> For the complete documentation index, see [llms.txt](https://docs.lends.so/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.lends.so/products/p2p-lending/faqs.md). # FAQs ## Frequently Asked Questions **Q: Can I extend my loan?**\ A: No, once the loan term has expired, the lender will have to initialise another pool.\ \ **Q: As a lender, can I adjust my rates?**\ A: You can adjust rates for new loans, but existing loans maintain their original terms.\ \ **Q: How does Lends ensure fair pricing?**\ A: Our platform allows market-driven pricing, with lenders setting their own competitive terms. **Q: What happens if I default on my loan?**\ A: Defaulting is treated as a strategic option. You forfeit your collateral but keep the borrowed funds.\ \ **Q: How do I create a lending pool?**\ A: Deposit tokens into your account, set your parameters like APR and LTV ratio, and then launch your pool.\ \ **Q: Can I have multiple lending pools with different terms?**\ A: Yes, you can create multiple pools with varying terms to attract a wider range of borrowers.\ \ **Q: What types of collateral can be used?**\ A: The platform supports various collateral tokens, which you can specify when setting up your lending pool.\ \ **Q: How do I monitor my account and loans?**\ A: You can view your lent assets, open orders, and counterparties on your account page, and manage your loans and adjust parameters as needed.\ \ **Q: Is there a risk of forced liquidation?**\ A: No, Lends does not enforce forced liquidations. Borrowers have the flexibility to choose their repayment strategy.\ \ **Q: How are repayment deadlines handled?**\ A: Both parties know exactly when repayment is due, eliminating guesswork and ensuring clarity.\ \ **Q: What if the market value of the collateral drops**?\ A: Our approach helps stabilize token value during market downturns, benefiting the entire ecosystem.\ \ **Q: Can lenders use defaults strategically?**\ A: Yes, lenders can use defaults to acquire desired assets at predetermined rates, effectively using Lends as a limit order system.\