am
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Post by am on Feb 5, 2017 9:38:03 GMT
From the FAQ "As an example – you might have £500 to lend and someone else needs to borrow £500 to buy a dishwasher."
I see two problems with that as an example. Firstly dishwashers generally don't appear to cost that much - a quick google finds prices between £170 and £420, though I suppose a sole trader running a restaurant might need a professional grade dishwasher at a higher price. Secondly, apart from the hypothetical restauranteur, dishwashers aren't an emergency purchase, and people shouldn't be borrowing at payday loan rates for non-emergency purchaeses (or at least non-time critical purchases - I've seen it argued that a child's birthday treat or present is justifiable).
Better examples would be cars (for commuting), CH boilers (in winter) and rental payments.
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kaya
Member of DD Central
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Post by kaya on Feb 5, 2017 11:57:50 GMT
Lend money to someone that 'needs' a dishwasher? That sounds like a money laundering scam to me.
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ikorodu
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Post by ikorodu on Feb 7, 2017 20:41:13 GMT
Lend money to someone that 'needs' a dishwasher? That sounds like a money laundering scam to me. Surely money laundering would involve a washer dryer?
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fp
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Post by fp on Feb 7, 2017 22:02:02 GMT
Professionals do it without getting it wet... so I guess thats dry cleaning.
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