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Re: Is a 30k Loan with 100% Interest a Bad Idea?

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JoeDeveloper is not online. JoeDeveloper
Joined: 01 Aug 2013
Total Posts: 999
05 Nov 2017 03:30 PM
I am currently arguing to some people that previously gotten a loan for 30k, but the guy that loaned the money wants 100% interest (he wants 60k back).

Am I the only one that thinks this is simply and utterly outrageous?

Sure the investor benefits but who would sign to this kind of deal?

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Gh0stist is not online. Gh0stist
Joined: 13 Nov 2010
Total Posts: 9513
05 Nov 2017 03:31 PM
Scammers?
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ThePastAndFuture is online. ThePastAndFuture
Joined: 03 Jun 2014
Total Posts: 1564
05 Nov 2017 03:31 PM
You signed up for it...


Send
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Seoulified is online. Seoulified
Joined: 30 Jun 2015
Total Posts: 4548
05 Nov 2017 03:32 PM
So basically if you don't pay the 100% interest you're a scammer.



*English subtitles are now available and the ting goes skrra now.
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JoeDeveloper is not online. JoeDeveloper
Joined: 01 Aug 2013
Total Posts: 999
05 Nov 2017 03:32 PM
No, I didn't.

Someone else did.

I am trying to convince them it was a horrible deal.

100% interest isn't even close to the real world. That's insane.

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WarlordRising is not online. WarlordRising
Joined: 14 Aug 2010
Total Posts: 16250
05 Nov 2017 03:33 PM
100% interest compounded over what time frame? lol


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Virlux is online. Virlux
Joined: 07 Sep 2017
Total Posts: 197
05 Nov 2017 03:34 PM
if they are good with their money and know their ways around this site its not too bad lol
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JoeDeveloper is not online. JoeDeveloper
Joined: 01 Aug 2013
Total Posts: 999
05 Nov 2017 03:35 PM
This loan was over game sponsoring.

The guy loaned 30k,
The game made 58k,
He wants 60k back,

and I have no idea when the "double back" motion was signed or noted. But even if it was in the beginning of the contract who the heck would sign that?

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Virlux is online. Virlux
Joined: 07 Sep 2017
Total Posts: 197
05 Nov 2017 03:37 PM
when does he want the money back thats what we all wnat to know!
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JoeDeveloper is not online. JoeDeveloper
Joined: 01 Aug 2013
Total Posts: 999
05 Nov 2017 03:38 PM
Today.

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Salinas23 is not online. Salinas23
Joined: 28 Dec 2008
Total Posts: 37141
05 Nov 2017 03:39 PM
Its not the same 100% weekly interest than yearly interest rofl.

See this is why you dont let kids talk about finance and numbers


I have a spider on my back.
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Unresolved is not online. Unresolved
Joined: 14 May 2011
Total Posts: 13530
05 Nov 2017 03:39 PM
Did he say he wanted 100% interest when he loaned the money?

If he didn't say it in the beginning when the two of you agreed then you just have to pay him the 30
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cros_sed is online. cros_sed
Joined: 29 Jun 2016
Total Posts: 9578
05 Nov 2017 03:41 PM
I would of loaned the guy 30k a/t for 40% or 30% interest but 100% is way too much.


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deviljustin22 is online. deviljustin22
Joined: 10 May 2010
Total Posts: 2844
05 Nov 2017 03:42 PM
take it all and run
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Gh0stist is not online. Gh0stist
Joined: 13 Nov 2010
Total Posts: 9513
05 Nov 2017 03:42 PM
So when you took the loan, did you agree on a set interest? Or did he just tell you it’s 100%?
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JoeDeveloper is not online. JoeDeveloper
Joined: 01 Aug 2013
Total Posts: 999
05 Nov 2017 03:43 PM
He asked at the start I just heard.

Problem is, that money is supposed to pay for the devs that built the game.

Now apparently they are not getting paid?

Inrl that's illegal and can result in serious crimes and punishments.

On Roblox at least you just get called a Scammer or banned.

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ma_da is not online. ma_da
Joined: 31 Aug 2010
Total Posts: 5577
05 Nov 2017 03:43 PM
take it all and run [2]


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JoeDeveloper is not online. JoeDeveloper
Joined: 01 Aug 2013
Total Posts: 999
05 Nov 2017 03:45 PM
Can't.

Wouldn't.

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deviljustin22 is online. deviljustin22
Joined: 10 May 2010
Total Posts: 2844
05 Nov 2017 03:46 PM
pay 40k and tell him thats all you made
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gIoam is not online. gIoam
Joined: 23 Jul 2015
Total Posts: 310
05 Nov 2017 03:47 PM
^^^
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JoeDeveloper is not online. JoeDeveloper
Joined: 01 Aug 2013
Total Posts: 999
05 Nov 2017 03:49 PM
Maybe...

This would only work if he didn't already know how much it made, and if he doesn't demand for personal money from the loaners.

Thanks for idea though, I will bring that up.

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