Unusual way of improving collateral on loans.

dermot
Member of DD Central

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Unusual way of improving collateral on loans. Jun 20, 2016 13:37:04 GMT

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Post by dermot on Jun 20, 2016 13:37:04 GMT

My friend Bruce is reporting that Chinese P2P lenders are requiring naked photographs from borrowers as improved collateral on loans.

Can the UK P2P market be far behind, in these troubled times?

Joking aside, this is pretty despicable as once given, the 'collateral' can be held forever to enable bullying and extortion.

www.schneier.com/blog/archives/2016/06/nude_photos_as_.html

D

adrianc Member of DD Central Posts: 10,037 Likes: 5,155	Unusual way of improving collateral on loans. Jun 20, 2016 15:37:25 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by adrianc on Jun 20, 2016 15:37:25 GMT "...interest rates that can be as high as 30% a week" That's not P2P. That's loan sharking.

ablrateandy Representative of Ablrate Posts: 935 Likes: 561	Unusual way of improving collateral on loans. Jun 22, 2016 13:21:38 GMT via mobile adrianc, stevio, and 1 more like this Quote Select Post Deselect Post Link to Post Back to Top Post by ablrateandy on Jun 22, 2016 13:21:38 GMT Most of my clients are 60 year old men. It may be a bit niche when it comes to realising security at auction.

james

Posts: 2,205
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Unusual way of improving collateral on loans. Jun 22, 2016 19:03:28 GMT ablrateandy likes this

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Post by james on Jun 22, 2016 19:03:28 GMT

Jun 22, 2016 13:21:38 GMT ablrateandy said:

Most of my clients are 60 year old men. It may be a bit niche when it comes to realising security at auction.

Well, you could see what the tabloids will pay in an auction if any of them are well known for motor racing interests and certain bedroom activities, or are piano players married to someone with a side interest in threesomes...

Unusual way of improving collateral on loans.

Post by dermot on Jun 20, 2016 13:37:04 GMT

Post by adrianc on Jun 20, 2016 15:37:25 GMT

Post by ablrateandy on Jun 22, 2016 13:21:38 GMT

Post by james on Jun 22, 2016 19:03:28 GMT