Hello,
I’ve been offered a chance to invest in a pay day loan company for very good weekly returns on my initial investment.
Aside from the inherent risks involved just wondering how people would feel (if in my shoes) about investing in something like this. I tend to think that it may be a little immoral (profiting off others misfortune) but I am open to other people’s oppinions.
“Most people operate under a false ceiling which is 3 feet high” Stuart G Goldsmith
What is the real question?
If it is “Do you think this is a good investment?”, we don’t have enough info to answer.
If it is “Is it morally right?”, again, no one can answer for you, as you will have different moral value to the next person.
If I were you, I would determine first (before looking at the investment) if I thought it was morally right or not. If not go no furthur. There are enough ways to make good money without having to compromise your morals. If you are fine with it morally, look at it like you would any other business decision.
Hope I helped.
Dan.
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Roofarmer,
I appreciate your ethical dilemma.
I do see a need for the type of service. After all, traditional lenders don’t help the people in these types of straits…maybe THEY are unethical to not help….
Personally I’m not sure of the decision I’d make. It would depend on the people involved, the policies of the company & the level of control I would have to ensure that the company was behaving ethically and profitably at the same time.
If I didn’t have sufficient control or I had concerns over the ethics of the people involved my answer would be a definite no!
However I’d be willing to consider the investment provided:
– The company makes it’s policies, costs & interest rates clear to clients.
– It complies will all applicable credit legislation.
– It has a mission and supporting policies of providing a needed service to people who need quick cash fast (don’t we all at one time or another).Cheers,
Aceyducey
Originally posted by Roofarmer:Hello,
I’ve been offered a chance to invest in a pay day loan company for very good weekly returns on my initial investment.
Aside from the inherent risks involved just wondering how people would feel (if in my shoes) about investing in something like this. I tend to think that it may be a little immoral (profiting off others misfortune) but I am open to other people’s oppinions.
“Most people operate under a false ceiling which is 3 feet high” Stuart G Goldsmith
As you may guess, I live in L.A and these businesses are everywhere! The operators don’t seem to have a problem morally or otherwise running them, so I guess it is a personal choice. It’s a bit like owning a massage parlor I suppose? If you can sleep at night and you like the numbers….
Cheers,
Marc.
[email protected]There’s an interesting book “Credit Card Nation” that’s worth a read
Had a client in that years ago his rate of return was 122%.
had a leg breaker collector, licenced to carry a 45 magnum, and owned the premises on a brothel.
was a hell of a ride.
got to see the inside of the NSW special police unit. (luckily not the inside of HMSP)
hop on ……..enjoy the ride.
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