chinaman Well-Known Member Sep 8, 2017 #1 surely a new loan company could come in and charge say 300% on a loan then clean up with the amount of business they would do just a thought after watching an advert that has 1250% rates
surely a new loan company could come in and charge say 300% on a loan then clean up with the amount of business they would do just a thought after watching an advert that has 1250% rates
DeeGer10 Well-Known Member Sep 8, 2017 #2 I assume you mean payday loan companies. I think its probably got to do with the fact alot of the loans are never repaid so to keep them afloat then need to charge a huge rate to the ones who do intend to pay to cover losses.
I assume you mean payday loan companies. I think its probably got to do with the fact alot of the loans are never repaid so to keep them afloat then need to charge a huge rate to the ones who do intend to pay to cover losses.
Arminius Well-Known Member Official Ticketer Sep 8, 2017 #3 That is exactly it DeeGer. Massive default rates
Rt. Hon. Bearman Well-Known Member Sep 8, 2017 #4 The rates will only come down when the demand does.
