Topic: .0043 bitcoin loan defaulted by [Devawnm367] (Read 561 times)

I do not usually set limits. But when anyone asks for a loan and I review the post of the loan, merit, recent earning merit, activity, rank, trust, and loan history then I decide whether I have to accept the loan or not. And if I think the borrower deserves a lower number of loans then I also mention that via private message.

afte reading the whole story i am feeling very sad for you loss but also more tha your loss I am thinking about Devawnm367 health. DireWolfM14 comment concludes that he Devawnm367 is not officially scammer as he pay back many times but his health and internal family issue force him to do this or  also there is possibility of lefting this earthly realm

 I hope your loss would be recovered till now. One year waiting is not easy and only man with great patience wait for such a long time. Your job is risky and if you gives loan without collateral, then will see many cases here. some scammer buying accounts for this purpose although this is stupid way to earn.  constantly working here in forum will give him opportunity to work in signature where they can earn more without risk of accounts but don't know why people choose this illegal way

I think the borrower defaults on the loan intentionally, though I am not sure. We had contact after taking the loan though there is no post after the loan by the borrower. If the user is no more on the earth then I am wrong.
Maximum borrowers try to take non-collateral loans and non-collateral loans are available by several lenders. As a non-collateral loan is available there is no need to take a collateral-based loan from the borrower.

shasan - there is no better warning for you than to be careful of anyone who comes and request a loan for the first time. They don't all come because they need money and help - but some of them come to cheat you, while others want to get your positive tag by paying off the loan faster than scheduled. Those scenarios were thought out and considered to build the reputation of the forum - but you are entitled to tag anyone you think is worthy.

I know you are a user who has helped many forum users with your services - but along with that you have become the target of fraud by some shady users whose lives depend on other people's difficulties. Be careful - shasan.

Due to these scammers, many members who could take a loan for their urgent needs may lose this opportunity. A few recent incidents with you show how difficult it is for lenders to fight back against scammers. In fact, the behavior they show before taking the loan, they change their behavior once they get the loan. Because these members have multiple accounts in this forum, they try to scam the lender again by using other accounts. So it is wrong to expect good feelings from them, no matter how much you do for them, they will try to scam you if they get a chance.

Scammers have no feeling and they have neither country nor feelings.  They have only one target and that is called how to scamming. I am trying to be more careful but scammers are also more aware than me and that is why they are getting loan from me and they are scamming funds from me.
It doesn't seem to me co-incidental and seems to me well planned scam and exit from the forum.

Have you ever thought about having limits you can send to an individual? Even for people you have lent money in the past and successfully paid back?

When I watch the lending board, there are members who are the highly suspicious of eventually defaulting a loan. Someone borrows a loan of $100, repays it with interest, then after a few days borrows $200, repays it then with interest, after a week borrows $300. Such activity is a time bomb

Such a person can live without loans, but they are trying to create some trust between you and them so that they can at one point scam you with high amounts.

It is almost impossible to appoint a grantor who will be able to repay the loan if the borrower dies. A lot of users have only access to the account. No other of the family members not aware of the forum as well as credentials. That's why it is impossible to keep Grantor online especially

Lenders offer a service which ppl need so it's got to affect when they've realised they've been scammed. Aren't loans without collateral ones you've lost most money in? If defaulters leave collateral you'll sell it to recover some funds because you've protected yourself from a full loss. If you don't take collateral you're risking losses from users you trusted because of previous loans they've repaid. It's a risky way to make business.

The chance of scamming is high by those who repay loan and trying to take large and after paying that asking larger and this way continue and once a time the user default the loan. Though there is an exception and but the chance of scamming is too high.

It's a dreadful set back when loans become defaulted so I'm with you feeling sorry for lenders in the forum. You're right some members build trust to scam that's got to happen but here it's $118. It's a small loan so it's believable he didn't intend to scam.

Lenders take risks with each loan so it's not for ppl who get affected with each default. I couldn't do it even if I had funds it's stressful for lenders.

I admire your patience in waiting for almost a year before making this scam accusation. Judging from the account, it appears that the owner has already departed. I'm sorry to hear about your loss; such occurrences are sometimes inevitable in business, particularly for non-collateral loans. However, as a borrower, it would have been beneficial to communicate any payment issues to the lender according to the agreement.

Like he said, he based on the defaulter's previous positive feedback, which was painting a picture of him paying back loans and having successful trades with other different members.

I feel for Shasan and all the lenders in this forum. This business is not for the faint-hearted in that even if a member has been very trustworthy, they can one day disappear in the forum unannounced due to different circumstances and there goes the loan.
I also have a feeling there are some members who build trust between different lenders and later on pull off an exit scam just when the lender thinks they can completely trust them.

I haven't applied for loans but I'd imagine if ppl wanted one it shouldn't take long to repay. As a Full Member I can get at $40 max week in my sig campaign. You've given Devawnm367 $118 17 months ago so he should've settled he's had enough time. His last activity's a year ago in the forum. It's possible something happened to him but it's abysmal feeling to know you've had one more loan default.

I think it might happen because of the health issue and/or the OP is no more on the earth. And/or it might happen for having too many alt accounts and it might not be worth anything to him/her. However the chance of it being too low as the accused person could borrow more money and then could default on the loan.

@Devawnm367 has been offline for nearly a year now after taking the loan and hasn't logged into his account during all this time with all his accounts. So as you mentioned there seems to be no reason for him not to repay the loan given that if he participates in signature campaigns he will settle the debt within a few weeks only. Regardless of his reasons for disappearing (hopefully not due to a serious health issue), you're still facing a financial loss. This situation is a real problem especially if more cases like his appears. I noticed that his last post was when taking a loan from you, which could be coincidental or possibly linked to his exit from Bitcointalk. Unfortunately not knowing personallyit's hard to know the exact circumstances and his real intentions.



I have borrowed money from you multiple times and I must say that you greatly helped me. I was facing some tough financial situations (as a student) where I needed that amount of money urgently and couldn't wait weeks to save it up with signature campaigns.that’s why I really hope your lending services continue, as there are needy cases and people like me who rely on them. In the meantime I believe it's time to implement more stricter rules and conduct thorough research on any profile before granting loans to anyone. Just my two cents!

Then I think you need to change the title and make it Shasan's Charity 😎
This will have benefits like [1.] we will not see anymore scam accusation [2.] you know you are not expecting any return.
The people who need immediate funding they still receive the benefit

Scamming decreasing day by day as accounts decreasing day by day for scamming. But few people seriously need loans so I am not going to leave non-collateral lending. Thanks for your advice.

We can only able to know if any known person of the borrower can update anything about the user otherwise we are unable to know whats going on.
I think all the lenders are at a loss except Darkstar.

It's sad shasan. Many people get help in bad times by taking loans from this forum, but because of such users, lenders are now afraid to give loans. If this continues, it will become difficult for lenders to make a profit. So there is no way but to be more careful in approving loans, not only low rank account scams but many high rank accounts can also try to scam with large amount.

I don't know how easy it has always appears for some people to take loan and finds it very difficult to make repayment, are they that desperate not to even have a look back on the issuer or considering the consequences that may land on them both, or maybe some would have been challenged with obstacles they faces as the worst challenge of their life finding it difficult to make repayment, we cannot just keep guessing but what i may suggest in this regard is to have a guarantor introduced in this regard in case of natural occurrence like death so that there will be a guarantor to reach after their abscondment.