Heads Up: Debt Buyers Paying More for Our Bad Paper
payday loan, car title loans, installment loans… % Debt buyers are in a state of frenzy. Payday, installment, car title… lenders are working their bad debt longer than normal. Why? Our subprime borrowers are sitting on a ton of cash. Our collection Team is experiencing more than usual success.
“The Payday Loan Puzzle.”
“FACT: Two-thirds of individuals who use both credit cards and payday loans have at least $1,000 of credit card liquidity left when taking out a payday loan.” The term “Payday Loan” comes with more negative connotations than the term “carpetbagger” did after the Civil War. Our industry, “the business of lending to the masses” has […]
How to Loan Money to the Masses Profitably
Let’s get real! Lending money to the masses can be very profitable!
We are rapidly becoming a nation of “haves” and “have not’s.” The average U.S. worker is paid $23/hour. In real terms, $23/hour has the same purchasing power as $6/hour 40 years ago. The result? Staggering household debt! [Yes, I know! Many of you are reading this Course as you sit in Australia, Europe, the Islands, China… It’s the same theme everywhere. The business of lending money.]
Who Gets Payday Loans Today
NOTE: Quite frankly, PAYDAY LOAN products are dinosaurs! Virtually all forward-thinking payday loan lenders have evolved to various types of “installment loans, line-of-credit loans, even buy-now-pay-later” [BNPL] forms of payment. [These BNPL financial products are often worse than old school payday loans because consumers OFTEN fail to realize the payments eventually do come due and they simply forgot! The free interest evaporates and the late fees kick in. It gets REAL UGLY fast. But, this issue is another Post.]
I Need to Buy a Payday Loan LMS Company Today
To the point, I need to buy an LMS company. The IDEAL LMS candidate has an existing portfolio of storefronts offering payday, installment, line-of-credit… loans. Our goal is to acquire the clients/Lenders of our target LMS provider. We will then easily enable these Lenders to convert their face-to-face/storefront transactions with their borrowers to online, digital […]
Opportunities Available: Biz of Lending to the Masses
I’ll get right to the point: I have serious buyers for title loan paper! Performing, non-performing… ANYTHING IF you are a buyer of Canadian non-performing installment paper, email me! Anyone have a $1M – $2M online personal loan portfolio for sale? Email me… Have a buyer More deals & wheels coming. YOU have anything? Email […]
Demystifying a Buy Now Pay Later Startup: Ex-Enova Employee
Arad Levertov is the founder of Sunbit an Ex-Enova employee; a Buy Now Pay Later platform [BNPL}. He shares with my mentor how he did it! Today’s guest was new to the US but had a great job and was making good money. So imagine how surprised and embarrassed he was when he was turned down for a Costco credit card when shopping with his family.
Covid: A Few Thoughts for Those of Us Who Lend Money to the Masses
Covid: A Few Thoughts A Word About Covid & Plagues: History may not repeat BUT it certainly rhymes. In other words, we’ve suffered plagues, environmental catastrophes, economic shocks, depressions, recessions… and ALWAYS recovered eventually. The Covid event is simply a hiccup in time. The 99% will always remain in debt. Consumerism/Instant gratification is in their […]
National 36% APR Cap Introduced
A National 36% APR CAP INTRODUCED! Lenders, NEED HELP? We have STRATEGIES. Reach out to Jer@theBusinessOfLending.com
“WASHINGTON – A bill to protect consumers who borrow with consumer loans has been introduced by U.S. Senate Majority Whip Dick Durbin (D-IL) and other lawmakers.
The bill, known as the Protecting Consumers from Unreasonable Credit Rates Act, would cap fees and interest on consumer loans at an Annual Percentage Rate (APR) of 36 percent. This is the same limit that currently exists for loans marketed to military service members and families.” https://lnkd.in/gumxCxa