One of the things that really bugs me is people getting screwed in the Loan Shark (And Marketplace).

Here's my thought..

I want to build up an insurance program. Every transfer \ loan \ marketplace I will deduct 1-2% which will go in an 'insurance bank'.

If someone defaults on a loan, you can request "INSURANCE".

I will then take a look at who you insured and make sure nothing shady is going on. 1 of 3 things will happen at that point:

- I will approve your insurance request and you will receive 10-15% of the points owed to you ONCE per week
- I will approve your entire claim (This would usually happen if you are owed like 45 points or something and 10-15% doesn't make sense)
- I will deny your request for this week because I think it was a bad loan to make (New person, Multi Accounter, or I think there's some shady stuff going on) or there isn't enough points in the Insurance Pot to cover you.

The idea is you get to try making a claim only once per week, so EVENTUALLY you would get your points back.

You can only get insurance on the principle, not interest or 10% bonus on default.

You can only make a request once per week.

If your loan gets paid off while you were gone or WHATEVER, you still cannot request a loan until you REPAY the any insurance paid + any principle remaining + interest + default.


Thoughts?