Loan insurance- 1% taken from each trade to low?

I've noticed that if you loan someone and they default to you it takes a long time to be fully paid back by loan insurance. This is why I am asking if maybe we should raise the deduction of any loan in the shark or any marketplace trade to 2% instead of 1%.
I know people who just make marketplace trades will not like this but people who loan will cut their loan insurance payback time in HALF!!!

seems like a great idea to me .anything to get our points back faster is worth it

i sayy no on thiss,, and if u have too many loans u need to collect insurance on, then u loaning to the worng poeple too. at least thats what zab told me a w hile bac k too. he said be selective on the amount and the people u try to loan,, and u wont need so much insurance tho,, to rely on that.:))

well the insurance is there to make sure you DO get paid back in full but not bankrupt the insurance bank at the same time.

What I have been seeing latley is people making bad loans. LARGE loans to newer members then instantly asking for insurance.

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Originally Posted by Zab

well the insurance is there to make sure you DO get paid back in full but not bankrupt the insurance bank at the same time.

What I have been seeing latley is people making bad loans. LARGE loans to newer members then instantly asking for insurance.

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I have noticed that new accounts are popping up and old members are loaning because they know the player, and when the new accounter defaults hit the switch.

thats what i just said too zab. casue u wa rned me of this before tooo thoo:)

Yes, I wont insure bad loans. Thats right there in the insurance faq

So should we just use debt collector button or apply for insurance?

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Originally Posted by boog29

So should we just use debt collector button or apply for insurance?

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prolly depends on who you loaned too, but if you loan to a player who has good rating then wait. If he default and you know they have good ratings wait it out and they have to pay the fee :)

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Originally Posted by Zab

well the insurance is there to make sure you DO get paid back in full but not bankrupt the insurance bank at the same time.

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I realize that , that's why I suggested you change it to 2% so you can pay out a little bigger amounts at a time to make the payback process faster. I have not made any bad loans to new members.

Once the amount gets low enough, I have the option to pay it back in full.

The bottom line though is theres no risk to you (if its a good trade)

You WILL get all your points back

zab i not being funey or nothing i understand it but i do feel that when you stop client when i debt then i thing thats causeing a problem

I thought new members couldn't ask for loans >1000