Long Term Request: 1.5 BTC... details inside... open to ideas !

[MoreBloodWine]

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[Vod]

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..

[MoreBloodWine]

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.

[Brob12321]

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.