What do you guys think about investing in Pawn shop or PayDay Loan companies?

Quote from MandelbrotSet:

It's a difficult business, you're usually dealing with a rough or down-and-out element, you have to be willing to get your hands dirty.

Ask yourself if it's worth it to you.
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not every pawnshop is in the hood....:D
 
Quote from u21c3f6:

calaculate the %, it is a very expensive way to get a relatively small sum of money.

Joe.
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Not really. These people that get payday loans, signs "contracts" that states that if they don't pay, the funds will be taking out of their checking account automatically, if that fails, garnish on their payroll....most folkf are not even awre of that. If that all fails that the company can not collect, and the customer goes to another payday company, all these companie are "electronically" tied and if you default, you pop up everyware within that state.

I know this shit, beacuse my friend is a GM for on of these big companies.
 
Quote from gymratnyc:

What do you guys think about investing in Pawn shop or PayDay Loan companies?

The economies tanking and these companies are doing more business.
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Pay Day stuff is good. There is an art to running a pawn shop.

John
 
Quote from Compulsive:

Not really. These people that get payday loans, signs "contracts" that states that if they don't pay, the funds will be taking out of their checking account automatically, if that fails, garnish on their payroll....most folkf are not even awre of that. If that all fails that the company can not collect, and the customer goes to another payday company, all these companie are "electronically" tied and if you default, you pop up everyware within that state.

I know this shit, beacuse my friend is a GM for on of these big companies.
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I was referring to the customer. It is a very expensive way %-wise for a customer to get a relatively small sum of money.

Joe.
 
Quote from Compulsive:

Not really. These people that get payday loans, signs "contracts" that states that if they don't pay, the funds will be taking out of their checking account automatically, if that fails, garnish on their payroll....most folkf are not even awre of that. If that all fails that the company can not collect, and the customer goes to another payday company, all these companie are "electronically" tied and if you default, you pop up everyware within that state.

I know this shit, beacuse my friend is a GM for on of these big companies.
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Thank you for the explanation. I am aware that those rates are applied for a very short period of time, but this is downright usury, at least for me. What is the typical delinquency rate?
 
Quote from ElCubano:

not every pawnshop is in the hood....:D
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LOLOL, it's hard for me to think that someone who would want to pawn their valuables as not being desperate on some level, hood or not.
 
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