Enhancing loan rules / guidelines

[Alexandra_Forge]

Your answer ICly is a Lien

 

 

Titles and Deeds should be taken, as they are IRL and signed over to the creditor.... If someone sells that car, well, they sold a car without a title, and a car that the "loan agency" owned..... They give their house to a friend so you cant come after it.. Well... They don't have that right, the deed is in your name..

 

Finding the property may be tricky, and involve more legal work to hold the person accountable for the potentially lost property.... But this is what is done here in the states.... If I go take out a loan and use collateral, you bet your ass I have zero rights to that property aside from them allowing me to use it before the loan is paid off.

 

Take the ownership documents... Titles, shares, deeds.. Have them sign them over with terms listed in the contract, go beyond and have a third party attorney "Notarize" the documents..... and if they go MIA, and they don't have your money... Then you technically can go and take that property in which you hold legal ownership of due to breach of contract.

 

If an admin doesn't support this IC method, then...… Well... Yeah... It should be taken to management.

Edited March 7, 2020 by Alexandra_Forge

[Midsummer Night's Dream]

1 hour ago, Giles said:

I'm sorry, but I can't agree with you on this one. You seem to have not read or understood the fact that a majority of these issues happen with people who take OOC advantage of going inactive. You are defending their IC rights when they are taking 100% advantage of an OOC issue. People know that they aren't going to go in debt and they can't lose what they don't have. Going inactive is their way of getting out of paying back the money, whether they play on that character again or not. Most honorable people who are going inactive, especially when buying a house, would tell PM that they are going inactive. You would think they would also give some notice and try to work something out OOC'ly with the lender but they usually "forget" that part.

 

In real life, if you default on a car loan or a house loan, you lose the car or the house. Your credit is penalized and/or ruined. There are real life consequences to not paying back your financial debts. That doesn't happen in the game all the time. There are no real consequences. See examples 2 and 3 in the OP's post. There is no punishment most of the time because if a report is made, Admins rule that it's an IC issue. Borrower wins again and there is nothing the lender can do. No consequences to the borrower, they get away with it.

 

This is an OOC issue as well as an IC issue. The screening that you suggested, there is no way to IC'ly check for an actual risk of a borrower. You can't check their credit, which would be a main precursor to loaning money out. You can't really verify their job income because no one gets consistent paychecks besides the $500-$800 checks (Unemployment/Mechanic/Etc.) and the initial 40 hours of paychecks. What would you suggest they screen for next? Trying to get an Admin to show you their GTAW record? I doubt it. Then the borrower will complain about them using OOC information to influence IC decisions, which would be metagaming. There must be some sort of regulation to this that results in real consequences for people who take OOC advantage of this situation, which is what normally happens. The current situation is 100% favorable to the borrower and not to the lender and that's not how it works in real life. There must be a compromise.

OOC advantage is a problem, I agree.

 

To be entirely honest, I was on fence about this because I’m concerned about the potential for abuse (I know many things can be abused, but that fact should not mean we overlook the potential here or in any other suggestion) 

 

As I told another:

[Centauri]

1 hour ago, Raindance said:

The rules state " (a namechange / CK during an active loan will lead to your money being removed and given back to the loan contract owner)" so I'm pretty sure this also applies to people going inactive. I think staff has got your back in situations like these if you'd post a refund request. It is script-wise possible to go in debt according to /stats (there's a "debt" stat) so I always kind'a assumed this is used whenever someone takes a loan and they don't pay it back for OOC reasons

They actually don't have your back. Going inactive has to be handled IC through the courts. The only person that helped me beyond the contract was Thirteen as he investigated the player and how the money was spent. The debt stat isn't used as they don't put players in debt. 

[Dios]

1 hour ago, Alexandra_Forge said:

Your answer ICly is a Lien

 

 

Titles and Deeds should be taken, as they are IRL and signed over to the creditor.... If someone sells that car, well, they sold a car without a title, and a car that the "loan agency" owned..... They give their house to a friend so you cant come after it.. Well... They don't have that right, the deed is in your name..

 

Finding the property may be tricky, and involve more legal work to hold the person accountable for the potentially lost property.... But this is what is done here in the states.... If I go take out a loan and use collateral, you bet your ass I have zero rights to that property aside from them allowing me to use it before the loan is paid off.

 

Take the ownership documents... Titles, shares, deeds.. Have them sign them over with terms listed in the contract, go beyond and have a third party attorney "Notarize" the documents..... and if they go MIA, and they don't have your money... Then you technically can go and take that property in which you hold legal ownership of due to breach of contract.

 

If an admin doesn't support this IC method, then...… Well... Yeah... It should be taken to management.

This. IRL in the States you can't sell someone something you're indebted to, especially if it's something of great value. Properties can't be outright sold to a friend without paying off the mortgage or declaring bankruptcy, in which the lender still gets a payday b/c of the other person's mishaps, or they reclaim ownership of the property, be it a house, car, or even something super simple like a computer for resale.

 

If a court case's won in the lender's favor, if the lender can't get their money back, they should be able to get, at least, whatever -of value- was bought with that money. If nothing pertinent's found, i.e. assets, then the player should be indebted. 

Edited March 7, 2020 by Dios