Loan default and account will be sold.

shasan

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Quote from: The Cryptovator on February 20, 2019, 03:53:07 PM

Hope OP understand why he should not accept account as a collateral. If you accept any bitcointalk account as a collateral in future then may be your profile will be red also. So, please take care yourself as well.

I have stopped taking account as collateral from January 26, 2019 and also will never take account as collateral anymore by any means. Though I could save my principle and we could prevent this account sell as it was under my control.

Quote from: coinlocket$ on February 20, 2019, 05:03:39 PM

Tagged till will be fixed, PM me when if will be repaid and I will remove the tag.

I will pm you if the borrower can repay the loan, though there is almost no chance.

Quote from: morvillz7z on February 20, 2019, 06:21:12 PM

As Coolcryptovator stated above you should not have taken the account as collateral. I hope you understand what's the current stance towards account sellers.

Yes, I understand it through this account could be sold undoubtedly if the account wasn't on collateral.

Quote from: morvillz7z on February 20, 2019, 06:21:12 PM

Here's a good example - https://bitcointalksearch.org/topic/legendary-account-seller-5102198

I saw it also posted on it and when I saw that thread and also another thread posted by xtraelv stopped taking account as collateral.

As already tagged the account I am locking the thread and will unlock if require or get rest of the payment.

morvillz7z

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As Coolcryptovator stated above you should not have taken the account as collateral. I hope you understand what's the current stance towards account sellers. You'd basically risk getting yourself negged for $100. Here's a good example - https://bitcointalksearch.org/topic/legendary-account-seller-5102198

His last post was on October 25, 2018. Almost two months without any activity along with him offering his account as collateral, not to mention "Loan Purpose: Trending". Cheesy

Three huge red flags right there (screaming loan default)...why lend money to people like that? smh

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Tagged till will be fixed, PM me when if will be repaid and I will remove the tag.

The Cryptovator

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Tagged account for Default loan. So account is useless, he will not able to sold it anymore. Since borrower have not returned full lent amount that means account is under by Default loan. Never mind he had tried to sell account. That's good somehow OP got back his capital. Account should not handover until borrower clear all lent amount include interest. If lender not give me clear statement and proof that all lent amount include interest has been returned to him, I am not going to remove my feedback's.

Hope OP understand why he should not accept account as a collateral. If you accept any bitcointalk account as a collateral in future then may be your profile will be red also. So, please take care yourself as well.

shasan

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Quote from: magneto on February 20, 2019, 02:09:53 PM

I personally would not do it. The whole point of a collateral is to give the lender security. If the loan isn't paid in full (principle + interest) then the lender should not be forced to give up the collateral.

I agree with you.

Quote from: magneto on February 20, 2019, 02:09:53 PM

Also, him trying to sell the account is indeed shady. I wouldn't encourage that behaviour by giving him his account back.

That's why I have created this scam accusation.

Quote from: magneto on February 20, 2019, 02:09:53 PM

He should be repaying his loan with his own money, not with the proceeds of selling his collateral. Unless you've made a formal agreement in terms of giving back his account due to him repaying the principle section of the loan, I wouldn't do it given that there has been multiple extensions already and he has failed on his promises on many levels, and that the account sold wouldn't do any good now that you've made it public anyways.

I wanted to take my principle as something is better than nothing. But I can't give it back as I know he will never pay me the interest. Yet I could consider if he never mentioned that account will be sold. If he could not pay the interest I could give up the interest of him. But the case is not like that way.

magneto

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Quote from: shasan on February 20, 2019, 12:32:18 PM

What happened:: Loan defaulted and account will be sold

Scammers Profile Link: https://bitcointalksearch.org/user/mostkey-875849

Reference Link: https://bitcointalksearch.org/topic/m.48648655
Amount Scammed: 2 months interest. about 0.02BTC or more
Payment Method: Bitcoin BTC
Proof of Payment: https://www.blockchain.com/btc/tx/aeffca360175249a1f3ea9b0fcc2586fb672d3ac9af161d7a60dedbe10260b58
PM/Chat Logs: http://prntscr.com/mnrake http://prntscr.com/mnraxd
Additional Notes: This user took a loan from me and repayment date was more than two months ago. Note the account was on my collateral and it is still on collateral. He has taken a lot of time for extension but never send any interest or principle amount. The person sent me the principle amount but not sent any interest and now asking the account back and will sell the account once get back. So, I think it should be tagged. I need opinion either the account deserved tag or I have to refund the account back. Not if I give back the account then the account might be used for other scams.

I personally would not do it. The whole point of a collateral is to give the lender security. If the loan isn't paid in full (principle + interest) then the lender should not be forced to give up the collateral.

Also, him trying to sell the account is indeed shady. I wouldn't encourage that behaviour by giving him his account back.

He should be repaying his loan with his own money, not with the proceeds of selling his collateral. Unless you've made a formal agreement in terms of giving back his account due to him repaying the principle section of the loan, I wouldn't do it given that there has been multiple extensions already and he has failed on his promises on many levels, and that the account sold wouldn't do any good now that you've made it public anyways.

shasan

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Quote from: DireWolfM14 on February 20, 2019, 01:32:52 PM

I think if the borrower still owes you money, you should hold on to the account. Even if it is only the interest that is still due, an agreement is an agreement. 0.02BTC is a reasonable amount, and if the account is worth more than that to the owner they should pay.

The borrower will never pay me. He has paid the principle amount because he has got a buyer of his account probably more than the principle amount.

Quote from: DireWolfM14 on February 20, 2019, 01:32:52 PM

As for borrower planning to sell the account to earn the rest of what's owed... That's a shady deal, and sort of shows the borrower's lack of ethics. So many things could go wrong, including the borrower selling the account and then disappearing. Leaving you without your payment, and leaving the account's new owner with a red-tagged, worthless account. I think you're right in tagging the account and not giving it back.

You are right as the borrower planned to sell the account I will not get any interest and also the buyer of that account will be scammed.

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I think if the borrower still owes you money, you should hold on to the account. Even if it is only the interest that is still due, an agreement is an agreement. 0.02BTC is a reasonable amount, and if the account is worth more than that to the owner they should pay.

As for borrower planning to sell the account to earn the rest of what's owed... That's a shady deal, and sort of shows the borrower's lack of ethics. So many things could go wrong, including the borrower selling the account and then disappearing. Leaving you without your payment, and leaving the account's new owner with a red-tagged, worthless account. I think you're right in tagging the account and not giving it back.

shasan

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What happened:: Loan defaulted and account will be sold

Scammers Profile Link: https://bitcointalksearch.org/user/mostkey-875849

Reference Link: https://bitcointalksearch.org/topic/m.48648655
Amount Scammed: 2 months interest. about 0.02BTC or more
Payment Method: Bitcoin BTC
Proof of Payment: https://www.blockchain.com/btc/tx/aeffca360175249a1f3ea9b0fcc2586fb672d3ac9af161d7a60dedbe10260b58
PM/Chat Logs: http://prntscr.com/mnrake http://prntscr.com/mnraxd
Additional Notes: This user took a loan from me and repayment date was more than two months ago. Note the account was on my collateral and it is still on collateral. He has taken a lot of time for extension but never send any interest or principle amount. The person sent me the principle amount but not sent any interest and now asking the account back and will sell the account once get back. So, I think it should be tagged. I need opinion either the account deserved tag or I have to refund the account back. Not if I give back the account then the account might be used for other scams.

Topic: Loan default and account will be sold. (Read 260 times)