I wouldn't say we loan from players, but a bank.
The bank works like real life, except when TC is transferred into your account it automatically goes into the bank to transfer the payment so you don't have the choice to spend it. This system eliminates chasing down people for TC, limits abuse and I don't think it would be much of a problem to code.
I also think that you should have a limit on your loan, like how much TC you get on average per month. Kind of how real banks limit your loans so you actually have the regular income to pay off the debt.
I support it if the system would work like this, the other way is too much effort