Regulators Shut Down Lending Platform (YC Alum) LendUp

Re:Regulators Shut Down Lending Platform (YC Alum) LendUp by refurb on Wednesday December 22, 2021 @09:47PM (#29658094)

Disagree strongly. I’ve lived in places that ban payday loans and it just goes underground.

What you’re approach is, is to just han things because “people are too dumb to make good choices”. I’d prefer not to live in a society like that.

And I’m kinda surprised you left out mortgages. The US has far less mortgage debt than other Western countries. Sure they don’t take on student loans, but they seem happy to take on massive mortgages.

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Re:Regulators Shut Down Lending Platform (YC Alum) LendUp by heartbeats on Wednesday December 22, 2021 @10:06PM (#29658210)

Illegal loans are harder to collect on. Sure, you have mob tactics, but there's a limit on how far it can go.

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Re:Regulators Shut Down Lending Platform (YC Alum) LendUp by refurb on Thursday December 23, 2021 @01:10AM (#29659155)

You’d be surprised. Singapore has a massive problem with illegal loans. And that’s a country with a pretty strict police force.

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