<pokeyourface> so zab gets dbl paid off of debts? wow nice 1 shark zab

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Originally Posted by Zab

Can someone translate this for me, my IQ has dropped 27 points tonight

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I honestly wonder if your IQ was EVER above 27 right meow.

1 point collected for insurance
1 point paid out for insurance
1 point paid back from the original defaulter

leaves zab +1.

I dont fault zab for doing it, its a good plan. but its dbl payment, and is not truly how insurance works

I cant believe I read this whole thread. I like the insurance because it offers protection for lending and encourages p2p loans here. Zab has said a million times that he is not getting double paid, all the points go into one pool used to pay off defaults.

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Originally Posted by YouWereDOA

I honestly wonder if your IQ was EVER above 27 right meow.

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He will prove it is if he bans you.

Quote:

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Originally Posted by pokeyourface

1 point collected for insurance
1 point paid out for insurance
1 point paid back from the original defaulter

leaves zab +1.

I dont fault zab for doing it, its a good plan. but its dbl payment, and is not truly how insurance works

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Insurance Bank 1
Insurance Paid -1
Insurance Paid - Paid Back 1
Insurance Balance 0


I would agree with you, but then we'd both be wrong

i could be wrong lol

maybe the initial thread should of looked like this so as not to confuse the people overreacting to something they dont really understand.

Insurance Bank 337260 (fees 240255 + Insurance Paid Back 97005)
Insurance Paid -311987
Insurance Balance 25273

Makes sense to me. Nothing unfair or questionable. And Id like to add, I said this less than a month after being here, ZAB YOU DESERVE A VACATION!!!

Quote:

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Originally Posted by pokeyourface

1 point collected for insurance
1 point paid out for insurance
1 point paid back from the original defaulter

leaves zab +1.

I dont fault zab for doing it, its a good plan. but its dbl payment, and is not truly how insurance works

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for every1 that cant add. zab was up 2 (off of only 1 point of debt) and paid out 1 leaving him with 1.... DBL PAY!

MichMan summed it up, but again (For you slow folks out there)

Insurance Bank 337260 (This is all points total fees + insurance paid back)
Insurance Paid -311987
Insurance Paid - Paid Back 97005 (THIS LINE IF FOR INFORMATIONAL PURPOSES ONLY, I have stuff like this all over the back end)
Insurance Balance 25273

Quote:

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Insurance Bank 337260 (fees 240255 + Insurance Paid Back 97005)
Insurance Paid -311987
Insurance Balance 25273

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Amazing. Exactly this. Thank you michman for making it as clear as possible.