add Funds, Get Profit. I can't give them my money fast enough.... Sounds like loan repayments (ie principal + interest) are suspended indefinitely. This is the risk you take when you are expecting a 10+% return on property dev and payday loan investments.
Prosper and LendingClub loan marketplaces are of similar high risk profile in the US (the only borrowers on those platforms are those who couldn’t borrow from banks or other traditional lenders). I expect those investors will end up with interest and principal losses as well, the cost of investing in consumer subprime debt.
Didn’t that happen during the last recession? I don’t understand why people still put money into these unsecured loan companies.