Quote from: KWH on June 16, 2015, 07:40:22 PM

IRL, you default, your credit takes a hit are are subject to fines, collections and possibly a court case. Even paid back in full, your credit carries the ding for quite some time.
Now for BTC related defaults. There is no real recourse (except the negatives) to collect the defaulted loan. Yes, it's a good thing to finally get repayment but it was done so on the defaulters terms, not the contractual terms agreed to. Is this what we really want? Defaulters deciding to just pop back up years later (maybe wanting to sell the account or it is hacked) when it suits them and to offer repayment to reinstate their Trust? Kind of like paying a penalty to reinstate an account to good standing, although it falsely shows the account in a positive light. If so, forget the contract between creditor and debtor, just roll the dice and see if they may want to pay not not. Lenders should stop lending because the defaulters now arbitrarily dictate the rules of the contract, changing as it suits them.
As far as any negatives, that should be up to the one that left it and the future (although now very suspect) actions of the defaulter.

Not quite true,

IRL if you have difficulties you let the lender know, which he did. They usually help you, give you extra time to pay, set up a payment plan, give you time to speak to charities/citizens advice and usually put a settled statement on your credit file once settled (neutral statement)

On here, if that happens, you get no help, just negative trust and it doesn't ever go to neutral and you get abused by idiots.

Most people or lenders wouldn't even give a shit for such a small amount of money anyway and usually would just write it off. Maybe people on here should show some mercy/trust once in a while. not everyone is perfect and not everyone who has money problems is a scammer.

I am not saying in this case this guy isn't a scammer, looks probable. but in general not everyone.