PO Rule Proposal - Eliminating Debt

[igor23]

I have no problem with that zab, but isn't it a gambling community, and isn't the client the only current way we can play poker. Also, I have accumulated thousand of points, where does it go... mostly to you and the mods via rake and promotions.

[rivdee]

I object to your statement riverdee, look at my case for example, I have defaulted on many a loan, but have no other screennames and always pay when late.

See this is the big point I was trying to make - things happen, people sometimes are late, its not the end of the world - but as long as you communicate with the person (like telling them when to collect, etc.), the vast majority of people here that give loans are more than reasonable. You did that yesterday with Nelson, you communicated.

BTW, defaulting on many a loan and then paying isn't really commendable, its expected.

[igor23]

I totally agree with you on that. The best way to solve a problem is by talking.

[crp62885]

Rivdee... how about you have 24 hours of chat after entering default to maybe sell/get some help? Then youre chatbanned.

[TONelson]

I object to your statement riverdee, look at my case for example, I have defaulted on many a loan, but have no other screennames and always pay when late.

This rule proposal isn't meant or aimed at you, or others like yourself. You get "it".

No, this is born out of SR23 and his ilk being the exception that requires the rule.

@ZAB, I'm no a fan of the TAX to enter client suggestion. I don't believe it is good policy to allow someone whom is indebt to try and gamble their way out it. Frankly, most of the time they are in the mess in the first place is because they gambled and lost. Throwing good points after bad leaves two people with no points more often then not.

What I would like to propose instead is that within 48 hrs of a loan going into default, any client balance be somehow automatically dumped back into their PO account for debt collection availability. Their PO account should also be frozen in terms of doing redeems or outbound point trades until such time as a debt is paid. A pop-up notification upon login or even changing pages reminding the debtor of his status would be helpful or at least annoying enough to prompt action.

Within 7 days, if a debt has not been paid the loaner has at their discretion the option of blocking a debtors chat functions.

Within 14 days, if a debt has not been paid IN FULL, their loan limits be automatic reduced.

Within 30 days of no apparent activity on the account, the PO account should be suspended pending review by ADMIN which would be triggered the next time the user tried to log into this or ANY linked account (hello background check)

If an account repeatedly goes into default, their account should be automatically flagged for review by ADMIN, with possible additional penalties being imposed upon the account such as a further reduction in loan limits, Loan Shark privilege suspensions in lengths to be determined based on history, feedback, and general behavioural participation on the site (the later meaning that it would be better to be liked by people rather then being rude).


I understand the that above constitutes a MAJOR upgrade to Loan Shark, but I assure you it is worth it. In my short time here I have loaned (to date) 1, 287, 505 points. This number does not include any Market loans I have done to members whom I trust implicitly either.

1287505! That is a significant number of points that I have been a conduit for in this sites economy. I know for a fact the rrickr and rghy2 have got very similar stories to mine. Like me they also have a number of outstanding defaults on the books, I sent ZAB a list of 25.

My point is that we three and others like us contribute greatly to the economy of this site. We take the risks, and we get diminishing rewards. We are often told "well you have insurance" as if we are somehow not aware of this..... but insurance takes not weeks but MONTHS to repay the principle only. That is MONTHS we don't have full use of those points. Make no mistake, we appreciate the insurance, but at the end of the day from a business perspective, it's a net loss... made even more so if we are unable to collect the interest portion(s) of the loan too.

Loan Shark is a valuable tool for this site. It's time the people who offer the loans be given more tools and more protection.

If you have read this far, thank you

[CKC1UNV]

I have no problem with that zab, but isn't it a gambling community, and isn't the client the only current way we can play poker. Also, I have accumulated thousand of points, where does it go... mostly to you and the mods via rake and promotions.

It doesn't sound like you're part of the issue being addressed, being that even when you're late you are still paying your loans as you have stated. But as far as where your points go, you actually do get the majority of your points. Rake is not taking most of your points and promotions are only 5%.

[mikey4141]

yea U need to get rid of all the losers that are in debt!!

[TONelson]

It doesn't sound like you're part of the issue being addressed, being that even when you're late you are still paying your loans as you have stated. But as far as where your points go, you actually do get the majority of your points. Rake is not taking most of your points and promotions are only 5%.

Tonight's Top Ten list: The top ten places igor23's points go

1 Babyfaceatl 378.04K
2 Dalsue214 188.87K
3 Gimmeabrew 158.55K
4 Jbeam18 118.95K
5 Decssiz 101.7K
6 Turtleboooy 67.96K
7 Vtriclone 60.61K
8 Jkgotsit 40.64K
9 Rghy2 38.48K
10 CocomoOwns 33.54K

[CKC1UNV]

Tonight's Top Ten list: The top ten places igor23's points go

1 Babyfaceatl 378.04K
2 Dalsue214 188.87K
3 Gimmeabrew 158.55K
4 Jbeam18 118.95K
5 Decssiz 101.7K
6 Turtleboooy 67.96K
7 Vtriclone 60.61K
8 Jkgotsit 40.64K
9 Rghy2 38.48K
10 CocomoOwns 33.54K

LOL nice...

[azreal1]

I actually thought about taxing people for using the client.

Losing your chat and posting I could do as well.. but what about that? I.E. if you want to log into the client, you get taxed 25 points that goes towards your debt

if they have the points to spare to play in client they have the points to pay back a loan imo