You might want to do some homework about how a company collects and the legal frameworks that need to be accomplished if you think this is an easy task. If it was easy, you'd see many companies doing this.
We are always looking into ways we can do this in the future. Not sure what you know about collections process but it is very difficult to do this as a company. There are many legal hurdles that we'd need to accomplish in order to do this and I'm not so sure we are going to be able to do this right now. Would we want to collect for you guys? Yes. Is it something that we think about and try to figure out? Yes. Is is something that gets done in a week? Sadly not.
If it's not easy for easy for you imagine how easy it is for your investors!
The way you are dodging your responsabilities is very disturbing.
You advise to invest small amounts into each loan and then you say you have nothing to do with collections.
So people from all over the world each with a $5 investment have to do all the work to make collections?
Basically what you saying here is that
defaulting won't have any consequence at all.
Im not saying that at all, what we say is take the risk into the model when you invest because we calculate this and diversification is a good way to have positive returns given that we do this. There are people who use arbitration to go after borrowers with success and they usually buy up notes to do this providing other lenders with liquidity (even if it is at a fractional amount). It actually is easier for a lender to go after borrowers with these agreements then it is for a company to get aligned and formed properly to do this in house. Thats what I was saying.