Is their a market for buying/selling Neteller debt?

**vanzack** · 02-19-07, 07:04 PM

Originally posted by SBR_John

There should be. Not sure how it would work.

I'm owed a bundle mostly from a contest that I paid

to enter.

What would be a bid and ask price be on neteller debt? Personally I'd be a seller at .75 on the dollar.

Would you be a seller at that price because of:

A. Risk of never being paid
B. Getting money right now (I dont want to worry about this mess)
C. Both

In other words, if you were positive that you would be paid in full in 6 months would you still sell it for .75?

**SBR_John** · 02-19-07, 07:10 PM

In other words, if you were positive that you would be paid in full in 6 months would you still sell it for .75?

"positive" being the key word. No I wouldnt but I'm far from positive.

**vanzack** · 02-19-07, 07:36 PM

Originally posted by SBR_John

"positive" being the key word. No I wouldnt but I'm far from positive.

I understand.

Im just trying to guage how much of that is risk and how much is aggravation.

I dont have a dollar in neteller (thank god, it was just blind luck) but in my outside, unsolicited opinion I think everyone will get paid.

You might have ulcers, but I think your .75 on the dollar is low if we are looking at risk alone - not aggravation.

GL with it either way...

**VanWilson** · 02-19-07, 08:16 PM

I can help you get 80% now and 10% in 6 months for a total of 90%.

For you non believers, if you call Neteller they will tell you that us citizens can transfer funds to non gaming merchants.
That's what I have been saying for a week now!

**louis** · 02-19-07, 08:34 PM

Have to draw up a written contract with a lawyer

SBR John, there is no central marketplace now that I know of. In order to sell neteller debt, one would have to draw up a contract with the buyer of the debt. The contract would state that in the event neteller "pays up" within a certain period of time, the seller would pay the buyer the amount in the contract. Of course the contract would have to define "pay up". And the "certain period of time" could be indefinitely, but I would have a specific time limit like 10 years.

Someone could actually draw up this contract, and sell their debt on Ebay.

If there are lawyers here, it would be interesting to hear what they have to say about whether a contract like this could work.

**SBR_John** · 02-19-07, 08:40 PM

Good post louis.

Van, I dont think thats an option. I ordered a check the day the owners were pinched. They took the money out of my account and its been pending ever since. So its not in my account and it has not been sent...its "pending"...fvckers!

**Doug** · 02-19-07, 08:43 PM

Wouldn't the buyer have risk of the seller (like John) not paying him if John gets paid ? Seems messy. Do you sue a guy over $1,000 ?

I don't think this is as easy as just selling it like a stock, but I'm no lawyer...but I played one on TV !

**louis** · 02-19-07, 10:00 PM

Yes, you would have to sue him

If neteller pays up, and the seller refuses to hand it over to the buyer, the buyer takes the contract into court and sues the seller.

This is exactly why a contract is necessary.

The contract should also state if the seller does not cooperate and pay, he/she is liable for the buyers legal expenses.

I do think this is a very messy type of situation, but it could work if the contract is well written and enforceable.

Having said this, I am not a lawyer, and it would be helpful if there are any lawyers who would comment.

**Wheell** · 02-20-07, 02:34 AM

You know that you guys can simply bet on the odds of full payments being made to Americans by x date. I'd say given a 3 year frame I'd put payment as a 3-1 favorite.

**Korchnoi** · 02-20-07, 09:21 AM

Originally posted by Wheell

You know that you guys can simply bet on the odds of full payments being made to Americans by x date. I'd say given a 3 year frame I'd put payment as a 3-1 favorite.

such a bet certainly isn't legally enforceable. I wish Tradesports/Matchbook would list contracts to allow NT users to hedge their default risk.

**fearless** · 02-20-07, 09:28 AM

Can't you still send money to people or is the money totally inaccessible?

**Thrillseeker** · 02-20-07, 12:52 PM

Originally posted by SBR_John

Good post louis.

Van, I dont think thats an option. I ordered a check the day the owners were pinched. They took the money out of my account and its been pending ever since. So its not in my account and it has not been sent...its "pending"...fvckers!

They might move it back to your acct for you if you ask them...I used the VIP email addy & told them that I wanted to use the money on a non-gaming merchant, and they moved my pending eft back into my neteller acct within a few minutes...