[Don Dolla]

This is definitely not Trumps fault. An entire economy doesn't go through a recession from a few years of one mans small influence through just one branch of government. It takes a lot more than one man to impact this country. People need to stop acting like Trump is so powerful. America has survived good presidents and horrible presidents. People are giving this man more credit than he deserves.

when you're the president and you start imposing tariffs on other countries, you single handedly can **** **** up. We're getting hit with taxes and tariffs in retaliation.. it's happening to manufacturing and exporting companies so you may not notice it but it's real , it's happening and people are getting laid off... look at steel, auto, soybeans, oil & gas.. nothings getting sold anymore because we are getting taxed out of competition

[Steven_O]

"El que invento la ley, invento la trampa". He who writes the law, writes the loopholes.

[morgan.quinn]

The Bloomberg article on COJs was interesting for a lot of reasons. The article states that a lender can, “without proof, accuse borrowers of not paying and legally seize their assets before they know what’s happened. Not surprisingly, some lenders have abused this power. In dozens of interviews and court pleadings, borrowers describe lenders who’ve forged documents, lied about how much they were owed, or fabricated defaults out of thin air.”

The article later says that cash advance companies have secured more than 25,000 judgments in NY since 2012.
So… “dozens” of instances of wrongdoing shakes out to what…? 0.2% of all judgments filed since 2012…? While any wrongdoing is worrisome, 0.2% isn’t exactly significant.

COJs have basically securitized our unsecured advances; The truth is that collectability in the event of default has become just as important as the merchant’s overall creditworthiness and the likelihood that the merchant will simply repay the advance. High-risk underwriters must ask themselves not only “what does this merchant deserve right now?” but also “what will I be able to recover later?”

Any funder that has had a merchant stop payment knows the feeling of panic. For high-risk funders, its constant. Thus, for some, filing the COJ has become the first step in the collections process instead of relying on more “soft” preliminary collections tactics, (i.e.: making calls, sending emails, etc.). Additionally, if a merchant with multiple advances starts having repayment issues, funders that hesitate to file run the risk of being left with nothing… which further adds to the industry’s (at times, troublesome) “quick filing culture.”

While soft collections tactics and more due diligence on the funder’s behalf would have mitigated the fiasco that the Duncans experienced, YSC literally wouldn’t be YSC or have achieved their unparalleled success without their speed and voraciousness. Unfortunately sometimes with speed comes error. Nevertheless, their model values collectability over almost everything else, and it works.

If there wasn’t a demand, there wouldn’t be a supply; Let them eat cake, sign COJs, and take 1.499s all day long… I guess?

[Yankeeman07]

when you're the president and you start imposing tariffs on other countries, you single handedly can **** **** up. We're getting hit with taxes and tariffs in retaliation.. it's happening to manufacturing and exporting companies so you may not notice it but it's real , it's happening and people are getting laid off... look at steel, auto, soybeans, oil & gas.. nothings getting sold anymore because we are getting taxed out of competition

Not sure where you are obtaining your information:

https://www.cnbc.com/2019/01/04/manu...ince-1997.html

https://www.cnsnews.com/news/article...hits-trump-era

https://www.eia.gov/todayinenergy/detail.php?id=37172

https://www.reuters.com/article/us-u...-idUSKBN1O51X7

https://www.americangeosciences.org/...ort-and-import


We still have a long way to go regarding employment , watch the U6 Numbers - in my opinion, is a better indicator.