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[Loud Whispers]

As resident Real Estate Master I vote in favour of making them pay it back a little at a time, only with interest added on.

And make sure to compound it monthly.

And that's how the loan sharking business started.

Don't

[Zrk2]

As resident Real Estate Master I vote in favour of making them pay it back a little at a time, only with interest added on.

And make sure to compound it monthly.

And that's how the loan sharking business started.

Don't

You say it like it's a bad thing.

[The Mechanical Man]

As resident Real Estate Master I vote in favour of making them pay it back a little at a time, only with interest added on.

And make sure to compound it monthly.

And that's how the loan sharking business started.

Don't

You say it like it's a bad thing.

well, it is.
you borrow £100, pay back £10000
hmm.... I think that may be a bit unkind, and bad.

Exaggerations aside, that's what you get when you don't pay the money back in time. It provides an incentive for the person to pay back the money the owey, otherwise the amount will increase. Makes sense to me. It also provides an immediate form of payment for the lender- they lent money, they get payed for their services.

[Loud Whispers]

As resident Real Estate Master I vote in favour of making them pay it back a little at a time, only with interest added on.

And make sure to compound it monthly.

And that's how the loan sharking business started.

Don't

You say it like it's a bad thing.

well, it is.
you borrow £100, pay back £10000
hmm.... I think that may be a bit unkind, and bad.

Exaggerations aside, that's what you get when you don't pay the money back in time. It provides an incentive for the person to pay back the money the owey, otherwise the amount will increase. Makes sense to me. It also provides an immediate form of payment for the lender- they lent money, they get payed for their services.

Then you get situations like Africa, where so much interest is added, that they never recover, never pay off their debts and the lender never gets money back.

[The Mechanical Man]

As resident Real Estate Master I vote in favour of making them pay it back a little at a time, only with interest added on.

And make sure to compound it monthly.

And that's how the loan sharking business started.

Don't

You say it like it's a bad thing.

well, it is.
you borrow £100, pay back £10000
hmm.... I think that may be a bit unkind, and bad.

Exaggerations aside, that's what you get when you don't pay the money back in time. It provides an incentive for the person to pay back the money the owey, otherwise the amount will increase. Makes sense to me. It also provides an immediate form of payment for the lender- they lent money, they get payed for their services.

Then you get situations like Africa, where so much interest is added, that they never recover, never pay off their debts and the lender never gets money back.

So then if the lender never gets money back it's his fault for having such a giant interest rate.

[Kicior]

Dobry zwyczaj, nie pożyczaj. ("Don't lend/borrow, it's a good habit")

[Grek]

Take them to small claims court over it. Chances are that at least one of them will cave and pay you the money well before lawyer fees eat up the costs.

[rangarkash]

Usury is a despicable practice..