30b loan @ 3% monthly

Hi everyone,

I am posting this thread for transparency reason.

I will be taking loan from Fazzy Star with the following terms:

  • 30b ISK
  • 100% collateralized @ Jita 4-4
  • 3% interest paid per month (starting from 17th of February 2020)
  • 2 months terms (that would be my goal, if it takes longer the interest will be still paid accordingly)

I am preparing the contract right now as agreed, and I will update this thread once the contract is made or accepted.

Any other updates regarding the loan will be posted here.

Best,
Celengan Babi

Contract is up @ Jita 4-4.

Still waiting for @Fazzy_Star to accept the contract.

I confirm that the contract has been accepted. Thanks!

Monthly interest will be paid every 17th starting from February until the planned end period of the loan agreement (17th of March)

I’ll keep this thread updated.

So, I was logged into the wrong character when I posted above :stuck_out_tongue:
Outside of that, everything still stands, I’m holding the collat as per the terms above.

I just paid the 3% monthly interest :smiley:

Any other updates will be posted here

Very interesting but I don’t understand why or how is sharing this info on the forums being “transparent” ?

The only people it concerns is either of you whether or not the terms of the agreement is honored.

If someone gets scammed it is only going to be slightly amusing to some of us here.

Please explain what you are doing. I am very interested in finding out.

Hey thanks for replying.

I am also not sure, this is my first attempt to ask for loan and from what I know people do this kind of stuff.

If you browse the market discussion forum, you’ll see similar threads. I guess this kind of threads help to build the credentials needed for anyone to ask for future loan later on (?), as in, credit history.

But don’t ask me in detail, I’m just doing what everyone else is doing :smiley:

Still not sure I understand. I always assumed that scamming was allowed even on the forums so seeing stuff like that is no different than seeing you exchange messages in jita local to do the same thing for everyone to see. Players could fake these kinds of exchanges to make it seem like a legit agreement between two players. After all the whole point of the scam is to show people something they believe to be true even though the intention is completely false.

Although, I haven’t read the every bit of the TOS/EULA in awhile or forum rules thoroughly in detail so maybe I am missing something. Perhaps the trust of taking someone at their word I guess.

However, it doesn’t matter unless you gave them a high value collateral it isn’t the person with the ISK that really could be victimized as whoever is left with the collateral has to go through the effort of cashing it out and that takes time and choosing between getting more or less of it’s value given the time and effort required.

Good luck to both of you.

I’ll put my perspective this way: the loan is collateralized and I’ve informed anyone thru this forum thread

That being said, if in any case the contract was not completed (not honored by either parties, regardless). At least people will know if any scam was done. That means that whoever didn’t honor the agreement for any reason, will have harder time to deal with this kind of business ever again as people can just easily find out his/her history. This kind of thread helps to facilitate this purpose.

Of course this doesn’t prevent any scam from being done. I could bail out with 30b ISK and left my collateral plus the 3% interest that I’ve paid just today to the other party. But not everyone is all about scamming and many people care about their reputation.

@Celengan_Babi basically covered all the reasons why we have this post up.
It serves as a public record for both of us should either of us want to request/provide loans in the future.

That being said, interest has been received.

I know Celengan, this loan by Fazzy will be legit.

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Due to recent changes in market condition, I decided to payback the loan sooner than I had planned.

The original 30b ISK loan has been paid back to @Fazzy_Star, as well as the interest as written in the 1st post of this thread.
I also have received the collateral back in full amount @ Jita 4-4.

Thank you @Fazzy_Star for your trust, this is my first loan request and everything went smoothly :smiley: :+1:

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Thank you for your custom. Happy to work with you in the future too.

Fazzy

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This makes it appear that you took a loan from yourself.

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How to blow up your scam in 10 minutes

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