How the fuck can payday loan places get away with this kind of APR? Is owning a payday loan business the secret to getting rich quick?
>>1379769
"Hey, look at me, I am incredibly retarded and willing to agree to a loans terms because fast money. I trust that capitalism will treat me equally and fairly."
>>1379769
Remains to be seen how Obama's latest policy change will affect their bottom line. Because it requires them asking a lot more intrusive questions, he's walking a fine line between "You're not protecting the stupid people" and "You're embarrassing low income people who need loans".
>>1379795
>there is literally nothing wrong with being a massive jew
>hey, if the bank didn't want robbed, it would've used a better vault lock, I'm totally blameless
Can I get a 40 dollar loan? where can i do this
>>1379949
Cash advance on your credit card
>>1379939
>inplying the bank walking up to you and handing you tbousands of dollars is bank robbery
>>1379769
>How the fuck can payday loan places get away with this kind of APR?
because capitalism
>Is owning a payday loan business the secret to getting rich quick?
you can get pretty rich, keep in mind people who take these are equal parts poor and stupid, youre gonna get tons of people defaulting and then you have to pay someone to repo their car and pay another person to sell it
>>1379994
>implying they aren't actively baiting people they know have poor financial literacy and bullshitting them with phony promises until they take the bait
I know honest money is hard, but it doesn't make being crooked OK.
>>1379769
Because, it turns out, they're meant for quick, short term emergency payments that are supposed to get paid back almost immediately, so the borrower rarely pays any of the more ridiculous fees/interest.
Hard to get rich quick when you can't collect what you're owed.
>>1379785
fuck off posting that you cunt your ruining this fucking board
>>1380110
This plus litigation costs to go after defaults.
>>1379769
Recently in uk around 70% of payday loans were written off as loss because of new regulation, goverment said if people cant pay them back you mustnt pursue them or something along those lines.
>>1380018
>actively baiting people they know have poor financial literacy and bullshitting them with phony promises until they take the bait
You mean like Robinhood?
>>1380176
There will be more legislation passed like this in the U.S.
If the big banks aren't doing it (follow the big money) you can suspect they don't think the long term prospects are there
>>1380018
>phony promises
Gonna need a citation. There is absolutely nothing wrong with borrowing $255 to cover rent and paying $300 back in 2 weeks as long as you agree to the premises of the loan. And it's pretty straight-forward since you have to sign like 4 sheets saying you will pay back the loan plus x amount within two weeks.
Good luck getting the debtors to pay.
>>1380204
The trading platform or mythical character? Because if it's the latter, sure, if we rob the rich, they won't till the soil, prepare meals, stock shelves, roll steel, deliver mail, etc.
>>1380260
>they won't till the soil, prepare meals, stock shelves, roll steel, deliver mail, etc.
The rich do all those things?
And didn't Robin Hood rob the government of Nottingham?
I think that's why the sheriff was always after him.
>>1380493
No, they don't, but they've sure got a lot of this country thinking they do.
Also, the comparison to government isn't really as 1:1 as it looks. A monarchy is so different from a republic or democracy. A monarchy is basically a dictatorship of a rich family. In a democracy or republic, the people are the government. Robin Hood stole from one rich asshole more than he stole from any "government" as we know it, which is why neocons trying to claim Robin Hood as one of theirs is beyond absurd.
>>1379769
>secret to getting rich quick
They're a shit fuck piss poor buisness because the sort of people that use payday loans aren't going to be able to pay back 170,000% annualized compound interest and you're just going to be sitting on fuck tons of non-performing loans.
>>1380549
>they've sure got a lot of this country thinking they do
You're a Republican, huh?
I've always thought of owning a payday loan establishment but the only thought that runs through my head is nobody paying any of their loans back and defaulting.
>>1380566
Nope. Can't be a Republican if you don't worship the rich and hate labor.
>>1380594
You're supposed to make loans to people on terms that it's obvious will be difficult to pay back, and cry to mommy government when, surprise, they don't pay it back. Mean old mommy government will even reward you for failing, allowing you to deduct bad loans against successful attacks and, at the federal level, wages from your day job.
>>1379949
For that kind of money you're better off asking people you know.
Otherwise borrow the lowest amount you can find like 100-500 and only use 40 out of that.
>>1379769
if its legal in your state start up a title loan business. you can get running cars legally because people miss a $50 payment.
>>1380966
>worship the rich and hate labor
What about just one?
I mean, if you worship the rich, but don't hate labor, can you get some kind of credit for that?
>>1381832
No, you get called a RINO.
When I say worship, I mean old testament God worship. You do not question Him. He floods the world, it's right and just. He tells you to cut your son in half, you do it. This blind obedience and sacrifice is what they demand of you. The second you say "but my country" or "but my environment" you are branded with a scarlet S for Socialism.
>>1382033
>I mean old testament God worship
Well that sounds kind of demanding.
How about if you flip it?
You know, if you don't worship the rich, but hate labor?
That sounds more chill than flooding the world and whatnot.
>>1380966
>ebul Rethuglicans hate labor
Funny how the Dems love labor so much they make sure no one ever leaves the lower-middle class. Why should I work harder for a raise when my lower Obamacare subsidy will eat it up anyway? Looks like I'll be $60k/year for life.
>>1380240
Tbh this. Not everyone is able to be approved on a bank loan, but if they got a paycheck coming soon the size of the loan they want to take out... I hope to never need one but it's a likely necessary niche
>>1380026
So how many people who have no immediate cash on hand are able to pay back a thousand dollar loan in less than a week?
>>1382686
>dur hur u must like da dims
Retards aren't even subtle.
they are beginning to be lobbied against and there are new companies in the making that are changing the way people get paid
>>1384055
And I mean again you're defending the kikery's exploitation of the most desperate borrowers. Maybe that's a step up from being a NEET or shilling shitcoins. But then taxpayers aren't subsidizing them to anywhere near the extent that we subsidize banks and other reckless businesses that can't get their greasy snouts off the dole.
>>1379769
There's high risk involved loaning money to people who are poor due to being stupid.
But high interests tend to make up for it.
>>1379769
>loan money to niggers, felons and crackheads
>they are totally gonna pay me back
yeah anon its totally easy money LOLOLOL
