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Being a loan shark

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    #1

    Being a loan shark

    During the last downturn I knew someone who ran one of those back of the tabloids loan companies. He made an absolute fortune at ridiculous interest rates. I noticed the other day a large furnishing/elctronics chain is offering 20 odd percent APR and seemed to be rather busy. I can see a plan B here.........
    The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.

    But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”
    Tags: None
    #2
    Originally posted by Bagpuss View Post
    During the last downturn I knew someone who ran one of those back of the tabloids loan companies. He made an absolute fortune at ridiculous interest rates. I noticed the other day a large furnishing/elctronics chain is offering 20 odd percent APR and seemed to be rather busy. I can see a plan B here.........
    How many defaulted?

    Or do you need a way of ensuring people pay up?

    Comment

      #3
      What like threatening to send CyberTory round to their house to bore them to death?
      The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.

      But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”

      Comment

        #4
        Originally posted by Bagpuss View Post
        What like threatening to send CyberTory round to their house to bore them to death?
        I think sending AtW round to lecture them about taking on debt they couldn't afford would be equally effective
        ǝןqqıʍ

        Comment

          #5
          One of those fee charging ATM's might be a good earner. As always, location, location, location. Or maybe pre-paid debt cards?

          Need to find a business that gets the chav benefit up-front and makes them dependant.
          How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.

          Follow me on Twitter - LinkedIn Profile - The HAB blog - New Blog: Mad Cameron
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          "We hang the petty thieves and appoint the great ones to high office" - Aesop

          Comment

            #6
            Originally posted by Bagpuss View Post
            What like threatening to send CyberTory round to their house to bore them to death?
            I was thinking more about dressing up in a batman costume and sitting on their roof......

            Comment

              #7
              Originally posted by HairyArsedBloke View Post
              Need to find a business that gets the chav benefit up-front and makes them dependant.
              Smack dealer?
              ǝןqqıʍ

              Comment

                #8
                Originally posted by Bagpuss View Post
                What like threatening to send CyberTory round to their house to bore them to death?
                No need to go that far, baseball bats aren't all that expensive.

                Comment

                  #9
                  An old school pal of mine is now a debt collector. He was such quiet, nice and pleasant bloke at school... f--k knows what happened. He makes a tidy sum, and defaulting is, it seems, not an option, whatever that means.

                  Comment

                    #10
                    20% APR is peanuts for door-to-door loan pushers.
                    They make several hundred % APR, sometimes more.

                    e.g. these folks (182% APR typical)

                    P.S. Baggy, no offence, but I doubt you have the balls or the contacts to make this a viable Plan B

                    Edit. A quick search around and I found loans at more than 1500% APR
                    Last edited by Platypus; 14 October 2008, 18:48.

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