Loan insurance- 1% taken from each trade to low?

[Rcktwrangler]

I've noticed that if you loan someone and they default to you it takes a long time to be fully paid back by loan insurance. This is why I am asking if maybe we should raise the deduction of any loan in the shark or any marketplace trade to 2% instead of 1%.
I know people who just make marketplace trades will not like this but people who loan will cut their loan insurance payback time in HALF!!!

[jbetta01]

seems like a great idea to me .anything to get our points back faster is worth it

[rrickir]

i sayy no on thiss,, and if u have too many loans u need to collect insurance on, then u loaning to the worng poeple too. at least thats what zab told me a w hile bac k too. he said be selective on the amount and the people u try to loan,, and u wont need so much insurance tho,, to rely on that.)

[Zab]

well the insurance is there to make sure you DO get paid back in full but not bankrupt the insurance bank at the same time.

What I have been seeing latley is people making bad loans. LARGE loans to newer members then instantly asking for insurance.

[Drywallman3]

well the insurance is there to make sure you DO get paid back in full but not bankrupt the insurance bank at the same time.

What I have been seeing latley is people making bad loans. LARGE loans to newer members then instantly asking for insurance.

I have noticed that new accounts are popping up and old members are loaning because they know the player, and when the new accounter defaults hit the switch.

[rrickir]

thats what i just said too zab. casue u wa rned me of this before tooo thoo

[Zab]

Yes, I wont insure bad loans. Thats right there in the insurance faq

[boog29]

So should we just use debt collector button or apply for insurance?

[Drywallman3]

So should we just use debt collector button or apply for insurance?

prolly depends on who you loaned too, but if you loan to a player who has good rating then wait. If he default and you know they have good ratings wait it out and they have to pay the fee

[Rcktwrangler]

well the insurance is there to make sure you DO get paid back in full but not bankrupt the insurance bank at the same time.

I realize that , that's why I suggested you change it to 2% so you can pay out a little bigger amounts at a time to make the payback process faster. I have not made any bad loans to new members.