Loan Shark Reality

[lulabell79]

I don't borrow, but just wondering... Why wouldn't you offer the lower interest rate to the ones who have proven they're dependable and paid as agreed & on time and charge the higher interest rate to new borrowers? The good borrowers should not have to be penalized for some slacker's bad debt.., nor should your risk be the liability of the ones who have proven themselves. You could also be more strict about eligibility requirements for new borrowers....like requiring references or have them show you their history of earning points to ensure they can pay you back even if they lose all the borrowed points in the client. Just some ideas ... because it doesn't seem fair to the ones who have proven themselves as good borrowers.

[Zab]

I would suggest you stay away from new members and work it on a case by case basis. Old time members you know will pay, probably able to charge less interest.

But up to you

[lulabell79]

Well said Zab.. I need to learn how to sum things up like that... lol. I tend to write a novel when I'm trying to make a point. Sometimes less is more, right?

[gametime74]

good loans are there, avoid the bad ones altogether, don't lend large amts to new users or nothing at all

[willstocks]

dam i too as well owe , so i know how you feel just hard to pay back sometimes

[lulabell79]

Sometimes things can happen, even to the best of em, that may cause a delay in paying back a debt, but NO ONE SHOULD EVER BORROW ANYTHING UNLESS THEY HAVE THE FULL ABILITY AND EVERY INTENTION OF PAYING BACK AS AGREED!!! But if you lose all the borrowed points to a donkey in the client or if you were the victim of a sick bad beat, that doesn't change the fact that you still have to repay the debt and it definitely is no excuse for defaulting on a loan.

Credit is a privilege, not an automatic entitlement, whether its for a loan to buy a house or a loan for PO points.

[Tiarra]

I don't borrow, but just wondering... Why wouldn't you offer the lower interest rate to the ones who have proven they're dependable and paid as agreed & on time and charge the higher interest rate to new borrowers? The good borrowers should not have to be penalized for some slacker's bad debt.., nor should your risk be the liability of the ones who have proven themselves. You could also be more strict about eligibility requirements for new borrowers....like requiring references or have them show you their history of earning points to ensure they can pay you back even if they lose all the borrowed points in the client. Just some ideas ... because it doesn't seem fair to the ones who have proven themselves as good borrowers.

I have never lent to a new member, or one without good feedback from previous loans. These are regulars who have borrowed before, and 1 is a well-known regular that has defaulted on loans from several of us. In short, these WERE members I trusted, or who had positive feedback from members I trusted.

And I understand that things happen, but these members have cut and run. Meaning, they do not reply to messages asking about the loan, or have waited for the loan to come due and have not returned to the site (with that account).

[wagon596]

Homie don't play that,,,,,, goodluck,,, just think if you knew where they live,,,you could break some knee caps....

[eveleen]

Have a points with a shark... this is?

[nazgardeq]

paying one now