phantom309
Platinum Member
- Jan 30, 2002
- 2,065
- 1
- 0
Originally posted by: dullard
Or you can borrow your money by more conventional ways and save a bundle over the loan shark. But you are right that pay-day loan businesses are possibly the worst money mistake that anyone could ever make.Originally posted by: natedawg
I read something a while back about loan sharks. If you need a loan, loan sharks are the way to go. They typically charge much less interest than one of those pay-day loan businesses which can charge several hundred percent on their loans depending on how much you borrow.
The people who go to loan sharks usually can't qualify for conventional bank loans, either because of poverty, bad credit, no credit, or wanting to borrow money for stupid/illegal reasons. A lot of minorities also are deeply suspicious and resentful of going to the bank and asking Whitey for a loan (quite often for good reason). That's the allure of the loan shark; he always has money to lend NOW, he usually doesn't ask too many questions, and he doesn't care if you can't really afford to pay him back - because he knows you WILL find a way.