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  • repaying loans

    I plan to repay my loan in the future. I have the persons first name but how do I contact him to do so in the future. I do not have his email address. Does the site do it?

  • #2
    Hi razorgirl - the 'loan' thing is just semantics, perhaps to avoid regulatory issues.

    These are considered to be purchases by everyone here and, to my knowledge, nobody has ever attempted to pay back a loan.

    If you need to get your money back at some point, I suggest you just sell your BTC here or on any other platform available to you.

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    • #3
      False. You can repay your loans. It is in your agreement. The borrow must contact the lender first and pays the fee if any.

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      • #4
        Originally posted by razorgirl View Post
        I plan to repay my loan in the future. I have the persons first name but how do I contact him to do so in the future. I do not have his email address. Does the site do it?
        Contact emails are in the loan agreement and paypal transaction details.

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        • #5
          Originally posted by adminatbtc4peace View Post
          False. You can repay your loans. It is in your agreement. The borrow must contact the lender first and pays the fee if any.
          I never said it wasn't possible. It's just pointless.

          The terms of the lending contract state that the principal value of the loan is denominated in USD, but must be repaid in an equivalent amount of BTC at it's current value. The premium paid is considered to be interest, and is non-refundable.

          Therefore, why bother trying to repay a loan to someone who doesn't want to be repaid, when you can sell your BTC more conveniently for the same value (or at a premium if you use xCoins)?

          If, for some strange reason, you wish to repay your loan by selling your coins back to the exact same person that you bought them off, then go for it and best of luck. I expect that it is possible, but highly unusual, and it means that you are kind of missing the point of this platform....

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