Topic: Loan Required : 0.45 , Collateral worth 0.6 approx (Read 16207 times)

The collateral was sold:


@max2607

Extremely sorry for the late response. I have been away for a really long time and I am aware of it. I don't know if these users are still there on the forum or not but I can now repay back to the user. Just wanted to inquire is it possible I could still get the collateral by any chance. If not I can still repay the amount.

@Darkstar how much money do I owe you please let me know.

@max2607

I'm sorry you've been going through hard times, but communication is mandatory in a situations like this.  You know you owe Hatcher money, you shouldn't need someone to PM you to remind you of that.  You are the only one responsible for paying back this loan, whether you were PM'd about it or not.  You could have logged on from time to time to check this thread, or you could have set up email notifications to inform you whenever there's a reply.  The least you could have done was keep Hatcher and DarkStar aware of your situation.  Just a little bit of communication and you could have avoided this mess all together.


The fact that you've taken the time to write the post above is commendable.    I hope you make an effort to pay Hatcher back to his satisfaction.  Until then my feedback review will remain.   

Just so there's a reference:  According to Hatcher's post above and my calculations you still owe Hatcher 0.02176725 BTC in principal, and the 0.015 BTC that was promised as interest.  That's a total of 0.03676725 BTC.

Hey guys I'm not scamming anyone. No one sent me a pm about this, I have been facing numerous issues in personal life, I had lost my job and because of that it's been a struggle for me for the past year. I have never scammed anyone and will never scam you either. No matter what I will repay this loan with full interest

Edit - I just went through above post and looks like the collateral has been released, I'm extremely sorry to both parties for dragging this but as I mentioned in pm the issue why it's coming to a huge loss if because of the market falling and I did make a mistake buying these assets at a way higer cost. Whatever amount I had got from the loan I had given away to the collateral. Again if I actually wanted to scam anyone I could have stopped sending more collateral and simply ran off. But I never did that, I understand that this isn't some bank loan but unfortunately due to the current circumstances it has made me impossible to take any further step. I had started selling stuffs on eBay and have made little bit of progress. Now again due to my circumstances it's impossible to provide an ETA to either of the parties but it's a promise that I will repay everything with interest once I'm back on track

Wow, that's a big difference in two months.  Sorry for your loss, Hatcher.  This loan looked legit at first, but it sure took a sour turn.  You would be justified creating a scammer flag against max2607.

I have received the collateral.

Sold 6k XLM at 0.0000065 a piece and got 0.03892135 BTC.
Sold 50k BCN at 0.00000005 a piece and got 0.002495 BTC.

I got a total of 0.04141635 BTC from this when there was 0.0631836 BTC left until the principal was paid (so not even counting interest).

I lost money because Max ditched his devalued collateral, and I am making a note of it here because this loan has come to a conclusion - that conclusion being a default. Hopefully he will come back and make it right at some point but I'm not holding my breath.

Thanks for reading,
Hatcher

Time is up, send me an XLM and BCN address @Hatcher. Thanks.

@max2607 - You have 2 weeks (14 days) to demonstrate that you are actually wanting to repay this loan. Else, I will release the collateral to Hatcher. You've dragged this on way too long.

6k XLM + 50k BCN so it's 0.0912BTC against 0.0631836BTC principal (based on your past calculations, I haven't verified it)

@max2607 - can you please give a timeline for repayment. You can't just keep dragging this on forever.

Is this loan still collateralized, at least? I don't mind waiting months for answers, as long as I know the remaining balance is secured. Thankfully there's not too much left on it but I would still like it back.

Sorry, just saw the post now.

0.45 was the amount I lent
0.3868164 was repaid in total, so far

0.0631836 left to pay the principal.

As for the interest, it added up to .06 for the first 4 months before a partial repayment. I then said that the remaining balance could be kept at the same rate, 3%, which would've been 0.00689860 BTC a month until the last repayment.

In total this would exceed .12 BTC, but I'll settle on .1 BTC interest since I don't really feel like going back and doing all the calculations. I just want this loan to be done with.

So 0.1631836 BTC total.

Can I have an update of how much I should repay to you Hatcher. Sorry for the lack of communication been super busy. Can you tell me the remaining amount with the interest included

Mind signing a message again? I've dug through my PMs and I can't seem to find where you've sent that address for some reason. Thanks and sorry for the inconvenience.

Sent https://blockchair.com/bitcoin/transaction/bf8864215a2bf07fec3af1f5b467f4dd5f142e81f13d40b5b3a26a4d21404c1a

Sure. This can work towards the repayment. I have already recieved a partial repayment that I have documented previously in this thread and this can be sent to the same address: 1GfTLjEac2b69zFAfhUxUMExDZSiPKKExV

XPR sold at max's request. Hatcher, send me a BTC address to send the proceeds (0.15686298BTC) please. Sold @ 0.00007851 on Binance (0.1% fee)

Hey hatcher sorry for the lack of communication. I'm right now trying to repay the whole principal amount back to you. I've asked darkstar to update me the collateral he currently holds for this loan and see if liquidating any of the coins is possible

I got this response:

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I sent them another PM earlier today and if they don't commit to repayments, I will see what I can do in regards to your loan.

So, what's going on with this loan? Max hasn't signed in in two months, though he did sign in after I posted here. Did he respond to you?

I've sent max a PM asking for a deadline for both my loan, and this loan. Will give them some time to respond and then proceed from there.

I'm not trying to change the terms. I thought that was just the standard way things were done here. Though I typically don't think it would ever be enforced, certainly not with a communicative borrower, it is fair and it is the way it works on margin funding platforms. How else do you prevent a situation such as this? An inactive borrower goes by the wayside, and the lender's money gets stuck in limbo until the value eventually drops to the principal amount (or right above it), at which point the collateral finally gets liquidated and the lender gets just that and no interest.

The problem with this loan's terms is that there is no "end date". Part of the terms were that he can extend the loan if he needs to. I took this loan because I saw his loan history and he always paid back the loans without any huge extensions required. But this loan has been extended... for 8 months with no sign of it ending any time soon.

Max signs in once a month and pays no attention to this thread. I'm lenient, I can work with Max (if he reappears), but obviously I want some interest. There are many different things that I could've done with this money. I could've simply lent it on Bitfinex, which provided great daily rates on numerous occasions through the course of this loan. Do you think it's fair that I just get the principal back after such a long-standing loan? Because that is what will happen if Max is gone.