Topic: .0043 bitcoin loan defaulted by [Devawnm367] - page 2. (Read 763 times)

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.

As you can see the user had positive ratings and a good trading/lending history. That's why I gave time to come back and repay the loan. Creating scam accusations is the last step which means there is no hope. That means I thought I may receive until creating the accusation.

Leaving the forum means whether there is any physical problem (it might be caused to death) and/or the intention is to scam. Actually I still cant believe this type of scam can be the intention of the borrower.

There's someone right now on the Lending board, who takes larger and larger loans right after paying one back.

I've seen it many times, both online and IRL: taking a loan once, paying it back with interest, and never doing it again can actually help someone. But doing it on a regular basis either drains your finances, or you're filling one hole with another and not planning to ever pay it back. Either way, it often gets worse after a while.

From what sashan says, I see that he does it partly out of altruism, but many times to get out of the hole as you say is as easy as tightening the belt for a while, which will be more or less long depending on the size of the hole. But the thing is that when I see people asking for a small loan, and after paying it back they ask for another one, and another one, I tend to think that things are going to end badly. It is not necessarily so in 100% of the cases but it indicates a bad management of own resources and not knowing or ignoring basic rules of personal finance.

It is true that it becomes helpful for real people and it becomes helpful for scammers as they can scam easily by taking a loan but I am still unable to make a profit. For lower rank, I usually do not give a loan as the chance of default is higher than the higher rank.

sorry for the loss you suffered @shasan, i can't believe that person took away 0.0043 btc it's only equivalent to $113 the current btc/usd rate and it's been going on for over a year ^{(i looked at the account's posting history and found that he wasn't active enough while on the forum)}

you are a good person, i am helped with the services you provide, although i am not sure whether you get a big profit from running a lending business because i have noticed that there are quite a number of lending providers who have stopped their services for various reasons.

Shasan, I support your tag. you have really been patient for that guy. How can someone be as heartless as he has shown to be, letting his loan linger for more than a year without even contacting you, at least to let you know if there were any predicament that he's currently facing that has made him not be able to repay his loan. I'm sorry for your loss.

If not for a health issue or anything serious that will take someone off the internet, I see no reason why someone would default on such a small amount of money for a full member rank account where the money can be earned within a month, and based on the OP's explanation, it has given the loan defaulter close to a year now and no sign of a repayment plan has even been made.

I don't actually know what usually triggers people to take loans and refuse to pay them back, as loans are supposed to be taken when someone seriously needs them for something serious and has the means or plan of repayment. Even if the money did not come as expected, within the long duration that was given to the loan defaulter, there is enough time to save up $100+.

I just hope the loan defaulter is in good health wherever he is, and if he doesn't have a plan of scamming, maybe he will come back one day and repay the loan, as both the ALTs identified here have been active since 2022. @Op, just hope all this kind of loss won't make you change your good heart and give out your support to the needy in the form of your loan.