Shotokan Wrote:an example . . .
Say someone borrows $100,000, for 30 days. They would pay 4000/day for 30 days. if they were to miss a payment i would tack on an extra payment or something along those lines.
Anyways, i would really appreciate all or any thoughts/advice on this idea . . .
ps to all the spelling critics, sorry for any bad grammer or spelling 
sure there is a few errors
I saw an example also. How does specifying a time indicate distance?
Ok, back on topic. If you were to do something like this, you should put a cap on your loans. Also, the bigger the loan, the lower the interest rate. I believe it has already been said, but you may be catering to a small window of players here.
that's not a bad idea with the bigger the lower, but i think i may time base the interest
ex
1 week 5%
2 weeks 10%
1 month 15%
anymore 20%
i'm also going to ask for a few bank statements to see about how much they make. and yea i'm sure it will be few and far between but who knows.
there will definatly be a cap as there is only so much money in my bank!
do you genuinely think you're going to be able to reap daily payments from your customers? it's not going to happen.
you're going to run into a number of problems, a few of them already outlined in this thread. one significant issue that you're going to run into is that you'll be subservient to your clientele. someone doesn't pay their daily rate? you can't just start putting them in the hospital, you're going to have to be more diplomatic. that is to say, you're going to have to no recourse other than asking politely that they pay, as "muscling" for your payment isn't likely to get you paid the full amount you're owed based on the arrangement.
as far as your latest idea for scaling the interest rate based on the length of the loan... you have no recourse for your payment, so why scale it? you'd have to find some way to induce the borrower to pay you back... and i just can't think of anything that will achieve that for you. banks don't give money to people they haven't done business with when said bank won't have access to assets that they can turn into liquid in the event that the borrower defaults; you really shouldn't be loaning money out in AL based on this idea alone.
at the end of the day though, you're just not going to see enough action to merit any of the hassles inherent to the practice of loaning. you'd honestly better serve your time clicking on advertisements or filling out surveys for 2 cents each and converting that $10 a month into credits. you'd make a shitload more AL cash and you'd spend about the same amount of time doing something qualitatively fruitless.
i'll be yor enforcer for a cut of the intrest after they finished payments.
i have a resume` too. ask FlyingDutchman how fast i got his 160k back from a member that left the gang, once i told him i would get it for him.
i made the guy sell his house to pay him off.... later i gave the dude some of my $$ cuz i may have been too mean in doing so, but the job got done lol
well I always wanted to post an idea to this forum regarding loans, but I was thinking about a bank loan implemented in the game by zen, I mean people can get cash out of there, depending on their level, with an interest rate, a not too big one, and if they can't pay the money back, things like their properties [house, weapons, armor, stims, hope cars in the near future] will dissapear, the things that dissapear having a total value equal to the money purchased...
But I just kept on postponing this idea, and look, now it's here... what do you think?
sounds like a good idea to me!AlienaFerox. but i figure since i've put so much thought into i wouldn't mind doing it myself.
sorry mick, but i'm pretty sure i can do just as well as you in enforcing for the guys i would need you to intimidate but thanks much for the offer.
ben, if they play daily why would they not pay off a debt to a person they borrowed from? and i am pretty kind i would think
as for the time spent, well . . . well spent time just a new way for me to enjoy the game! afterall it is a game why not help ohers for a small fee, of game money
Shotokan Wrote:sounds like a good idea to me!AlienaFerox. but i figure since i've put so much thought into i wouldn't mind doing it myself.
if you think so, trust me I didn't say that just to discourage you or try to say your idea sucked, I was just thinking that some scripts will be able to solve any problems you might not be able to, like retards who won't pay money back... the scripts will make sure their possesions will be substracted from them, and they won't be able to cheat in this way...
and, to prevent cheaters creating a new account, loaning $100.000 and then sending them to the principal account, I propose the loan shouldn't be bigger than the total sum of money their possesions are worth... it's just what I think, if you think i'm talking crap feel free to tell me
my gang and i thought about this exact idea a while back,our loans would've been up to a couple mill, but we decided not to do it. your interest rates are too high, its tough for lvl 10-15 to get 4,000 a day, how do u expect them to pay off their loan if their only making enough to pay off their interest. (exactly the problem people have today in rl). also if i was in need of money without any intentions of paying off the loan, i wouldnt mind getting my ass beat daily for 500k+
Player Based Loans are going to fail, and hard.
Bank Based loans could work.
Borrow up to 50% of your house's current value. Low interest Rate. Daily Payments: if you miss a single payment, the next day's gym trains revert to like you didn't have the house, if you miss something like 10-15 in a row, your house gets repossessed.
This way would restrict the amount of borrowing for lower level players, yet have enough punishment where the higher level people would respect the payments.
Could definitely get interesting!
the interest would be a one time fee not something like 15% a day . . . unfortuantly i have no power over anyones account so unlless Zenith steps in and does this with the game herself i will hope that players who are interested in loans respect the honour system. as i have seen most people in this game are quite fair in the way they do things.
AlienFerox"if you think i'm talking drek feel free to tell me "
not at all this is the reason i put the idea in here to see what people of all levels thought.