[JBinKC]

I think this idea will definitely fail. You have to be pretty gullible to loan a stranger money without having it collateralized and not having verified their personal information containing their social security number and who in their right mind would give that information to the person originating the loan. I think if they default you should have every right to collect the amount due and the opportunites to 1099 them for a bad debt and report them to the credit agencies.