We call them "buy now pay later" apps, we're getting poor people who can't afford Taco Bell to take out micro loans to pay for it and charging them huge interest rates
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im glad it worked out for you. but this post is about the people who it is clearly not working for and how these leeches are trapping people in a cycle of debt
I worked for a couple of years in banking regulation during the "financial crisis". This was one of the hot issues brought up then because they act as little more than loan sharks backed up by cops.
Like. The rates back then were commonly 4,000%.
There's no universe where these vultures aren't just tossing people down a debt hole along with a shovel.
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There's no universe where these vultures aren't just tossing people down a debt hole along with a shovel.