Forum Loan defaulters: What is the best way forward?

[_BlackStar]

However, What have you to add to this, as your opinion will be very important to those that have been lending loans here on this forum. (e.g Shasan, DarkStar, Condoras).

Reject the loan request of anyone the lender trust they are potentially scammer - the rest is up to them. I think lenders know what the consequences of building such a service on a forum are - especially since it's all done anonymously.

Let them manage their own risks and be responsible for their services - we only help as much as possible to support flags and negative tags for anyone who has scammed the lender. So if you really want to open such a service - then the 4 thread pinned on the loan board are very useful to consider.

1. Lending Board Rules of Engagement - Attention Lenders and Borrowers
2. [EDU] The Rule of "No Collateral, No Loan" - IGNORE AT YOUR OWN RISK!
3. [EDU] How to spot a scammer (Read this before lending your coins!)
4. [EDU] EXERCISE CAUTION WHEN LENDING TO USERS!

[Timelord2067]

A simpler solution is to not give loans to *anyone* unless they provide collateral of a minimum of 125% in a similar disposable crypto.

I'm less inclined to support a flag if the lender hasn't secured collateral.

[Mpamaegbu]

Frankly, I feel for Shasan. I saw that thread about him of Edwardard. Here's a member who's trying to run a genuine business but they're getting battered by those with evil intention not to reciprocate his kind gesture. It's heartbreaking to lose money to criminals whom you think need genuine help, not knowing their game plan is to scam you.

what I will like to suggest is that if possible lender should try to confirm from the manager who is managing their campaign to know how long it would last...

You can bet that most managers don't know how long the campaigns they mange will last. Sometimes, they're told it's a three-week campaign but it stretches into months and years and sometimes the reverse is the case.

...this should be based on your account rank, for full members $100 to $150 max, for Sr. member $150 to $300 max, then for Hero/legendary $300 to $600.

I like the rank panacea to the whole thing with a loan structure that will best suit the lender. Yes, I know it's going to affect genuine low ranked members who may need higher amount of cash. Anyway, it's what it's. Lenders have to find ways to defend their businesses before retards run them out of business.

[Adbitco]

what I will like to suggest is that if possible lender should try to confirm from the manager who is managing their campaign to know how long it would last...

You can bet that most managers don't know how long the campaigns they mange will last. Sometimes, they're told it's a three-week campaign but it stretches into months and years and sometimes the reverse is the case.

Though there are some manager that always indicates that "this project is a long term campaign" meaning the manager has gone into deep discussion with their clients to know how long it would last. It's true some but maybe those ones they are not sure of, seeing my fellow man losing such amount of money is very saddened know how hard is the present economy globally and I wish there will be a solution to this to avoid further damages.

[CryptoHeadlineNews]

As stated on lending board, IMO "No Collateral, No Loan" is best approach here.

1. Do not give a loan to an account that may have been found to have woken up after a very long time:
2. Do not give a loan to anybody whose wallet address shows he/she has not been receiving  inflow of funds for the past 120 days:
3. Do not give a loan amount to anyone whose  his/her full 3 months signature campaign payment can not afford to settle such loan:

2. Most Bitcoiner have habit using one Bitcoin address only for one purpose. And IMO it's poor factor to determine whether someone will repay or not.

Yes, inasmuch as most people have a wallet which they use for different purposes, for me I think when it comes to do with this forum, that same wallet been used for a signature should be the exact same wallet been used to apply for a loan, as that is the only way to prove the person applying for that loan is actually the true owner of that account, because you never can tell, a person's account can be hacked and used in applying for a loan. Which is why I added that exact reason, because a wallet been used for a signature campaign is sure of having an inflow and outflow of funds.

3. Why 3 months specifically?

Alright, thanks for asking me this question,. I chose 3 months specifically simply because just as traditional banks who has our complete informations give loans whereby if a user intends to be paying half of his salary he should be able to complete his loan payment in 12months. When it comes to this forum, I thought as much that since everybody here is anonymous, if anybody is to be given a loan, at least it should be an amount by which if he is been asked to pay his full weekly campaign payment for 3 straight months, at least that amount should be able to afford him complete his payment, whereas, if he is asked to pay half weekly, at least with 6 months such individual should be able to settle his debt. And nothing more than that.. (i.e Assuming signature campaign is his only source of income). While anything above that amount, should be base on the level of trust between the lender and the borrower. Thank you

[Timelord2067]

Have you invited anyone who facilitates loans to participate in this thread?

[KingsDen]

• Any lender that is offering to any random user of the forum without a collateral is doing so at their own peril
• Any lender giving loan to full member rank and below is doing so at their own peril because their account might not be collateral enough
• Any lender who gives higher amount of loan to people that are not in a long lasting campaign is also taking risks

Generally, I admire the courage of people who gives non collateral loans to non reputable members.