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Post by GSV3MIaC on Feb 1, 2019 11:27:17 GMT
/mod hat off
I think that all P2P platforms should invest in some lie detector technology, for use on the 'the cheque is in the post' brigade. Hard to do by email, but person-to-person, or even over the phone, the technology exists, I believe.
Not sure what exactly the platform is going to do when it discovers the borrower (or whoever) is lying to them, but perhaps it would at least stop them passing the lies along relabelled as 'gospel truth' ?
Who might benefit, platform-wise .. well all the ones I have ever used, for a start ..
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ceejay
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Post by ceejay on Feb 1, 2019 14:27:37 GMT
I think one problem would be that there is no such thing as a "lie detector" - the devices marketed as such are really stress detectors.
If you were a borrower attempting to negotiate a business-saving loan (for example) I would think you'd be pretty stressed - so distinguishing between those lying and those not would be tough, i.e. unreliable.
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Post by Deleted on Feb 1, 2019 15:06:11 GMT
Lie detectors are defeatable, there is no Harry Potter world "I must not tell lies".
What I do think we should do is
1) Analyse if a Portal has a good stream of loans finishing on time (proving that the control procedures work) 2) Analyse if a Portal regularly "gets-back" the capital that is loaned after default and recovery (proving the valuers give good results)
I notice that none of the portals I am with offer these statistics
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hendragon
Member of DD Central
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Post by hendragon on Feb 1, 2019 16:33:34 GMT
GSV3MIaC I am surprised you did not suggest the boiling, grilling, or microwaving the offspring of any recalcitrant borrowers.
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Post by GSV3MIaC on Feb 1, 2019 17:00:02 GMT
That's a "less modest proposal".
Actually I don't mind recalcitrant, We know what to do with those, it's the ones who are dishonest about it that I take exception to.
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zlb
Member of DD Central
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Post by zlb on Feb 2, 2019 11:06:47 GMT
That's a "less modest proposal".
Actually I don't mind recalcitrant, We know what to do with those, it's the ones who are dishonest about it that I take exception to. I'm pleased that I got something right in my early analysis of DD, as in 'what's the point of DD if it's the borrower which is the repeat problem?'.
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