Hi, what is the exact rule for loans? As in how much % wise can the interest be. I just want to know so in the future I can not get in trouble. Thanks! BEFORE I GET TONS OF FLAME, YOU ALL NEED TO UNDERSTAND HOW RISKY LOANING TO NOAH IS. I LOANED TO HIM ONCE AND THEN 3 MINUTES LATER HE LOST ALL HIS MONEY TO LOTTO AND QUIT.
Don't make stupid loans. Make realistic ones. Loaning someone 15k and expecting 250k is pretty stupid if you ask me - Especially with late fees of 10k/hour. Use your common sense.
Simple Definition of stupid : not intelligent : having or showing a lack of ability to learn and understand things : not sensible or logical
OMFG, you knew thats not what I meant but okay. WHAT IS THE THRESHOLD FOR WHICH THE LOAN IS NOT ALLOWED
Don't make loans with an interest rate of 1567%, lmao. Do a 100% interest rate at max - it starts getting excessive and sometimes stupid if more. And don't do excessive late fees of 10k/hour. More like 10k/day or perhaps even less. You seemingly intentionally put the late fees in, given your response to the complaint. Oh, and what made the late fees more ridiculous is that they were literally 2/3 of the entire loan. Late fees should hold nowhere near that proportion to the entire actual loan. Especially for short term loans like that.
Okay thanks. EVERYONE, I AM NOT SAYING THAT LOAN WAS APPRORIATE OR EVEN JUST. 100% makes sense thank you! I AM JUST TRYING TO GAUGE WHAT IS GOOD/BAD PLEASE STOP SAYING THAT LOAN WAS CRZY/UNFAIR, I KNOW AND IT HAS BEEN DEALT WITH *second part not towards u united per say
