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Macdos

loan rules

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i think we need this rule so that we know whats right and whats not when it comes to loaning...you can post ur thoughts or suggestion about loans here and i will just add it to the rules..

1.loan interest should not go more than 50% of the original loan amount.

this is for the loaner not to think to run away from their debt...

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45 minutes ago, ravenyvolle2 said:

50% interest a day is a bit too much:P

Altcoins as your collateral would be a good help as well.

its not a day, I mean in case loanaer is not able pay maybe for more than a week, the interest should not go more than 50% of the original loan

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6 hours ago, Macdos said:

its not a day, I mean in case loanaer is not able pay maybe for more than a week, the interest should not go more than 50% of the original loan

Not fully agree, my friend... Than borrower can hold lenders funds for looong time, just saying, he can't pay. And lender can't re-loan his funds to another. Funds are frozen. And if every second borrower will do that?

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4 minutes ago, akki785 said:

I think one option should be added is the loan interest paid in daily basis. In this way lender will have the chance to multiply the interest amount by giving loan to someone else..

If it's a loan, f.e., 50k, 10% interests, it's 5k per day. Minimum tip is 10k...

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10 hours ago, lupandina said:

Not fully agree, my friend... Than borrower can hold lenders funds for looong time, just saying, he can't pay. And lender can't re-loan his funds to another. Funds are frozen. And if every second borrower will do that?

in this way...loaner will never think of runnig away...its just a suggestion...not sure if it will work or not

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16 minutes ago, Macdos said:

in this way...loaner will never think of runnig away...its just a suggestion...not sure if it will work or not

i said same thing as lupandina at chat if borrower dont want to pay more interest than capital amount they must pay on time so interest will be low otherwise borrower will hold coins as much as they want and that will be bad for lender

so if you want to take loan ask how much you want how much interest for daily and how many days you can pay at max ask it if lender find it suitable will lend from now on as a borrower you have to honor your deal on time if you dont want to pay more interest

one more note if borrower has intention to run away from the beginning you cant do much even without interest loan will turn out scam dont forget that

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20 minutes ago, hamur said:

i said same thing as lupandina at chat if borrower dont want to pay more interest than capital amount they must pay on time so interest will be low otherwise borrower will hold coins as much as they want and that will be bad for lender

so if you want to take loan ask how much you want how much interest for daily and how many days you can pay at max ask it if lender find it suitable will lend from now on as a borrower you have to honor your deal on time if you dont want to pay more interest

one more note if borrower has intention to run away from the beginning you cant do much even without interest loan will turn out scam dont forget that

ok, maybe your right,  ill make like 10 loan rules, trying to think of what I will put on it.

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Well, here are two sides, who must make a decision.

1. Lender - he must check borrowers reputation, earlier loans, activity and so on. Give a loan is very risky - we all know, it's just a website, just accounts, no garanties, so lender are just making a bet on borrowers conscience. That's why interests are high. In fact, it's easier to make 10% profit per day by betting on mines :D 

2. Borrower - come on, you are asking for loan, and you will use it for gambling. Reasons are different - some are waiting for salary, some depo stuck in another site, etc, it's normal. But you must know for real, when you will pay back and from witch money, I mean, when and how much you will depo. Borrowing just with hope to win, and saying "2-3 days" just so - it's bad. In that case you really can pay a lot of interests, and it's not lenders fault...

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On 1/23/2018 at 11:43 AM, Macdos said:

its not a day, I mean in case loanaer is not able pay maybe for more than a week, the interest should not go more than 50% of the original loan

The seeker is the one who must offer how much interest he/she would like to pay, if someone (the "lender") will agree to his/her offer, transaction will push through, otherwise, the seeker needs to adjust, especially when the seeker has no collateral to offer. IMO, the forum cannot set a 50% limit rule as no lender might want to lend anymore.

 

14 hours ago, Macdos said:

ok, maybe your right,  ill make like 10 loan rules, trying to think of what I will put on it.

You can make rules just like the pinned thread in the Lending section, but should not affect the "agreement" (e.g., how many days should the loan be, how much is the maximum interest) because again, it should be a seeker-lender agreement, unless otherwise the lender is abusing the service.

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