So you’re not a bad person. If you design it like a bank, charge a reasonable interest rate, deny people you know can’t pay you back, and give up on getting a return on people who legitimately can’t pay you back for unforeseen reasons. That would be fine.
But what these companies are doing is essentially giving a loan to anyone, at an incredibly high interest rate, to pretty much anyone who applies. If they can’t pay back, they keep increasing interest, charging fees and if it get really bad, they will make claims on the victim’s future wages.
But what these companies are doing is essentially giving a loan to anyone, at an incredibly high interest rate, to pretty much anyone who applies. If they can’t pay back, they keep increasing interest, charging fees and if it get really bad, they will make claims on the victim’s future wages.
You’re a bad person if this is how you do it.