Bitcoin Forum

Here's the deal. I have a pending social security hearing for disability benefits worth about 140k in backpay. Its set to go before a judge next month. I have all the paperwork from spinal, bone, blood, GI, psychiatrists and my primary care doctors and more whove filled out the necesssary paperwork to say im fully disabled and can no longer do the only job I did for 20 years nor answer telephones or be a Wal-Mart greeter. Pretty solid case.

When we win, my lawyer gets paid (maxes out at 6K for disability cases) and hed pay you the balanced owed plus interest. Would be able to have the lawyer send a notarized document with the agreement.

My situation is currently a tough one but outlook will soon be good. Is this something anyone would be interested in doing?
 

This seems quite fishy .Even if it is legit,how does one virtually fill the loan request and have the control of the documents or have a bond signed with your attorney ? You could find a local Money Lender ,he is more likely to fulfill this loan.Try updating your post with details including your location etc you might just have good luck with some bitcoiner around to do a meet-up.

I see your point. My collateral would be the SSDI winnings, however, I wouldn't be able to provide any digital collateral to clear things up.

What is considered collateral?

Collateral is something that can easily be resold to cover the loan value plus interest should the loaner default on the loan.

- The best collateral is another crypto-currency, such as Litecoin (also written as LTC).  Coins must be moderately traded on multiple exchanges.
- Some digital wares such as domain names can be considered as long as the user cannot recover it.
- Small valuable items that can be shipped though the mail - i.e. gold, silver, iphones, etc.
- Large items, such as a motorcycle or guitar can be used if you live close to the person giving you the loan.  Try localbitcoins.com (http://localbitcoins.com)

What is not considered collateral?

- Items they want to sell.  They don't want it back, so they will default.  It's scammy unethical behavior and will lead to negative trust.  Check their recent posts!
- Items not in hand.  Don't trust a user that promises to give you something *when* they default!  Tracking numbers only show something has been mailed - it could be an empty box.
- Future income.  You can prove you'll make xx coins in the next few days, but nothing forces you to send those coins to pay your debt.
- Identification.  So what if they can prove who they are.  Are you going to spend more money and time taking them to court on untested legal grounds?  You'll probably just walk away, like everyone does.  ID is useless.
- Games codes or similar.  To verify the collateral you need to use the code, which destroys the collateral.  Consider this a purchase, not a loan.  (Post in Digital Goods (https://bitcointalk.org/index.php?board=93.0) instead)
- Most new alt-coins or alt-coins that trade for satoshis are not good collateral as they can become worthless overnight.
- Paypal should never be used - they are anti-bitcoin and will rule against you 100% of the time.  Escrow can't even help, as paypal charge backs can come over 6 months later!
- Most valuable online accounts can easily be recovered by social engineering (the user contacting support to say they were hacked, and regain control of the account)  Examples:  Steam
 
When should you use Escrow?

 - Never send collateral directly to a low activity/post account offering you a loan, as they are likely to take your coins and disappear. (Collateral Scam)
 - Use only "Hero Members" or "Legendary Members" for escrow - they have a vested interest in the community with the time they have spent here.
 - Do not use a third party escrow service unless hero members can vouch for it - it's too easy to create a website, do a few escrows then disappear with a big balance.  Rinse and repeat.
- A list of trusted escrows can be found here:  https://bitcointalk.org/index.php?topic=855778.0
 
When considering the trustworthiness of a user, ignore "Posts" as there are schemes that pay a user per post.  A person can make 1,000 useless posts in one day and contribute nothing to the community.  Instead look at the "Activity" number - that gives you a more accurate tally of how involved the user is in the community.

Ignore the sob stories that users post - it's just a scam to get your coins.  If a person really is in such a situation, they can turn to family, friends or other social circles they frequent.  They are just posting in our community because the payment is anonymous and irreversible.

Here's the deal. I have a pending social security hearing for disability benefits worth about 140k in backpay. Its set to go before a judge next month. I have all the paperwork from spinal, bone, blood, GI, psychiatrists and my primary care doctors and more whove filled out the necesssary paperwork to say im fully disabled and can no longer do the only job I did for 20 years nor answer telephones or be a Wal-Mart greeter. Pretty solid case.

When we win, my lawyer gets paid (maxes out at 6K for disability cases) and hed pay you the balanced owed plus interest. Would be able to have the lawyer send a notarized document with the agreement.

My situation is currently a tough one but outlook will soon be good. Is this something anyone would be interested in doing?
 

I see your point. My collateral would be the SSDI winnings, however, I wouldn't be able to provide any digital collateral to clear things up.