Quote from: Helena Yu on Today at 04:22:15 AM

I check his Bitcoin address, he received like $40 per week, 3 weeks already enough to pay the loan in full.

His income and his ability to pay are two different things. Regardless, I'm not defending the borrower. I'm questioning Shasan's policies.

Quote from: Charles-Tim on Today at 06:55:03 AM

Also if borrowing with interest is haram, no need for Muslims to borrow such money.

Is the borrower Muslim? I still don't know if Shasan is, I was only making an assumption. He has neither confirmed nor denied it.

Borrowing and lending in and of it's self isn't haram. Riba (usury,) is haram. As long as the lender and borrower are in agreement to very simple terms that don't put the borrower in more debt as time goes on, it doesn't count as riba. These are relatively simple, non-compounding loans that don't need a degree in law or finance to understand, making them halal.

For example (using round numbers):
I want to borrow $80k to buy a house that costs $100k
The halal bank puts up $80k, but they want 150% of their investment ($120k) paid in 10 years. Meaning the bank is reselling me their 80% stake in the house for $120k.
After 5 years of making payments ($60k,) I own 60% stake in the house.

IRL, there are other contractual agreements dealing with missed payments, obviously, but that's the simplified version.

Quote from: Charles-Tim on Today at 06:55:03 AM

So if I buy something at $50 to resell it as a trader for $55. That should also become haram because I should not include interest.

Don't be ridiculous. There's nothing haram about wholesale/retail trade. Buying in bulk and selling one piece at a time is the staple of any economy.

Quote from: LoyceV on Today at 08:24:30 AM

Where I live, those interest rates wouldn't be allowed because the "free market" indeed leads to predatory interest rates. But, when paying late, collection fees add up quickly and can easily make the total amount several times higher than the original loan.

Most western countries have some restrictions on interest rates that can be charged, it's the same in my country. But, late fees can also be predatory.

Quote from: LoyceV on Today at 08:24:30 AM

I believe most people would be better off without taking high interest short-term loans, and this loan service has destroyed many accounts by now.

I agree. This account in particular is almost 12 years old. It's sad to see it get painted red over $110, especially after the user paid back the original loan amount.