Cost of doing business with deadbeats alert.
Company's that lend at 20% interest to over-extended people take big risk of default. That's why they charge 20%.
I don't really feel sorry for such lenders, really.
They're big boys and knew exactly what they were doing, and they make plenty of money doing it.
AMEN!!!!
The new BR bill stinketh to high heaven.
parsy, who smelt it years ago.
I guess the word usury doesn't mean anything.
I did a study of antebellum South Carolina private lenders for whom I could find books, and looked at the "deadbeat" list---they not only kept #s and $s, but had comments like, "refuses to pay," "can't be counted on," "skipped town," and so on---and found that the default rate was about 60% among smaller borrowers, 12% among larger borrowers.