Loan company improvements / fixes

[isBrainDed]

Hello, 

as someone who has owned a loan company, currently a co-owner of one and has given out several loans in the past, I would like to talk about the dire situation of loan companies at the moment.

There are this issues with the loans currently.
1. Anyone can give out loans RPly without paying any taxes on the profit and if the person receiving loan doesn't pay back, the loan giver can request a refund.
2. The refunds for the loans are handled OOCly and not ICly which takes a long time, instead of loan companies seizing assets.
3. Because the refunds are being handled OOCly, we are being hit with 15k scam limit, which means that no matter what, if the person doesn't pay the loan, 15k are being taken away from you, because refunds only refund loaned money and not loaned money + profit.
4. When the loan is paid off, a certain % ( not known to me at the moment ) of the loan goes into your salary where you are taxed at 35% for it, because who doesn't go over 1 mil in assets with loan company, the rest goes straight into your bank.

If we moved asset collection to be handled ICly or a better OOC system, where only people with loan companies can request , problem 1, 2, 3 would be solved by that.
As for the problem 4, I don't know the exact %, but I believe that only profit should be taxed at maximum, so if I give out 100k at 15%, I earn 15k profit and those 15k should be taxed or less and nothing more. ( This might already happen, we don't have exact numbers )

 

And I would like to point out that, I am not making this post just because I want to make profit, if I wanted I could just give money in hand and RP giving out the loans, but because of me being a co-owner of a business, I want to actually use that business and not just have it as a fancy office as I joke around with it.

 

[Marca]

Makes sense, yes. +1

[LeftSharkie]

As a loan company manager who had to deal with some of these issues in the past, its a +1

[Magnolia]

Loan companies have been inherently flawed since their first introduction. Myself, Counterfeit and Spark spent a long time looking at buying a loan company, and we agreed it would only work if certain features were implemented. Here's a list I salvaged. 

 

 

We talked extensively with Xylum, and it was agreed the features would be implemented in the near future (This was summer 2017). So on that promise, we went in 33% each, all with steady incomes from legal factions to support the loans. Skip forward two months, and nothing had happened with the features. We'd loaned out just under 2,000,000 total and were left with a final profit of -29,326 (Yes, I went back and found the Accounts just for this).

We tried pretty much everything we could think of, ICly, to make it run around without script support.

RP encounters (criminally reporting, suing, calling them, breaking their legs, nuking their house), however, don't make a difference when the guy who owes you 100k decides to quit the server. If you try to run a system where the person taking the loan has to give you an asset? you'll never give out another loan.

And then what about when you file a refund request for the 100k that the leaver took with him?

I tried making contact regarding the 100k, nothing happened. I guess I'm down a third of 29k plus 100k. Huh.

 

 

I'm not blaming the lack of admin/dev attention, in their respective instances, on any admin or dev. I'm sure they have their hands full with things that are important for the server. It just makes it clear, however - there's not a single doubt that a loan company could or should rely on refund requests or pure RP. They need script support.

[MrSplashy]

+1

[Denni]

+1

[ChuckM]

15 hours ago, BrainDed said:

4. When the loan is paid off, a certain % ( not known to me at the moment ) of the loan goes into your salary where you are taxed at 35% for it, because who doesn't go over 1 mil in assets with loan company, the rest goes straight into your bank.

That percentage is whatever the interest rate was. Only the profit is taxed (at least it should be). A company's tax rate shouldn't be based on the owners personal assets. If loan company's had their own separate bank account (like car dealerships) we could have a seperate tax bracket based on how much is in that account. Loan companies by the nature of their business are going to have lots of money to invest with so the brackets would need to be expanded. 

Right now if you are giving out loans hand to hand your refund will be smaller compared to getting scammed via the loan company script. (Over 50% of your loan amount vs a 15k scam limit deduction).

1. The ability for assets to be directly purchased by the loan company where they will be released either by paying off the loan or seized if never paid back. This wouldn't be automatic but through a command. 

2. There is a potential for repossession RP if we had a few more tools. If I could give someone a permanent key to a car and the ability to retrieve from Mors, the loan company could essentially be the rightful owner of the vehicle until the loan is paid. If it goes unpaid then a repo team can be sent out to find the vehicle and change the lock, rendering the client's key useless. 

3. The ability to delete a loan would be beneficial as well. I have several loans unpaid in the $20-40k range. I can't submit a refund request for some of these and asking a dev to manually delete is time consuming. 

4. The /buzz command, to my knowledge, is only heard by the two parties talking. I can use /buzz and no one can RPly see I'm talking to someone. There should at least be a message that someone is using a pager/buzzer much like sending a text on a phone. 

5. This one isn't that important but the ability to refinance a loan would be cool. I use cash penalties if someone is late but if the loan could be refinanced to a higher rate for the unpaid balance this would help automate things and keep it in script. 

6. Ability to change the name of the loan company and lock the front door. I dont think the owners name should be on the name plate either but thats not a big deal. 

7. A chair for the office desk. There has never been a chair for the owner to sit in at the computer. I am unsure if placing furniture in a loan company is possible since this new update.

 

[isBrainDed]

3 hours ago, ChuckM said:

Right now if you are giving out loans hand to hand your refund will be smaller compared to getting scammed via the loan company script. (Over 50% of your loan amount vs a 15k scam limit deduction).

I have asked Osvaldon about this, since he does most of the refunds, he said that they are getting refunded for the whole value of loan - the scam limit

[ChuckM]

1 hour ago, BrainDed said:

I have asked Osvaldon about this, since he does most of the refunds, he said that they are getting refunded for the whole value of loan - the scam limit

I've seen refunds for hand to hand loans be drastically reduced because they didn't use the script. If hand to hand loans are refunded the same way as scripted loans from a company, then loan companies are almost obsolete aside from a nice office to RP inside (which you could do at anyone's office because the doors don't lock). 

[Xoza]

+1 for improvements.