Topic: Is the need to be known a requirement to qualify for a loan(s)? - page 3. (Read 894 times)
October 27, 2023, 05:02:31 AM
If every person on this planet is honest and has integrity, the need to be known wouldn't even be a qualification for loans because if everyone is honest then everyone is going to be paying their loans no matter what but we don't live in that kind of world where if you show a weakness, someone will definitely exploit it. I think that for loans, it's an understandable thing for them to do because they're lending money and they have to have some kind of guarantee that they can get back on their loan after all, no one gave a loan because they're charitable and they really want to help.
October 27, 2023, 04:31:40 AM
I have come to realize that our traditional local banks only really give out loans to persons, or organizations that are known either online or offline and has a location with documents to proof their existence.
Same goes for those who use loan apps. You have to at least identify with the verifications stressing on passport, state of residence, age, and the funny thing is that your device location will be required to be turned on while doing all this or even applying for the loan.
I have no doubt my observation is applicable to even crypto currency lenders, because even these days the P2p system isn't as decentralized or anonymous as before where we think we were trading with bots or fake people/scammers.
Is there any truth to the fact that an individual needs to be known in any place before they can qualify to receive loans?
That is, is the need to be known or identified really required to qualify for a loan?
What are thoughts?
even in this forum, lenders like in "board lending" prefer borrowers who have a good reputation, especially in the real world, when i first borrowed money from the bank, there were many questions asked by the bank to me, even though they initially refused to give me a loan because i couldn't show them that my income was stable and could pay them on time, i'm sure this applies all over the world, reputation is the most important thing in this world, without it it will be very difficult for you to succeed trusted other people, especially the borrower, keep your name good.Same goes for those who use loan apps. You have to at least identify with the verifications stressing on passport, state of residence, age, and the funny thing is that your device location will be required to be turned on while doing all this or even applying for the loan.
I have no doubt my observation is applicable to even crypto currency lenders, because even these days the P2p system isn't as decentralized or anonymous as before where we think we were trading with bots or fake people/scammers.
Is there any truth to the fact that an individual needs to be known in any place before they can qualify to receive loans?
That is, is the need to be known or identified really required to qualify for a loan?
What are thoughts?
They would really be just simply needing those criterias that they had set before you would really be making that eligible for the loan.If you do zoom out, then it is really that a huge risks
for them which considering that lending up an amount into someone you cant really be that so sure that they would be able to repay then its a huge risks.
You cant really be able to get nothing from it.
But there is a difference between borrowing money on a forum and borrowing money from a bank. You won't need to pledge or provide your identity to the lenders on the forum, but what's the maximum amount you can borrow? A few hundred dollars or a few tens of thousands of dollars? It's just a very small amount and not even significant if you need a large amount of money to do business. At that time, borrowing money from banks will become more complicated and require more collateral, but you can borrow large amounts of money for your business.
October 27, 2023, 04:05:50 AM
As a financial institution, just knowing who you’re giving a loan to isn’t going to repay the loan. Obviously, there is some need to know just who is applying for the loan, that is just a step in the list of requirements needed before being qualified for a loan.
The ability to pay back and on time too is what most likely would be at the lenders mind when taking out a loan. The bank also doesn’t give loans if you don’t have the means to pay back despite being well known.
The ability to pay back and on time too is what most likely would be at the lenders mind when taking out a loan. The bank also doesn’t give loans if you don’t have the means to pay back despite being well known.
More also for a new customer, he or she will be well scrutinized including going to visit on the collateral he has presented. A customer who has almost maintained the agreement of his creditor gets easy access to loan facilities and even the creditor is open to allow addictional loan even when they have not redeemed the first just because the trust has been built over time as the customer is known to fulfill payment as at when agreed. Everyone giving out loan wants to be sure to get the money back without mercy stories.
October 26, 2023, 11:06:35 PM
-snip-
These days though, loans can be gotten from anywhere even with the loaner not knowing anyrhing about the loanee, except for a picture that may be badly taken, residential documents that may be outdated or government issued documents that may need renewal or revalidation. Bitcoin members here I learnt can get loans here but it depends still on some requirements that points to ones actual claim of existence.
There are many such loans, which only require a photo ID and phone number.These days though, loans can be gotten from anywhere even with the loaner not knowing anyrhing about the loanee, except for a picture that may be badly taken, residential documents that may be outdated or government issued documents that may need renewal or revalidation. Bitcoin members here I learnt can get loans here but it depends still on some requirements that points to ones actual claim of existence.
But I'm sure the borrower will regret it in the end, because the interest and service fees are very high and they can even be regarded as loan sharks, blackmailing borrowers if they don't pay on time.
The high-interest rate will make the loan look like a lot because of the ongoing interest.
But for some loans provided on this forum, it is clear how the mechanism is with the interest that has been stated and agreed by the borrower.
Usually, many members of this forum who make loans to @DarkStar_
DarkStar's Loans | BTC, USDT
- I can only add that the percentage that DS has is quite high for me; his approach is nice and friendly, to be honest. If only I had a big fund, I would imitate @DS's approach. Second, Shahan is also there, and his approach is also friendly.
The only thing that is important is that we should not let the trust that these two reputable people give to the forum be broken. There are many people who have helped @DS and @shasan in the forum community here, and it can be said that if they have regular borrowers, it can be said that they trusted borrowers because they also don't let their accounts be damaged here in the forum, even though we are all anonymous here.
October 26, 2023, 06:40:01 PM
I’m surprised you’re just finding out that banks don’t just give out loans to just anyone interested in taking out a loan. If they did that constantly, there would have to refund customer deposits used In doing business as the bad debt that would ensure would be crippling to the bank.
I know most people would agree that for you to get a loan from the bank, you need to provide identification and some sort of reassurance that the loan would be repaid. “Trust me bro, I’m good for it” isn’t going to cut it.
I know most people would agree that for you to get a loan from the bank, you need to provide identification and some sort of reassurance that the loan would be repaid. “Trust me bro, I’m good for it” isn’t going to cut it.
October 26, 2023, 06:16:32 PM
Is there any truth to the fact that an individual needs to be known in any place before they can qualify to receive loans?
That is, is the need to be known or identified really required to qualify for a loan?
What are thoughts?
That is, is the need to be known or identified really required to qualify for a loan?
What are thoughts?
As I stated centralized services need to know the person who requested a loan. That is needed for filing and the data is stored for future needs in case the company needs to provide details of their transaction to the authority. Aside from that, they need to know the person so that they can file a case against them when the person failed to pay their loan.
Even surveys are done very thoroughly because many people in my place make loans with a guarantee of land titles, vehicle titles, or other securities.
That will determine whether they qualify for a loan or not, and paycheck receipts are also needed to see if they can pay their monthly bills or not.
If they cannot pay they will apply for a warning first and if they cannot pay within the specified time until they are in arrears, then the vehicle or house they live in will be confiscated, it will be a good guarantee for the bank when they cannot make payments.
If they only make demands on the obligated party they will not benefit, the bank also thinks about the worst.
October 26, 2023, 05:51:38 PM
I have come to realize that our traditional local banks only really give out loans to persons, or organizations that are known either online or offline and has a location with documents to proof their existence.
Not only to be known to proof their existence but also to know their capability to pay the loan. Information is also needed if one is to provide a collateral such as property to know whether they are the true owner of the property.Is there any truth to the fact that an individual needs to be known in any place before they can qualify to receive loans?
That is, is the need to be known or identified really required to qualify for a loan?
What are thoughts?
That is, is the need to be known or identified really required to qualify for a loan?
What are thoughts?
As I stated centralized services need to know the person who requested a loan. That is needed for filing and the data is stored for future needs in case the company needs to provide details of their transaction to the authority. Aside from that, they need to know the person so that they can file a case against them when the person failed to pay their loan.
October 26, 2023, 05:24:02 PM
-snip-
you are always being watched if you don't pay off the loan on time, they will blackmail and confiscate the things you have. I suggest stop making online loans and if necessary apply for a conventional loan with a lower interest rate and they follow friendly collection rules.
Not only that, customer data will be disseminated when customers cannot pay on time. you are always being watched if you don't pay off the loan on time, they will blackmail and confiscate the things you have. I suggest stop making online loans and if necessary apply for a conventional loan with a lower interest rate and they follow friendly collection rules.
This is quite scary where data such as KTP is very private but instead, it is disseminated.
They also have an application installed on the loaner's device and just so you know the application can intercept some important data such as SMS, location, and others.
So never deal with unverified or illegal online loans.
Conventional loans are more humane and not like online loans.
October 26, 2023, 05:05:38 PM
They have to make it clear to know who they are after to. That's okay if the banks are too strict on whom they're granting the loan requests. Because if they are not strict and they just grant everyone's request, they may soon file for bankruptcy.
But I think that as long as you have provided all the requirements needed and you can proof that you're a paying customer, they will consider as well those that are not known in their communities.
Wherever you go, when the loaner doesn't see you capable of paying and don't know how to charge you, you'll just declined.
But I think that as long as you have provided all the requirements needed and you can proof that you're a paying customer, they will consider as well those that are not known in their communities.
Wherever you go, when the loaner doesn't see you capable of paying and don't know how to charge you, you'll just declined.
October 26, 2023, 04:30:47 PM
What are thoughts?
I see almost nothing wrong with what those entities in charge of giving out such loan is doing, they are just trying every possible ways to reduce the rate at which their customers might run away with their money so they need every bit of a details that can help them catch any loan defaulter, and another thing they need to verify who they are given out loan to and consider the amount that the person can be able to repay back at the given period, I guess that’s why most of this information are being needed. Some citizens are just out their to spoil others business, if they make that loan given of a thing very easy and don’t include such policies you will discover that anyone can just wake up any day pick up any smart phone and fill form to get a loan with out having the intention of paying back. Anyone who is not okay with any loan app rules and policy should avoid using their service that’s just the best thing to do.
October 26, 2023, 04:19:03 PM
I have come to realize that our traditional local banks only really give out loans to persons, or organizations that are known either online or offline and has a location with documents to proof their existence.
Same goes for those who use loan apps. You have to at least identify with the verifications stressing on passport, state of residence, age, and the funny thing is that your device location will be required to be turned on while doing all this or even applying for the loan.
I have no doubt my observation is applicable to even crypto currency lenders, because even these days the P2p system isn't as decentralized or anonymous as before where we think we were trading with bots or fake people/scammers.
Is there any truth to the fact that an individual needs to be known in any place before they can qualify to receive loans?
That is, is the need to be known or identified really required to qualify for a loan?
What are thoughts?
even in this forum, lenders like in "board lending" prefer borrowers who have a good reputation, especially in the real world, when i first borrowed money from the bank, there were many questions asked by the bank to me, even though they initially refused to give me a loan because i couldn't show them that my income was stable and could pay them on time, i'm sure this applies all over the world, reputation is the most important thing in this world, without it it will be very difficult for you to succeed trusted other people, especially the borrower, keep your name good.Same goes for those who use loan apps. You have to at least identify with the verifications stressing on passport, state of residence, age, and the funny thing is that your device location will be required to be turned on while doing all this or even applying for the loan.
I have no doubt my observation is applicable to even crypto currency lenders, because even these days the P2p system isn't as decentralized or anonymous as before where we think we were trading with bots or fake people/scammers.
Is there any truth to the fact that an individual needs to be known in any place before they can qualify to receive loans?
That is, is the need to be known or identified really required to qualify for a loan?
What are thoughts?
They would really be just simply needing those criterias that they had set before you would really be making that eligible for the loan.If you do zoom out, then it is really that a huge risks
for them which considering that lending up an amount into someone you cant really be that so sure that they would be able to repay then its a huge risks.
You cant really be able to get nothing from it.
October 26, 2023, 03:55:50 PM
There are many such loans, which only require a photo ID and phone number.
But I'm sure the borrower will regret it in the end, because the interest and service fees are very high and they can even be regarded as loan sharks, blackmailing borrowers if they don't pay on time.
The high-interest rate will make the loan look like a lot because of the ongoing interest.
I often hear that it is an online loan service because they don't verify your employment details and monthly income, they only need photo documents, ID card and telephone number, they provide easy service but they set high interest rates, you are always being watched if you don't pay off the loan on time, they will blackmail and confiscate the things you have. I suggest stop making online loans and if necessary apply for a conventional loan with a lower interest rate and they follow friendly collection rules.But I'm sure the borrower will regret it in the end, because the interest and service fees are very high and they can even be regarded as loan sharks, blackmailing borrowers if they don't pay on time.
The high-interest rate will make the loan look like a lot because of the ongoing interest.
Quote
But for some loans provided on this forum, it is clear how the mechanism is with the interest that has been stated and agreed by the borrower.
Usually, many members of this forum who make loans to @DarkStar_
DarkStar's Loans | BTC, USDT
Loan services on forums are easier without the need for any documents and low interest rates, they will approve loans depending on the reputation of the account, if we are active participants in the signature campaign for weekly passive income then we can apply for higher loans. Usually, many members of this forum who make loans to @DarkStar_
DarkStar's Loans | BTC, USDT
October 25, 2023, 06:48:04 PM
As a financial institution, just knowing who you’re giving a loan to isn’t going to repay the loan. Obviously, there is some need to know just who is applying for the loan, that is just a step in the list of requirements needed before being qualified for a loan.
The ability to pay back and on time too is what most likely would be at the lenders mind when taking out a loan. The bank also doesn’t give loans if you don’t have the means to pay back despite being well known.
The ability to pay back and on time too is what most likely would be at the lenders mind when taking out a loan. The bank also doesn’t give loans if you don’t have the means to pay back despite being well known.
October 25, 2023, 06:43:15 PM
-snip-
These days though, loans can be gotten from anywhere even with the loaner not knowing anyrhing about the loanee, except for a picture that may be badly taken, residential documents that may be outdated or government issued documents that may need renewal or revalidation. Bitcoin members here I learnt can get loans here but it depends still on some requirements that points to ones actual claim of existence.
There are many such loans, which only require a photo ID and phone number.These days though, loans can be gotten from anywhere even with the loaner not knowing anyrhing about the loanee, except for a picture that may be badly taken, residential documents that may be outdated or government issued documents that may need renewal or revalidation. Bitcoin members here I learnt can get loans here but it depends still on some requirements that points to ones actual claim of existence.
But I'm sure the borrower will regret it in the end, because the interest and service fees are very high and they can even be regarded as loan sharks, blackmailing borrowers if they don't pay on time.
The high-interest rate will make the loan look like a lot because of the ongoing interest.
But for some loans provided on this forum, it is clear how the mechanism is with the interest that has been stated and agreed by the borrower.
Usually, many members of this forum who make loans to @DarkStar_
DarkStar's Loans | BTC, USDT
October 25, 2023, 06:07:24 PM
I have come to realize that our traditional local banks only really give out loans to persons, or organizations that are known either online or offline and has a location with documents to proof their existence.
Same goes for those who use loan apps. You have to at least identify with the verifications stressing on passport, state of residence, age, and the funny thing is that your device location will be required to be turned on while doing all this or even applying for the loan.
I have no doubt my observation is applicable to even crypto currency lenders, because even these days the P2p system isn't as decentralized or anonymous as before where we think we were trading with bots or fake people/scammers.
Is there any truth to the fact that an individual needs to be known in any place before they can qualify to receive loans?
That is, is the need to be known or identified really required to qualify for a loan?
What are thoughts?
even in this forum, lenders like in "board lending" prefer borrowers who have a good reputation, especially in the real world, when i first borrowed money from the bank, there were many questions asked by the bank to me, even though they initially refused to give me a loan because i couldn't show them that my income was stable and could pay them on time, i'm sure this applies all over the world, reputation is the most important thing in this world, without it it will be very difficult for you to succeed trusted other people, especially the borrower, keep your name good.Same goes for those who use loan apps. You have to at least identify with the verifications stressing on passport, state of residence, age, and the funny thing is that your device location will be required to be turned on while doing all this or even applying for the loan.
I have no doubt my observation is applicable to even crypto currency lenders, because even these days the P2p system isn't as decentralized or anonymous as before where we think we were trading with bots or fake people/scammers.
Is there any truth to the fact that an individual needs to be known in any place before they can qualify to receive loans?
That is, is the need to be known or identified really required to qualify for a loan?
What are thoughts?
The need to be known is very solid, but to be known for the good things such like fulfilment of credits on time, spending discipline will give one a better option anyday as compared to one who doesn't payback loans on time or have a good money spending habit.
These days though, loans can be gotten from anywhere even with the loaner not knowing anyrhing about the loanee, except for a picture that may be badly taken, residential documents that may be outdated or government issued documents that may need renewal or revalidation. Bitcoin members here I learnt can get loans here but it depends still on some requirements that points to ones actual claim of existence.
October 25, 2023, 01:52:03 PM
I have come to realize that our traditional local banks only really give out loans to persons, or organizations that are known either online or offline and has a location with documents to proof their existence.
Same goes for those who use loan apps. You have to at least identify with the verifications stressing on passport, state of residence, age, and the funny thing is that your device location will be required to be turned on while doing all this or even applying for the loan.
I have no doubt my observation is applicable to even crypto currency lenders, because even these days the P2p system isn't as decentralized or anonymous as before where we think we were trading with bots or fake people/scammers.
Is there any truth to the fact that an individual needs to be known in any place before they can qualify to receive loans?
That is, is the need to be known or identified really required to qualify for a loan?
What are thoughts?
even in this forum, lenders like in "board lending" prefer borrowers who have a good reputation, especially in the real world, when i first borrowed money from the bank, there were many questions asked by the bank to me, even though they initially refused to give me a loan because i couldn't show them that my income was stable and could pay them on time, i'm sure this applies all over the world, reputation is the most important thing in this world, without it it will be very difficult for you to succeed trusted other people, especially the borrower, keep your name good.Same goes for those who use loan apps. You have to at least identify with the verifications stressing on passport, state of residence, age, and the funny thing is that your device location will be required to be turned on while doing all this or even applying for the loan.
I have no doubt my observation is applicable to even crypto currency lenders, because even these days the P2p system isn't as decentralized or anonymous as before where we think we were trading with bots or fake people/scammers.
Is there any truth to the fact that an individual needs to be known in any place before they can qualify to receive loans?
That is, is the need to be known or identified really required to qualify for a loan?
What are thoughts?
October 23, 2023, 12:24:20 PM
I have come to realize that our traditional local banks only really give out loans to persons, or organizations that are known either online or offline and has a location with documents to proof their existence.
Same goes for those who use loan apps. You have to at least identify with the verifications stressing on passport, state of residence, age, and the funny thing is that your device location will be required to be turned on while doing all this or even applying for the loan.
I have no doubt my observation is applicable to even crypto currency lenders, because even these days the P2p system isn't as decentralized or anonymous as before where we think we were trading with bots or fake people/scammers.
Is there any truth to the fact that an individual needs to be known in any place before they can qualify to receive loans?
That is, is the need to be known or identified really required to qualify for a loan?
What are thoughts?
even in this forum, lenders like in "board lending" prefer borrowers who have a good reputation, especially in the real world, when i first borrowed money from the bank, there were many questions asked by the bank to me, even though they initially refused to give me a loan because i couldn't show them that my income was stable and could pay them on time, i'm sure this applies all over the world, reputation is the most important thing in this world, without it it will be very difficult for you to succeed trusted other people, especially the borrower, keep your name good. Same goes for those who use loan apps. You have to at least identify with the verifications stressing on passport, state of residence, age, and the funny thing is that your device location will be required to be turned on while doing all this or even applying for the loan.
I have no doubt my observation is applicable to even crypto currency lenders, because even these days the P2p system isn't as decentralized or anonymous as before where we think we were trading with bots or fake people/scammers.
Is there any truth to the fact that an individual needs to be known in any place before they can qualify to receive loans?
That is, is the need to be known or identified really required to qualify for a loan?
What are thoughts?
October 23, 2023, 11:06:14 AM
I have come to realize that our traditional local banks only really give out loans to persons, or organizations that are known either online or offline and has a location with documents to proof their existence.
That's because they need a guarantee that the one asking for a loan has all the correct information and they know how and where to locate him in case he is defaulting, they even ask you for collaterals or proof of where you are working and for how long and do you own your own land, traditional banks are like this, there are lots of documentation involves and you need to provide guarantors or references with a good status in the community or business they are in.Quote
Same goes for those who use loan apps. You have to at least identify with the verifications stressing on passport, state of residence, age, and the funny thing is that your device location will be required to be turned on while doing all this or even applying for the loan.
There's a lot of risk in asking for loan apps they are illegal here in our country because they are not regulated so in case you default on a loan they will threaten you and contact all your contacts and mess up your life.Taking a loan is not easy you have to prove that you can pay and you will not default and they always have a counter in case you default on a loan, they are not in the loan business just to lose money.
October 22, 2023, 04:07:17 PM
I have come to realize that our traditional local banks only really give out loans to persons, or organizations that are known either online or offline and has a location with documents to proof their existence.
Same goes for those who use loan apps. You have to at least identify with the verifications stressing on passport, state of residence, age, and the funny thing is that your device location will be required to be turned on while doing all this or even applying for the loan.
Same goes for those who use loan apps. You have to at least identify with the verifications stressing on passport, state of residence, age, and the funny thing is that your device location will be required to be turned on while doing all this or even applying for the loan.
Not taking sides, but this is pretty much self explanatory, I mean traditional banks will ask you a proof of existence so that they will know if you have the ability to pay or not. As for the loaning apps, it's the same, but what I don't like about this loaning apps, is that majority of them are really going after you if you missed one payment and they will go to the lengths of embarrassing you in social money specially in Facebook.
I have no doubt my observation is applicable to even crypto currency lenders, because even these days the P2p system isn't as decentralized or anonymous as before where we think we were trading with bots or fake people/scammers.
P2P it's very hard, you really need to be very careful. Although there are platforms like Binance who has P2P features, it doesn't mean that it is safe. You still have to do your due diligence to check the accounts that you are going to deal with.
Is there any truth to the fact that an individual needs to be known in any place before they can qualify to receive loans?
That is, is the need to be known or identified really required to qualify for a loan?
That is, is the need to be known or identified really required to qualify for a loan?
For traditional banks and loaning apps? unfortunately yes. Even if you try to open a bank account, they will ask you a lot of documents and you will be forced to submit.
October 22, 2023, 01:44:37 PM
Is there any truth to the fact that an individual needs to be known in any place before they can qualify to receive loans?
That is, is the need to be known or identified really required to qualify for a loan?
What are thoughts?
My thought is not single, and infact it is conflicting but I will try my best to explain. I had known the traditional loan method which the bank uses for so long and I have always thought that before you could get a loan, you must be known by the institution offering the loan and again you must have a tangible collateral to present which in my country is mostly landed properties.
But when I arrived this forum, although it took many years to discover the lending board. On getting to know the lending board, I was surprised to understand that people give non collateral loan to pals they do not know in person. Little did I know that the bitcointalk account itself is a collateral. Now I have understood that even $20k cannot make me destroy my account.
So, answering OP, if there is a collateral, knowing someone in-person is no longer necessary.
Jump to: