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re: Just took on a client who took out pay day loans
Posted on 2/5/18 at 12:34 pm to KiwiHead
Posted on 2/5/18 at 12:34 pm to KiwiHead
He took out a "mafia style" loan because the banks wouldn't loan it to him. 5 will get you 10 this guy has shite credit and was high risk. If he's set up on Bi-monthly autodrafts it's further evidence that he's not reliable with his payments.
This post was edited on 2/5/18 at 12:37 pm
3
Posted on 2/5/18 at 12:36 pm to jiffyjohnson
There is a pretty good documentary on one of these companies on Netflix. Dirty Money.
Posted on 2/5/18 at 12:42 pm to jiffyjohnson
quote:
If he's set up on Bi-monthly autodrafts it's further evidence that he's not reliable with his payments.
True, but he was on disability for almost 6 months....disability does not pay you squat....about maybe 70-80% of your gross. His life is a mess because of it. All of his money went o paying for medications, and the roof over his head, etc.....then he took out the loan
Posted on 2/5/18 at 12:56 pm to jiffyjohnson
Get off your high horse. Not many banks will loan people money without collateral or security of some kind. This is independent of payment history.
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