Garnishing Income for Overdue Loans

[Captain Jack]

You are missing the facts. The table I posted is valid for nation debts, not bank ones. There are only 2 ways to close a loan: Either by loan insurance (remainder goes to nation debts) or Banker manually closes it.

[Most Lee Harmless]

You are missing the facts. The table I posted is valid for nation debts, not bank ones. There are only 2 ways to close a loan: Either by loan insurance (remainder goes to nation debts) or Banker manually closes it.

Re : nation debts : aye, Mexico's levels are quite insane but are a special case, perhaps : but there were already long-term debts before FOX showed up : and anyone one of those long-term debtors could rejoin after 3 days for the simple reason once they leave the nation, the hostility gain from the debt ceases and falls away to zero at 1point per hour, same as hostility gained from hitting the flag does. The debt, however, remains.

Be it 1000gc or 1 billion gc, it dont matter, its all un-enforceable and after 3 days or so to bleed away hostility, doesnt stop the player rejoining and turning off auto pay to add even more debt unless the nation uses voodoo to keep hostility up and them out.

Debt and associated hostility does not prevent them voting, or exercising all the same privileges and benefiting from all the same bonuses as the 'good' citizen.

If there is insanity in the system, thats where it lies.

[Crackedcubes]

Oh...how about using a debt collector for the banks. He/she gets a percentage of collections and bankers do not have to engage in that dirty business of hunting down and hounding the guilty?

[Captain Jack]

@Danik
Its a situation that even with voodoo, it will not carry on for long. If you got better ideas though, please share (at a new topic - for nations).

@Crackedcubes
Nothing stops the banks to use a debt collector already.

[Roberts]

Oh...how about using a debt collector for the banks. He/she gets a percentage of collections and bankers do not have to engage in that dirty business of hunting down and hounding the guilty?

This would be my next Line of work " Bounty Collector Roberts " But eh, something else planned...

[Most Lee Harmless]

@Danik
Its a situation that even with voodoo, it will not carry on for long. If you got better ideas though, please share (at a new topic - for nations)

as debt enforcement affects both banks and nations, solutions tend to apply to both cases : however, I will work on a full proposal, given the lessons of recent events, and suggestions for improvements for nations, in another thread.

[Hawk]

+1 to debt collection as outlined by Capt. Jack. To add to it, I think flying the pirate flag should make you immune, and you must settle your debt to fly a flag again.

[Banger]

+1 approve

[William one eye]

+1 to the idea as CJ presents it.

This is another idea for loan recovery that could work in addition. This is a naval combat method for fund recovery.

Collections Agent
viewtopic.php?f=4&t=4659

Basically this is a bounty system for bankers
That recovers some of their lost investment.

A banker who has outalstanding unpaid debt can place a marker on that player to share X % collection of that debt
With the collection agent.
X is set by the bank.

A player who would like to collect debts for the bank,
Visits the collections page to look for players with a marker on them.

The player can buy the marker from the bank.
Bank sets fee if any.
Markers have a set duration.
a player holding a collection marker gets X % of the recovery when they hunt the player in default.

Markers will be set by the bank and the bank will choose the share they get vs the share the collection agent gets X%.
Bank sets the total amount they seek to recover.
This amount cannot exceed the total debt owed by the offending player.

When the hunter that has accepted a marker attacks the offender they get they X% of the plunder offered to them by the bank. The bank gets the remaing plunder.
If a ship is plundered it is immediately sold to the shipwright at 100% value. Attacker gets X% of the sale amount, bank gets the rest. Attacker gets credit for a ship plunder


Why would a player choose to collect for a bank instead of just raiding for themselves and keeping the entire plunder.

Suggesting a player collecting for a bank gets 50% turn usage and 50% danger inccured for every attack on the offending player. No in nation hostillity inccurment.
You get honor points with the nation the bank belongs to.


If the collection has not recovered the minimal ammount set by the bank within the time frame specified by the bank the marker is revoked and reposted. The initial agent cannot take the marker again for 30 days.

[DezNutz]

Acadamy Banking Tech: Loan Shark is already an approved suggestion.

So unless CJ is suggestion something else within this topic that I'm not seeing, I don't see a reason to approve this suggestion.