Accused Username:

@ldw116​

Complaint:

Failure to repay loan of $450,000. 15 days late.​

Evidence:

https://www.ecocitycraft.com/forum/threads/contract-325-000-loan.144134/




Loan is well overdue. Late fees are charged at $10,000 per day. Has been 15 days so far.​

Additional Information:

This user currently has $235,000 invested within the Vault of ECC. This money will not be returned until this loan is paid. Or the $235,000 can be sacrificed to partially pay off the debt. $150,000 to late fees and $85,000 to the $450,000 debt if possible.​

 

Understood. Like I said I'm willing to take his investment (the money I technically owe to him) to negate some of the debt.

 

Well the contract was approved WITH open ended late fees (Which I forgot to put a cap on) and the staff decided 7 days will be enforced.

I am though, confused on what the situation between Ragin and Builds has got to do with this all? As this complaint is between myself and ldw.

 

I will not be paying any portion of the investment to @BuildsByGideon unless the following occurs:
1. The loan is paid off in its entirety including late fees AND
2. After said loan is paid off, there is money left over in the investment account.

Assuming you have money left over after paying off your debt I will be happy to pay out part of your investment to cover this. But the money is locked and essentially belongs to myself until you are debt free. If this isn't resolved in anyway then I will take the investment forever and negate part of your debt.

 

Rule #5 on the sheet which you agree to upon investing:

5. Personal investment balances may be used to repay loans if needed


Also, this money is currently loaned out to @FuryFudge all $235,000 of it. @ldw116 agreed to these terms:
- Agrees to allow a 7 day grace period upon requesting the funds to be withdrawn (after the unlock date). This allows @Obblebobble to gather the full deposit amount and interest. Assuming no loans are currently active with the money.

I agreed to these terms:
- Agree to have the full deposit/investment amount available within 7 days after a withdraw is requested AND after the 2 month locked period IF no loans are currently active and using this money.


As you can see in both instances it says IF "no loans are currently active and using this money" This money is loaned to FuryFudge so I cannot retrieve the investment. Nowhere on the contract is a third party mentioned regarding paying off your debts with this investment.



In the instance that the loan is repaid (as it is not marked scammed yet, because FuryFudge is making an effort to repay) then yes I will owe you the $235,000 in 7 days or less. However, you currently owe me $520,000 total which is late. My request was to remove your investment and negate your debt by $235,000 but I'd like this approved first. If Ldw116 wishes to withdraw the money still, before the loan is paid then I see no resolution to this complaint than a ban of sorts as this loan is well overdue.

If he agrees to let me sacrifice the investment then I would be willing to give a minor extension. $500,000 can be made in a week with enough work.

 

Tagging staff as forgot to do in the above post:

@DrowningInPizza
@Dccciz