Wondering if this is okay... (in General)
January 9 2007 2:19 AM EST
I was wondering, if someone states in the PR for a loan:
"In the event of a loan default I give permission for an admin to transfer all items from my character to ______ as payment for the loan"
Is this allowed (will the admins transfer the items)? I'm looking to get a loan from NS and would like to use this as a form of collateral for the loan.
Need more legal sub text and conditions which result in default.
January 9 2007 2:51 AM EST
Right, right, but I'm speaking in general...is that something admins CAN do? Or would that in some way be against the rules?
They *could* do it. But I don't think they will. ;)
The forum rules state that they are not in the property recovery business, I suggest you state that you will send the items and if you don't expect a reset.
January 9 2007 3:47 AM EST
Thats why I'm asking GL.
I realize they are not in the property "recovery" business, however, what if it isn't necessarily recovery? I'm just asking in the event that something happens and I don't pay NS back please send all my items to him. Since it would be stated in the agreement it is simply fulfilling a transaction rather than a reimbursement.
You are still asking them to do your job, they have many more important things to do and whichever way you look at it, it is still 'property recovery'.
You are basically asking them to be your repo men in a way to avoid a reset.
January 9 2007 3:53 AM EST
I don't think they will go for this. If they set a precedent with it, others will do it. And it's very open to abuse. Take out a loan, promise all your worldly goods as collateral. Sell the cash received for USD and leave. Meanwhile the person who gave you the loan for twenty million gets some leathers, a tattoo, a compound and a katana.
I'm not saying that's what you would do, but if they let you do this there is always the chance that somebody else will.
January 9 2007 4:24 AM EST
I (myself) think this should be possible, not with the entire account but with 1 or 2 of the best worth items the player has.
However, you can do this already yourself. Ask it as collateral and loan it on a weekly basis. Add the price of the loans as interest to the loan.
January 9 2007 4:45 AM EST
CB$ loan deals are always made at the users risk. Therefore there would be no recovery of items/cash if things went sour.
Of course, if there's an appropriate audit trail for us to follow then the defaulter will be reset or fined as normal.
January 9 2007 5:41 AM EST
Why don't you just send him the items as collateral while borrowing the money?
January 9 2007 5:44 AM EST
I've taken out plenty of loans, you really don't need to tell me the options I already have. I was simply asking if this method in particular would be approved.
Thank you for the quick response btw, GB.
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