{"id":6205,"date":"2023-11-16T10:08:42","date_gmt":"2023-11-16T10:08:42","guid":{"rendered":"https:\/\/getincome.com\/blog\/?p=6205"},"modified":"2023-11-16T10:36:32","modified_gmt":"2023-11-16T10:36:32","slug":"important-announcement-regarding-clickcash-repayments","status":"publish","type":"post","link":"https:\/\/getincome.com\/blog\/important-announcement-regarding-clickcash-repayments\/","title":{"rendered":"Important Announcement Regarding ClickCash Repayments"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"6205\" class=\"elementor elementor-6205\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1363390 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1363390\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a937798\" data-id=\"a937798\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fbdb4fc elementor-widget elementor-widget-text-editor\" data-id=\"fbdb4fc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">We would like to provide an important update on our ongoing efforts to address the repayment concerns related to ClickCash (CC). After persistent discussions with ClickCash management, we have successfully formulated a specific plan to proceed with the repayments in December of 2023. Our primary objective is safeguarding your invested capital and ensuring that ClickCash meets its obligations. Here are the key points of our plan:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Reorganising ClickCash Debt payments:<\/b><span style=\"font-weight: 400;\"> To address the concerns of our investors and the challenges with timely payments, we have agreed to reorganise ClickCash&#8217;s debt towards our investors with the help of Income.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Monthly Repayment Commitment:<\/b><span style=\"font-weight: 400;\"> Starting from the next month, ClickCash is committed to repaying a fixed amount of \u20ac5,000 per month. This commitment aims to ensure a steady and predictable flow of repayments to our investors.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Income as a Bridge Payment:<\/b><span style=\"font-weight: 400;\"> In case ClickCash is unable to meet the \u20ac5,000 minimum repayment requirement, Income will step in and act as a bridge payment to cover the difference from its own pocket. It&#8217;s essential to clarify that this assistance from Income is limited to ClickCash and will not affect other lending companies<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Priority on Principal Repayment:<\/b><span style=\"font-weight: 400;\"> Our repayment plan prioritises the principal amount, ensuring that the capital you invested is returned as a first priority. Any remaining funds will be allocated towards interest. Currently, the principal amount that remains in recovery is <\/span><span style=\"font-weight: 400;\">\u20ac147,991.79. <\/span><span style=\"font-weight: 400;\">Income is willing to move in and support the payment schedule from its funds to a) provide investors a clear schedule for repayments and b) to allow investors to get back, at minimum, their invested principal. If the ClickCash collection provides enough funds over the principal, then the interest payments will also be paid to <\/span><span style=\"font-weight: 400;\">investors.&nbsp;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Security Mechanisms:<\/b><span style=\"font-weight: 400;\"> We would like to emphasise that our security mechanisms, while not leading to legal escalation at this point in time, remain in place. ClickCash&#8217;s situation is problematic due to the small size of its loan book, and a full-scale legal action with associated costs would consume a significant portion of the outstanding book. Given ClickCash&#8217;s cooperation and the solution we have on the table, we have chosen not to employ these mechanisms, but legal action remains a viable option.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Enhanced Loan Originator Selection Process:<\/b><span style=\"font-weight: 400;\"> We have learned valuable lessons and identified risks with small loan books that hinder the working of our security mechanisms. After encountering the problems with ClickCash, we have amended our internal processes and rules for selecting upcoming Loan Originators (LOs). We now have more stringent loan book size commitments and preconditions for onboarding, aiming for LOs with loan books large enough to cover the legal costs.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">We are grateful for your continued trust and patience as we work through these challenges together. Rest assured, we remain fully dedicated to safeguarding your investments and delivering on our commitment to you.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thank you for being a part of our community, and we will continue to keep you updated on the progress of ClickCash&#8217;s repayments.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can find more information regarding the ClickCash repayments <\/span><a href=\"https:\/\/getincome.com\/blog\/clickcash-suspended-from-listings\/\"><span style=\"font-weight: 400;\">here.<\/span><\/a><span style=\"font-weight: 400;\">&nbsp;<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>We would like to provide an important update on our ongoing efforts to address the repayment concerns related to ClickCash (CC). After persistent discussions with ClickCash management, we have successfully formulated a specific plan to proceed with the repayments in December of 2023. Our primary objective is safeguarding your invested capital and ensuring that ClickCash [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6206,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,27],"tags":[20],"_links":{"self":[{"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/posts\/6205"}],"collection":[{"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/comments?post=6205"}],"version-history":[{"count":7,"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/posts\/6205\/revisions"}],"predecessor-version":[{"id":6213,"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/posts\/6205\/revisions\/6213"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/media\/6206"}],"wp:attachment":[{"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/media?parent=6205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/categories?post=6205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/tags?post=6205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}