"Predatory" loans are not prevalent on ECC. Why invite further legislation, restriction, and litigation upon the whole because of a few. The current system handles these few adequately. Imaginex gave testament to this saying, "If we feel that a loan is unfair and predatory, we will not uphold the deal. Period." The true issue with debt is one foolish user taking out multiple loans and having no ability to repay. This is where I actually see players being banned. This is where I see players quitting. @Nicit6 @UnitedStates2 Just had this thought. If want to go past these caps, I could give one player multiple loans that are below the exemption cap or below the interest cap. I can do as I please then? 100k loan with 250k within a month. Not allowed 5 separate 20k loans with 50k within a month. Allowed
@RyanBlocks2 this is assuming that a builder had 100k. Also : Spoiler: Rules Regarding the Auction Plugin You are not allowed to abuse the Automated Auction System. This includes but is not limited to troll auctions and any other auctions deemed inappropriate by Staff. Examples of such auctions are: Multiple auctions for 1 dirt Auctions with unrealistic start prices/increments But remember guys, this isn't about auction, this is about loans
This is about enforcing deals that are outrageous. Basically saying that if a deal is outrageous enough it shouldn't be allowed. Selling a dirt block for 100k is an example of an outrageous deal.
Troll auctions are a different story. This is about loans, not auctions. And remember, those auctions aren't allowed, and you will be punished for them. There's quite a big difference between enforcing loans and giving players their money back from the AUTOMATED auction system, as well. You're comparing apples to oranges here. Try to provide an argument that's relevant to the suggestion at hand, not just outrageous deals, something very broad.
He isnt saying you got a bad loan because you are a bad person. Hes saying you got a bad loan cause u agreed to the loan. These examples dont match up at all. You actually have no control over being injured in an accident (provided the other driver is at fault). You have 100% control over what you accept.
Its not very broad. You want to stop people from being allowed to get away with taking advantage of others correct. That is the point of the suggestion.
Yes yes, auctions arent allowed. I am indeed aware of the rules. (Pretty sure they are banned to stop spam of auction chat tho not to keep people from being taken advantage of.) BUT what if I sell my block of dirt for 100k. That isnt automated or disallowed.
That's irrelevant to the suggestion, and I do agree, it's illegal. The only way to stop that however, it to set a strict limit on how much ECD one can take in loans (By having all contracts go on the forums, or having a server plugin work as the middle man. The current system is arbitrary and doesn't provide consistent enforcement against predatory loans. We're suggesting to provide rules that make it clear to what a "predatory loan" is, and what's not allowed. That's something called bending the rules, something strictly illegal.
"Bending the rules"? I prefer creative loaning solutions. Perhaps that could be a company name? Creative Loaning Solutions LLC
You won't get bans. But the contracts will simply be voided/nulled/made reasonable. Morality can, in fact, be enforced. And has been enforced already. But this suggestion isn't about morality. It's about unreasonable loans. Don't be stupid.
That's an analogy - Some players may have no idea how the server works, then some other player comes an offers them a 10k loan with 1mil payback - That's a predatory loan, and the same term applies here. Block of dirt =/= Loan. A loan GIVES you money, that you'll have to payback eventually. A dirt block, is well, a dirt block - There's a much better chance of someone accepting a predatory loan than buying a dirt block. Again, apples to oranges. But anyway, troll advertisements and such aren't allowed either.
Not really, both of the people doing these things have to be as dumb as aforementioned block of dirt. People this unintelligent are pretty rare.
You're handing out multiple loans to get around the predatory loaning rule - That's bending the rules, lol.
Maybe someone just came back for another loan? Are you not allowed to give them another cause of this rule?
In that case, why ban spamming, swearing, scamming, disrespect, racism, etc? It's all just morality anyway. Let's just go full anarchy instead?! Saying you can't enforce morality is <Mod Edit> stupid.
Who is to say when one is "bending the rules" and when one just offers multiple loans to one user? Will staff determine this much like they already determine if a loan is "predatory" or not? BBL
No, because it CAN be enforced. And HAS been enforced. Or did you not see ldw's complaint against noah?
