Question about getting a Loan

[Forthehorde66]

Hello, community. What is the main criteria for gaining a person's confidence that the person is trustable for a loan, is collateral obligated?

[N0sferatu]

On top of the lending sub you can find the stickies everyone should read first.

https://bitcointalk.org/index.php?topic=577765.0

The rule of "No Collateral, No Loan" means that in order to get a loan you must give collateral that is equal, or preferably higher to the amount you are being loaned.

If you completely ignore this sticky and make a loan request with no collateral, without having massive trust on the forum, the chances of you getting negative trusted feedback and therefore having a Trade with Extreme Caution tag is almost 100%.

So yes, collateral always is mandatory.

[Forthehorde66]

Thanks :-)

[TheUltraElite]

-snip-

But honestly speaking in this forum trust is gained only to be broken.

I have so many usernames take loans and then never come back. These people follow the same process as you have described, take non-collateral loans again and again return them on time and one fine day they are nowhere to be seen. Actually they are still here but having a new bitcoin address and a new username to scam someone else. In reality nobody can be trusted on the internet, those who give out non collateral loans are being generous so to speak.

[nydiacaskey01]

-snip-

But honestly speaking in this forum trust is gained only to be broken.

I have so many usernames take loans and then never come back. These people follow the same process as you have described, take non-collateral loans again and again return them on time and one fine day they are nowhere to be seen. Actually they are still here but having a new bitcoin address and a new username to scam someone else. In reality nobody can be trusted on the internet, those who give out non collateral loans are being generous so to speak.

I don't wan't to generalize that "nobody can be trusted on the internet", there's still a small tribe of good guys out there who are still true to their words online and offline. However, for those who are into the business of lending, it is part of their business risk. Just look at those who are taking car loans and don't payback on time and they just return the car after using it for a few months. That transaction is closed and sealed with a contract and that is after evaluation if the borrower can repay the loan. What more for those who are just taking loans online without collateral. Risk is 100x higher.