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Payroll loan prospect for investors


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Markham

Paul,

 

I am very interested in taking-up the remaining 10k.

 

However I would like to make one point which is that those who advance these loans at much higher rates of interest are not going to take too kindly to a 'new kid on the block' stealing their business by offering significantly lower interest rates. If anything untoward happens to your friend, the investors could also lose-out. So does he/she have good personal protection?

 

 

 

Mark

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Do you guys never get tired of scaming people or are you just that stupid that peolpe with money are that idiots.?   Who the f**** give a annual interest of 60%?   Geezzz, get a grip ffs!'   60

This smacks of a classic Ponzi scheme. 60% per year return is so totally unrealistic that that red flags should be popping up in all directions. A couple of brothers pulled this off for many years i

Paul,   I seem to recall, some not even willing to give Perry Gamsby's 'Squidly' Business Venture, a try?   I know 5%pm is not as 'extortionate' as some who have replied to this 'Thread' have sugg

A_Simple_Man

May I suggest, to those like Baldy who think the interest rate is too high? Is there some reason why you cannot set up your own investment group and charge less? My point being that it is not being done, thus the rate of 60%pa is the fairest available. I am curious about the tax issues here. The way lending businesses like this are set up in the Phils I believe the tax people here take 20% off the gross? Unless this is under the table? I am interested either way but since it seems the original 60K is committed to then I shall wait to see if there is a phase 2.

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richard90027

I'm already doing this but I get 10%. With a 40,000php investment I no longer have to send my wifes mother $100.00 a month, it's self paying.....

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Athena

Paul,

 

I am very interested in taking-up the remaining 10k.

 

However I would like to make one point which is that those who advance these loans at much higher rates of interest are not going to take too kindly to a 'new kid on the block' stealing their business by offering significantly lower interest rates. If anything untoward happens to your friend, the investors could also lose-out. So does he/she have good personal protection?

 

Mark

 

Im afraid you fall back in thinking PI is a miniwest

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Markham

Paul,

 

I am very interested in taking-up the remaining 10k.

 

However I would like to make one point which is that those who advance these loans at much higher rates of interest are not going to take too kindly to a 'new kid on the block' stealing their business by offering significantly lower interest rates. If anything untoward happens to your friend, the investors could also lose-out. So does he/she have good personal protection?

 

Mark

 

Im afraid you fall back in thinking PI is a miniwest

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Cipro

Typically the high interest rates reflect the high risk. If it was a rip off the market would provide a lower cost alternative, as in this case where the existing loans are being given at a rate that the new loans will in fact under cut.

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My Philippino gf runs a sari-sari store and talks about an "indian" money lender who will lend at 20% interest over 2 months - the debtor paying 100 php daily for 60 days thus repaying 6000 for a 5000 investment. That is a nice profit of course but she was not able to explain what happens with default. I have a sense that some of the debtor laws there resemble those from the 18th and 19th Century Europe - people get in prisoned for bad debt. Loan sharks in US urban settings use violence to enforce loan payment - does that happen there? As I have thought about her pursuing this business, since her doter now is starting to make a good income as a manager in one of the premier hotels there, the risk of a single default seems like it would eat the profits of 5 successful loans. How is this dealt with? Are there known default percentages? All those years of statistics can warp ones thinking.

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smokey

My Philippino gf runs a sari-sari store and talks about an "indian" money lender who will lend at 20% interest over 2 months - the debtor paying 100 php daily for 60 days thus repaying 6000 for a 5000 investment. That is a nice profit of course but she was not able to explain what happens with default. I have a sense that some of the debtor laws there resemble those from the 18th and 19th Century Europe - people get in prisoned for bad debt. Loan sharks in US urban settings use violence to enforce loan payment - does that happen there? As I have thought about her pursuing this business, since her doter now is starting to make a good income as a manager in one of the premier hotels there, the risk of a single default seems like it would eat the profits of 5 successful loans. How is this dealt with? Are there known default percentages? All those years of statistics can warp ones thinking.

 

 

 

 

have you ever notice how many indian people get shot ... that is what they are doing collecting and how much of a hassel is it to find a person EVERY day to collect..

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Paul

"The triumph of hope over experience."

 

Given the track record of the numerous "investment" schemes promoted on this site, I can't think of a better expression to describe the thinking of people who would willingly send money to an anonymous person to start an illegal money lending operation in the Philippines.

 

First, I am not anonymous. Furthermore, I am far from from someone who is not known on this forum. I have an honest reputation amongst foreigners and Filipinos in this country, and have for going on a decade. So, because you may not know me, doesn't mean that many others here do not. I will happily give out my complete address to anyone who has sent monies through me. I'm quite sure they will be happy to do the same. Incidentally, they have just signed another one year lease with their landlord, paid in advance. So, I doubt very seriously they are going anywhere either.

 

Of course, I sure we could take a long trip out of the country on the Php 60,000 we are being entrusted with by the members here. :rolleyes::banghead:

 

Second, if you do not wish to invest in this idea, or have no interest in considering doing so, then you have no reason to post in this thread. :not_see:

 

Third and finally, if I were low enough to feck someone out of money, it would be a damned sight more than a few hundred bucks.

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Paul

I have begun collecting the initial monies from the first people who are interested in this. I will answer the other emails and PMs regarding this, beginning tonight.

 

The initial monies will be accepted on a first come, first serve, basis.

 

Because the initial limit is only Php 60,000, those who contacted me first about this will be the first ones who I will accept monies from in this. It appears as though we have well over the number of people interested in this, than they need for the for the initial investment. Thanks so much, for your interest and trust in me.

 

But, since this doesn't even formerly start until August 1st, 2010, there isn't much of a rush yet. So, please bear with me on this.

 

Thanks for your patience,

 

Paul

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The knockers who have come out the closet to rubbish this proposal really amazes me. This sort of loan practice has been going for years in this country. A few years ago my wife was also doing this....and she found it to be a very reasonable earner.

 

People who are lent money on the short term were usually professional people or government workers....the percentage of defaulters was very small and the losses were more than covered.

 

Before you kick somebody, make sure the shoe is on the right foot, and not in your mouth.

 

Regards Peter

Puerto Galera

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Athena

My Philippino gf runs a sari-sari store and talks about an "indian" money lender who will lend at 20% interest over 2 months - the debtor paying 100 php daily for 60 days thus repaying 6000 for a 5000 investment. That is a nice profit of course but she was not able to explain what happens with default. I have a sense that some of the debtor laws there resemble those from the 18th and 19th Century Europe - people get in prisoned for bad debt. Loan sharks in US urban settings use violence to enforce loan payment - does that happen there? As I have thought about her pursuing this business, since her doter now is starting to make a good income as a manager in one of the premier hotels there, the risk of a single default seems like it would eat the profits of 5 successful loans. How is this dealt with? Are there known default percentages? All those years of statistics can warp ones thinking.

 

have you ever notice how many indian people get shot ... that is what they are doing collecting and how much of a hassel is it to find a person EVERY day to collect..

 

Very true

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George45

Paul put me down for $200.00 at this time.

Thanks

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Paul

Hi George.

 

I am currently going through the list of people who are interested and/or who have gone ahead and offered, or have actually sent me the funds.

 

I am going, currently, in the order they contacted me.

 

But, I will put you down on the list.

 

Thanks for the funds.

 

I will check tomorrow and see if there is any way they can do more on this. But, I understand why they started at only Php 60,000. It was due to the actual number of employees that we had as possible clients. They didn't want to dump more money into this than they would be able to loan out.

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