Meso-borrowing system

I've been in a place before where I'm down to a couple mil and really need some mesos for smegas, and have nothing to sell except stuff I like. In cases like these, a high interest pawn loan is exactly what I need.

Ok here's my idea:
- Players are able to loan other players money, using an item as collateral
- That item, can not be dropped or traded until the loan is paid off
- If loan is paid off, item is transferred back to borrower VIA duey automatically
- If loan is not paid off, item becomes tradeable and droppable to lender
- The APR and amortization length is up to the lender, with either daily/weekly payments or lump sum
- Players get 'good credit' or 'bad credit' depending on how well they've paid off previous loans
- Players with 'good credit' get access to exclusive content

currently the only way to do this is through trusted friends, guildies, or highly reputable players. which you need social capital for, and it's very awkward to ask if you don't know them well. also, could get scammed possibly. would be nice to have a scam-proof loan system.

thoughts?

 

I think it would be very hard to implement (program) and also think it is a bad idea.

It also isn't bullet proof from scams. How will you deal with the length of the loan? If the only condition for an item to become tradeable is for the loan to be fully paid, you could potentially leave people with an untradeable item if you just pay 1 meso less than the full amount.

Also imagine I would have lend you 500m for 1 ws collateral like 2 months back. You could just decide to not pay me back because the value has dropped. I would be stuck with a 380m item and potentially lose 120m for giving you a loan.

Also I just think that you should handle your finances better. Have cash on hand, don't buy things you can't afford or barely afford.

Let this be a lesson for irl as well lol. Credit is bad. Never take any except for housing (kinda necessary evil for most).

And if you really must, then just liquidate gear under market price to free up finances.

 

I can’t even clear HT/CWK/Auf and we’re out here trying to suggest implementing a credit score based loan system before servers are fixed.

 

Generally the loan amount is less than the collateral. So u dont loan 500m for the ws, the amount shall then be based on your knowledge of the game on price fluctuations, and agreement made between 2 parties.

 

What if the price of collateral falls below the loaned amount even when the amount loaned is lower than the value at that point of time?

 

Then that is the failure of the lender to make judgement!

 

2026 Mapleroyals Subprime Mortgage Crisis

 

I am going to offer a million sets of orbis etc as collateral then declare maple bankruptcy thank you all for buying all my orbis etc at near market price guys

 

I declare... bankruptcy!!!

 

Good credit: you’re not on the blacklist
Bad credit: you are on the blacklist

lol

 

I guess if this system was put in place, surely the RTW would be totally undetectable, since they would oppose it; Such a case was because I pawned an article, good observation pro Dave!

 

@SuperNoodless loan shark

 

@Rowzzz That's the right person to look for