Quote from: digaran on November 12, 2023, 02:47:39 AM

Having to pay such high interest rates, discourages anyone, but nevertheless they were fully aware what they were doing, so it's on them as well

I don't think that the interest rate was high initially because it was $1000 to pay $1050 but due to the extension of payback time was what compounded the interest to $250, that is why he is to pay the total of $1250.

Quote from: digaran on November 12, 2023, 02:47:39 AM

It's best to trust God and help those in need by lending money with 0 interest, when God says that he will return much more than you lend others back to you one way or the other, you just have to trust him enough, you know.

Yea, you are right but do you know that even if shashan lends people money with zero interest there will still be loan defaulters because some people have it in mind to collect loan and never to pay back, but I doubt if Edwardard case is the same. This is because he has spent so much time here in the forum and understands the penalty for his actions. I hope all is well with him.

Quote from: stompix on November 12, 2023, 05:29:26 AM

you should really limit the sums you're giving away with no collateral, or at least make a deal with them and the managers to receive at least 50% of their weekly payouts, one of these things and you're what, two-three months in red?

I agree with you on this, because this is how the banks in my country that gives loan to a government worker do. They will have a percentage that is been deducted from your monthly pay to enable them get their money back within a period of time depending the amount loaned out and the rich timeline.

Shashan can apply this method since loans are been given out to forum members in a signature campaign. This will enable him get back some percentage of his money should in case the lender has plans not to pay back the money for some reasons best known to them. Because tagging the account won't bring back sashan's money and he will keep on running at loss especially when the defaulters have alts in the forum.

$1000 is a big amount of money that can discourage someone that doesn't have much funds on him to stop the business. Shashan, sorry for the loss and I hope that Edwardard comes back to clear the air and pay up.