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Author Topic: 7-day auction: 1784.38 BTC in Shakaru debt  (Read 5400 times)
Justin00
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April 10, 2012, 12:28:54 PM
 #81

Now that your auction has ended I shall ask the question..... as I am quite interested in this hole lending/borrowing process for various reasons........ (Im not interested in borrowing)

Anyways if the fellow owes you like ~$10k and you know who he is etc etc why dont you go 'get' the money off him ?
I am confused by what seems to be going on.... no offence to anyone, I am new here.. and just observing... =)
 

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payb.tc
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April 10, 2012, 12:56:13 PM
 #82

Now that your auction has ended I shall ask the question..... as I am quite interested in this hole lending/borrowing process for various reasons........ (Im not interested in borrowing)

Anyways if the fellow owes you like ~$10k and you know who he is etc etc why dont you go 'get' the money off him ?
I am confused by what seems to be going on.... no offence to anyone, I am new here.. and just observing... =)
 

not sure if you asking me or kluge, but i didn't go get the money off him because a) i didn't believe he physically had the money/assets to cover the debt, and b) it's a very long, very expensive flight just to turn up at someone's house with a mean look on my face... then what?
Justin00
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April 10, 2012, 02:21:19 PM
 #83

Now I am not saying you should do this (being a public forum) an all... But a stern threat usually gets the job done.
even if it costs you a few $$$ to get someone else to do it.  People with no assets/money etc etc manage to find a way to pay up if they have to.
First they tell you there sick, then next week there uncles neighbors cat died etc etc etc..

Again, I mean no disrespect in regards to the way you have handled it. I have 0 background knowledge of this specific case (or BTC loaning) so its easy for me to make comments hehe.. The auctioning it off part is a smart idea and could end up creating a few positives out of bad situations in the future which is good Smiley




John (John K.)
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April 10, 2012, 02:52:22 PM
 #84

Actually, you could sell this loan to one of those collection agents if I'm not wrong. Why no one has taken this route yet?

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likuidxd
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April 10, 2012, 03:25:07 PM
 #85

I was buying shakaru's debt on the forum, still am but wasn't interested in this particular auction. Probably should have been more interested Cheesy 5.45%!

Justinm001, I hope you don't work with people regularly. Threatening people is a horrible way to conduct business with others and usually makes things worse.  With a debt this large, contact with the debtor and patience is key. You can't get money out of someone with no assets, threatening them to pay you what they don't have is just idiotic.

Kluge
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April 10, 2012, 04:15:50 PM
 #86

Now I am not saying you should do this (being a public forum) an all... But a stern threat usually gets the job done.
even if it costs you a few $$$ to get someone else to do it.  People with no assets/money etc etc manage to find a way to pay up if they have to.
First they tell you there sick, then next week there uncles neighbors cat died etc etc etc..

Again, I mean no disrespect in regards to the way you have handled it. I have 0 background knowledge of this specific case (or BTC loaning) so its easy for me to make comments hehe.. The auctioning it off part is a smart idea and could end up creating a few positives out of bad situations in the future which is good Smiley
Shak's been pretty well-harassed, IMO. It's unpopular with other debt-holders, but I think it'd be quite reasonable at this point to settle for 10% of the total settlement debt. Unless he's leaving out a cache of 50 or so 7970s in his liquidation thread, the thread parting everything out is fairly irrelevant in paying off a significant portion of the debt. All it serves to do is provide a crushing sense of any future gains needing to go toward debts the lendee regrets. It can work with student loans if the student gets a job paying significantly more than the person would've earned otherwise, but I think you'd have a Hell of a time collecting from a student who has not effectively benefited from the loan.

Before I read the thread, I was hoping to get a few cards sent to me at a discount over my own purchase price, then call the debt settled. Seems extremely unlikely at this point. Liquid, if you're interested in buying, I'm interested in selling. The best offer I have now is 45BTC on half the debt I bought.

Don't mix your coins someone said isn't legal
likuidxd
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April 10, 2012, 04:25:59 PM
 #87

Before I read the thread, I was hoping to get a few cards sent to me at a discount over my own purchase price, then call the debt settled. Seems extremely unlikely at this point.

We discussed this and decided it wouldn't be fair to the other debt holders to do this, I thought about it myself.

If you are interested in selling the complete debt, I may be interested but it will not benefit you to sell it to me as I will not pay a premium on what you paid. If you just want out, PM me otherwise don't waste a PM on me Smiley

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April 10, 2012, 04:31:51 PM
 #88

Before I read the thread, I was hoping to get a few cards sent to me at a discount over my own purchase price, then call the debt settled. Seems extremely unlikely at this point. Liquid, if you're interested in buying, I'm interested in selling. The best offer I have now is 45BTC on half the debt I bought.
Oh shit, that was fast!

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