Loan Shark Reality

[Tiarra]

I will be raising the interest rate that I charge in Loan Shark. Starting today, I will be offering 1 day loans at 15%, 2-3 day loans at 20%, and loans for more than 3 days on a case-by-case basis with interest in the 25%-50% range. I will no longer be offering loans through the market, even for players with pristine credit.

I have found that I must pass on the costs of those new members and regulars alike that do not pay back their debts. Around 90% of my customers have paid their loans on time, however, the other 10% have made it so that I have lost money overall!

If repayment gets better in the future, I will lower my interest rates once again. Apologies in advance to all of you who have been good borrowers, but 10% interest is unsustainable as I am currently losing money at that interest rate.

[jkarcs77]

sorry for ur losses tiarra

[gimmeabrew]

boo

[Tiarra]

boo

Sorry gimme! It sucks that I have to charge an honest customer like you more to cover for some idiot deadbeat, but that's the way credit works I suppose.

[pokerpiglet]

gotta always cover ur losses
smart decisions

[CoolJakeB]

I feel your pain. I have some loans in the Loan Shark that have defaulted as well, charging more interest seems like the best plan.

[MIGO14]

Thats real economy I guess, lol. But for sure understandable.

[AryAlton]

wow thats kind of steep for interest. but i guess that how business works

[ProBlackbird]

It's sure is nice of people that actually want to loan out points but kind of aweful in the end that they won't paid you back.

[bigphatmike]

Yea i still owe Day a little bit of cash, but in loan shark i just think ppl got a little too nice