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I repaid a loan late, always was in contact of the lender and he is very happy that I have repaid and does not need any additional interest. So now do I deserve red trust ?

Looks like I am not the only one .-.

Absolutely. And considering your immature behavior, you just keep digging that hole deeper.


Whatever happened to staying calm and trying to rectify the situation like a normal civilized adult? If a user does not trust you, approach them courteously and fix the issue at hand. If it is unreasonable, create a thread, but don't start spewing bullshit like a goddamn asshole volcano. Your vendetta only serves to destroy any chance you have of changing that trust.

This is a lie, you didn't JUST pay the loan late. You didn't pay the interest you were supposed to.

Good day!

Business-wise, I think you still deserve a red trust rating because you have not make good your payment at the time it is due and demandable. Although even the law can lean towards borrowers who make good their obligations within a specified amount of time as grace period, I think it is more important to honor commitments as originally agreed upon than the application of other remedies should you fail at making good your original obligations. My point is, you may have cleared your obligations at a later time but that does not change the fact that you failed to meet what is expected of you at a time certain.   

So when a user fails to repay a loan, he will expect to receive (multiple) rating(s) from others warning others about lending to this person. The borrower's main economic motivation to repaying a loan he is already late on is for the negative trust to get removed (and potentially be replaced with a neutral rating about the late repayment).

In "the real world" it is very common for people to make late payments late, and to have isolated incidents of repaying a debt past the deadline. Lenders are frequently just as happy to receive a payment on the 31st as they are on the 1st, especially if they receive a late fee of some sort if received on the 31st.

I would opine that as long as the lender is happy, there is no real reason to leave a negative rating if a loan is repaid. 

This means that he are still in debt to you.


@OP. You have a lot loan default on your past and you received many negative feedback for that action. Just drop it and faced the consequences of your action and don't harass lauda. 

Yes.  Anyone would be a fool to trust you with money, as you have demonstrated.  I can't totally believe you were lame enough to create a poll about this, so hopefully the results don't shock you.  More to the point, did you not say you were leaving this forum?  What the matter, can't you find the door?  I'll help you:  There are a blue row of 8 doors right underneath your avatar space, and it's labeled "LOGOUT".  Do this and don't return.

Then there's this fact, which contradicts
So you're full of it.

Yes, repaying a loan late and not paying back the interest owned means you are still owning the money to the person that borrow you money, you do know you have to pay interest when you took the loan and you took the loan willingly.

If I remember correctly it took "a few more days" (than 1), and OP did not pay the "late fee" (last time I checked)...

Further more, OP states he;


and - again, if I remember correctly - this was not the case: IMHO if you're going to be late you should contact the lender in advance, not after the fact...

Wait, wait, wait! First, please, go to your profile settings and change your email and password to some gibberish and then log out...  ;D

No you don't deserve red trust.

Says the newbie with red trust themself. ::)

You also have big red trust.

I have enough proofs which confirms that you didn't needed that extra interest unless Lauda convinced you. You clearly told me YOU DONT NEED ANY EXTRA AT ALL, SHALL I POST IT ? I MEAN THE PROOF

No convincing is required. His thread states that the interest rate is a fixed percentage per day. You only paid back the interest for the initial duration of the loan and not for the extended time that it took you to repay.

Just because favours may be in such a financial situation in which he does not need the interest, that does not mean that you were not supposed to pay it.

I can show you 100+ loans where borrowers paid late and there was not additional interest paid, are you promising me to give negative trust to them all ?

Bro if you said from start that you will pay a loan you must pay it in time and I think that if you not pay in time that you deserve negative trust.For me that is like breaking a law and you  need to be punished with some way.

I can show you 100+ loans where borrowers paid late and there was not additional interest paid, are you promising me to give negative trust to them all ?

I first saw Favour's Lending Service (https://bitcointalk.org/index.php?topic=1851570.0) thread when he had already realized he was going to lose his money loaning more than the "sales value" of the accounts that took a loan. I was surprised a thread like that existed, that whole thread was almost an invitation to get scammed.
I was expecting mainly people who don't value their account to join, and indeed, most of them don't care about red trust after taking the money.

Usually I only read the Reputation-section/trust-fights with a big bag of popcorn, but since you asked for opinions, I'll give you mine.

I got some time to spare, let me make a timeline first:

• You took the loan (https://bitcointalk.org/index.php?topic=1851570.msg18423618#msg18423618) on April 2, and had to pay back within 7 days. Interest on 0.05 BTC should have been 0.0105 BTC for 7 days.
  12 days later (https://bitcointalk.org/index.php?topic=1851570.msg18590196#msg18590196) you said you didn't pay back yet and "asked for more time" without getting a respons. This means you didn't get more time, but you took it anyway. You did not pay here. 5 days later (https://bitcointalk.org/index.php?topic=1851570.msg18623952#msg18623952) favours says you didn't discuss anything.
• On April 17 (https://bitcointalk.org/index.php?topic=1851570.msg18617591#msg18617591) you got alerted by trust on your profile, once again (https://bitcointalk.org/index.php?topic=1851570.msg18622829#msg18622829) saying you'll "repay in a few days". You did not pay here.
• On April 22 (https://bitcointalk.org/index.php?topic=1851570.msg18688698#msg18688698) you made a "public apology" asking if it's okay to send the payment right away. favours accepted (https://bitcointalk.org/index.php?topic=1851570.msg18690963#msg18690963). Right after this (https://bitcointalk.org/index.php?topic=1851570.msg18693566#msg18693566) you mentioned you agreed for 0.055 BTC, lower than what would be expected based on the thread, but I can imagine favours agreed (https://bitcointalk.org/index.php?topic=1851570.msg18694062#msg18694062) to this only in the hopes to get at least something back. You did not pay here.
• After favours opened a Scam Accusation thread, on May 9 (https://bitcointalk.org/index.php?topic=1907955.msg18937009#msg18937009) you asked for 24 hours to repay the loan. You did not pay here.
• On May 10 (https://bitcointalk.org/index.php?topic=1907955.msg18957095#msg18957095) you argue the lender is happy so you should get more time. What made you think he is "happy" chasing his money for 5 weeks? Minutes later (https://bitcointalk.org/index.php?topic=1907955.msg18957246#msg18957246) favours says "your time is up" and - as expected - he doesn't sound happy. You got yourself another 12 hours (https://bitcointalk.org/index.php?topic=1907955.msg18957624#msg18957624) to repay. You did not pay here.
• On May 11 (https://bitcointalk.org/index.php?topic=1907955.msg18969352#msg18969352) you ask for the address to send the bitcoins "right away". So all this time, when you were claiming you would pay back the loan, you didn't even know the address to send it to.
• On May 12, you paid back (https://bitcointalk.org/index.php?topic=1907955.msg18984752#msg18984752) 0.0625 BTC

I might have missed some details in the timeline, but the overall picture is clear. This leaves me to conclude you only paid back because of the red trust, hoping it will disappear again (https://bitcointalk.org/index.php?topic=1907955.msg18937009#msg18937009). And although that's entirely up to Lauda, I think you deserve it. You have shown many times you don't keep your word (https://bitcointalk.org/index.php?topic=1907955.msg18939714#msg18939714). If you would have done this to me, I would never trust you again. Your personal vendetta (http://archive.is/CuIot#selection-1083.0-1371.176) against Lauda doesn't make your case look any better either.
How would you feel if you have to beg someone for 5 weeks to get your own money back?
This thread once again confirms you only paid back to get the red trust removed.

Excellent breakdown.

---

Someone said that paying off a defaulted loan to change a red trust to a neutral is the same as paying for trust since it's a net gain of trust either from neutral to green or from red to neutral. (I will add the link/quote here if it is sent to me)

I agree with this stance but think that account owners should be given an opportunity to rectify their trust. However, when the owner throws temper-tantrums and creates several threads deprecating the user (Lauda) who gave them the negative feedback, I believe that is immature and we should all express our disapproval. This would increase the duration of time before reconsideration of his rating (or would prolong it for eternity) and if the user continues this behavior, I would simply ignore them and report them for spam.

---

This is what's happened several times and the same result will occur: the user will rage and blast away with replies trying to dig up any irrelevant piece of information they can find and try to ad-hominem attack the ones that gave them negative feedback and/or post retaliatory feedback upon others. It's only a matter of time until the ban. ::)

Haha you dont have reply ? Basically you cant tag those 100 people then only me ?

Ahahah good one.

Well lenders (especially those who are not holding any kind of collateral to secure repayment) will frequently waive late fees in order to entice borrowers to repay. It is also not uncommon for lenders to waive and/or reduce the amount of interest owed (and sometimes even portions of the unpaid principal balance).

I guess my point is that the removal of negative trust after late repayment of a loan to the lender's satisfaction is a collection tool that lenders can use to entice repayment of money owed to them. This is especially important because this is probably the only collection tool that most lenders are going to have considering that most loans made are written in a way so that most courts would probably not enforce them (I don't think courts would grant a judgment against a borrower whose identity is known, and the receipt of funds for the loan and lack of repayment is not disputed).  

If it becomes the norm for negative trust to be given once a loan is one day late (or any other period of time late), then borrowers will probably stop repaying money they owe once they are even a minute late.

That's a childish argument,  and it doesn't make you any less guilty of jerking favours along until you finally got some consequences.  The nail that sticks out is the one that gets hammered,  and you did that to yourself by making a spectacle of yourself by complaining very loudly and very publicly.   You're on the losing side.  Stop whining like a Filipino child or whatever you are and just take this like a man.  Actions have consequences.

The subject of a member receiving a negative rating for repaying a loan late would have to be taken on a case by case basis. Life is not predictable, problems can arise at anytime and interrupt set plans, the main thing is that you stay in contact with the lender and pay the loan off in full including interest as soon as you possibly can.

In this case i would say the negative is warranted, it has been placed on the account to warn other lenders that although the user did repay the loan they did not fulfill their side of the agreement by paying the interest incurred on the loan.

Just going by the timeline from LoyceV post it took you 40 days to repay a 7 day loan, then when you finally sent favours back some bitcoins it was only just enough to cover the interest incurred.

Favours charges 3% interest per day on his loans so your loan of 0.05btc was costing you 0.0015btc per day in interest.
After 40 days the interest alone comes to 0.06btc for the original 0.05btc loan, if you repaid 0.0625btc then i would say that you still owe favours 0.0475btc and if favours personally sees this loan as still being outstanding then that 0.0475btc you owe him would be incurring interest of 3% per day (0.001425btc)
As you can see interest is something you really have to keep an eye on or it can get out of control very quickly.

 

In my opinion you deserve a Green trust, but that's life You have money ;you have power, you have power; you have everything.
All the people who answered yes, do not really think so but they answered it just because it is Lauda who tagged you, he(SHE)is the king (QUEEN) here in this forum  ;).

I say no, you don't deserve a reed trust

He only paid with inital amount and some interest but only for some days ( i forgot the exact time). He must pay the full interest he supposed to pay to the lender because when he asked for a loan he should take all favour's rules, including how much interest he must pay

Do not be sad guy, always take life on the good side, with the red trust I'm sure that peoples has nothing to fear from us, we are the only ones that do not represent a danger in this forum, people Must be wary of those who have more serious histories like extortion and other and that are still in green.
receive a red trust because of repaying a loan late is nothing, receive a red trust because you have an alt is nothing, receive a red trust because of non payment of your loan is nothing since your collateral cover the loan; but  extortion attempt (https://bitcointalk.org/index.php?topic=1764757.0) is something.
I think there is a person who could come out unscathed; The lady in red dress , even Satan will not resist its power

Well brother I see for some reason you are supporting me which is good and really thanks I appreciate it.

Anyone who is saying to me that I should have paid full interest, I have messages and skype history clearly confirming that the lender DID NOT WANTED ANY ADDITIONAL INTEREST AND HENCE I PAID WHAT HE WANTED.

But well, I believe in God and I hope Lauda too does :) if you don't by chance, then well you got a single life, right ? Better take some blessings rather than curse isn't it Lauda ?

Even favours ( the lender ) messaged Lauda that he has got paid please remove the trust, but well well Lauda has convinced favours to ask more interest and favours being a big gambler is now loving that.

https://talkimg.com/images/2023/06/07/wKdvT.png

posting for reference

^^This is indeed a worse scam, but I see it on this forum so frequently that the depths these shitballs stoop to no longer surprises me. 

During my first year here I would always post that I thought Theymos should just nuke the lending section, investor-based games, and something else--I forget--but I gave up on that.  I don't have statistics, but it seems like the ratio of successful loans:total scams is extremely low.  Low enough that that whole section is nothing but a festering snake pit.  And why?  Because you have people with attitudes just like this:  "I'll only repay the loan if you remove my red trust".  It's total bullshit.

By the way, TimSweat is still a total scumbag.  But that's way off topic.

Well if you are granted an extension and you ask before due date, you do not reserve red trust.
But if you do not get an extension, but still take the extension on your own, you do reserve a red trust.
No one wants to lend to a person, who does not abide by the contract they have made from person to person, just like you did not honor the contract between you and lender.

Not only me. Many users supporting you.

[quote author=LoyceV link=topic=1917415.msg19052884#msg19052884 date=1494960188]
I first saw Favour's Lending Service (https://bitcointalk.org/index.php?topic=1851570.0) thread when he had already realized he was going to lose his money loaning more than the "sales value" of the accounts that took a loan.[/quote]

This guy gets it.

https://talkimg.com/images/2023/05/17/blob043387f29fb0b1a9.jpeg

As to @MargonCreatives: Banks report to each other a lender's credit worthiness to other lending institutions; the same thing is happening here, only out in the open on your trust wall...

Basically, you are untrustworthy. http://archive.is/SoinD#selection-16193.0-16193.33