Loan Balance with Closed Banks

[QwertyStan]

It's not that it's a huge issue it is just an annoying issue, if someone wanted to take out another loan after they paid back the loan, now they can't take another loan out without risking being unable to pay back both loans if/when the closed bank reopens

[PhoenixKnight]

This is not a big thing, when a bank closes, loans pauses until it reopens. And option one is extremely retarded.

No it isn't retarded, and this coming from the guy who has made some of the worst suggestions. Back on topic. If I run a business and have payments due to me and I close my business, those payments are either lost or sold off. I can't reopen at a later time and expect repayment.

Think of it as closed for a holiday and not permanently closed. I agree with Guluuere on this one.

[DezNutz]

I agree as it would be an excellent option to be able to buy and sell loans - I'd like to be able to buy and sell banks, offer insurance similar to what nations do with skirmish, etc., but that's real world banking. This is Pirate's Glory. Banking here is more like loan sharking, as there is no insured deposits, no collateral, just a person's word that they will do what they say. Banker says your gold coin will be there when you need it. Borrower says he will repay what he's borrowed with interest.

I think it more prudent to expand aspects of seafaring, such as ship specialization, port features, national features that inspire more trading and naval strategies. Banking doesn't really do that, as most borrow much more than can be confiscated or impounded. It hasn't inspired any further naval based strategies in that regard, as to go after a bloke with only 250k worth of ships for a 10M loan isn't viable. Besides, there are better investments than loans for bankers or those with enough swag to build a bank.

Bottom line, as for defaulted loans, that is between the banker and the borrower and how they wish to deal with it be between them, whether the bank is open, or has been re-opened.

SHM, the issue isn't with defaulted loans, which as you stated are between the banker and borrower. The issue is loans that are "paused" due to a banker closing their bank. If you close your bank, the loans that you have provided should either be sold to another banker or written off as a loss and the account closed. If a banker wants the loan paid, they should remain open.

As QwertyStan stated, it is an annoyance and can potentially cause issues if the banker decides to reopen the bank down the road.

[DezNutz]

This is not a big thing, when a bank closes, loans pauses until it reopens. And option one is extremely retarded.

No it isn't retarded, and this coming from the guy who has made some of the worst suggestions. Back on topic. If I run a business and have payments due to me and I close my business, those payments are either lost or sold off. I can't reopen at a later time and expect repayment.

Think of it as closed for a holiday and not permanently closed. I agree with Guluuere on this one.

A bank still collects payments when it's closed for a holiday, and if you have an account there you can still access the funds within. A closed bank in PG does not.

[Sebena]

but also banks can consficate things for not payed loans and here we can't or loaner doesn't have enough things to get loan repayed fully

[DezNutz]

but also banks can consficate things for not payed loans and here we can't or loaner doesn't have enough things to get loan repayed fully

Yes that is true as well, but that doesn't mean that there won't be a means to do so later on. The game has existing mechanics that imply a possible way of collecting debt. They just haven't been developed. A prime example is to take a look at a nations treasury, you can see debts and a column for interest but nations can't currently collect debts or issue loans.

[Sebena]

well I would say that this goes under the same thing something that we should talk about and possibly implement later when we get other means because most bankers such as myself avoide issuing any loans because we risk too much

[Haron]

This is one of several negative consequences of the rule that says pirates can't run banks. In my opinion, that rule should be removed. It makes becoming pirate a high cost for certain bankers. That, again, makes "forcing" people to run the pirate flag for some time, very undesirable. Which, on turn, is a hindrance for other rule suggestions. I say let pirates operate banks, too.

[TheLoveTiger]

but also banks can consficate things for not payed loans and here we can't or loaner doesn't have enough things to get loan repayed fully

Maybe the banks need to be able to check their credit score/Fico score before being able to issue loans =p

[DezNutz]

but also banks can consficate things for not payed loans and here we can't or loaner doesn't have enough things to get loan repayed fully

Maybe the banks need to be able to check their credit score/Fico score before being able to issue loans =p

The game could implement that.