Im finally going to do it (side business)

[ZZZSpeedster]

Where is your store located?


Brock already has his car warmed up

If he asks you for money to buy a laptop....lookout!

 

[Illini]

Illini, ive wrestled with that one for a while....

Let him without sin, cast the first stone....

you guys dont know how things operate down here in the South...... its a very much: "Good Ole Boys" network.....

I think you have too much to lose and too little to gain. A debtor is slave to the lender, and these people, even in the south, will resent the power that you have over them. Add in the fact that you could get pinched, and it's just not worth it, imo. Especially since I know you are a Christian that wants to share his faith.

 

[Paterno]

Where is your store located?


Brock already has his car warmed up

If he asks you for money to buy a laptop....lookout!

:lol:

 

[SSI]

Illini, your correct on all those statements.......

 

[Journeyman]

SSI why not just go the licensed route?

 

[Presto]

What happens when one of your "friends" puts a stop payment on the check?

 

[GoSteelers248]

or even give you a check and then close their accounts??

 

[SSI]

i take and cash checks all day long, already.....

no difference, im going to simply run it thru my store business...

check on a closed account is an automatic arrest.....

ive dealt with checks and how to handle bad checks for almost 12 yrs now.

 

[joeyfitzclick]

Just stop gambling. You will 'make' much more than $20 every 14 days.

Addition by subtraction.

 

[BAGIANT]

It seems to be a flourishing business in California. Every check cashing store and liqour store seem to be doing it lately. I think you have to register in order to loan the money though. At least here you do. They have the interest % listed on the wall and it is HUGE!!!

 

[WVU]

You are accepting checks from someone who doesn't have cash. That is illogical

 

[levistep]

10% interest in 2 weeks is illegal. That works out to 250% annual. Pretty sure that is illegal everywhere. Either way, definitely illegal without some sort of license.

 

[whalewager]

depends on the state

 

[SSI]

WVU, i dont know if they have the money or not.....

Levistep, very much legal here.......

payday loan shops here, get $30 on every $200 loaned in 14 days...... 4 or 5 shops around town, all advertise....... no problems...

ive talked with a girl, who ran one of these....... she said she was very surprised how little they lose and when she left the one in which she worked, the owner had over 500 customers......... thats a cool $5000 per week or a quarter million per year, on your money.......

 

[levistep]

WVU, i dont know if they have the money or not.....

Levistep, very much legal here.......

payday loan shops here, get $30 on every $200 loaned in 14 days...... 4 or 5 shops around town, all advertise....... no problems...

ive talked with a girl, who ran one of these....... she said she was very surprised how little they lose and when she left the one in which she worked, the owner had over 500 customers......... thats a cool $5000 per week or a quarter million per year, on your money.......

Ohh, is this in CR? If you did this in the US the gov't prevents you from collecting interest when they catch you, plus they prosecute you harshly. In some states, the gov't says the borrower gets to keep all the money and don't have to pay back a dime.

 

[SSI]

no.......

 

[WVU]

what kind of store do you have?

 

[whalewager]

thats not true...there are payday loan shops all over the southern states that are thriving charging more interest than that

the last i heard...the Fed was trying to pass some legislation that would make it tougher on shops but they havent

 

[SSI]

convenience store....

i sell pizzas, sandwiches, breakfast biscuits, burgers, rent movies, tanning beds.........

why not loan money as well........ simply write me a $220 check, ill give them $200...... they have 14 days to pay it off, or bring me $20 and roll it another 14 days....... simple as that......

ive been in business for almost 12yrs, i know most of my customers on a first name basis....

 

[levistep]

thats not true...there are payday loan shops all over the southern states that are thriving charging more interest than that

the last i heard...the Fed was trying to pass some legislation that would make it tougher on shops but they havent

Ok, let me look it up. Maybe I missed something somewhere.