Living In Cebu Forums: Payroll loan prospect for investors - Living In Cebu Forums

Willie, on 23 June 2010 - 01:03 PM, said:

AAaahh you are forgetting yourself .....
2 good 2 B true BUT ??? U are with uszszes ..

Eagle Tom

EAGLE, on 24 June 2010 - 01:52 AM, said:

Tom, what is "uszszess?" I don't know that one...


Paul, I'll might throw in $100, if that's the minimum. Keep us posted...

Paul's current venture is fair. I have my own ventures as well which are a lot more risky as I cut rates from 20% a month to 10% which may seem high to people here but believe me if you researched the number of people involved in lending that either lose everything or get murdered its a fair deal. The other thing is I don't lend to people generally only businesses to reduce my risk but also to protect people themselves as its "stock values" I deal with as they can quickly churn the stocks over.

Now would it work in the West? It does!! I used to max out my credit cards on a Friday go to a wholesaler load up with stocks work Saturday and Sunday then stick the money back on my cards. Well that is what you can do with a credit rating. Here the people generally aren't so lucky banks won't lend to them yet they still need to keep their businesses churning over. They lack capital to get above a threshold that they can afford to own all their stocks at the same time they would no doubt lend more as business is good. Point being its not so black and white as a lot of people assume it is. Most of the markets survive on lenders because if people didn't loan them money they would never be able to buy wholesale stocks.

Willie, on 24 June 2010 - 02:43 AM, said:

Cool. If interested, it is Php 5,000 minimum, for a minimum length of two months.

I will PM you more information.

P10,000 ($200 and some change) here!

It'd be nice to make some change for two little kiddos I help send to school.


Admin,
Please PM me, when and how to wire the P10k.


Thank you Sir.

Sent, Trey.

I'm not kissing admin's a**, BUT Paul would be the last person to cheat on you, have you even met the guy, i have and he is one of the few nicest people you will ever meet in your life.

If Paul wanted, he could have used all snake oil tactics and rat poison sales technique to squeeze you in first and then suck you dry. Common, the first post was not the best advertisement for investments, even a kid could have figured 5/6 and 60% interest difference.

When have you last seen, such a advertisement from a pro scammer, there was no cover to hide real intentions.....people were able to dissect everything easily in the first post. Do you really think, if paul had any other plans he will make it so simple for you. Common, people in this forum are more intelligent than that.

He is just helping another friend of his as he said and its obvious from the first post. You guys think yourself to be too smart to catch on this, Ponzi schemers move so fast, you won't even realize they even took your pants.

Give the guy some credit, he is been in Cebu for a long time and he knows what kinda friend he deals with staying here for so long.

Its funny how you guys think, 60,000 is not a big amount to cheat anyways in Cebu for a guy like Paul. With Paul reputation, credibility and his standing among expat.....one would really think he would go for a long con...like 2-5 million pesos.

I'm not in PH right now, else i would have gone for it.. considering the credibility of the Admin. Why would you hesitate for 5000 pesos..ohh yeah i get it..Jim Cramer didn't tell you to invest all your lifesavings yet..so you are waiting for that. Good Luck

From this weeks Economist (there is special report on debt) for those that may be interested.

"Meanwhile, those who have maxed out their credit cards have been forced to turn elsewhere. One very expensive route is payday loans. As Jean Ann Fox of the Consumer Federation of America explains, this involves the borrower writing a cheque to the lender for the sum borrowed, plus the financing cost, which the lender cashes on payday. Over two weeks the cost works out at around $15 of interest for every $100 borrowed, which amounts to an annual interest rate of 400%. People who use the facility average nine payday loans annually, so they can end up paying more in interest than they have borrowed.

The outcome is predictable. According to the Centre for Responsible Lending, a quarter to half of all payday borrowers default every year. Congress has restricted access to such loans for the families of members of the armed services. But why do consumers choose such an expensive way of borrowing money? “A lot of people opt for a payday loan because it’s easy and the lenders don’t run a credit check,” explains Ms Fox."

I mailed you Paul,
Piet.

I'm interested, I've lost more than that buying beers and pizza on a good night so the risk seems OK.