- Thread Author
- #1
Do you think this is a good way to increase your income especially when. looking at the risk involved in doing this. But do you think it's a good financial routine?
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Lending money to make interest
- Thread starter Augusta
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eLdavis
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It depends on you though. Personally I would not use this method to make money the risk is just too much.
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- #3
My thought exactly it seems the risk is rather too high it would be better to invest with the money
The business that deals with the lending out of of money is very profitable. However the most challenging factor for the business is the constantly dealing with the untrustworthy clients for sure.
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- #5
Yeah that's true. You would make money if you have trust worthy people but the reverse will be if you give to dubious persons.
Such business is not for person that is sympathetic and reasonable person. In fact, it is a business of thuggery and extortion. If you have conscience, don't do such business because it will kill you heforecyour time.
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- #7
Yeah if you don't have the heart to let go because you would meet some dubious people that would not want to pay back
No, I will not consider lending money to earn interest. It is too risky. There are all sorts of people out there.
If you personally run a lending money to earn interest, it will be high risk, unless you operate as a corporation that has debt collectors to collect bad debts.
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There are many operators here like that but the debtors left their ATM to the lending person so those who want to lend money must surrender their ATM. The debtors will claim back their ATM with the remaining balance. There is receipt for a legit transaction. It's still risky.
I can't lend money to anyone for interests because most times, it always turn out to be losses for the lender.
Don't lend anyone more without garanty you will get it back. You will always find a a scammer which will lend money and never get it back. You must have some warranty.