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Title: Long Term Request: 1.5 BTC... details inside... open to ideas ! Post by: MoreBloodWine on October 09, 2016, 09:23:03 AM ....... ;)
Title: Re: Long Term Request: 1.5 BTC... repaid w/ 2017 tax refund. Post by: Vod on October 10, 2016, 01:11:05 PM Would you be OK with the lender working out an agreement with your HR department to garnish your paycheck should you default? That would be considered collateral..
Title: Re: Long Term Request: 1.5 BTC... repaid w/ 2017 tax refund. Post by: MoreBloodWine on October 10, 2016, 01:14:33 PM Would you be OK with the lender working out an agreement with your HR department to garnish your paycheck should you default? That would be considered collateral.. So repaid by x date. x date passes so payments start if not paid in full by x date ?If that's the case, ya. But not sure how something like that wold even be done or could be done. Title: Re: Long Term Request: 1.5 BTC... details inside... open to ideas ! Post by: Brob12321 on October 23, 2016, 10:50:29 PM lol a wage garnishment can not be done without legal authority, in other words you would have to have a judgement brought against you by the lender and then after a few years of non payment/unresponsiveness the court may garnish 10% of your wages until the debt is paid off. This process will require you to hire a lawyer which will likely cost much more than the loan is worth.
However, you could theoretically set your direct deposit to deposit a percentage of your paycheck into the lenders bank account, but this can of course be undone at any time. Overall, I would say that using someones wages as collateral would not be a good idea at all. |