This is it kids, we've discussed it again and again and I think it's time we do this properly.
We need two things:
1. A debt collection agency
2. A way of registering and scoring individuals.For the first I propose the following:
I am creating a debt collection agency. On behalf of the agency I will need local collectors in various areas. The financials will be arranged as follows:
a. "Buy Out Plan": I will buy off the debt off your back for 20% of its value; or
b. "Collection Plan": I will collect it on your behalf and keep as a fee 60% of it.
As I can't be everywhere I will require the assistance fo local debt collectors who will receive (risk-free) 40% of the fee in Plan A (Buy Out) and 60% in Plan B (Collection). As I will be buying the dept in Plan A and thus putting myself in risk the collectors will get less obviously so the Agency can brake even. In Plan B (simple collection) the agency gets a minimal fee for doing the background research and facilitating the service but the collectors get the bulk of it.
I provide you with the following example for a debt of 200BTC:
If the collector gets the debt from the debtor they get paid their percentage either way they have nothing to lose.In regards to part 2 of my proposal
, I propose a scoring system similar to that used by Dun & Bradstreet. Each physical or legal person gets assigned a nine digit number. This number is linked to a historic score that changes as the legal of physical person's situation changes. The Agency will be responsible for veryfing their identity and maintaining an up-to-date database. Participation is voluntary.
As an example, Party A would like to do business with Party B, Party A can request for a fee Party B's number, score (based on trading history, character, age, location and other risk factors) and associated report (private and confidential information of Party B will NOT be released to Party A just an indication that they are on file). In the occasion where Party B is not in the database, a request will be made directly to Party B by the Agency without necessarily naming Party A.
1. Party B retains the freedom to decline to voluntarily provide that information. Party A will be informed and they can make their own conclusions if they want to go ahead.
2. Party B, chooses to participate in the database, pays a fee, provides the relative documentation and is assigned a number and a score.
It goes without saying that anyone can volunteer without waiting for a request.
In case Party B is indeed a scammer and the information provided by the Agency have been wrong and a debt cannot be collected by the Agency, the Agency will use its own funds to repay up to 60% of total sum to Party A.
Ideas, Input, Interest, Corrections? Let's discuss...