Peer-to-peer vs Payday loans

[rpm]

Peer-to-peer vs Payday loans

Peer-to-peer lending group, Lendico, says that new financial lending platforms that follow the peer-to-peer model could provide a safer, more secure alternative to payday loans.

 

[DJ...]

No, just a whole lot of nope to this press release. Please keep the loan sharks (irrespective of how they market themselves) off this site.

 

[Paul Hjul]

the fact that lending takes place on a peer to peer basis rather than on consolidated lender to debtor basis doesn't change the essence of the lending character. A Sicilian money runner lending money to an Irish gun runner is a p2p loan but its still loansharking and racketeering

So the notion of a p2p vs payday is contrived.

 

[ToxicBunny]

There is so much of nope in that press release its just ridiculous...

I heard about this idea, and investigated it a bit, and it just seemed like a relatively bad idea from every side to me.