[Goldenjet1818]

Hi,

What does everyone think about lending people with poor credit high risk auto loans and that type of business ?

[Aletheides]

like prosper.com ??

[NeeJam]

theres some businesses in the uk that do this - they lend money to people with CCJ(county court judgements), poor credit ratings and generally people the banks will not touch.

But they put 100%-500% interest charges on for lending people the money though

[Aletheides]

Originally Posted by nik_b02

theres some businesses in the uk that do this - they lend money to people with CCJ(county court judgements), poor credit ratings and generally people the banks will not touch.

But they put 100%-500% interest charges on for lending people the money though

This isn't possible in the states, those kinds of interest rates would be classified as "usurious" and would be illegal...I think they leave it to the mafia & other assorted knee-breakers.

[YPAL]

They are talking about introducing that over her too, although rates of 30% are still considered 'reasonable'.

[Goldenjet1818]

" This isn't possible in the states, those kinds of interest rates would be classified as "usurious" and would be illegal...I think they leave it to the mafia & other assorted knee-breakers. "


Thats untrue. It is possible to issue these loans in the states.