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lasheytrey · Sep 29, 2012, 01:48 PM

You lost you job. Your family is starving. How would you get the money you need? Discuss.

Curlyben · Sep 29, 2012, 01:50 PM

Hunting, shooting and fishing, after all we started as hunter gatherers.
It's amazing just how long you can live without money..

Wondergirl · Sep 29, 2012, 01:53 PM

I moved this to a discussion board.

I don't believe a loan shark would ever be a last resort. That would mean as much as 450% interest on money borrowed.

The reference desk at your local public library will give useful and helpful phone numbers and contact names to anyone in dire straits.

odinn7 · Sep 29, 2012, 02:58 PM

Let me be honest here... this is something very few people know...

Years ago, back in the 90's, my father was in bad financial shape. He knew someone that was doing loan sharking (long story that I won't get into, suffice it to say that dad just knew him and was not a criminal himself) and the guy offered him a loan. He was told not to worry about it as they were "friends"... Well, it came time to pay back and I have to say, the guy was decent for a short while, I guess because he knew my dad. After some time, it finally kicked in where he wanted his money and that was it. It's not as if my dad didn't pay him back, it's that my dad couldn't afford the ridiculous interest payments and couldn't keep up. Finally, he was threatened with violence. That's when he came to me about it and had to borrow money from me, and I was struggling at the time. How shameful... to borrow money from your own kid to avoid getting messed up because you took a loan from some unforgiving criminal.

Do you want that? I doubt it. There is always a better way... no matter what, anything is better than being put into that situation. Find an alternative.

lasheytrey · Sep 30, 2012, 11:59 AM

Originally Posted by Curlyben

Hunting, shooting and fishing, after all we started as hunter gatherers.
It's amazing just how long you can live without money..

This is true. Something tells me 99.7% of people would not follow these wise words.

Great response.

lasheytrey · Sep 30, 2012, 12:00 PM

Originally Posted by Wondergirl

I moved this to a discussion board.

I don't believe a loan shark would ever be a last resort. That would mean as much as 450% interest on money borrowed.

The reference desk at your local public library will give useful and helpful phone numbers and contact names to anyone in dire straits.

Sorry about that... this is my first time here.

In the UK, many loan sharks are charging people APR as high as 4,000%. It's crazy.

lasheytrey · Sep 30, 2012, 12:02 PM

Originally Posted by odinn7

Let me be honest here....this is something very few people know....

Years ago, back in the 90's, my father was in bad financial shape. He knew someone that was doing loan sharking (long story that I won't get into, suffice it to say that dad just knew him and was not a criminal himself) and the guy offered him a loan. He was told not to worry about it as they were "friends"...Well, it came time to pay back and I have to say, the guy was decent for a short while, I guess because he knew my dad. After some time, it finally kicked in where he wanted his money and that was it. It's not as if my dad didn't pay him back, it's that my dad couldn't afford the ridiculous interest payments and couldn't keep up. Finally, he was threatened with violence. That's when he came to me about it and had to borrow money from me, and I was struggling at the time. How shameful....to borrow money from your own kid to avoid getting messed up because you took a loan from some unforgiving criminal.

Do you want that? I doubt it. There is always a better way....no matter what, anything is better than being put into that situation. Find an alternative.

Wow, I'm sorry you had to go through so much. It's unfortunate that your Dad chose to borrow money from such a greedy person.

There's a site that is petitioning against loan sharks. I'm not sure how many sigs they have, but I signed it. It's called >Link Removed<

Curlyben · Sep 30, 2012, 12:13 PM

Originally Posted by lasheytrey

Sorry about that...this is my first time here.

In the UK, many loan sharks are charging people APR as high as 4,000%. It's crazy.

Actually in the UK numerous LEGAL payday lenders are quoting rates in EXCESS of this. They even advertise this fact on prime time TV.

Loan sharks don't use published rates as they have NO need for them..

APR is merely a marketing and comparison tool that bears little resemblance to real life rates.

joypulv · Sep 30, 2012, 12:16 PM

I don't click on very many links on public boards. This one looks suspect.

Many people are without jobs and they suffer but don't take out loans. I never cease to be amazed at how many people claim to be broke, penniless, starving. There are millions of people in the world who actually are starving, but they don't have internet, cell phones, TV, warmth, or even water to drink.
You need to have water and not freeze first, food second. Those are the basic vital necessities.
You lost your job and have a family - you take in paying boarders 2 to a room, you work at MacDonalds, you apply for food stamps, you move in with relatives, you sell most of what you own, and you buy NOTHING but what is absolutely vital.

Alty · Sep 30, 2012, 01:32 PM

What would I do? I'd sell my car, my husbands car, our tv's, our furniture, and whatever else I could get money for.

I've been there before. My dog was sick, he needed to go to the vet, so I sold some of my jewelry and worked delivering newspapers at 4am 7 days a week, then coming home, showering and going to my regular job for 8 hours. My husband did the same.

You do what you have to do. There's always a solution if you're willing to work hard enough.