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re: Republic Finance moving headquarters from Baton Rouge to Plano, Texas

Posted on 5/16/22 at 5:18 pm to
Posted by iAmBatman
The Batcave
Member since Mar 2011
12382 posts
Posted on 5/16/22 at 5:18 pm to
quote:

I actually interviewed there right after college and they asked me “how would you feel selling people 25%+ APR loans?” I just couldn’t do that in good faith.

They basically said on a daily basis they call their existing loan accounts and “see how we can get them some more money they need (by selling them another loan)”. Awful business, I couldn’t do it.


Agreed...I had to audit a few of those places and I always hated it. They're basically legal loan sharks.

Good riddance
Posted by lsupride87
Member since Dec 2007
95947 posts
Posted on 5/16/22 at 8:12 pm to
quote:

Agreed...I had to audit a few of those places and I always hated it. They're basically legal loan sharks.
When I was in public accounting they were my main clients. Republic actually being one of them

Was sad the days I was on site working and some of the poor souls that would come into that place and what they would put up as collateral

The checks they randomly mail to people is the worst part. Mailing someone with a terrible credit score a check for 1,000, where all they have to do is go cash it. But then they are on the hook for 24% interest
This post was edited on 5/16/22 at 8:14 pm
Posted by doubleb
Baton Rouge
Member since Aug 2006
36236 posts
Posted on 5/16/22 at 9:17 pm to
quote:


Agreed...I had to audit a few of those places and I always hated it. They're basically legal loan sharks.


Even the loan sharks are scared to stay in BR.
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