What if...

[Satan]

So what if you were paid to repay loans everytime you paid back a loan?

And what if you were instantly refunded some amount of the loan given out should you be scammed?

Are you people of MCM interested?

Scenario by TheRealDan :

The result would look something like this; (Obviously amounts/percentages can all be tweaked)
Borrower;
- Borrow $100
- Payback $250
- Receive extra $20 upon paying back
Lender; (Lend $100, risk $50, profit $75)
- Lend $100
- Receive $175 back (Your/business takes that $75)
- If scam occurs; Receive $50
Business; (No lend, risk $50, profit $55)
- Loan occurs
- Load is payed back (-$20 to borrower, but +$75 = $55 profit)
- If scam occurs; -$50 to lender

 

[Sniper]

My mind went

.. I am so confused

 

[Satan]

My mind went

.. I am so confused

Essentially if you are the person who pays back a loan you are paid. do you think you'd be interested in paying back loans with more incentive like this?

and if you are a loaner and got scammed, you instantly get refunded some portion of the money lost, not waiting for 21 days for paypal to make a damn decision, would you be incentivized to loan more?

 

[MTG]

 

[Sniper]

 

[Satan]

I'm just asking if there was an opportunity that if you are a loaner, would you be interested in receiving a portion of your money if you lost a chargeback case with paypal aka scammed by a user who took your loan and ran away.

And also would you be more incentivized to pay back loans if you were paid in addition to paying off a loan.

Example for loaner: you loaned $80, you lost the case. You receive $35 back instantly due to losing the money with a failed chargeback.

Example for user to pay back loan: You pay back $60 for a $40 loan. YOU get paid $10 for paying it back!

 

[BobTheWizard]

who'd pay the fucking extra? xD

 

[Sniper]

So like insurance sorta... except, I don't like the extra part.

 

[Satan]

So like insurance sorta... except, I don't like the extra part.

you don't like the fact that people who pay back loans get extra pay?

 

[Jack]

If I got paid to pay back loans I would just keep taking out lots of loans, not spend them, and just pay them back and make free money.

 

[Satan]

If I got paid to pay back loans I would just keep taking out lots of loans, not spend them, and just pay them back and make free money.

You'd only get paid some % or a set amount of what you originally paid, not the full amount of what you paid.

Example: you pay back $100, you'd probs get paid $10 extra

Yes the point is to incentivize you to pay back your loans so you don't scam.

 

[Jack]

You'd only get paid some % or a set amount of what you originally paid, not the full amount of what you paid.

Example: you pay back $100, you'd probs get paid $10 extra

Yes the point is to incentivize you to pay back your loans so you don't scam.

Sounds good where do I start

 

[Marth]

I like the insurance, disagree with people getting paid to pay back their loans

 

[lAkjtzAZ0]

k. Who's gonna provide the extra money?

 

[Satan]

I like the insurance, disagree with people getting paid to pay back their loans

Reason ?

k. Who's gonna provide the extra money?

I will answer this depending on how much attention this idea gets from people, thats why I made this thread.

Ideally its insurance for loaners and incentive for people who pay back loans.

 

[TheRealDan]

zDrakon, what your doing makes sense to me although I don't think you have done a very good job explaining it (hence the majority above are confused). Probably should of included a scenario.

So from what I understand a borrower would need to borrow say $100, and when they returned that amount they would pay back $200. However upon returning that full amount, they would receive something like $20 back. (This is almost like just paying $180, but its what a lot of business/stores do when they say '$50' cash back, people only think of the money lol, even if its just subconsciously).

As for the lender who lends that $100, I would assume 'you' (someone else / business) would have some kind of business already going (or just some money you can invest) so that if a scam takes place you could pay the lender say $50 (So they only have a 50% loss). Of course 'you' (someone else / business) would then need to charge a % on any successful loans.

The result would look something like this; (Obviously amounts/percentages can all be tweaked)
Borrower;
- Borrow $100
- Payback $250
- Receive extra $20 upon paying back
Lender; (Lend $100, risk $50, profit $75)
- Lend $100
- Receive $175 back (Your/business takes that $75)
- If scam occurs; Receive $50
Business; (No lend, risk $50, profit $55)
- Loan occurs
- Load is payed back (-$20 to borrower, but +$75 = $55 profit)
- If scam occurs; -$50 to lender

As of what I think of it, its could be a good idea, in theory both the lender and the business (you?) have higher profits than risks, and as long as the business was in an overall profit then lenders wouldn't need to worry about being scammed(or losing too much). That said I personally don't like loaning since there is no Integrity in it, you are letting someone have what they want now at the expense of their wallet, something they don't exactly have which is why they are loaning in the first place.

 

[Satan]

zDrakon, what your doing makes sense to me although I don't think you have done a very good job explaining it (hence the majority above are confused). Probably should of included a scenario.

So from what I understand a borrower would need to borrow say $100, and when they returned that amount they would pay back $200. However upon returning that full amount, they would receive something like $20 back. (This is almost like just paying $180, but its what a lot of business/stores do when they say '$50' cash back, people only think of the money lol, even if its just subconsciously).

As for the lender who lends that $100, I would assume 'you' (someone else / business) would have some kind of business already going (or just some money you can invest) so that if a scam takes place you could pay the lender say $50 (So they only have a 50% loss). Of course 'you' (someone else / business) would then need to charge a % on any successful loans.

The result would look something like this; (Obviously amounts/percentages can all be tweaked)
Borrower;
- Borrow $100
- Payback $250
- Receive extra $20 upon paying back
Lender; (Lend $100, risk $50, profit $75)
- Lend $100
- Receive $175 back (Your/business takes that $75)
- If scam occurs; Receive $50
Business; (No lend, risk $50, profit $55)
- Loan occurs
- Loan is payed back (-$20 to borrower, but +$75 = $55 profit)
- If scam occurs; -$50 to lender

As of what I think of it, its could be a good idea, in theory both the lender and the business (you?) have higher profits than risks, and as long as the business was in an overall profit then lenders wouldn't need to worry about being scammed(or losing too much). That said I personally don't like loaning since there is no Integrity in it, you are letting someone have what they want now at the expense of their wallet, something they don't exactly have which is why they are loaning in the first place.

I'm going to give you credit and copy this to the top of the thread I must've explained it terribly XD[DOUBLEPOST=1486513710][/DOUBLEPOST]While it is important to note http://www.mc-market.org/threads/172526 's concern, this system / idea of mine would be 3rd party regulated thus less risk.