Updated over 4 years ago on . Most recent reply
Very Specific Question about Personal Loan
I am trying to receive a personal loan from a private lender who is just an individual. I'm running into some issues as this individual is trying to give me the loan in crypto currency. I am getting frustrated because I just want a "normal" loan where I can put the money directly into my bank and use it to make a large purchase. The problem I'm having is that I can't find any information anywhere about how to receive the actual loan, I.E. check, bank transfer, money order, etc. What form of payment is a loan usually in? The loan is 35k. We've typed up a loan agreement, but the lender has not listed what form of payment he is expecting for my repayments. I asked him why he didn't fill that part out and he just informed me its because its going to be a crypto transfer through some unknown crypto site. I am starting to wonder if this is a scam? I have not paid him anything and definitely have not given him my bank info.
One last question, is the loan agreement null and void if I never receive the money? If this is a scam and I will not be receiving the money how do I know he isn't going to try to come after me in one way or another saying he paid me?