Loan not paid

[golftimecan]

Well I was nice enough to give out a loan and the person defaulted on it so now I guess I'm going to have to try and collect it. Thought I was being nice but guess I'm going to have to watch who I give loans to. I will not say the person's name who defaulted but just wanted to vent a little about it.

[MichMan]

I know who it wasn't..(me). haha.

Insurance does pay, and don't forget to use debt collect.

[Drywallman3]

I hope this was done through the LOAN SHARK........

[Invertedafro]

aww, cmon, tell us who it wuz

[golftimecan]

Yes it was done through loanshark. I have collected some but will keep trying to collect I guess

[jasonv12]

This happens all the time bud, that's why you have to be careful. You can take out points from insurance once a week and do debt collector for whatever points they still have laying around, up to the point of the original loan amount, minus interest. Once they pay, they'll owe you 10% more as a late fee. You'll get your points back slowly, but eventually no matter what. Good luck!

[Drywallman3]

well I would guess if the other member did it through shark, then they are probably a member who is late a lot. Next time I would check their History on Loans

[getmesome2]

hi! seems like a popular thread, figured id say hi!

[abwil2]

Yeah id say never loan to someone you dont know well or havent looked at there history of loans being paid

[raj27]

i believe the website puts insurance on your loan if it was from a reputable member