Thinking of starting up a loan business

dan2983

I know this is probably a messy business but hopefully it can be rewarding

CHR15

There's a limitless customer base who will give you 70 pounds as soon as you ring them.

Loans not necessary.

chrissie22

Actually chri15 thats unfair as many many people do believe the twaddle the loan brokers give them, its hard to believe that companies who advertise they will truly get you the loan you ask for are in reality lying cheating b*****ds! If some are really desparate and need money for what ever reason are told that they have got the loan they ask for and all it takes is £60 for admin costs then to them its a much needed lifeline.

Companies like Wentworth tell customers they need card details for ID purposes, or to prove you are from the UK, and promise them no money will be taken from their account, some tend to believe that story, after all who would believe that loan brokers are allowed to lie like that? And of course when the money is taken from the account its very very difficult to get the money back.

If anyone is thinking about starting a loan company then good luck to them if they are meaning to start a good decent business, but anyone who gets on the money scamming bandwagon should be chucked in prison for a good few years, and whichever governing body is in charge of recieving and looking into complaints about these businesess and is allowing them to carry on the way they are going should be chucked in prison as well, because by not closing them down, or regulating them properly they are just as bad.

BugsyBrowne

Unfortunately being british these days is defiantly nothing I am proud of,but as chrissie22 some of these people who are being scammed into these loan people are desperate.
The reason being is our own government are feeding the rich and taking from the poor,being british mean you have to pay more than anyone else around the world for everything you buy on a day to day basis.
I personally think in the next 20years their will be civil unrest in this country as everyone will have had just had enough.

These loan company's are nothing better than thieves but the government are still letting them behave like this.
I personally don't know how those dodgy loan companies staff sleep at night on their £6 an hour knowing they have just sponged some poor person's £70.

This country will end up like south africa soon.

lawrie28

You must either be minted and lending your own money, or wanting to be a broker.

Either way, now is not the time to be starting this type of business IMO.

iolanthe07

A fool and his/her money are soon parted and you certainly can join those who exploit this fact. Whether you will be able to sleep at night is, of course, another matter.

FLAPJACK

Star-fire,

At last someone who can see whats going to happen...you are exactly right, but I wouldn't give it 20 years.

I posted few months ago that todays Britain isn't the same as the 50's.... people are different and a lot of them (as seen on this site) are in the situation they are in through some fault of their own and moreso the lenders for lending to people who had no chance of paying it back.

The lenders as we see now have been comfortably "bailed out" at our expense....surely the moral thing the government should have done is wrote off the most deserving cases and used "bonuses" to finance it.

Now everywalk of life is being penalised from those who bought big houses with big mortgages (tough) and those who were sucked in to the "buy now pay later" culture.

We are sleep walking into a huge mess, food prices rocketing..fuel prices rocketing etc....howabout a nationwide boycot of Tescos once a week Sainsburys once a week ( obviously a overpricing cartel between...Lidl seem to manage to charge decent prices ) and so forth with petrol stations.

Interestingly I heard on the net today (not on the news of course, thats always telling us how much worse it is in other countries -and what to look forward to here- oh and of course THE wedding that we are chipping in for!...) that Petrol retailers are looking at increasing their cut of the price of petrol (as surprise surprise they are not selling as much as this time last year!) So if the 1p a litre is dropped in April, petrol will still go up...but the government can then say "it's not us".

I suppose i'll be shot down anytime now but TRUTH HURTS.....wait and watch!

crazyguy

chrissie22 wrote: »

Actually chri15 thats unfair as many many people do believe the twaddle the loan brokers give them, its hard to believe that companies who advertise they will truly get you the loan you ask for are in reality lying cheating b*****ds! If some are really desparate and need money for what ever reason are told that they have got the loan they ask for and all it takes is £60 for admin costs then to them its a much needed lifeline.

Companies like Wentworth tell customers they need card details for ID purposes, or to prove you are from the UK, and promise them no money will be taken from their account, some tend to believe that story, after all who would believe that loan brokers are allowed to lie like that? And of course when the money is taken from the account its very very difficult to get the money back.

If anyone is thinking about starting a loan company then good luck to them if they are meaning to start a good decent business, but anyone who gets on the money scamming bandwagon should be chucked in prison for a good few years, and whichever governing body is in charge of recieving and looking into complaints about these businesess and is allowing them to carry on the way they are going should be chucked in prison as well, because by not closing them down, or regulating them properly they are just as bad.

Well said chrissie,

You will find a lot of hostile people on here who think its fine for these company's to pratice in this way.

I think it is a total disgrace and I agree with everything you have said, shame there are not more people like you around.

I cannot see how these company's can justify a fee of between £20-£80.00 for doing nothing for you barring ripping you off !

BugsyBrowne

FLAPJACK wrote: »

Star-fire,

At last someone who can see whats going to happen...you are exactly right, but I wouldn't give it 20 years.

I posted few months ago that todays Britain isn't the same as the 50's.... people are different and a lot of them (as seen on this site) are in the situation they are in through some fault of their own and moreso the lenders for lending to people who had no chance of paying it back.

The lenders as we see now have been comfortably "bailed out" at our expense....surely the moral thing the government should have done is wrote off the most deserving cases and used "bonuses" to finance it.

Now everywalk of life is being penalised from those who bought big houses with big mortgages (tough) and those who were sucked in to the "buy now pay later" culture.

We are sleep walking into a huge mess, food prices rocketing..fuel prices rocketing etc....howabout a nationwide boycot of Tescos once a week Sainsburys once a week ( obviously a overpricing cartel between...Lidl seem to manage to charge decent prices ) and so forth with petrol stations.

Interestingly I heard on the net today (not on the news of course, thats always telling us how much worse it is in other countries -and what to look forward to here- oh and of course THE wedding that we are chipping in for!...) that Petrol retailers are looking at increasing their cut of the price of petrol (as surprise surprise they are not selling as much as this time last year!) So if the 1p a litre is dropped in April, petrol will still go up...but the government can then say "it's not us".

I suppose i'll be shot down anytime now but TRUTH HURTS.....wait and watch!

I wont be shooting you down because I have had enough and if I had enough money I would be out of this country soon as.
What about the lorry drivers who all went on strike when petrol prices hit £1 and now its £1.34 they don't seem to be doing anything about it.

Silly students complaining about university fees,but what about the working class who have to put petrol in there cars every week to earn a living commuting to work,work this price out over a year scandalous.

People resorting to payday lenders as OUR banks won't lend,but got bailed out by the government,so yes we have a right to kick the governments !!!.
British people are classed as the more less likely to complain when they don't agree with things then nearly every country in the world,and this is just showing more and more everyday.
Enoch powell said this country will end up going to the dogs and think he is not wrong there.

iolanthe07

People resorting to payday lenders as OUR banks won't lend

The bank do lend, but they prefer to lend to people with a track record of paying back in full and on time. You can't blame them, really.

ILW

My bank are more than happy to lend me money, it may be because I have always paid them back in the past.