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Leona's Loaning Service

Discussion in 'Marketplace' started by marshallmafers, Feb 22, 2017.

  1. marshallmafers

    marshallmafers Popular Meeper

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    UNDER CONSTRUCTION
    Leona's Loaning Service is a simple way to borrow money from a lender and pay it back with interest over time.

    Want that shiny new beacon, but don't have enough money to pay for it yet? Take out a small loan from Leona's Loaning Service to pay for that beacon, then pay off your loan over a short period of time.

    How does it work?
    Leona's Loaning Service offers a simple solution to your money problems.

    Lets say you need 20k for a beacon. You'll be given 20k as a loan with 10% interest on that loan. This means that in order to pay back the loan in 7 days you'll need to pay $2,857 per day. But an additional $285.7 meebles per day to cover the %10 interest rate. Or if you decide to only pay the $2,857 per day only $2,572 meebles will go towards paying off the loan as the other $285.7 will be the %10 interest.

    You do not have to wait everyday to make a payment. You're allowed to pay as much of the loan as possible, one day 3k, the next 1k. But this means only $2,700 is going towards paying off the loan as the other $300 is taken out for the 10% interest. As long as the loan is paid off in a 7 day period.

    If a loan payment of 15% of the loans value is not paid per day(7day period), A late fee of 1.5% of the loans value will be issued. Meaning the next 24hour period you'll have to pay not only 30% of the loans value but an additional 1.5% on top of that as a late fee.


    ***There is not Interest on a rank if paid in full on the first day.***

    Example:
    20k Loan must be paid in 7 days. That means $3,142 must be paid per day instead of $2,857 because the $285 is the 10% interest. If you miss a payment then you'll have to pay $6,284 the next day with a late fee of $30. 1.5% of the loans value.

    Ranks
    Ranks are valued at $10 per 100k. Meaning if a player wishes to buy VIP they'll need 100k.
    Ranks over $40 go up to 150k per.

    For every $10 needed to buy a rank a 30k deposit will be required.

    Example: If bob wants Citizen - > Exclusive that's $40 usd. This means he'll need 400k to do it. But if he takes out a loan with Leona's Loaning Service he'll only need to make a down deposit of 120k and pay the other 280k with %10 interest in 7 days.

    Another example. If Geoff wants Citizen -> VIP that is $10 usd. This mean's he'll need a 30k deposit as it's 30k per $10 usd. He still owes 70k to Leona's Lending Services at 10% interest. In total after paying for the rank he's paid 107k instead of 100k for the rank as the 10% interest does not effect the 30k deposit but only the 70k. This stacks for every rank.
    Legal Issues

    In order to be approved for a loan, a player must accept a written contract stating that if they do not pay the loan back in 7 days it's an act of scamming the lender. As you've agreed to the circumstances within the loan contract. Failure to pay off the loan will result in repossession of the item you've taken the loan out for and legal actions taken against you. You'll still be required to pay back the loan after the fact. After this period you'll be given 14 days at an interest rate of %20 to pay back the loan. Failure to pay back the loan in the 14 day period will result in more legal actions.

    Repossession
    Anything bought with the loaned amount is automatically my property until the loan is paid off. If you default on your loan the items you've paid for with the loaned money automatically becomes mine. If you cannot pay off the loan within the 7 days you'll be required to pay back the remaining amount that is your balance and the items you bought with the loaned money.
    Items/Valuables worth as of 2/22/2017

    Items such as God Picks, God Armor are also acceptable for payments towards paying off your loan. Items will be listed as what their face value is.

    Listed Item Enchantments must have max enchantments(For that specific item): EFF V, SILK TOUCH I, UNBREAKING III, FORTUNE III, PROT IV, FIRE PROT IV, FEATHER FALLING IV, AQUA INF IV, POWER V, INF, FLAME II, LOOTING III, KNOCK BACK II, DEPTH STRIDER III,
    God Silk Touch Pick(1): $2,000
    God Fortune 3 Pick(1): $3,000
    God Silk Axe(1): $1,000
    God Fortune 3 Axe(1): $1,200
    God Silk Shovel(1): $1,500
    God Fortune 3 Shovel(1): $1,900
    God Shovel(1): $5,000
    God Bow(1): $4,000
    God Armor Prot IV(Full set)(1): $12,000
    God Armor Blast Prot IV(Full set)(1): $7,000
    God Boots(Feather Falling IV, Prot IV, Unbreaking 3, Depth Strider 3)(1):$2,500
    Elytra(1): $1,300
    Shulker Box(1): $500

    Diamond Ore(1): $200
    Diamond(1): $100
    Gold Ore(1): $25
    Gold Ingot(1):$25
    Emerald Ore(1): $50
    Emerald(1): $30

    Items will be changed in value as the market changes. These are not permanent.

    Outstanding Debt
    @Imperfectly 3/10/2017
    Interest: 10%
    150k Loan (''Business loan'')
    Required Items Worth/Balance: 50k
    First Payment: N/A
    Still owes: 165k

    Paid off Debt/Loans


    Paid off as of: 2/23/2017
    Jacob3425_ 2/22/2017
    Interest: 10%
    Vip: Required Deposit: 30k
    First Payment made on 2/22/2017: Amount: 30k
    Still owes: 107k/107k

    Paid off as of: 2/23/2017 (No interest, paid in full)
    Jacob3452_ 2/23/2017
    Interest: 10%
    Vip->Exclusive: Required Deposit: 90k
    First Payment Made on 2/22/2017: Amount 4k
    Second Payment Made on 2/23/2017: Amount 146k
    Still owes 240k/240k
     
    Last edited: Mar 10, 2017
    SuperDyl and Toastie like this.
  2. Deljikho

    Deljikho Lazy Swami

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    Isn't Bob already an ult
     
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  3. marshallmafers

    marshallmafers Popular Meeper

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    Lmao gotem
     
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  4. Natsu

    Natsu Popular Meeper

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    New Londoners can receive loans from me for 0% interest though :p
     
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  5. builderjunkie012

    builderjunkie012 Popular Meeper

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    Or, in the time it takes someone to read this whole thing, they could just make the money they need with jobs
     
  6. n00bslayer_99

    n00bslayer_99 i like kebab

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    How nice of you try and sound formal, but the fact of the matter is that there is no legal action on a minecraft server, yes players can be banned but staff do not refund loans nor do they force players to pay the rest off after their ban expires.
     
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  7. Muunkee

    Muunkee Legendary art supply hoarder

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    its funny because its not true
     
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  8. marshallmafers

    marshallmafers Popular Meeper

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    It's funny because it is. @Courtney has already confirmed the repossession of the item and the legal actions taken against the player who defaults on a loan or payments.
     
  9. Muunkee

    Muunkee Legendary art supply hoarder

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    Then one wonders why I was told the exact opposite by staff 2 weeks ago (and why 2year+ policies were changed without a word but I"ll skip that much)
     
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  10. marshallmafers

    marshallmafers Popular Meeper

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    Maybe because things changed in 2 weeks? I am safe in the repossession and the legal action against the player either ban or temp ban for scamming as they sign a written contract stating the terms of the contract.

    But I'm not safe in the fact that they need to still re-pay the debt. That's something I'm still working on.
     
  11. Muunkee

    Muunkee Legendary art supply hoarder

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    there it is :]
     
  12. marshallmafers

    marshallmafers Popular Meeper

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    That is why as a safe guard players are required to make a deposit first. Either via meebles or any of the items listed above. This is a small safeguard to protect myself from players defaulting on loans or their debt. It's still very much under construction.
     
  13. Imperfectly

    Imperfectly Popular Meeper

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    Unfortunately I will not be paying back my loan,
    :) Ty for the loan
     
  14. buttfly29

    buttfly29 Popular Meeper

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    step 1: buy an alt and go to a friends house,
    step 2: go on meepcraft.com
    step 3: get a 100k loan
    step 4: get rid of the money by either buying something at warp shop and giving it to your afk main
    step 5: get banned for not paying back the loan
    step 6: get another alt
    step 7: repeat
     
  15. junelawnchaired

    junelawnchaired neat-o!

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    Dude they have prism to track you doing that

    nothing is hidden
     
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  16. Marshy_88

    Marshy_88 Popular Meeper

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    The best thing is, staff doesn't enforce half these things. Staff don't refund loans, and repossession is unheard of.
    One sec let me takeout a few loans on my alts...

    And by the way, I will NOT do anything staff tells me to do if it isn't stated in rules. If staff pulls stuff out of their arse without changing the rules or making widely known posts; viva la revolution.
     
    Last edited: Mar 16, 2017
  17. buttfly29

    buttfly29 Popular Meeper

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    You can hide a lot more than you think
     
  18. Muunkee

    Muunkee Legendary art supply hoarder

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    The only problem with this is is that you have to find a pretty elaborate way to get it to your main account in order to not get caught pretty quickly. Cause staff check for that stuff especially if the scam just happened and all the money and items are missing
    --- Double Post Merged, Mar 16, 2017, Original Post Date: Mar 16, 2017 ---
    The only way I could think of to do that successfully is shop signs and even then high risk af
     
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  19. junelawnchaired

    junelawnchaired neat-o!

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    There were a few people that converted the money into gold too and hid it that way
    --- Double Post Merged, Mar 16, 2017 ---
    Sweetie :)
    --- Double Post Merged, Mar 16, 2017 ---
    No what I'm saying is that it's not that hard to find this stuff out if you're decent at prism, your methods suck vs prism basically
     
  20. buttfly29

    buttfly29 Popular Meeper

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    I mean... theres always a way

    honestly staff would look at this convo like we're planning something
     

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