Topic: Loan defaulted by [Edwardard] - page 2. (Read 1077 times)

It's a charity if the loan was defaulted which is going to be the case in this one. It definitely is a good business and I think that @shasan should be raising his interest rates given that his service is a non-collateral loan which in my opinion is justified. If there's a tally or some spreadsheet to see the money that @shasan has earned and lost in doing this loans, I think that's when we can say that @shasan's loan service is a success but for now, I would take your word with a grain of salt and say that @shasan should either stop doing non-collateral loans or have some adjustments for his requirements to get a loan. Your second statement can't be the absolute truth because there are still scums out there that doesn't care about their reputation and will default a loan even if their rank is so Hero Member and above, being a scum loan defaulter don't really have limits and it can be anyone on any rank.

Earning money is not a charity, you got that wrong.
It would be a charity if he doesn't charge a % fee.
Seeing the amount of customers and the amount of defaults I think it's still a good business. Of course when he loses a high amount it looks really bad but that's the risk of giving these loans unfortunately.
Maybe there should be a harder limit for amounts and not as high as 1000$.

Or if you want to give 1k loan then it should only go to very reputable people in the forum. There are so many Legendary and Hero accounts here, not everybody should have the same limits since some accounts just spam this forum for signature gains ( like most of the accounts promoting stake for example).

shasan o shasan! Not again. Sill you are continuing your charity? When you run a charity you don't complain for the money you donated.

Honestly speaking, I still do not understand what is your real motive to continue this business. If a member takes the initiative and collects all the scam accusations you created against the loan defaulters then I am sure it will be more than 50 threads. On average if you lost $100 and created scam accusations for each of them than it's $5k. I believe you lost a few times more than the $5k?

Have you somehow enabled yourself to receive some bitcoins doing some illegal job or business? With this loan service you are hiding the links LOL. Use a mixer, it will be cheaper for you.

Sorry for the cheap joke. I feel sorry for your loss brother. $1000 is not some funny amount for many.

Not that anymore support and tag you need to this scammers feedback page but the flag was supported and left a negative feedback too. Let's hope this fucker regrets and decides to pay back.

Coinomize campaign, the signature the defaulter is wearing, isn't managed by Royse777, is managed by julerz12. You can check yourself:

🚧[CFNP] [banned mixer] | Bitcoin Mixer | Signature Campaign ~ Up to $130/week

I am deeply concerned after reading this post because there is a possibility Edwardard has alt-accounts or intends to operate them to run the loan scam again. Nobody has noticed evidence linking any account to Edwardard but if he managed to get one loan of $1000 it means that could be his modus operandi. We all need to be looking for signs that may indicate potential wrongdoing.

As for Royse777, he is taking on a far too many forum members for campaigns he manages that other campaign managers would never consider enrolling because of their feedbacks. I cannot speculate how much him participating in that signature campaign or giving a $220 loan may have affected your decision but it seems it played a part.

I don't think that the interest rate was high initially because it was $1000 to pay $1050 but due to the extension of payback time was what compounded the interest to  $250, that is why he is to pay the total of $1250.


Yea, you are right but do you know that even if shashan lends people money with zero interest there will still be loan defaulters because some people have it in mind to collect loan and never to pay back, but I doubt if Edwardard case is the same. This is because he has spent so much time here in the forum and understands the penalty for his actions. I hope all is well with him.

I agree with you on this, because this is how the banks in my country that gives loan to a government worker do. They will have a percentage that is been deducted from your monthly pay to enable them get their money back within a period of time depending the amount loaned out and the rich timeline.

Shashan can apply this method since loans are been given out to forum members in a signature campaign. This will enable him get back some percentage of his money should in case the lender has plans not to pay back the money for some reasons best known to them. Because tagging the account won't bring back sashan's money and he will keep on running at loss especially when the defaulters have alts in the forum.

$1000 is a big amount of money that can discourage someone that doesn't have much funds on him to stop the business. Shashan, sorry for the loss and I hope that Edwardard comes back to clear the air and pay up.

The consensus is to not give away money for free, in other words to not give loans without taking a collateral. However this is an ideal scenario having been a lender on another site, nobody can cough up any collateral whatsoever and the percentage of collateralized loans is close to 1%.

At the same time turning down these loans means potential losses for the lender because after all the lender is here to make money from their capital. Hence it ends up being a gamble where you a putting money on different high risks loans and allowing the users to spend that money and pay as they possibly can.

Its a risk the lender has to carry.

I really don't understand what's happening on this forum this days, because why will someone take a loan of $1000  for 5 months now and fail to pay. This is actually getting out of hand, and I think a more concrete measures need to be put in place so as to avert such incidents occurring later in the future, because with this act, it's likely to start discouraging people who give out loan not to give loans anymore, which will literally affect those who genuinely have been keeping to their terms of loan by paying at time due. And I think it's high time we get a collective consensus on the best way to avoid this menace likely to harm our forum.

At some point God will have to understand that the interest charged is a function of risk. The interest charged by sashan serves to compensate people who, as in this case, defaults on a loan. I remember two cases of people who were lending and in the end they stopped because of defaults they ended up in losses. If they do not charge interest the losses would be greater, and God is not going to come to this life to compensate them for the money lost, in any case we will see what he does in the next life.

Well, people actually do that, take part in campaigns with several accounts, as long as they equally contribute to discussions and to the community, as long as they don't create topics with one account just to post with the other etc.

Though the point here is that he was facing difficulties in real life, but everyone instead of showing some compassion just threw him under the bus like he is some sort of used napkin.

I'm not defending him though, these are my opinions based on observations, but maybe just maybe if OP was to let the interest on the loan repayment slide, he might be willing to come back and work things out in time by working and paying back the original amount in a few month, this could significantly increase the chance for OP to at least get his original money back.

Definitely, all isn't well with the user. They were once a valuable member of this forum with several managed campaigns under their belt. Then, they started struggling to get campaigns to managed and began to enroll as participants in others campaigns.

However, whatever happened, Edwardard was supposed to have continued to keep in touch with OP and made every indication that they would repay the loan. $1,000 isn't chicken feed. It's a substantial amount of cash. To even think they ignored OP in all channels he tried to reach out to them while they were last seen in the forum in October points to one thing – deliberate attempt not to respond to OP.

I doubt they would, especially now that their account has been destroyed with tags.

Not fully experienced about campaigns but since these scammers use multiple accounts to build reputation and scam people, couldn't they just use their accounts to make honest money by just being in multiple different campaigns across their accounts? I think its just advertising the websites to the best of their ability? If this user does have multiple accounts, I'm unsure as to why they couldn't just do that to earn money instead of having to scam honest hard working people here.

***I think s/he has many more accounts as merit wasn't introduced earlier. Note: I have no proof whether s/he has any alt account or not.
***Edwardard woke up after a long time and asked for a non-collateral loan. At that time s/he wasn't accepted by anyone.
*** Edward was accepted on a signature campaign which was managed by Royse777 while payment was 100$+ bonuses though s/he had not fulfilled the merit requirement.
*** Started earning merit
*** Designed signature or something can't recall.
*** Earned money from review campaign and also managed review campaign (on that time could scam more money (fund of review campaign could take a loan from a lender as on that time the user had joined signature campaign as well as had a good number of merit and perfect activity)
*** Gave a loan 220$ to a newbie which took sympathy from the community though I do not know whether the loan was by mistake or it was a drama to get sympathy and get our concentration.
*** Started taking a loan and defaulted last time

Last I spoke with him (around May), he said his father was sick and he needed to attend to him at the hospital; this might be the very reason that he's having trouble paying this loan.
That's also the time his weekly posts got so low that I had to remove him from a signature campaign.
As OP said, he remained quiet and hasn't responded for months now so the chances of him returning and fixing this problem is highly unlikely. Flag supported.

Exactly! Shasan has shown a big amount patience waiting for Edwardard to return since his last past talking about the loan on the forum. It seems shasan was hoping that Edwardard sooner comes back and return back the late loan, but unfortunately it didn’t happened and I doubt it ever will.
I really empathize with Shasan especially knowing that he had the same experience recently, as I remember. This situation must be incredibly frustrating and poses a risk that Shasan might stop offering loans which would be unfortunate for a lot of us. Personally, I rely on loans because I easily can repay them through signature campaign earnings without any external job or income.

In this case, even for a trusted profile borrowing $1000 and promising a quick return of one month or so can be a bit suspicious. Such actions not only harm lenders but also affect those genuinely relying on loans during hard times and actually repaying them.

That's actually a huge amount of money, and the guy was in a good-paying campaign, which could have just enabled him to pay up the loan. But one thing I understand is that for some people, it's usually easy to acquire loans and debits, but the repayment is very difficult for them, and they tend to shy away from their debt. It's very unwise of him to ruin his account and reputation this way, or maybe he is someone who doesn't just have one account on the forum. Sorry for this loss, Shasan. $1000 is no penny. His last active was just towards the end of last month, which means he's just around, but International never wanted to reply or contact you. I support your flag.

That already looks suspicious to me, not sure if shasan have been here in the community in 2017 because that's where the Edwardad is very active, I can't remember if I have been in his campaign back then. Because during that time he has a lot of bitcoin paying signature campaigns under him.

And then suddenly he disappeared from the scene and then so I was and maybe many members here when he returned to the community, join a signature campaign and then for a $1000 loan and run. Maybe he was in dire situation that time, but I guess everyone is different and act not normal to the point in ruining their reputation here when our back is against the wall.

Sad to see that you have been deceived by a hero member who at least you have trusted with the unsecured loan, with the loss of $1000+ is not a small thing it is really big what I expected but why he did not return it in the past when the loan was still on Coinomize if I'm not mistaken.

Hopefully he returns to the forum and resolves this issue so that you don't experience any losses.
Support the flag above.

Once people are asking for extension after extension for the same loan it's always a bad sign. That it happened with such a high amount is even more annoying.

The strange thing is, Edwardad himself was scammed and created a flag here in this forum at the beginning of the year. I remember I spoke with him at that time that the person is full of shit, still he didn't listen and gave the loan. Of course I was right and the clown ran away with the money.
Him doing the same now shows his weak character. 

This is very sad honestly, totally destroyed a hero ranked account for a mere $1000, an amount he could have earned in 10 weeks if earning atleast, a $100 weekly, it's very pathetic how some forks will easily give up gold for peanuts, simply because they feel it may take longer for them to sell the gold at its worth, if they were to be patient and find the right buyer.

So so sorry for shasan, a thousand dollars is not a small amount of money to lose like this in this time, that over a million in my local currency going by today's exchange rate, but still, this amount cannot do very much when it comes to starting a business or so..

What I did suggest is that, those who are good wit investigations should please get to work, I am very sure that the scammer have an alt account which he will surely keep accessing the forum with, and possibly continue earning from signature ad campaigns, we should dig such account out and tag it as well.

So sorry shasan, I hope you recover this money back soon.