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Can you comment on my second argument? These companies know that XX% (not .XX%) will default. They intentionally drive some customers in debt, and then profit
by andrewljohnson 16y ago
Can you comment on my second argument?
These companies know that XX% (not .XX%) will default. They intentionally drive some customers in debt, and then profit on the rest. This isn't providing loans for people in need... this is intentional destruction of people's lives and credit.
There is a spreadsheet in ZestCash HQ with some truly despicable calculations in it.
- Dylanlacey 16y agoThat's a farcical argument. X% of people will also default on their home-loans. Ergo, no-one should offer them. X% of people will default on service payments. X% of people will never claim on their insurance. X% of your customers will never go from 'trial' to 'customer'. Every business requires examination of the risks and amortization via the costs. So yes, some of their clients will go bankrupt. The rest will be charged high fees. And the pay day loaner? They will make a moderate amount of money, because they DON'T GET BACK THE DEFAULTED LOANS. They're not taking someone's house when they don't pay back, they're just losing their loan amount entirely.