/Loan ?

Hey everyone,

Not sure if this has even been brought into question, but I think this would be interesting.

Basically, just like /pay, there can be a /loan plugin that would act almost like taxes or /pwarp when collecting money.

In an ideal situation a new player is looking to create a town, of course he may not have the 200-300k to start it. Instead of getting frustrated, giving up on his town dream, or even leaving meep he could loan the money instead. The loaner would be any player who has and is willing to loan out the amount the player is looking for. (/loan batdanman16 200k). Now with this plugin, the loans would be trackable and view able by players involved (/loan list). Now to expand on the payment, I believe this would ultimately be up to the loaner ( like a real world situation). The loaner would talk with the loanee and discuss the interest rate on this loan, (also have the option for 0% interest). They would then come to an agreement for 200k on 2.5% interest. (/loan batdanman16 200k 2.5). Now they need to decide the maturity of this loan, in meep, money moves around a lot faster than the real world. So lets say that the loaner was generous and decided that in two months the loan would be due in full. (/loan batdanman16 200k 2.5 60) the loaner would now enter this command. Now what if the loanee did not agree to these terms and not want to accept this loan!? Well I would imagine that this plugin would have a /accept command just like /tpa works. Making sure that this loan is in agreement, and by typing /accept you are signing and agreeing to this loan. Now as far as the loanee paying the loan, I think it would be really cool if he could set up his own payment plan. (/loan payment 200) this command would take out about 200 meebles a day and pay towards his current loans. He could also just pay in full also (if he goes to /pwarp dice and robs summrs) (/loan pay 200k). I also think that if the loanee is a more newer player and is a greater financial risk to loan to I believe the loaner could set his payments on a day to day payment which then the loanee could /accept or /deny.

As far as having security when loaning out to other players, it may be more risky than a real life situation. The loaners would have to take into serious consideration who they are loaning too and how much. I also think it would be cool if players had "loaner insurance" that they could pay to the server to be covered up to a certain amount in all their loans.

I can imagine some situations where this would cause quite a stir up for some people, but I believe that if it was negotiated through a plugin that kept records and were viewable easily that this could really bring a new atmosphere to MeepCraft. Of course I am unsure if there is already a plugin out there that would do this, I also understand that the staff is busy trying to implement new things as it is (vshop!!! or derivative version) so coding this new plugin may take some time that is not readily available. Like I said before I am not sure if this was already suggested. It just popped into my mind when I saw some other players trying to loan out money, and I was thinking about the risk they really have to take since there is not a lot of enforcement. Which brings me to an off topic (sort of) question. What is the current standing on enforcement for player loans? If there is a screen shot is it enforceable? I have barely heard anything about them so I figured they are not a regular thing done. Please let me know what you think in the comments!

 

+1.

 

I feel like this could be implemented, but instead of having a player loan money (we already have enough problems with people paying another player and then that person not getting their money back) but it could be from the town bank. You can take out a limit of 500k (per week maybe) and then you would have to pay it back in lets say.. A 2 month time period. You can pay by chunks of money (like 50k every couple of days). But we already have /pay so this almost pointless.

And to answer your question, I think if you have screenshots of your payments, and the player you loaned to didnt give you back your money in the time that you wanted it you can report the player for scamming.

 

I get what your saying, but considering that there are a ton of players in a town, I feel like that money would be gone quickly and the town would struggle to keep money in its bank because of the amount of players wanting loans. Also how would mayors get loans too ( assuming they need money and are not making enough tax revenue). I think a player to player basis would be better, I am not sure about what the ramifications would be if a player did not make the full payment by the end of the loan period. I would think that their account would be drained to the other player and they would have a server ramification. I cannot imagine them enforcing a repo on items either, kind of a cool idea though!

 

oh im stupid. I typed town instead of 'server bank'. Like we could implement this when the meepcraft bank is back up xD sorry about that LOL

 

That makes more sense haha do we know when that happens?

 

Not to my knowledge. I don't think it will be up for a while.

 

no. This spawn in a ton of new money. Also it gets stupidly complicated when you time comes for them to repay the loan and they cant do it. There are also a ton of exploitable features to this. All those new players are gunna wanna make towns. Soon, you have 150 cits taking out 500k loans that they can't realistically pay back.

 

+/- if the loans were created between players, younger players aren't going to understand this concept.

-1 if the money is pulled from /Eco. We don't need to be generating money from thin air.

 

Possibly players could put up their OWN money? And they'd get some money back?

Overall +/- there is both a risk and a reward.

 

This is why it would be in between players, also I dont think that any experienced player would just loan enough money to make a town to a new player. This is where the thought process must come in for the loaner, see the financial risk and not take it. Would you loan money to a newbie?

--- Double Post Merged, Apr 4, 2015, Original Post Date: Apr 4, 2015 ---

i agree it should not be pulled from server, it would just be an influx of unearned money. I believe this idea could have real potential for the server, after all we are the "biggest economy server" so why not have one of the most essential parts of an economy? Loaning!

 

+1

 

so why does this need to be a command as opposed to the system of loaning between players that was previously in place?

 

Well, I think the idea is... awesome!

Although I do have my concerns.

If the loan does not get paid back within the given time frame, and the loaner has bought this hypothetical server loan insurance... It will effect the eco over time. I mean, we are talking about every player having the option to loan money... The system will be abused over time and the server eco will be the one paying. Meepcraft will essentially become the USA (In debt) causing money to just be... spawned in.

So lets say there is no server insurance in place.. and the risk is all on the player. You will have relatively new players constantly submitting modreqs, forums threads and complaining. Also please take into account that they will loose out on their money. In a nut shell, we know how many newer folks on meepcraft don't read and follow the rules.

So, overall good idea IMO. Just areas of concern.

 

An effective way of tracking them first of all. Second, the ability of the loaner to feel more secure that he can make a payment plan (like pwarps 3k a day) where money is auto withdrew from the loanee, plus the interest rates that they can apply. Overall a structured and more enforceable way of loaning money.

--- Double Post Merged, Apr 4, 2015, Original Post Date: Apr 4, 2015 ---

Over time I can see the loaners insurance possibly wrecking the server, that was just an idea. (even if the loaner insurance was just a separate bank that was only filled by payments and subtracted by claims). I see what you guys are saying about the new players, but like i said before, would you loan money to a new player who just joined expecting to get paid back? Probably not. I believe player discretion will really come into play when it comes to new players.

 

I see that, but if these new players, lend to new players (ie. Newguy 1 loans 10k to newguy 2). Newguy 2 fails to pay the loan back, then newguy1 goes on a rampage.

 

MeepCraft is not in the banking business. Given that loans are usually given out with an interest, there is no reason why the server would help minimize the inherent risk of handing money out to people. I would suggest that before you give someone money, you take note at that risk, along with the quality of that person's character.

Personally, the less the server has to do with loans, the less of a mess we have to clean up. Loaning is a horrible thing that has came to MeepCraft, forcing us to occasionally ban players who've done no wrong other than not having money, it's sad.

 

+1 as long as there is 1 month to pay it back and it's an auto-ban if they don't have enough money to pay back the loan.
This would really help limit the amount of scams, and it would be actually be a somewhat legit way to make money.

 

I see some benefits to this suggestion; however, I also see it causing much more confusion then necessary and not really adding a whole lot. There are people who will donate money to people. I don't think that more people will loan a player with this plugin. I think it will just be there and not used.

 

tl;dr but I do think that this is a good idea, because at least 2 times every hour people are asking for loans; however as @Denien said, Meepcraft is not in the banking business. +/-