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Is payday/ title lending a good way to make money? You have to

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  3. Is payday/ title lending a good way to make money? You have to
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Anonymous
2016-01-12 17:57:03 Post No. 1038692
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Anonymous 2016-01-12 17:57:03 Post No. 1038692 [Report]
Is payday/ title lending a good way to make money? You have to deal with the worst people in society, but it looks like a relatively fast way to turn massive profit. How hard is it to collect from people who don't pay up? Do you have to litigate so often that legal fees eat up your profit?
>>
Anonymous 2016-01-12 18:00:52 Post No.1038698
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Anonymous 2016-01-12 18:00:52 Post No.1038698 [Report]
You dont litigate on such a small loan, too expensive. It's literally roulette with people. You sell your bad debt when you get it, which you will. The most important aspect of this is location. You build your biz in a state with friendly laws, in a fairly well to do town. Your better off with title loans, as you then have security.
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