Loans Insurance

[BluIceCube]

Hi,
Create a system that allows lenders to pay a set percentage of money lent out to user's so in the case of a scam (and an unsuccessful chargeback), the money that's built up in the cashpot can be used as compensation for the lender (as long as they followed certain rules, they get a payout. E.g. Paid correct insurance amount, lent with G&S).

We don't know who is going to scam us and if the chargeback will even be successful. All lenders here could use a safety net just in case. Even with the more reputable users, you can never be sure on a larger loan amount if they are exit scamming.

 

[Justis]

So if I understand you correctly, you want MC-Market to act as an insurance provider to people who loan money to others, essentially taking on a portion of their financial responsibility as it pertains to their reckless choices in loanees?

There's a reason why insurance companies do a check on your background history and environment before determining the rates you will need to pay for your insurance.
Not only do we not have the time or resources to do this, but the rates we'd have to charge our users in order to compensate for the losses we'd build up after scams would make it so that it would not be worth paying for, to any degree.

Do not loan anyone anything you are not willing to lose; and if you do loan money to someone, make sure they're someone you're confident in.
Awareness of the risks in loaning to a community full of children with undeveloped senses of morality is the best thing we can offer each other.

 

[BluIceCube]

So if I understand you correctly, you want MC-Market to act as an insurance provider to people who loan money to others, essentially taking on a portion of their financial responsibility as it pertains to their reckless choices in loanees?

There's a reason why insurance companies do a check on your background history and environment before determining the rates you will need to pay for your insurance.
Not only do we not have the time or resources to do this, but the rates we'd have to charge our users in order to compensate for the losses we'd build up after scams would make it so that it would not be worth paying for, to any degree.

Do not loan anyone anything you are not willing to lose; and if you do loan money to someone, make sure they're someone you're confident in.
Awareness of the risks in loaning to a community full of children with undeveloped senses of morality is the best thing we can offer each other.

Fair enough

 

[Skye]

This seems like something that a user of MCM would be willing to host, but not something that is site sponsored.

 

[Mick]

So if I understand you correctly, you want MC-Market to act as an insurance provider to people who loan money to others, essentially taking on a portion of their financial responsibility as it pertains to their reckless choices in loanees?

There's a reason why insurance companies do a check on your background history and environment before determining the rates you will need to pay for your insurance.
Not only do we not have the time or resources to do this, but the rates we'd have to charge our users in order to compensate for the losses we'd build up after scams would make it so that it would not be worth paying for, to any degree.

Do not loan anyone anything you are not willing to lose; and if you do loan money to someone, make sure they're someone you're confident in.
Awareness of the risks in loaning to a community full of children with undeveloped senses of morality is the best thing we can offer each other.

Denied, thanks for the suggestion.