[FUNd]

Who was the one who said MCA is the equivalent of financial crack? That was funny, but in many cases true. These programs can be used responsibly and then abused in some cases.

I refuse to put all the blame on the broker unless they are lying to get the deal done, which I'm sure many do. A lot of them promise better loans just around the corner if they 'prove' themselves by paying this one high interest advance back on time.

There is certainly a predatory component in MCA, but in the end, it is the business owner's responsibility to make sure he can afford the payments, regardless of what Johnny No-Thumbs tells him from his office in New Yawk. It's easy money for people with ****ty credit, and we all know how that works out in the end. (See mortgage crisis of 2007)

[Chambo]

Who was the one who said MCA is the equivalent of financial crack? That was funny, but in many cases true. These programs can be used responsibly and then abused in some cases.

I refuse to put all the blame on the broker unless they are lying to get the deal done, which I'm sure many do. A lot of them promise better loans just around the corner if they 'prove' themselves by paying this one high interest advance back on time.

There is certainly a predatory component in MCA, but in the end, it is the business owner's responsibility to make sure he can afford the payments, regardless of what Johnny No-Thumbs tells him from his office in New Yawk. It's easy money for people with ****ty credit, and we all know how that works out in the end. (See mortgage crisis of 2007)

Same rhetoric was used in mortgages and payday loans. We all k now how that turned out.