What do yall think about loan sharking?

[valet]

I always thought of it as exploitation but my co-worker says he does it. He says yes there's always the possibility of losing. But the gains outweighs the losses. He will loan someone money and double the interest. Get their car as collateral, etc. I don't know. What do yall think?

 

[TAYLONDO SAMSWORTHY]

Depending on how much bread you talmbout lending, U gotta have a collection department of enforcers on deck at all times

 

[Doobie Doo]

I could only see myself doing that to a muthafuka I don't really like. I couldn't do no shyt like that to close friends and family.

 

[desjardins]

Whatever terms someone agrees to is on them
Pay day loan type places that are strategically placed in poor/rural areas are bad to me because it's a systemic thing
But an individual, that you need to seek out? That's on you
I wonder how a regular joe schmoe can enforce collection though. You need to be willing to risk jail to get your bread back

 

[RubioTheCruel]

You about that enforcement life

Your entire business model is built on threats.

 

[Ghostface Trillah]

Dangerous game to play without some type of organizational backing. Some people find it easier to kill the loanshark than pay them back.

 

[MajesticLion]

 

[King Poetic]

In other words payday loans as well

But dealing with criminals with loan sharking is stupid to do .. they give $500 but want $1200 back in 5 days

 

[RubioTheCruel]

In other words payday loans as well

But dealing with criminals with loan sharking is stupid to do .. they give $500 but want $1200 back in 5 days

Only people doing this are desperate people with no other options and/or crippling addictions(drugs, gambling)

 

[Wiseborn]

come to the coli to discuss crimes brehs.

Unless you´re a Bank or a credit card agency what are we talking about here?

 

[BurstWicks]

Nikka do I look like tony soprano

 

[boogers]

i dont loan more money than i can afford to lose. dont get yourself shot OP

also...

 

[BaggerofTea]

Dangerous game to play without some type of organizational backing. Some people find it easier to kill the loanshark than pay them back.

i was going to say


Just become a hard money lender OP, then at least you have the US government to back you up if/when shyt goes left

 

[Richard Glidewell]

If you believe certain things then you know this aint it. If not then its whatever. I dont live beyond my means so this will never affect me. I would never associate with anyone on either side of this spectrum because I dont catch strays

 

[⠀X ⠀]

Good luck with that