Seizing Collateral from a Peer-to-Peer Loan
This guide will walk you through how to seize collateral on a delinquent peer-to-peer loan. These steps are applicable regardless of whether the loan originated as a request from the borrower or as an offer from the lender.
Navigate to "My loans" on the left-hand side of the platform.
Under “Loaned Assets,” locate the loan where you would like to seize the collateral. Loans that are delinquent, and thus eligible to have their collateral seized will have a “Seize Collateral” button.
Click the “Seize Collateral” button.
In the pop-up window, click the “Confirm” button.
Next, click the “Submit” button.
After the transaction verifies on the Ethereum blockchain, navigate back to the “My loans” tab.
Under “Loaned assets,” locate the loan in question. Instead of the “Seize Collateral” button you will see a “Collateral Seized” message.