Garnishing Income for Overdue Loans

[John jacob astor]

+1 to that idea. its the best ive heard so far

[Stan Rogers]

If you take all of a persons income, he is going to quit. If you take all his ships, he is going to quit.
If you take a portion of his income, he may quit or he may continue and put up with the garnish. Perhaps even pay the loan back faster.
I think a portion of earnings around 40-60% be returned to the lender so
1. the debtor has some hope of recovery
2. The lender stands a better chance of recovering the loan in full.

JIMO on the issue. It would be interesting how the income would be calculated when I viewed my account in the red by hundreds of millions because of unreported income through the use of party cards.

[Mr. Rothschild]

I agree with Stan on players quitting if we were to seize their assets. My goal is to achieve some payback on the loans, not make players quit. I do however think even 40% - 60% is too much. I would prefer 15%-25% garnishment. Even if the amount paid back is small, at least it is being paid.

If a players sole trade income comes from party cards that could cause a problem as it does not register on the general trade report. That is a valid issue that would need to be thought through.

[Brazzler]

What if a set amount or percentage is removed from their bank at regular intervals? That way they can pay it off or can't use the banking system.

[Most Lee Harmless]

If you take all of a persons income, he is going to quit. If you take all his ships, he is going to quit.
If you take a portion of his income, he may quit or he may continue and put up with the garnish. Perhaps even pay the loan back faster.
I think a portion of earnings around 40-60% be returned to the lender so
1. the debtor has some hope of recovery
2. The lender stands a better chance of recovering the loan in full.

JIMO on the issue. It would be interesting how the income would be calculated when I viewed my account in the red by hundreds of millions because of unreported income through the use of party cards.

I think there should be some loopholes for the clever or dedicated debtor to use : each carries their own risk though : a purely party-based income needs multiple fleets and large w/houses, vulnerable to voodoo and hits : a pirate based plunder-income can often mean losses rather than gains on a bad day, even fleet loss on a really bad day. The lender can contribute to both those pains to encourage the debtor to consider a honest life again.

[PhoenixKnight]

I agree with Stan on players quitting if we were to seize their assets. My goal is to achieve some payback on the loans, not make players quit. I do however think even 40% - 60% is too much. I would prefer 15%-25% garnishment. Even if the amount paid back is small, at least it is being paid.

If a players sole trade income comes from party cards that could cause a problem as it does not register on the general trade report. That is a valid issue that would need to be thought through.

Would that be enough though? Thinking about accumulative interest plus the principal amount in relation to how much a person may make at the time, you can end up with almost very little for as long as that person plays.

May be instead of income, it should be a percent of the net worth of the player. If they do not have gold, then their ships may lose levels, crew, cannons,...etc and that converted to gold to convert the asset into liquid cash.

[John jacob astor]

It's really pointless if we remove the risk from lending money to someone, as loans have a certain amount of risk in real life.

I think garnishing trade income or seizing assets should be the only options. In real life, if someone were to steal of find money (plunder or treasure hunt in PG), the banks wouldn't be able to garnish that.

maybe even just freezing all of a person's bank accounts in all the banks if they are active and forcing them to spend all of their turns burying all of what they make or be forced to hold it all in the treasury in which it can be easily lost in plunder.

Sure, if you want to make it a game where bankers just profit more and more, with less and less risk, then garnish and take everything. But if you want it to be realistic, think about what could reasonably be garnished by a bank.

[Mr. Rothschild]

Which is why I propose trade income not assets

[Crackedcubes]

How about Debtors Jail? Player is suspended in Jail for X period of time with no turns accumulating, trade fleets halt and no access to any Avonmore feature. Leaves them open to full scale plundering or repossession through plundering by the Banker. I don't know, just a thought.

[Sebena]

How about Debtors Jail? Player is suspended in Jail for X period of time with no turns accumulating, trade fleets halt and no access to any Avonmore feature. Leaves them open to full scale plundering or repossession through plundering by the Banker. I don't know, just a thought.

That's too harsh and it would lead them to quitting game and that's something everyone wants to avoide.

Garnishing income would be best solution so that piracy or treasure hunting is their only option beside voodoo in getting gold.