Ninjastic
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Re: Forum Loan defaulters: What is the best way forward?
by
Davidvictorson
on 13/11/2023, 20:31:17 UTC
Quote from: CryptoHeadlineNews on Today at 12:25:52 PM

3. Do not give a loan amount to anyone whose  his/her full 3 months signature campaign payment can not afford to settle such loan:


Imagine a person earning $50 weekly come and asks for a loan of $500 from a lender, because to me, no matter how active such person may have been on this forum, such loan should not be granted, as it is a complete red flag. As the only loan that should be given to people is an amount which his/her Full signature campaign payment could be able to able to pay between 1 or 2 months, because normally nobody will want to be giving out his full weekly payment, and as such if then happens to pay half, then it will be able to take him 2 to 4 months to complete his loan payment.

I am not conversant with the loans terms and conditions on this forum but I have to say that I do not  completely agree with you here. While weekly earning may be one of the criteria for approving a loan request, I do not think that it should be the sole criteria. A person who is earning $50 from a campaign weekly may be earning so because that is tha budget of the signature campaign management. In addition, there are other ways of earning money off the forum to be able to repay their loan. These should be taken into consideration and left at the discretion of the loan giver.