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Started By
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1
Posted on 5/17/22 at 10:00 am to B2 Bomber
quote:
Aren't most of these loans unsecured? What is a fair price for a sub prime unsecured loan?
For some, and if market truly was "free", 25% APR or even higher.
Problem is the predatory part, when unscrupulous lenders try to take advantage of borrowers. Predatory lenders often target the most vulnerable, such as someone who has recently lost a job, has poor credit, or just doesn’t know what to watch out for.
A balanced perspective, supply and demand side, at the core putting human needs and lending behaviors front and center; fair, not free, pricing to balance needs on both sides while mitigating greed and exploitation and enabling a need to be met, with installment loans, etc.
If Friedman + Marx could have made a baby. Kidding. Not exactly.
Posted on 5/17/22 at 10:03 am to Dragula
Republic Finance is a shady organization.
Posted on 5/17/22 at 10:43 am to goofball
Why they chose to leave
Crime, poor public education, and lack of relationships and incentives in the BR area is forcing companies to make better choices for their businesses.
This was obvious but certainly needs to wake people up to what's going on in the city. Meanwhile, BR leadership is focused on not letting voters form a new city after a legitimate election.
Crime, poor public education, and lack of relationships and incentives in the BR area is forcing companies to make better choices for their businesses.
This was obvious but certainly needs to wake people up to what's going on in the city. Meanwhile, BR leadership is focused on not letting voters form a new city after a legitimate election.
Posted on 5/17/22 at 11:01 am to Tempratt
quote:
Aren't they the same type of operation as Tower Loan and Friendly Finance?
Pretty much. My son works for them. He graduated last March from LA Tech and they recruited him pretty hard to come to Lafayette. He has been there since he left Ruston and they are moving him to McKinney in June.
Posted on 5/17/22 at 11:09 am to SPEEDY
As is tradition…
Posted on 5/17/22 at 11:15 am to GentleJackJones
quote:Talk about a quality of life upgrade going from BR to Plano
Pretty awesome news if you're an employee.
Posted on 5/17/22 at 11:17 am to MrJimBeam
quote:
Crime, poor public education, and lack of relationships and incentives in the BR area is forcing companies to make better choices for their businesses.
This was obvious but certainly needs to wake people up to what's going on in the city. Meanwhile, BR leadership is focused on not letting voters form a new city after a legitimate election.
They aren’t leaving NBR so who cares? Broome doesn’t.
She cares about keeping SG tax dollars in the general fund not this.
Posted on 5/17/22 at 11:26 am to Papercutninja
quote:
God forbid they actually have a choice that is commensurate with their level of risk
There’s risk, and there’s loan sharing. 25% is the later, and should be outlawed, the same way we’d outlaw any Guido Thumbreaker on the street.
Posted on 5/17/22 at 2:14 pm to DesScorp
quote:
There’s risk, and there’s loan sharing. 25% is the later,
So I assume you would be comfortable lending to someone with a sub 650 credit score at 6%? I’d also wager that one of the cards in your wallet comes close to 25% APR with fees.
There is an entire subsection of our population that are unsuitable for mainstream credit (banks, credit unions). Consumer finance companies fill a need that people like you refuse to admit is real and refuse to acknowledge need credit for various reasons. It’s easy to opine from a place of economic privilege with little knowledge of the lending space. So many claim to be for a free market but then take a nanny-state opinion like yours.
Posted on 5/17/22 at 2:46 pm to Papercutninja
quote:
Consumer finance companies fill a need that people like you refuse to admit is real and refuse to acknowledge need credit for various reasons.
Also...
Opioid street dealers fill a need that people admit/accept is real and acknowledge their various needs for opioids.
If nanny state card applies to consumer finance companies, should it also be applied to opioid street dealers?
Posted on 5/17/22 at 2:51 pm to SPEEDY
Getting out of El shithole. Congratulations
Posted on 5/17/22 at 3:21 pm to Turf Taint
quote:
If nanny state card applies to consumer finance companies, should it also be applied to opioid street dealers?
Yes, people getting loans at higher rates due to their poor financial choices to fill an emergency need is exactly like buying and taking illegal drugs. Except for the whole drug induced violent crime and overdose part, you are spot on.
Posted on 5/17/22 at 4:06 pm to Papercutninja
Drawing that line is more art than science regarding filling a “need”
What is Legal/illegal interest rates APR
What are acceptable “needs” created from “poor” choices, financial (acceptable) or drug consumption (not)
Even the outputs, Desperation-induced violent crime, money driven or drug addiction driven, what’s the difference?
I agree re opioids btw but for thought…what is deemed “satisfying a market need” is more art than science when considering all aspects of the humans involved and their condition.
What is Legal/illegal interest rates APR
What are acceptable “needs” created from “poor” choices, financial (acceptable) or drug consumption (not)
Even the outputs, Desperation-induced violent crime, money driven or drug addiction driven, what’s the difference?
I agree re opioids btw but for thought…what is deemed “satisfying a market need” is more art than science when considering all aspects of the humans involved and their condition.
Posted on 5/17/22 at 4:14 pm to Box Geauxrilla
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.
People have to sign before they commit. They can always refinance.
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