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Shylock Money Lending
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07-03-2011, 04:40 PM
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Alexunda
Join Date
Oct 2005
Posts
435
Senior Member
I repeat: Do not even think of going there!
People are killed here every week./month over uncollectible debts or non-payment of outstanding debts. The law is no back up, there are no collections agencies.
Unless you are a part of the Russian mafia that is now in the country, I would strongly suggest you look elsewhere for your investments. Mortgages are good, most of the time...and if you do a thorough title search before lending one penny!
There are well established people that will lend out at 1% per day for commercial uses.
Say you have a "deal" to get a container of cooking oil "no questions asked"...You can get the money, at that 1% per day rate.
Unless you are willing to kill and maim, I would not suggest that you, as a foreigner, get into money lending. Not so long ago, a woman who lent workers money on a Monday and collected on Friday @ 10% of course =>1000 on Monday = 1100 on Friday. She was killed on a Friday.
I know a guy that will lend you 50,000, no problem, at 10% a week...for ever. And he walks the streets...
HB
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Alexunda
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