Registration

Debt Service


The Debt Service provides WebMoney System participants with the option of issuing and taking loans online on advantageous terms, bypassing intermediaries. All operations within Debt are conducted automatically with convenient options for issuance and repayment of microcredits. The Debt Service, which is free of charge, operates with the following currencies: Russian Ruble, WMR (available for citizens of the Russian Federation), Ukrainian Hryvnia, WMU (available for citizens of Ukraine) and American Dollar, WMZ.

To use the Service, a participant must have a Z, U or R purse and a WebMoney Passport of a formal or of an upper type. For conducting debt operations which require confirmation with SMS within the Service, a participant also must have a verified mobile number on record with their WebMoney Passport.


OPENING THE TRUST LIMIT

With Debt Service, participants of the WebMoney System can borrow funds and issue loans online on advantageous terms without intermediaries

You can open trust limits only for people you know. The more contacts you have, the higher amount in total you can lend

All operations within Debt are conducted automatically in convenient forms of issuance and repayment of microcredits The Debt Service is free of charge

One system participant makes an offer to another system participant

The other system participant accepts the offer

LENDER

TRUST LIMIT

BORROWER

Purse number, maximum loan amount, credit term, interest rate and repayment terms

Notice to the Creditor notified The Borrower accepted the offer The Borrower did not accept the offer

RECEIVING A LOAN VIA THE TRUST LIMIT

BORROWER WMID

THE TRUST LIMIT HAS BEEN SET

paymer.com

for an amount double the value of the debt

Setting the loan criteria (the loan amount and term)

The text of the Loan Agreement

Issuance of Borrower's debt obligations

set

accept

accept

Transfer Funds to the Borrower

The System verifies the credit limit of the Borrower

Notice to the Lender

Loan Servicing

Repayment of the principal amount of the loan and interest

Transfer of funds to the Lender

Repayment of the personal debt obligations on the repaid amount

ALL PERSONAL OBLIGATIONS ARE SETTLED

OVERDUE LOAN

OVERDUE LOAN

На WMID Заемщика есть средства

WMID Заемщика блокируется(нет средств)

The Lender recovers the funds from the Borrower's WMID If funds are insufficient for the loan repayment, the loan is covered by trust limits of other Lenders

The Lender awaits resolution or contacts the Borrower

The Lender receives the Borrower's obligations from PAYMER

Resolving the situation in Court

Sale of the Borrower Obligations on the DEBT Market

THE LOAN HAS BEEN REPAID IN FULL

ALL OF THE BORROWER'S PERSONAL DEBT OBLIGATIONS ARE SETTLED

Using the Debt Service a Borrower can take a loan online quickly in three simple steps:

  1. Conduct their debt commitments on the Paymer website.
  2. Sign a Loan Agreement.
  3. Submit an application for a loan.

Frequent users of WebMoney Debt with TL of 15 or higher have an option of receiving an online loan automatically.

To become a Lender, you need to find an individual who would like to borrow funds. You can select a potential Borrower by checking their WebMoney Passport and the loan application in the “Loan Offers” menu. A Trust Limit is set for each Borrower individually at the discretion of a Lender. A Trust Limit determines the loan amount, the interest rate and the loan term. To enter into the contractual relationship with the Lender, the potential Borrower must accept the terms set within the Trust Limit.

Loan Repayment

A loan can be repaid either within the loan term set by the Trust Limit or ahead of schedule.

In the case when a loan issued online has not been fully settled from the purse to which the loan was issued, the outstanding difference towards the loan will be either withdrawn from other purses belonging to the Borrower or other Trust Limits will be used.

Issuance and repayment of monetary funds are conducted strictly within WebMoney Debt.

Transfer of funds online from one Keeper to another is not considered as a loan repayment.

Resolution of Disputes

There are a number of options for resolving a dispute when a Borrower does not repay the loan within the set term:

  1. The overdue funds can be withdrawn from the Borrower`s current account or their other purses;
  2. The Borrower's other Trust Limits can be used towards repaying the loan;
  3. The debt can be settled with a Paymer cheque
  4. The Borrower's debt can be placed on WebMoney DebtMart Exchange (an automated service for trading promissory notes on un-repaid loans).

Before establishing the limits, read the recommendations to the lender!