How many hours for the token sale?
I think 2 or 3 hours more or less.
Topic: [ANN][ICO] FintruX Network - 💲 THE GLOBAL P2P LENDING ECOSYSTEM ✅ 💲 - page 134. (Read 19506 times)
December 09, 2017, 08:47:28 AM
December 09, 2017, 08:45:42 AM
Is there any subpage where they can help you?
We are answering questions 24/7 on our telegram channel! Definitely feel free to come in and check us out at t.me/FintruX
How will the project guarantee that the lender receive their loan back?
They have a plan for these situations in which the borrower don't pay. You can see it at the whitepaper, sure.Page 2 gives an overview. Basically there is 10% of each loan collected as collateral, plus guarantors, plus third party insurance.
There is also this from earlier in this thread:
The front page of the website and the opening post in this ANN thread do a very good job of explaining the nature of the project and what makes FintruX stand out from the competition.
One thing I would love to see though is some example cases to really give people an extra clear picture of how it all works, e.g. Alice registers as a lender, Bob takes out the loan and pays it all back, then Charlie takes out a loan but doesn't pay it back, etc., going on to show how the bad debt is covered, how credit worthiness is established and affected.
One thing I would love to see though is some example cases to really give people an extra clear picture of how it all works, e.g. Alice registers as a lender, Bob takes out the loan and pays it all back, then Charlie takes out a loan but doesn't pay it back, etc., going on to show how the bad debt is covered, how credit worthiness is established and affected.
Hi Styca, that's a wonderful question. Please allow me to paint a clear picture, using your example. If 'Charlie' doesn't pay, the following will occur:
- ~1 day delinquent: email goes out
- ~3 day delinquent: email and text message go out
- ~7 day delinquent: email and text message and collection calls go out
- after ~1 month of no payment: over-collateralization kicks in
- after ~2 months of no payment Guarantor gets notified
- after ~3 months of no payment: Guarantor gets called upon to provide full balance payment... and if no guarantor then client will get paid from the cross-collateral pool and ultimate reserve pool for overage.
Self serve refinancing option is available to borrowers to avoid delinquencies. The number of times, amounts and terms are presented by the lenders upfront.
Lenders can rate their borrowers at the end of term from 1 to 5 stars with written review. It would be silly for the borrowers to destroy their reputation for future borrowing.
In the future, APIs can be used to connect to our systems so lenders in banks, small firms, etc. can use our well established ratings to determine eligibility their clients. Currently, if you want to borrow from a different bank within the same city, they have different fees/waiting periods because each bank has a different internal record of your credit. We are solving that.
A delinquent borrower refers to a borrower that does not pay their loans back on time, or defaults completely.
December 09, 2017, 08:43:16 AM
How many hours for the token sale?
I think 2 or 3 hours more or less. December 09, 2017, 08:42:09 AM
How much can I earn by investing $ 100?
It depends of how much will the token value increase before you send them December 09, 2017, 08:40:34 AM
How many hours for the token sale?
I think 2 or 3 hours more or less.
December 09, 2017, 08:26:59 AM
what is the objective of this project? permit a online loan?
Better if you read with patience the whitepaper. There, there in a good explanation about the project. December 09, 2017, 08:16:24 AM
How many hours for the token sale?
I think 2 or 3 hours more or less.
December 08, 2017, 09:27:42 PM
Is there any subpage where they can help you?
We are answering questions 24/7 on our telegram channel! Definitely feel free to come in and check us out at t.me/FintruX
How will the project guarantee that the lender receive their loan back?
They have a plan for these situations in which the borrower don't pay. You can see it at the whitepaper, sure.Page 2 gives an overview. Basically there is 10% of each loan collected as collateral, plus guarantors, plus third party insurance.
There is also this from earlier in this thread:
The front page of the website and the opening post in this ANN thread do a very good job of explaining the nature of the project and what makes FintruX stand out from the competition.
One thing I would love to see though is some example cases to really give people an extra clear picture of how it all works, e.g. Alice registers as a lender, Bob takes out the loan and pays it all back, then Charlie takes out a loan but doesn't pay it back, etc., going on to show how the bad debt is covered, how credit worthiness is established and affected.
One thing I would love to see though is some example cases to really give people an extra clear picture of how it all works, e.g. Alice registers as a lender, Bob takes out the loan and pays it all back, then Charlie takes out a loan but doesn't pay it back, etc., going on to show how the bad debt is covered, how credit worthiness is established and affected.
Hi Styca, that's a wonderful question. Please allow me to paint a clear picture, using your example. If 'Charlie' doesn't pay, the following will occur:
- ~1 day delinquent: email goes out
- ~3 day delinquent: email and text message go out
- ~7 day delinquent: email and text message and collection calls go out
- after ~1 month of no payment: over-collateralization kicks in
- after ~2 months of no payment Guarantor gets notified
- after ~3 months of no payment: Guarantor gets called upon to provide full balance payment... and if no guarantor then client will get paid from the cross-collateral pool and ultimate reserve pool for overage.
Self serve refinancing option is available to borrowers to avoid delinquencies. The number of times, amounts and terms are presented by the lenders upfront.
Lenders can rate their borrowers at the end of term from 1 to 5 stars with written review. It would be silly for the borrowers to destroy their reputation for future borrowing.
In the future, APIs can be used to connect to our systems so lenders in banks, small firms, etc. can use our well established ratings to determine eligibility their clients. Currently, if you want to borrow from a different bank within the same city, they have different fees/waiting periods because each bank has a different internal record of your credit. We are solving that.
A delinquent borrower refers to a borrower that does not pay their loans back on time, or defaults completely.
December 08, 2017, 06:42:42 PM
what is the objective of this project? permit a online loan?
If you only read their slogan you can imagine what is the project."Making unsecure loans highly secure"
December 08, 2017, 06:00:38 PM
How many hours for the token sale?
I think 2 or 3 hours more or less. December 08, 2017, 05:52:48 PM
How many hours for the token sale?
I think 2 or 3 hours more or less. December 08, 2017, 05:50:05 PM
How many hours for the token sale?
It starts at 17:00, i presume
December 08, 2017, 05:43:51 PM
How many hours for the token sale?
I think 2 or 3 hours more or less. December 08, 2017, 05:41:51 PM
what is the objective of this project? permit a online loan?
Better if you read with patience the whitepaper. There, there in a good explanation about the project. December 08, 2017, 04:53:00 PM
How much can I earn by investing $ 100?
You shouldn't buy just to sell straightaway, this is an excellent project that solves a real-world problem. I think that you can get a very big return by buying at ICO and then holding until the project is mature and established in the marketplace.
December 08, 2017, 04:51:26 PM
How many hours for the token sale?
I think 2 or 3 hours more or less. December 08, 2017, 04:47:25 PM
How much can I earn by investing $ 100?
You shouldn't buy just to sell straightaway, this is an excellent project that solves a real-world problem. I think that you can get a very big return by buying at ICO and then holding until the project is mature and established in the marketplace.
December 08, 2017, 04:42:04 PM
How many hours for the token sale?
It starts at 17:00, i presume December 08, 2017, 04:35:53 PM
How many hours for the token sale?
I think 2 or 3 hours more or less. December 08, 2017, 02:57:23 PM
what is the objective of this project? permit a online loan?
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