Re:A debt-collection machine that’s chewing up small busines...
by cm2012 on Tuesday November 20, 2018 @04:16PM
(#18497819)
My comment was just on how APR is calculated for short term loans.
Also, you only double your money every 3 months if none of your loans default and you collect everything. Most of these loans default. Profits are way slimmer than you're imagining, even for the scammers (Who I definitely agree should be punished for these practices).
Also, you only double your money every 3 months if none of your loans default and you collect everything. Most of these loans default. Profits are way slimmer than you're imagining, even for the scammers (Who I definitely agree should be punished for these practices).