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'Think carefully before you sign': Mia lost her family home after taking on a small business loan with $100,000 interest (www.abc.net.au)

submitted 5 months ago by Baku@aussie.zone to c/ausfinance@aussie.zone

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[–] dumblederp@aussie.zone 4 points 5 months ago (1 children)

I read the article because it was shorter than the comments. It seems the problem here is predatory lending. Getting a loan for $500k and then being paid $380k because they took payments out sounds very much like a Ukranian Mafia loan shark technique I just read about in Jack Reacher - Blue Moon.

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[–] Baku@aussie.zone 3 points 5 months ago

Yeah, the comments are a bit wild at the moment

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