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Rev. Poppy Haze (poppyhaze@girlcock.club)'s status on Saturday, 29-Jun-2024 04:35:34 JST Rev. Poppy Haze

apparently in India, the most common scam are loan apps that give you real money and they also ask for full permissions on your phone. If you took a picture of your ID card or nudes, or they’ll photoshop nudes, they extort you for exorbitant interest payments and fees for $15-20 or more

In conversation about 5 months ago from girlcock.club permalink
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  Rev. Poppy Haze (poppyhaze@girlcock.club)'s status on Saturday, 29-Jun-2024 04:35:31 JST Rev. Poppy Haze
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  I remember years ago, people saying that microfinance and microcredit would save the 3rd world and then it turns out the average fee and interest on a microloan is 35% APY which is crushing. And now we have even more predatory microloans
  https://en.m.wikipedia.org/wiki/Microfinance
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    Microfinance
    
    Microfinance is a of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance services are designed to reach excluded customers, usually poorer population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient. ID Ghana is an example of a microfinance institution. Microfinance initially had a limited definition: the provision of microloans to poor entrepreneurs and small businesses lacking access to credit. The two main mechanisms for the delivery of financial services to such clients were: (1) relationship-based banking for individual entrepreneurs and small businesses; and (2) group-based model, where several entrepreneurs come together to apply for loans and other services as a group. Over time, microfinance has emerged as a larger movement whose...
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  Rev. Poppy Haze (poppyhaze@girlcock.club)'s status on Saturday, 29-Jun-2024 04:35:33 JST Rev. Poppy Haze
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  It’s not much, but if they can do it to a billion people at once, that’s a lot of money. For richer Indians, they will pay to make it go away and learn a painful lesson. For the poorest, that may be their last $20, and they are forced into suicide instead.
  
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  carl marks repeated this.
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  carl marks (tillshadeisgone@blackqueer.life)'s status on Saturday, 29-Jun-2024 04:36:31 JST carl marks
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  @poppyhaze of course... ugh.
  
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