Regulators Shut Down Lending Platform (YC Alum) LendUp

Re:Regulators Shut Down Lending Platform (YC Alum) LendUp by ErikVandeWater on Wednesday December 22, 2021 @06:32PM (#29656826)

I would say the cultural issue is more that the employer doesn't pay you immediately for your work. I understand there are regulatory reasons behind this, but still, this is what creates the dependency on credit.

There's nothing wrong with a credit card company giving out free 30 day loans with reasonable interest if they are not repaid on time.

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Re:Regulators Shut Down Lending Platform (YC Alum) LendUp by emodendroket on Wednesday December 22, 2021 @06:56PM (#29657033)

If you're in a position where you find yourself needing payday loans, I think that shifting around the pay schedule is not going to help; you just have too little buffer for your expenses.

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Re:Regulators Shut Down Lending Platform (YC Alum) LendUp by bobthepanda on Wednesday December 22, 2021 @06:37PM (#29656863)

when you say pay immediately, do people really get paid end of day in other countries?

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Re:Regulators Shut Down Lending Platform (YC Alum) LendUp by j16sdiz on Wednesday December 22, 2021 @06:51PM (#29656980)

Most of the countries do that Monthly or Weekly , afaik

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Re:Regulators Shut Down Lending Platform (YC Alum) LendUp by Dma54rhs on Wednesday December 22, 2021 @06:56PM (#29657031)

What is it that Americans do in that case?

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Re:Regulators Shut Down Lending Platform (YC Alum) LendUp by int_19h on Wednesday December 22, 2021 @08:09PM (#29657558)

Monthly or biweekly seems to be the most common.

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