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Topic: Sr. Member up for Auction (Read 1140 times)

legendary
Activity: 1302
Merit: 1025
August 12, 2016, 11:21:56 PM
#21
Account has been sold. Thank you for participating in this auction.
legendary
Activity: 2296
Merit: 2262
BTC or BUST
August 12, 2016, 08:40:51 PM
#20
Irrespective of that, if there is a balance left over after the collateral has been liquidated, why should it belong to the lender, not the borrower?

In the real world, if you had a $100k loan secured against a $200k house, but were unable to meet repayments, are foreclosed and the house sold, would you expect the lender to keep the whole $200k proceeds, or just the $100k that they are owed?
 
I was not criticizing jacee or his answer, just curious about what common practice is in these situations.


Common practive in lending is to take collateral that is worth 120%+ of the loan amount so it can be sold for MORE than the loan+interest amount..

The defaulter doesn't need a refund. Anyway the little tiny extra BTC is not worth the pain in the ass that is selling accounts..

Many lenders explain this right in their OP..
legendary
Activity: 1302
Merit: 1025
August 12, 2016, 08:33:51 PM
#19
I bid 0.04btc
mshra1994 won the auction.
I have sent a pm already. I'm now waiting for a reply.
legendary
Activity: 1932
Merit: 1737
"Common rogue from Russia with a bare ass."
August 12, 2016, 07:36:50 PM
#18
As a matter of interest, if the auction raises more than the debt, do you return the balance to the borrower or keep it?
I get to keep it. I hae tried contacting the borrower regarding the loan and tried waiting for another 2 weeks for him to repay but I received no response so I guess it's okay for me to get it all.
I would've gave him a share if he made effort to contact atleast since I only want to get the amount I lost.

Soo the lender take the full risk lending the money, holding the account as colateral and go auction it, if the prices cross the interest of the repayment, or the ammount lended why would the lender send anything to the person who dumped the account to him or her? Really, do you believe this is a fair question to be made? The account sell should only be allowed to who lend money and has a signed message this way we could control the bad sellers with hacked accounts.

Yes, I do  believe that it is a fair question, otherwise I wouldn't have asked it.  Roll Eyes

There is the (slim) possibility that something beyond the borrower's control may have prevented repayment or reply. You know neither his intentions or situation.
Irrespective of that, if there is a balance left over after the collateral has been liquidated, why should it belong to the lender, not the borrower?

In the real world, if you had a $100k loan secured against a $200k house, but were unable to meet repayments, are foreclosed and the house sold, would you expect the lender to keep the whole $200k proceeds, or just the $100k that they are owed?
 
I was not criticizing jacee or his answer, just curious about what common practice is in these situations.
hero member
Activity: 756
Merit: 501
August 12, 2016, 05:28:43 PM
#17
As a matter of interest, if the auction raises more than the debt, do you return the balance to the borrower or keep it?
I get to keep it. I hae tried contacting the borrower regarding the loan and tried waiting for another 2 weeks for him to repay but I received no response so I guess it's okay for me to get it all.
I would've gave him a share if he made effort to contact atleast since I only want to get the amount I lost.

Soo the lender take the full risk lending the money, holding the account as colateral and go auction it, if the prices cross the interest of the repayment, or the ammount lended why would the lender send anything to the person who dumped the account to him or her? Really, do you believe this is a fair question to be made? The account sell should only be allowed to who lend money and has a signed message this way we could control the bad sellers with hacked accounts.
full member
Activity: 238
Merit: 100
August 12, 2016, 03:11:02 PM
#16
 :)I am going to sleep now and I hope that i have won this auction.Now i will come in morning and do the transactions and other things that are required.Thank you 😊
full member
Activity: 238
Merit: 100
August 12, 2016, 12:53:47 PM
#15
When you all gonna finalise this because now this is 11:30 pm in my country and i will have to go for sleep after some time.Is anyone want to bid more ,it will be good if its finalised soon.
full member
Activity: 238
Merit: 100
August 12, 2016, 08:29:55 AM
#14
I bid 0.04btc
legendary
Activity: 1302
Merit: 1025
August 12, 2016, 06:17:13 AM
#13
As a matter of interest, if the auction raises more than the debt, do you return the balance to the borrower or keep it?
I get to keep it. I hae tried contacting the borrower regarding the loan and tried waiting for another 2 weeks for him to repay but I received no response so I guess it's okay for me to get it all.
I would've gave him a share if he made effort to contact atleast since I only want to get the amount I lost.
sr. member
Activity: 265
Merit: 250
August 12, 2016, 05:33:30 AM
#12
i'm sorry i bid 0.038

thank you
full member
Activity: 238
Merit: 100
August 12, 2016, 05:01:20 AM
#11
i bid 0.036                                                                                                                                                                     
i bid 0.036                                                                                                                                                                     
I already bid for 0.036btc before you.So i think you have to increase it by 0.002 more to make next bid.
Mishra is correct. You should bid 0.038 if you want to be the highest bidder.

Anyway, I have decided to end the auction earlier.
The winner will be selected after 12 hours from this post.
I will be out for the next day so I will end this early.
It means i have the last bid till now of 0.036 btc
legendary
Activity: 1932
Merit: 1737
"Common rogue from Russia with a bare ass."
August 12, 2016, 04:53:27 AM
#10
As a matter of interest, if the auction raises more than the debt, do you return the balance to the borrower or keep it?
legendary
Activity: 1302
Merit: 1025
August 12, 2016, 04:31:18 AM
#9
i bid 0.036                                                                                                                                                                     
i bid 0.036                                                                                                                                                                     
I already bid for 0.036btc before you.So i think you have to increase it by 0.002 more to make next bid.
Mishra is correct. You should bid 0.038 if you want to be the highest bidder.

Anyway, I have decided to end the auction earlier.
The winner will be selected after 12 hours from this post.
I will be out for the next day so I will end this early.
full member
Activity: 238
Merit: 100
August 12, 2016, 04:00:41 AM
#8
i bid 0.036                                                                                                                                                                     
I already bid for 0.036btc before you.So i think you have to increase it by 0.002 more to make next bid.
sr. member
Activity: 265
Merit: 250
August 12, 2016, 03:18:42 AM
#7
i bid 0.036                                                                                                                                                                     
full member
Activity: 238
Merit: 100
August 12, 2016, 01:41:45 AM
#6
0.036btc
legendary
Activity: 1302
Merit: 1025
August 11, 2016, 07:46:24 PM
#5
Did you tag it with any feedback for the default on the loan that you gave to him?
Will you take it off once it is sold off to the bidder?
If all is done then I will put in a  bid of:

0.032

Does it have any feedback even neutrals whatsoever on the trust page?
I have not tagged it since it is in my possession.
No feedbacks is on the account from anyone. Completely neutral.

0.034                                                                                                                                                     

You're the highest bidder. If no one bids after 48 hours from your post, you win.



 account gained +14 more activities. Total activity is 250+
Goodluck everyone!
sr. member
Activity: 265
Merit: 250
August 11, 2016, 10:44:05 AM
#4
0.034                                                                                                                                                     
hero member
Activity: 1008
Merit: 1012
August 11, 2016, 07:36:44 AM
#3
Did you tag it with any feedback for the default on the loan that you gave to him?
Will you take it off once it is sold off to the bidder?
If all is done then I will put in a  bid of:

0.032

Does it have any feedback even neutrals whatsoever on the trust page?
sr. member
Activity: 265
Merit: 250
August 11, 2016, 02:47:57 AM
#2
0.03                                                                                                                                                                                                       
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