This isn't a hard fix or system proposal of any kind. But could be helpful nonetheless.
If you are going to give out a loan, consider a few things first:
1. What is this person going to do with the loan? Are they using it in order to make more money later (plot(s) they intend to sell later, machines or tools that will produce sellable items, etc.) and try to estimate how well this might work.
Obviously not everyone will want to give away business secrets but if the loan is for something that will earn income then it may be possible to ask for an earlier repayment deadline or slightly higher interest.
2. Speaking of interest, be reasonable in the percentage of interest you are charging. Of course you're loaning to make money, but besides accepting the risk and not having your money for say a week, you're not actually putting in much work.
So loaning 250k and asking for anywhere between 275k to 300k is pretty reasonable. But all rates are *fair* if agreed upon.
Be careful of accepting multiple smaller payments for larger sums. While taking 3 payments of 125k each week may allow you to ask for more, as the person needing the loan is trading higher price for payment flexibility, multiple payments over many weeks may be harder for staff to track later on.
3. Establish collateral BEFORE the loan and get at least two forms of agreement, in game and forum, just to be safe.
Discord might work for established players but is harder to track.
In the case that a player that doesn't have a forum account (or maybe isn't forum verified) it is a perfect opportunity to invite them to the forum and get them more involved in the community!
Types of collateral include plots, valuable items, bulk items (with proof of existence) that would sell at /warp shop. Basically things that have real value, not a double chest full of whiskey or cheesecakes or something. Typically I would suggest only accepting collateral that is worth *slightly* more than the amount to be repaid. Then, should the loaner need to file a court case, they are compensated fairly for having to go through that trouble. By following this practice, a player taking the loan will be further discouraged from dodging or not fulfilling the agreement.
With the agreement settled beforehand by both people, it's much easier to enforce the loan later.
John didn't pay Tammy after 1 week like they agreed? Okay, with refusal or a lack of response by John then Tammy gets {plot name} and {plot name} because they agreed before that those two plots should roughly cover the 250k that was loaned originally.
But Neilio, I lent someone money, settled on a property as collateral beforehand, and now the person has spent the money and sold the plot. What do I do?!
In a case like this always file a court case in the correct format with as much evidence as possible. Taking 10 seconds to save a screenshot could be the difference between winning or losing your case.
If the player has sold the property they were using as collateral it would be obvious to staff that said player intended to rip off/ scam the loaner and such an action *could* be considered when dishing out punishment.
Next please wait, as often staff are busy. Staff have final say and are almost always fair with their ruling. Trust in the system!
Lots of words, soz about that if you didn't feel like reading today.
Tl;dr what's the loan for, what's a reasonable amount to pay back within a doable amount of time, and figure out beforehand what the loaner gets in case the loan isn't paid.
Also, if you take a loan, just be a decent person and pay it back however you agreed! Or just don't take loans in the first place.
If you are going to give out a loan, consider a few things first:
1. What is this person going to do with the loan? Are they using it in order to make more money later (plot(s) they intend to sell later, machines or tools that will produce sellable items, etc.) and try to estimate how well this might work.
Obviously not everyone will want to give away business secrets but if the loan is for something that will earn income then it may be possible to ask for an earlier repayment deadline or slightly higher interest.
2. Speaking of interest, be reasonable in the percentage of interest you are charging. Of course you're loaning to make money, but besides accepting the risk and not having your money for say a week, you're not actually putting in much work.
So loaning 250k and asking for anywhere between 275k to 300k is pretty reasonable. But all rates are *fair* if agreed upon.
Be careful of accepting multiple smaller payments for larger sums. While taking 3 payments of 125k each week may allow you to ask for more, as the person needing the loan is trading higher price for payment flexibility, multiple payments over many weeks may be harder for staff to track later on.
3. Establish collateral BEFORE the loan and get at least two forms of agreement, in game and forum, just to be safe.
Discord might work for established players but is harder to track.
In the case that a player that doesn't have a forum account (or maybe isn't forum verified) it is a perfect opportunity to invite them to the forum and get them more involved in the community!
Types of collateral include plots, valuable items, bulk items (with proof of existence) that would sell at /warp shop. Basically things that have real value, not a double chest full of whiskey or cheesecakes or something. Typically I would suggest only accepting collateral that is worth *slightly* more than the amount to be repaid. Then, should the loaner need to file a court case, they are compensated fairly for having to go through that trouble. By following this practice, a player taking the loan will be further discouraged from dodging or not fulfilling the agreement.
With the agreement settled beforehand by both people, it's much easier to enforce the loan later.
John didn't pay Tammy after 1 week like they agreed? Okay, with refusal or a lack of response by John then Tammy gets {plot name} and {plot name} because they agreed before that those two plots should roughly cover the 250k that was loaned originally.
But Neilio, I lent someone money, settled on a property as collateral beforehand, and now the person has spent the money and sold the plot. What do I do?!
In a case like this always file a court case in the correct format with as much evidence as possible. Taking 10 seconds to save a screenshot could be the difference between winning or losing your case.
If the player has sold the property they were using as collateral it would be obvious to staff that said player intended to rip off/ scam the loaner and such an action *could* be considered when dishing out punishment.
Next please wait, as often staff are busy. Staff have final say and are almost always fair with their ruling. Trust in the system!
Lots of words, soz about that if you didn't feel like reading today.
Tl;dr what's the loan for, what's a reasonable amount to pay back within a doable amount of time, and figure out beforehand what the loaner gets in case the loan isn't paid.
Also, if you take a loan, just be a decent person and pay it back however you agreed! Or just don't take loans in the first place.
