Unpayable debt! Heading straight for planned bankruptcy of "Minna no Credit." With the tremendous disruption campaigns, I can’t tell what’s going on at all… - Navi+ - GogoJungle | Auto Trading - Market Analysis

On July 10【Everyone's Credit Looks Really Dangerous... Meanwhile, Trust Lending is Prepaying Campaign Rewards♪】I wrote an article about this, but it has finally come to this...

In the end of July, the repayments for that period are finally in arrears

I haven’t invested, I only got the rewards for opening an account, so I’m not damaged, but

If the former representative Shiraishi Nobuki hadn’t had his misdeeds exposed on 2ch, I would surely have dumped a lot of money in, so I still keep myself informed.

However, the commotion from the end of July has been beyond normal, and even the investors may not grasp the full picture.
Of course I also only see fragments, but I will explain as far as I can.

Before the end of June distribution, the collateral for 17.7% of the loan → further reduced by the June distribution → … but all distribution was still paid out by the end of July

So why does it say that the July distribution was paid in full, even though the July principal repayment could not be paid?

Apparently MinCred paid the full July distribution.
However, the principal for the July redemption could not be paid at all, so they left it unpaid.

And on their own website『We paid all the distributions』 they announced it seems.

Therefore, people who did not invest in the July-completed cases continued to receive the full distributions as usual and did not notice.
The realization came only to those who had a July-complete case—then, looking at the website, they learned that the principal had not been repaid at all, but indeed“Only the distributions were paid back.”To be precise, there is no mention of the principal repayment (of course).

‘23 MinCred customers seized their accounts?’

On July 27, some investors (23 people) directly began collection actions against our lending partner, causing a halt in real estate settlements and lending at the partner company, and as a result, we were informed that we could not execute the usual repayments to us as scheduled on July 28.

Additionally, due to this action, the lending partner filed for out-of-court dispute resolution with us, and until an agreement is reached there, the repayment of the principal will be temporarily suspended.

Anticipating MinCred’s inability to repay, 23 investors hired lawyers to seize assets.
※ After the collapse, the debtors (MinCred investors) would have to share the assets equally, so the 23 investors who would have invested large sums apparently tried to recover before that happened.

MinCred claims“The July 28 repayment failed because of this!”They seem to be saying.

Repayment funds for the 28th were collected on the 27th? If they hadn't collected earlier, they would not have been able to meet the 28th anyway. The reason of non-repayment is simply money running out, but MinCred seems to have found a good justification for it.

“It’s not because of MinCred;

it’s because of these 23 people that repayments became impossible~”

‘Now, an order to suspend business by the Tokyo government’

Under the image,【There was a clearly improper act of demanding excessive collateral without a reasonable cause.】
and this seems to be the reason for the order, but MinCred likely did not obtain much collateral, so its funds ran dry

The reason for the order is unclear, andFormer representative Shiraishi leaked MinCred’s information to Tokyo → they tried hard, but MinCred faced orders for business suspension from both the Financial Services Agency and Tokyo Metropolitan Government, and eventually there was no path to recovery and it collapsed…some say this is the reason or to inflame confusion.

Source →http://www.metro.tokyo.jp/tosei/hodohappyo/press/2017/08/02/04_01.html

Other

23 people hired lawyers to seize assets (or attempted to), and if this succeeds, other customers will have to share the remaining assets, so their share will decrease → customers watching the current situation seem to feel bitter.

Among the 23 who hired lawyers, there was a blogger who wrote about the actions, but all those articles have been deleted.
Probably at the instruction of the lawyers, articles were deleted (if this moves toward full-blown litigation, deleting articles is natural)
Deleted pages →http://kabu-ipo-blog.com/archives/10702

Well, things will probably remain chaotic, but money has already run out, so this month’s not only the principal but also the distribution is unlikely to be paid.
And at the end, the remaining small amount of money will be divided, and the fight to keep Shiraishi Nobuki out of prison continues, even if the money won’t come back.

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