Forum Rules
Do not SPAM this forum or you will be banned. This includes you advertising on this forum without expressed permission by the Administrators.
Do not post, without prior permission, any information regarding investments or investment programs.
Payroll loan prospect for investors
5% / month, 60% / year
- Norwegian blugger
-
-
Group:
Sponsor
-
Posts:
492
-
Joined:
21-May 07
-
Thanked:
76
-
Gender:Male
-
Location:Kristiansand, Norway - Abanti, Cebu
-
My Blood Type:A+
-
Philippines:Visited 6 to 9 times
Posted 26 June 2010 - 11:35 PM
caloy, on 26 June 2010 - 11:27 PM, said:
Baldy, on 26 June 2010 - 11:16 PM, said:
caloy, on 26 June 2010 - 11:08 PM, said:
These people will not to those who charge 20% lenders if they have other options. They cannot borrow from banks and what they are loaning is very small amount that banks won't even bother. People do this because they need cash pronto and they can't wait for several days processing and paperwork. Some borrow to pay for electricity, rent, or to buy important stuff like milk and diapers. One fact is, they need money and they are WILLING to pay the interest. By giving them a lower interest option, the investors are helping them save a few pesos from interest which they can spend on important things. It might be "immoral" for some when they see people charge interest, that's a valid feeling though it won't solve the need for these people to find a lender. If we just close our eyes and do nothing then people will still be paying an onerous rate of 20%. For me, it's more immoral to do nothing unless you want to give your money to people for free.
Ok, I get it.
What You are saying, its better to pay 60% annual than 20% mnthly.
I have NO PROBLEMO to see this.
BUT whatever You say, that is taking advantage of the poor.
In some people's definition "taking advantage of the poor" = Business
And it doesn't happen only here. Anywhere in the world, people are taking advantage of other people. These people are just unlucky that credit card companies here in the country is a bit strict in giving out credit cards. Subprime earners are not gonna get credit here not even a cent so they turn to informal channels like the Indians (bombay) and some Filipino 5/6 comps.
For your way of thinking, this is how it will look like "it's the lesser evil".
I am an open minded person.
I even smoke maroccan when it was leagal, hehehe (was never legal you know)
Jokes aside, who wouldn't take advantage of that interests? whu?
Peace, Im not a warmaker. I'm just openminded asking the moral legal backing to do so?
A strong body makes the mind strong. As to the species of exercises, I advise the gun. While this gives moderate exercise to the body, it gives boldness, enterprise, and independence to the mind. Games played with the ball and others of that nature, are too violent for the body and stamp no character on the mind. Let your gun therefore be the constant companion of your walks. Thomas Jefferson
0
- Full Member
-
-
Group:
Senior Member
-
Posts:
855
-
Joined:
12-March 08
-
Thanked:
29
-
Gender:Male
-
Location:Cebu City
-
My Blood Type:O+
-
Philippines:Currently Reside In
Posted 26 June 2010 - 11:49 PM
I know... this one is a healthy discussion. Someone has to play a "devil's advocate" to arrive to a better idea or solution.
Cheers!
0
- Full Member
-
-
Group:
Sponsor
-
Posts:
482
-
Joined:
28-December 09
-
Thanked:
95
-
Gender:Male
-
Location:Spring Hill, Florida
-
My Blood Type:O+
-
Philippines:Visited 1 to 5 times
Posted 27 June 2010 - 01:21 AM
Admin, on 26 June 2010 - 10:15 PM, said:
WOW.. just WOW!!
0
- The Closer
-
-
Group:
Admin
-
Posts:
3,235
-
Joined:
20-August 06
-
Thanked:
260
-
Gender:Male
-
My Blood Type:I will not or cannot donate.
-
Ham Call Sign:G8BLW
-
Philippines:Previously Resided In
Posted 27 June 2010 - 03:45 AM
In the UK we've had credit and store cards charging 30%, 40%, 50% and more. Mostly American banks, who had no previous presence in the UK and have used that "niche" of the market.
I have known of genuine deals that made much higher percentages, and know people who have made lots of money with them.
I prefer a modest return and minimal risk, which is why those guys are far wealthier than I am.
But, if the amount required is so low that I wouldnt miss it, then it is worth considering.
0
- The Enforcer
-
-
Group:
Forum Mod
-
Posts:
2,057
-
Joined:
16-June 08
-
Thanked:
207
-
Gender:Male
-
Location:Cebu City or sometimes Fishguard UK
-
My Blood Type:I'm not sure what type I am.
-
Philippines:Currently Reside In
Posted 27 June 2010 - 08:08 AM
Paul,
I am very interested in taking-up the remaining 10k.
However I would like to make one point which is that those who advance these loans at much higher rates of interest are not going to take too kindly to a 'new kid on the block' stealing their business by offering significantly lower interest rates. If anything untoward happens to your friend, the investors could also lose-out. So does he/she have good personal protection?
Mark
0
- Hello
-
-
Group:
Senior Member
-
Posts:
1,680
-
Joined:
16-December 07
-
Thanked:
173
-
Gender:Male
-
Location:Living on Cebu
-
My Blood Type:I'm not sure what type I am.
-
Philippines:Currently Reside In
Posted 27 June 2010 - 09:19 AM
May I suggest, to those like Baldy who think the interest rate is too high? Is there some reason why you cannot set up your own investment group and charge less? My point being that it is not being done, thus the rate of 60%pa is the fairest available. I am curious about the tax issues here. The way lending businesses like this are set up in the Phils I believe the tax people here take 20% off the gross? Unless this is under the table? I am interested either way but since it seems the original 60K is committed to then I shall wait to see if there is a phase 2.
All foreigners bring smiles to filipino faces. Some by coming here and some by going home.
0
- Full Member
-
-
Group:
Sponsor
-
Posts:
242
-
Joined:
17-December 08
-
Thanked:
21
-
Gender:Male
-
Location:Los Angeles / Northern Samar
-
My Blood Type:A+
-
Philippines:Visited 9 times or more
Posted 27 June 2010 - 09:37 AM
I'm already doing this but I get 10%. With a 40,000php investment I no longer have to send my wifes mother $100.00 a month, it's self paying.....
0
- Full Member
-
-
Group:
Sponsor
-
Posts:
1,122
-
Joined:
28-July 09
-
Thanked:
212
-
Gender:Female
-
My Blood Type:No option chosen.
-
Philippines:No Answer
Posted 27 June 2010 - 09:59 AM
Markham, on 27 June 2010 - 08:08 AM, said:
Paul,
I am very interested in taking-up the remaining 10k.
However I would like to make one point which is that those who advance these loans at much higher rates of interest are not going to take too kindly to a 'new kid on the block' stealing their business by offering significantly lower interest rates. If anything untoward happens to your friend, the investors could also lose-out. So does he/she have good personal protection?
Mark
0
- The Enforcer
-
-
Group:
Forum Mod
-
Posts:
2,057
-
Joined:
16-June 08
-
Thanked:
207
-
Gender:Male
-
Location:Cebu City or sometimes Fishguard UK
-
My Blood Type:I'm not sure what type I am.
-
Philippines:Currently Reside In
Posted 27 June 2010 - 07:47 PM
Elinel, on 27 June 2010 - 09:59 AM, said:
Markham, on 27 June 2010 - 08:08 AM, said:
Paul,
I am very interested in taking-up the remaining 10k.
However I would like to make one point which is that those who advance these loans at much higher rates of interest are not going to take too kindly to a 'new kid on the block' stealing their business by offering significantly lower interest rates. If anything untoward happens to your friend, the investors could also lose-out. So does he/she have good personal protection?
Mark
Elinel
As Paul has already mentioned that the lender will retain the borrowers' ATM cards, the risk of defaults on loans should be small. Of course, a dishonest borrower could simply report their ATM card is missing or stolen and have their bank cancel it.
The other risks you mention are all very valid and should be borne in mind by any (potential) investor. Remember the Golden Rules:
- Don't invest more than you can comfortably afford to lose.
- The value of your investments can go down as well as up.
- Spread your exposure - and thus your risk.
Mark.
0
- 100% Real Turkey
-
-
Group:
Sponsor
-
Posts:
1,540
-
Joined:
20-February 09
-
Thanked:
134
-
Gender:Male
-
Location:On top
-
My Blood Type:I will not or cannot donate.
-
Philippines:Visited 6 to 9 times
Posted 27 June 2010 - 11:12 PM
Typically the high interest rates reflect the high risk. If it was a rip off the market would provide a lower cost alternative, as in this case where the existing loans are being given at a rate that the new loans will in fact under cut.
0
Share this topic:
1 User(s) are reading this topic
0 members, 1 guests, 0 anonymous users
Help
Top
