BTCJam and Loanbase

[InvestexMarkets]

BTCJam is good. I used them few times for loans. To be honest if you are legit and have the means to pay back then you will be accepted but like already said be ready to part with some ID doc's and other personal info to get a good credit rateing.

Also note if you default and don't pay back. ALL people who invested are entitled to your personal information for legal use.. so be warrned if you default your info goes to the people who invested.. read the small print..

[1715682850]

1715682850

[lumeire]

Anyone received new payments from loans that were already defaulted in LoanBase?

I happen to have received payments just now from 2 defaulted loans. Seems to me they're doing debt collecting work.

I received a micro payment but not the whole amount I invested on the loan just today on loanbase.

I received payments on about 3 more loans. Same with me. It's not the full amount of what I've invested not even close to 1/4. No announcements were made or a post on their blog regarding this.

[icanscript]

BTCJam is good. I used them few times for loans. To be honest if you are legit and have the means to pay back then you will be accepted but like already said be ready to part with some ID doc's and other personal info to get a good credit rateing.

Also note if you default and don't pay back. ALL people who invested are entitled to your personal information for legal use.. so be warrned if you default your info goes to the people who invested.. read the small print..

Not Strictly true, Even if you agree to something in a contract it can still be a breach of law in your country or state especially in the UK regarding Data Protection Act.

If I were to default on a loan and my personal information was given out to P2P lenders that would be a breach of The Data Protection Act 1998 and I could prosecute the company for this action. I have looked up this information for a friend and spoken to a lawyer about it.

[InvestexMarkets]

I agree but this company is not covered by the UK data protection act. and in the contact it dose state that your information can be given to investors for legal recourse if you fail to pay.

I would not be too sure that this law will cover you since they are not in UK and its not underwritten by UK / English or Scots law.
Its in the terms. You agree to them. i had a late payment before and was worried about it so made sure i Payed off my loan pronto.