Like if they leave the country, change they're name, and cant be traced. im sure the loan company doesnt want to spend a fortune on locating someone. Ive heard sometimes the amount spent to track someone down can be as much as the loan itself. With interest rates offered of say 7 or 8% how do they keep afloat?
2007-03-02 13:21:43 · 2 answers · asked by shano 2006 1 in Business & Finance ➔ Small Business
They are usually smaller subsidiaries of larger loan companies. Kind of like a brokerage or agency.
Why do larger companies have subsidiaries...to evade paying taxes. They can come in under small business taxes, but also have the backing of the larger company. Also, these losses can be written off to the government. People who evade paying back a loan can fall into misdemeanors.
2007-03-02 13:25:50 · answer #1 · answered by Anonymous · 0⤊ 0⤋
They ll send someone out with a baseball bat to claim your kneecaps. ;-)
2007-03-02 13:31:07 · answer #2 · answered by Anonymous · 0⤊ 0⤋